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Criminal Law (Rehabilitation of Offenders) Act 1986
An Act to provide with respect to the rehabilitation of persons convicted for offences and for related purposes
1Short title
This Act may be cited as the Criminal Law (Rehabilitation of Offenders) Act 1986.
2Commencement
(1)Section l and this section shall commence on the date this Act is assented to for and on behalf of Her Majesty.
(2)Except as is provided by subsection (1), the provisions of this Act shall commence on a date appointed by proclamation.
(3)The date so appointed is referred to as the date of commencement of this Act.
3Interpretation
(1)In this Act—
approved form means a form approved under section 14.
s 3 def approved form ins 2004 No. 43s 30
charge means an allegation formally made in court that a person has committed an offence where—
(a)the allegation is not pursued to a final determination in a court; or
(b)a conviction is not recorded by a court in respect of the allegation; or
(c)a conviction recorded by a court in respect of the allegation is to be deemed, pursuant to law, not to be a conviction.
conviction means a conviction by or before any court for an offence, whether recorded, in Queensland or elsewhere, before or after the date of commencement of this Act.
criminal history means, in relation to any person, the convictions recorded against that person in respect of offences.
indictment, for this subsection, definition rehabilitation period, paragraph (a), for a conviction recorded elsewhere than in Queensland, means a written charge preferred against an accused person before a court other than a court of like jurisdiction to a Magistrates Court exercising summary jurisdiction.
s 3 def indictment ins 2007 No. 37s 162 sch
Minister ...
s 3 def Minister ins 1990 No. 80s 3sch 1
om 1991 No. 97s 3sch 2
offence means an act or omission that renders the person doing the act or making the omission liable to punishment.
person, in relation to an offender whose rehabilitation is sought by this Act, does not include an incorporated person.
rehabilitation period means—
(a)in relation to a conviction upon indictment recorded against a person who in relation to that conviction was not dealt with as a child—
(i)a period of 10 years commencing on the date the conviction is recorded; or
(ii)where an order of a court made in relation to the conviction has not been satisfied within that period of 10 years—a period terminating on the date the order is satisfied;
whichever period is the later to expire; or
(b)in relation to a conviction recorded against a person where paragraph (a) does not apply—
(i)a period of 5 years commencing on the date the conviction is recorded; or
(ii)where an order of a court made in relation to the conviction has not been satisfied within that period of 5 years—a period terminating on the date the order is satisfied;
whichever period is the later to expire.
s 3 def rehabilitation period amd 1990 No. 52s 2(a); 2007 No. 37s 162 sch
revived means, in relation to a conviction, revived as prescribed by section 11.
simple offence means—
(a)an offence committed in Queensland other than a crime, misdemeanour or regulatory offence; and
(b)an offence committed elsewhere than in Queensland that, if committed in Queensland, would be an offence other than a crime, misdemeanour or regulatory offence.
s 3 def simple offence amd 1986 No. 45s 6
term of imprisonment see the Penalties and Sentences Act 1992, section 4.
s 3 def term of imprisonment ins 2017 No. 41s 8(1)
(2)A rehabilitation period applies in relation to a conviction of a person for an offence only if—
(a)no term of imprisonment is imposed on the person for the conviction; or
(b)a term of imprisonment of not more than 30 months is imposed on the person for the conviction.
(2A)To remove any doubt, it is declared that, for subsection (2)(b), it is irrelevant whether or not the person is ordered to be imprisoned for any of the term of imprisonment imposed.
(3)A provision of law or rule of legal practice that requires or authorises disclosure of convictions or charges made against any person shall be construed as requiring or authorising disclosure of the criminal history of that person.
s 3 amd 1990 No. 52s 2(b); 2007 No. 37s 162 sch; 2017 No. 41s 8(2)
4Construction of Act
(1)This Act shall be construed so as not to prejudice any provision of law or rule of legal practice that requires, or is to be construed to require, disclosure of the criminal history of any person.
(2)This Act shall be construed so as not to relieve any person from a responsibility that rests on the person to disclose his or her criminal history in connection with seeking admission to or offering himself or herself for selection for any profession, occupation or calling prescribed by regulation.
