MUMBAI: Reserve bank governor Sanjay Malhotra on Friday said the implementation of a proposal that mandates lenders set aside more funds for digitally-linked deposits will be deferred at least by a year to March 2026.
“(The) impact analysis of norms have been done but we are reviewing it again based on feedback received,” Malhotra said. “We don’t want to cause any disruption from implementation of new norms.”
In July, the RBI had proposed proposed that banks set aside an additional 5% ‘run-off factor’ on digitally accessible retail deposits to better manage risks in case of quick and heavy withdrawals via internet or mobile banking that banks set aside
The RBI will also need more time to review the draft guidelines on expected credit loss and project financing, Malhotra said.
(Reporting by Siddhi Nayak; Editing by Mrigank Dhaniwala)
