RBI Circular for October 2026

October 8, 2026 admin 0 Comments business strategy, enterprise risk management, ISO, Opportunity Management, Opportunity-Based Thinking, Organisational Objectives, Quality Management, risk assessment, Risk management, Risk-Based Thinking

Exim Bank’s GOI-supported Line of Credit (LOC) for Rs. 4,850 crores the Government of Maldives, for financing various developmental projects in Maldives

22 September, 2026

1. Export-Import Bank of India (Exim Bank) has entered into an agreement dated July 25, 2025, with the Government of the Republic of Maldives, for making available to the latter, Government of India supported Line of Credit (LoC) of ? 4,850 crores (Rupees Four Thousand Eight Hundred and Fifty crores only) for financing various developmental projects in Maldives. The export of eligible goods and services from India, as defined under the agreement, would be allowed, subject to their eligibility under the Foreign Trade Policy of the Government of India and whose purchase may be agreed to be financed by the Exim Bank under this agreement. Under this Agreement, goods, works and services of the value of at least 75% of the contract price (as may be applicable) shall be supplied by the Seller from India, and the remaining 25% of goods and services may be procured by the Seller for the purpose of the Eligible Contract from outside India.

2. The Agreement under the LoC is effective from August 27, 2026. Under the LoC, the last date for disbursement will be 48 months after scheduled completion date of the contract. Individual Credit Agreements will be signed under the ambit of Umbrella LOC (for a minimum value of Rs. 500 crores) subsequent to identification and approval of the projects to be financed under each individual credits under the LOC.

3. Shipments under the LoC shall be declared in Export Declaration Form/Shipping Bill as per instructions issued by the Reserve Bank from time to time.

4. No agency commission is payable for export under the above LoC. However, if required, the exporter may use his own resources or utilize balances in his Exchange Earners’ Foreign Currency Account for payment of commission in any foreign currency. Authorised Dealer (AD) Category- I banks may allow such remittance after realization of full eligible value of export, subject to compliance with the extant instructions for payment of agency commission.

5. AD Category – I banks may bring the contents of this circular to the notice of their exporter constituents and advise them to obtain complete details of the LoC from the Exim Bank’s office at Centre One, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005 or from their website www.eximbankindia.in

6. The directions contained in this circular have been issued under section 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions/ approvals, if any, required under any other law.

Relief Measures in Areas Affected by Natural Calamities – Reporting through Centralised Information Management System (CIMS) Portal – Introduction of Half-Yearly Return

02 September, 2026

1. The regulatory framework governing the relief measures to be extended by the Regulated Entities (REs) in areas affected by natural calamities has been revised vide the amendment directions on Resolution of Stressed Assets dated April 29, 2026 (list enclosed), which came into effect from July 1, 2026.

2. These directions require REs to submit data relating to relief measures extended in areas affected by natural calamities through the CIMS portal on a half-yearly basis. Accordingly, in order to align the existing reporting mechanism with the revised regulatory framework, REs shall furnish the required information in the revised reporting format through the CIMS portal.

3. The return shall be submitted within 30 days from the end of each half-year, i.e., by October 30 for the half-year ending September 30, and by April 30 for the half-year ending March 31.

4. REs shall ensure that the information submitted through the CIMS portal is accurate, complete, and duly validated. Appropriate internal systems and processes may be established to facilitate timely collection, verification, consolidation, and submission of the required information.

5. Further, the existing monthly return which was applicable to all Scheduled Commercial Banks (including Small Finance Banks and excluding Regional Rural Banks) on relief measures extended in areas affected by natural calamities stands discontinued with effect from July 1, 2026.

Implementation of Section 51A of UAPA, 1967: Updates to UNSC’s 1267/ 1989 ISIL (Da’esh) & Al-Qaida Sanctions List: Amendment of 21 Entries

August 19, 2026

1. Please refer to Chapter IX on “Requirements/obligations under International Agreements – Communications from International Agencies” of the Reserve Bank of India – Know Your Customer, Directions, 2025 dated November 28, 2025 (amended as on December 29, 2025) (“Directions”), as applicable, as per which, regulated entity shall ensure that in terms of section 51A of the Unlawful Activities (Prevention) (UAPA) Act, 1967 and amendments thereto, it does not have any account in the name of individuals / entities appearing in the lists of individuals and entities, suspected of having terrorist links, which are approved by and periodically circulated by the United Nations Security Council (UNSC).

2. In this connection, Ministry of External Affairs (MEA), Government of India has informed about the UNSC press release SC/16435, dated August 18, 2026 wherein the Security Council pursuant to resolutions 1267 (1999), 1989 (2011) and 2253 (2015) concerning ISIL (Da’esh), Al-Qaida and associated individuals, groups, undertakings and entities enacted the amendments specified with strikethrough and underline in the entries mentioned in Annexure 1 on its ISIL (Da’esh) and Al-Qaida Sanctions List of individuals and entities subject to the assets freeze, travel ban and arms embargo set out in paragraph 1 of Security Council resolution 2734 (2024), and adopted under Chapter VII of the Charter of the United Nations.

3. Press release dated August 18, 2026 regarding the above can be found at https://press.un.org/en/2026/sc16435.doc.htm

Further, in accordance with paragraph 61 of resolution 2734 (2024), the Committee has made accessible on its website the narrative summaries of reasons for listing of the above entries at the following URL: https://main.un.org/securitycouncil/en/sanctions/1267/aq_sanctions_list/summaries

4. The details of the sanction measures and exemptions are available at the following URL: https://www.un.org/securitycouncil/sanctions/1267#further_information

5. In view of the above, regulated entities are advised to take appropriate action in terms of Chapter IX of the aforementioned Directions and strictly follow the procedure as laid down in the UAPA Order dated February 02, 2021 (amended on April 22, 2024) annexed to the Directions.

6. Updated lists of individuals and entities linked to ISIL (Da’esh), Al-Qaida and Taliban are available at:

www.un.org/securitycouncil/sanctions/1267/aq_sanctions_list

https://www.un.org/securitycouncil/sanctions/1988/materials

7. Further, as per the instructions from the Ministry of Home Affairs (MHA), any request for de-listing received by any bank is to be forwarded electronically to Joint Secretary (CTCR), MHA for consideration. Individuals, groups, undertakings or entities seeking to be removed from the Security Council’s ISIL (Da’esh) and Al-Qaida Sanctions List can submit their request for delisting to an independent and impartial Ombudsperson who has been appointed by the United Nations Secretary-General. More details are available at the following URL: https://www.un.org/securitycouncil/ombudsperson/application.