(3)This Act shall not be construed to prohibit or hinder the provision by any person of particulars of the criminal history of any person to a Crown prosecutor, a police prosecutor or other person prosecuting upon a charge of an offence with a view to those particulars being disclosed to the court in the event of the defendant being convicted.
s 4 amd 1986 No. 45ss 4, 6; 1993 No. 83s 99
5Matter excluded from criminal history
(1)It is declared that a conviction that is set aside or quashed and a charge are not part of the criminal history of any person.
(2)A person shall not be required or asked to disclose and, if so required or asked, shall not be obliged to disclose for any purpose a conviction that is not part of the person's criminal history or of the criminal history of another person or a charge made against the person or another person.
(3)Subsection (2) does not apply where the requirement or request to disclose a conviction or charge therein referred to is made—
(a)for the purposes of an inquiry being conducted pursuant to authority conferred by or under an Act; or
(b)in criminal or civil proceedings before a court if the fact of the conviction or charge is relevant to an issue in the proceedings or the court has granted permission for the requisition or request to be made.
s 5 amd 1988 No. 58s 9
6Non-disclosure of convictions upon expiration of rehabilitation period
Where the rehabilitation period has expired in relation to a conviction recorded against any person and the conviction has not been revived in respect of the person, neither that person nor any other person, if the person knows that the rehabilitation period has expired, shall disclose the conviction unless—
(a)being the person against whom the conviction is recorded—the person wishes to disclose the conviction; or
(b)the person makes the disclosure under the authority of a permit granted under section 10 in accordance with the conditions (if any) of the permit; or
(c)the person makes the disclosure in circumstances that constitute an exception to the operation of section 9(1) or that are expressed by section 9(2) to be a case to which the provisions of section 9(1) do not apply.
7Section 6 not applicable in certain cases
(1)The provisions of section 6 do not apply in relation to—
(a)a report of judicial proceedings in a recognised series of law reports;
(b)a report or commentary upon judicial proceedings made in good faith for educational, scientific or professional purposes or in the course of historical research or a lecture, course or discussion given or held for any such purpose;
(c)a report or disclosure made by any person who, pursuant to any provision of law, is required to make a report that includes reference to or a disclosure of a conviction referred to in section 6;
(d)a disclosure made in discharge of a duty under the Public Records Act 2002;
(e)a disclosure made under an Act of a record kept by a court or tribunal or an official record of a recording service.
(a)the dissemination into, in or from Queensland by members of a police service (whether of Queensland or elsewhere) or by any other person in discharge of the person's duties within a police department (whether of Queensland or elsewhere) of information concerning any person;
(b)the filing and recording by members of the police service or any other person in discharge of the person's duties within the department that deals with police services of information in the possession of that police force;
(c)the use in police practice, with a view to the prevention of offences or the detection and punishment of offenders, of information in the possession of the police service.
(3)In this section—
official record, of a recording service, means a record made under the Recording of Evidence Act 1962, section 4 by the recording service.
s 7 amd 1993 No. 83s 100; 2002 No. 11s 62sch 1; 2013 Act No. 35s 44
8Lawful to deny certain convictions
(1)Where the rehabilitation period has expired in relation to a conviction recorded against any person and the conviction has not been revived in respect of the person, it is lawful to claim, upon oath or otherwise, that the person has not suffered the conviction, except upon an occasion when, as provided by section 4, this Act is to be construed so as not to prejudice a provision of law or rule of legal practice or to relieve from a responsibility.
(2)Where a person has made a claim declared lawful by subsection (1), evidence shall not be admissible in any proceeding to show the claim to be false.
9Duty to disregard certain convictions
(1)Subject to subsection (2), any person or authority charged with the function of assessing a person's fitness to be admitted to a profession, occupation or calling or for any other purpose shall disregard any conviction that is part of the person's criminal history in relation to which the rehabilitation period has expired and which has not been revived in respect of the person unless—
(a)the person to be assessed is expressly required by law to make disclosure of his or her criminal history; or
(b)the person or authority making the assessment is expressly required by law to have regard to the criminal history of the person to be assessed; or
(c)the person to be assessed is, by reason of section 4, not relieved from responsibility to disclose his or her criminal history.
(2)The provisions of subsection (1) do not apply where an assessment is to be made of an offender with a view to a court, or the Parole Board Queensland established under the Corrective Services Act 2006, making an appropriate order in relation to the person.
s 9 amd 1988 No. 88s 3(1)sch 1; 2000 No. 63s 276sch 2; 2006 No. 29s 518sch 3; 2017 No. 15s 24sch 1
9ADisclosure of particulars in special cases
(1)Notwithstanding any other provision of this Act, a person who is an applicant for a position, office or status specified in column 1 of the following table and who is requested or required in furtherance of the person's application to furnish the information hereinafter in this subsection referred to shall disclose—
(a)the person's criminal history concerning offences specified in column 2 and set opposite the position, office or status applied for; and
(b)convictions recorded against the person in respect of offences specified in column 2 and set opposite the position, office or status applied for, being convictions that pursuant to any law are to be deemed not to be convictions—
Position, office or status
1 Police officer.
1 Contraventions of or failures to comply with any provisions of law, whether committed in Queensland or elsewhere.
1A Persons other than police officers who are engaged or employed in the Queensland Police Service.
Contraventions of or failure to comply with any provisions of law, whether committed in Queensland or elsewhere.
1B External service providers within the meaning of the Police Service Administration Act 1990.
1C Applicants for employment in the Queensland Police Service.
1D Persons performing functions for the Queensland Police Service under a contract for services.
2 Person employed in the department in which the Corrective Services Act 2006 is administered as a corrective services officer under that Act.
3 Justice of the peace or commissioner for declarations.
3 Contraventions of or failures to comply with any provision of law, whether committed in Queensland or elsewhere.
4 Licensee under the Casino Control Act 1982, part 4.
5(1) Employee in the Department of Education as—
(a) a teacher; or
(b) a teacher's aide; or
(c) a member of staff (administrative or ground) at a State school.
(2) An elected member (other than an elected student member), or appointed member, of a school council, within the meaning of the Education (General Provisions) Act 2006.
5 Offences defined in the Criminal Code, chapter 22, 32, 33 or 34 or the Drugs Misuse Act 1986part 2, and contraventions, committed in Queensland or elsewhere, of any provision of law constituting an offence of a similar nature or involving an assault of a sexual nature.
6 A person registered, licensed or approved under the Child Protection Act 1999.
6 Contraventions of any provision of law committed in Queensland or elsewhere.
7A Person employed by TAFE Queensland under the TAFE Queensland Act 2013 as—
(a) an educational administrator; or
(b) a teacher; or
(c) an educational assistant; or
(d) a member of TAFE Queensland's administrative, building or ground staff.
7A(1) An offence defined in the Criminal Code, chapter 22, 32, 33 or 34 or the Drugs Misuse Act 1986, part 2.
(2) An offence of a similar nature committed in Queensland or elsewhere.
(3) An offence of a sexual nature whether committed in Queensland or elsewhere.
8 Person employed at the Queensland Agricultural Training Colleges under the Queensland Agricultural Training Colleges Act 2005 as—
(a) the principal executive officer; or
(b) a director; or
(c) an instructor; or
(d) a member of the administrative, building, domestic or ground staff.
8(1) An offence defined in the Criminal Code, chapter 22, 32, 33 or 34 or the Drugs Misuse Act 1986, part 2.
9 Security provider within the meaning of the Security Providers Act 1993.
9 Contraventions of any law, whether committed in Queensland or elsewhere.
10 Security officer under the State Buildings Protective Security Act 1983.
10 Contraventions of any law, whether committed in Queensland or elsewhere.
11 An applicant for a licence or a licensee under the Prostitution Act 1999.
12 An applicant for an approved manager's certificate or an approved manager under the Prostitution Act 1999.
13 An applicant for an adult entertainment permit under the Liquor Act 1992.
14 An applicant for an approval to be a controller under the Liquor Act 1992.
15 Person employed in the Office of the Director of Public Prosecutions.
16 An applicant for membership of a registered political party.
16 Contraventions of a disqualifying electoral offence within the meaning of the Electoral Act 1992.
17 A candidate for election to the office of chairperson, mayor, president, councillor or member of a local government.
17(1) Contraventions of a disqualifying electoral offence within the meaning of the Electoral Act 1992.
(2) Contraventions of an offence that would be a disqualifying electoral offence within the meaning of the Electoral Act 1992, except that the offender was convicted of the offence before the commencement of the Electoral and Other Acts Amendment Act 2002.
18 A candidate for election as a member of the Legislative Assembly.
20 An applicant for admission to the legal profession under the admission rules made under the Supreme Court of Queensland Act 1991, section 85.
21 An applicant for the consent of the Solicitors' Board to enter articles of clerkship under the Solicitors' Admission Rules 1968.
23 An applicant for appointment as an associate to a Supreme Court judge or a District Court judge.
24 An applicant for the grant of a practising certificate under the Legal Profession Act 2007.
24 Contraventions of any law whether committed in Queensland or elsewhere.
(2)Notwithstanding any other provision of this Act, the commissioner of the police service or a person delegated by the commissioner for the purpose, upon request made by a person having in the opinion of the commissioner or such delegated person a legitimate and sufficient interest in obtaining the information, shall disclose to the person making the request the criminal history and convictions (such as is or are referred to in subsection (1) and is or are contained in the commissioner's records) of a person referred to in subsection (1) where that person would be required by that subsection to disclose such criminal history and convictions.
(3)No provision of this Act shall be construed to render any person liable to punishment or the Crown or any person liable to action at the suit of another—
(a)on account of a disclosure referred to in subsection (2); or
(b)on account of any person having required or sought to be made a disclosure required by subsection (1) or (2) to be made; or
(c)on account of any person having had regard to any particular furnished in a disclosure required by subsection (1) or (2) to be made.
(4)Subsections (1) and (2) shall operate without prejudice to any other provision of this Act that authorises or excuses the disclosure of any particular or that preserves any disclosure of particulars from the operation of any provision of this Act.
s 9A ins 1986 No. 45s 5
amd 1987 No. 32s 69(1) sch; 1988 No. 47s 3(1)sch 1; 1988 No. 88s 3(1)sch 1; 1991 No. 79s 87sch 3; 1991 No. 97s 3sch 2; 1993 No. 76s 3sch 1; 1993 No. 83s 101; 1996 No. 79s 24; 1997 No. 83s 6; 1998 No. 8s 22; 1999 No. 9s 3 sch; 1999 No. 10s 205sch 3; 1999 No. 52s 8; 1999 No. 73s 179sch 3; 2000 No. 23s 293sch 2; 2000 No. 58s 2 sch; 2000 No. 63s 276sch 2; 2002 No. 8s 54; 2002 No. 55s 196sch 1; 2003 No. 92s 24; 2003 No. 63s 60 sch; 2003 No. 55s 35; 2003 No. 88s 11; 2004 No. 11s 596sch 1; 2004 No. 43s 3 sch; 2005 No. 20s 60sch 1; 2005 No. 70s 166sch; 2006 No. 29s 518sch 3; 2006 No. 39s 512(1)sch 1; 2007 No. 24s 770sch 1; 2007 No. 37s 162 sch; 2007 No. 53s 30 sch; 1991 No. 68s 122sch 1C renum as 1991 No. 68s 96sch 4 (amd 2011 No. 45ss 207, 209); 2013 No. 27s 70sch 1pt 2; 2013 No. 62s 68sch 1pt 1; 2014 No. 4s 44sch 1; 2014 No. 25s 223sch 1pt 1
10Permit to disclose convictions
On application made to the Minister in the approved form and the way prescribed under a regulation the Minister, if the Minister is satisfied that the applicant has a legitimate and sufficient purpose for disclosing a conviction such as is referred to in section 6 recorded against any other person, may grant and issue to the applicant a permit to make disclosure of the conviction and may attach to the permit such conditions as the Minister deems appropriate.
s 10 amd 1990 No. 80s 3sch 1; 2004 No. 43s 31
11Revival of convictions
(1)Subject to subsection (2), where a person who has incurred a conviction—
(a)in relation to which the rehabilitation period is running; or
(b)in relation to which the rehabilitation period has expired;
is again convicted for an offence whether in Queensland or elsewhere—
(c)in the case referred to in provision (a)—the rehabilitation period in relation to that conviction shall commence again to run on the date the offender is again convicted and any part of the rehabilitation period that elapsed between that conviction and that date shall be disregarded; and
(d)in the case referred to in provision (b)—that conviction shall be taken to be revived and the rehabilitation period in relation to that conviction shall commence again to run on the date of the revival of that conviction.
(1A)However, if the subsequent conviction is quashed on appeal, the provisions of paragraph (c) or (d) (whichever is appropriate) shall be deemed to have had no application and the other provisions of this Act shall have application as if the subsequent conviction had not been incurred.
(2)Subsection (1) shall not apply where the offence for which a person is subsequently convicted is a simple offence or a regulatory offence or an offence that if committed in Queensland would be a simple offence or a regulatory offence or an offence in respect of which the offender could be dealt with in summary proceedings unless the court by which the person is subsequently convicted is satisfied that, having regard to the public interest, previous convictions recorded against the person, or any of them, should be revived and pronounces accordingly in its order.
(3)Where a court pronounces in its order that 1 or some only of several convictions recorded against a person are to be revived the provisions of subsection (1) shall apply in respect of that conviction or those convictions.
12Offence provision
(1)A person who contravenes any provision of this Act commits an offence against this Act and is liable, on summary conviction, to maximum penalty of 100 penalty units.
(2)A prosecution for a contravention of any provision of this Act shall be upon the complaint of a person authorised in writing in that behalf by the Minister and of no other person.
(3)A document purporting to be an authorisation referred to in subsection (2) shall, in all proceedings, be evidence and, in the absence of evidence to the contrary, conclusive evidence of the matters contained therein.
s 12 amd 1990 No. 80s 3sch 1; 1993 No. 83s 102
13Regulations
(1)The Governor in Council may make regulations for the purposes of this Act.
(2)A regulation may prescribe fees payable for the purposes of the Act.
s 13 sub 1993 No. 83s 103
14Approved forms
The chief executive may approve forms for use under this Act.
s 14 ins 2004 No. 43s 32
15Transitional provision for Penalties and Sentences (Drug and Alcohol Treatment Orders) and Other Legislation Amendment Act 2017
(1)Amended section 3 applies in relation to a conviction whether recorded before or after the commencement.
(2)If, under amended section 3, no rehabilitation period applies in relation to a conviction recorded before the commencement—
(a)any rehabilitation period in relation to the conviction that would otherwise have been capable of running under the pre-amended Act before the commencement is taken not to have run; and
(b)any rehabilitation period in relation to the conviction that would otherwise have expired under the pre-amended Act before the commencement is taken not to have expired.
amended section 3 means section 3 as amended by the Penalties and Sentences (Drug and Alcohol Treatment Orders) and Other Legislation Amendment Act 2017.
pre-amended Act means this Act as in force from time to time before the commencement.
s 15 ins 2017 No. 41s 9


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Monetary and Credit Information Review
I. Monetary Policy
II. Regulation
III. Supervision
IV. Foreign Exchange Management
V. Payment and Settlement Systems
VI. Banker to Government
VII. Financial Markets
VIII. Reports
Volume XVII | Issue 9 | December 2021
MONETARY & CREDIT INFORMATION REVIEW
Note from the Editor
A very Happy and Healthy New Year to our readers.
Welcome to another edition of the Monetary and Credit Information Review (MCIR).
This monthly periodical of the Reserve Bank helps keep abreast with new developments and important policy initiatives taken by the Reserve Bank during the month of December in the world of money and credit. MCIR can be accessed at https://mcir.rbi.org.in as well as by scanning the QR code.
Through this communication tool, we aim to share information, educate, and stay in touch while ensuring factual accuracy and consistency in disseminating the information.
We welcome your feedback at mcir@rbi.org.in
Yogesh Dayal
Resolution of the MPC
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting held on December 8, 2021 decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 per cent. Accordingly, the reverse repo rate under the LAF remains unchanged at 3.35 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 4.25 per cent.
The MPC also decided to continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target going forward. These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth. To read more, please click here.
Statement on Developmental and Regulatory Policies
I. Regulation and Supervision:
a) Infusion of Capital in Overseas Branches and Subsidiaries of Banks and Retention/Repatriation/Transfer of Profits:
On a review, and with a view to provide operational flexibility to banks, it has been decided that banks meeting the regulatory capital requirements may, with the approval of their Boards, infuse capital in their overseas branches and subsidiaries; retain profits in these centres; and repatriate/transfer profits therefrom, without prior approval of RBI, subject to post facto reporting.
b) Review of Prudential Norms for Investment Portfolio of Banks:
In view of the significant developments in the global standards on classification, measurement and valuation of investments, the linkages with the capital adequacy framework as well as progress in the domestic financial markets, there was a need felt to review and update these norms. A discussion paper will be placed on the RBI website for comments.
II. Financial Markets:
Transition from LIBOR to Alternative Reference Rate – External Commercial Borrowings (ECB)/Trade Credit (TC)
In view of the imminent discontinuance of LIBOR, any widely accepted interbank rate or alternative reference rate (ARR) applicable to the currency of borrowing may be used as a benchmark, post discontinuation. To take into account differences in credit risk and term premia between LIBOR and the ARRs, for new foreign currency ECBs and TCs, it is proposed to revise the all-in-cost ceiling from 450 bps to 500 bps and from 250 bps to 300 bps, respectively, over the ARRs.
III. Payment and Settlement Systems
a) Discussion Paper on Charges in Payment Systems:
The Reserve Bank will release a discussion paper to take a comprehensive view of the issues involved in the recovery of costs incurred by entities providing digital payment services from merchants/customers and to ensure that such charges are reasonable. The paper will cover all aspects related to charges involved in various channels of digital payments, such as, credit cards, debit cards, prepaid payment instruments (cards and wallets), UPI, etc. and also seek feedback on issues related to convenience fee, surcharging and the measures required to make digital transactions affordable to users.
b) UPI for Feature Phone Users
A UPI-based payment product for feature phone users is proposed to be launched with the objective to deepen financial penetration and bring feature phone users into the mainstream of digital payments. Feature phone users have limited access to innovative payment products. Although feature phones have NUUP (National Unified USSD Platform) as an option for availing basic payment services using the short code of *99#, the same has not picked up. It is therefore proposed to launch a UPI-based payment product for feature phone users.
c) Simplification of Process Flow for Small Value Transactions over UPI
The Reserve Bank has proposed to ensure simplification of process flow for small value transactions over UPI by enabling small value transactions through an "On-device" wallet in UPI app which will conserve banks' system resources, without any change in the transaction experience for the user. UPI is the single largest retail payment system in the country in terms of volume of transactions (14 crore transactions per day, October 2021). Transaction data analysis shows that 50 per cent transactions through UPI were below ₹200, indicating its success. One of the initial objectives of UPI was to replace cash for low value transactions.
d) Increase in UPI Transaction Limit for Specified Categories
In order to encourage the use of UPI by retail investors, the Reserve Bank has proposed to enhance the transaction limit for payments through UPI for Retail Direct Scheme and Initial Public Offer applications from ₹2 lakh to ₹5 lakh. Separate instructions to NPCI will be issued shortly. The decision is taken with the objective to facilitate greater participation of retail customers in financial markets. Over time, UPI has also become a popular payment option for Initial Public Offerings (IPOs) since its availability from January 01, 2019. It is reported that IPO applications of ₹2 lakh to ₹5 lakh constitute approximately 10 per cent of subscription applications. To read more, please click here.
Capital Infusion/Transfer of Profits to Overseas Branches and Subsidiaries
The Reserve Bank on December 8, 2021 decided that prior approval would not be needed for capital infusion to and transfer/repatriation of profits from overseas branches and subsidiaries by banks which meet the regulatory capital requirements (including capital buffers) in order to provide them greater operational flexibility. Instead, the banks shall seek approval of their boards for the same. However, while considering such proposals, banks shall analyse all relevant aspects including inter alia the business plans, home and host country regulatory requirements and performance parameters of their overseas centres. Banks shall also ensure compliance with all applicable home and host country laws and regulations. Banks which do not meet the minimum regulatory capital requirements shall be required to seek prior approval of the Reserve Bank as hitherto. All instances of infusion of capital and/ or retention/transfer/ repatriation of profits in overseas branches and subsidiaries will have to be reported to the Reserve Bank within 30 days. These regulations shall be applicable to scheduled commercial banks other than foreign banks, small finance banks, payment banks and regional rural banks. To read more, please click here.
SLR and MSF – Return to Normal Dispensation
The Reserve Bank on December 10, 2021 decided that banks would need to return to the normal dispensation on maintenance of Statutory Liquidity Ratio (SLR) and Marginal Standing Facility (MSF). Accordingly, banks will be able to dip into the Statutory Liquidity Ratio (SLR) up to two per cent of net demand and time liabilities (NDTL) instead of three per cent for overnight borrowing under the MSF with effect from January 1, 2022. Earlier, on March 27, 2020 with the objective to mitigate the impact of the COVID-19 pandemic on the Indian economy, the Reserve Bank had raised the borrowing limit of scheduled banks (excluding regional rural bank) under the MSF scheme from 2 per cent to 3 per cent of their NDTL. To read more, please click here.
Minimum Capital Requirements for Operational Risk'
As part of convergence of the Reserve Bank's regulations for banks with Basel III standards, the Reserve Bank on December 15, 2021 released the draft master direction on minimum capital requirements for operational risk for comments of stakeholders and members of public. These directions shall be applicable to all commercial banks (excluding local area banks, payments banks, regional rural banks, and small finance banks). The comments on the draft master directions from all stakeholders may be sent by January 31, 2022 through email. To read more, please click here.
Periodic Updation of KYC
The Reserve Bank on December 30, 2021 extended the provisions of the circular on periodic updation of KYC upto March 31, 2022 in view of the uncertainty posed by the new variant of COVID-19. Through the circular dated May 5, 2021, the Reserve Bank had advised banks and financial entities not to place restrictions on the operations of such customer accounts where periodic updation of KYC is due and pending as on date unless warranted under instructions of any regulator/enforcement agency/court of law, etc. To read more, please click here.
PCA Framework for NBFCs
The Reserve Bank on December 14, 2021 put in place a Prompt Corrective Action (PCA) framework for NBFCs to further strengthen the supervisory tools applicable to NBFCs. The PCA Framework for NBFCs, comes into effect from October 1, 2022, based on the financial position of NBFCs on or after March 31, 2022. In terms of extant regulations, Government NBFCs have been provided time upto March 31, 2022 to adhere to the capital adequacy norms provided for NBFCs. NBFCs have been growing in size and have substantial interconnectedness with other segments of the financial system. The PCA framework was initially introduced by the Reserve Bank for scheduled commercial banks in 2002 with the objective to enable supervisory intervention at appropriate time and require the supervised entities to initiate and implement remedial measures in a timely manner to restore its financial health. The PCA framework is also intended to act as a tool for effective market discipline. The framework does not preclude the Reserve Bank from taking any other action as it deems fit at any time in addition to the corrective actions prescribed in the framework. To read more, please click here.
ECB and TC Policy – LIBOR Transition
The Reserve Bank on December 8, 2021 in consultation with the stakeholders decided to make the following changes to the all-in-cost benchmark and ceiling for foreign currency (FCY) external commercial borrowings (ECB) and Trade Credits (TC) policy in view of the changes due to LIBOR transition:
i) Redefining Benchmark Rate for FCY ECBs and TCs:
Benchmark rate in case of FCY ECB/TC shall refer to any widely accepted interbank rate or alternative reference rate (ARR) of six-month tenor as applicable to the currency of borrowing.
ii) Change in all-in-cost ceiling for new ECBs/ TCs:
To take into account differences in credit risk and term premia between LIBOR and the ARRs, the all-in-cost ceiling for new FCY ECBs and TCs has been increased by 50 bps to 500 bps and 300 bps, respectively, over the benchmark rates.
iii) One Time Adjustment in all-in-cost ceiling for existing ECBs/ TCs:
To enable smooth transition of existing ECBs/ TCs linked to LIBOR whose benchmarks are changed to ARRs, the all-in cost ceiling for such ECBs/ TCs has been revised upwards by 100 basis points to 550 bps and 350 bps, respectively, over the ARR.
There shall be no change in the all-in-cost benchmark and ceiling for INR ECBs/ TCs.
Accordingly, the Reserve Bank advised AD Category-I to bring the contents of this circular to the notice of their constituents/customers. To read more, please click here.
Cross-border Transactions - LEI
The Reserve Bank on December 10, 2021 decided that with effect from October 1, 2022, all AD Cat-1 banks shall obtain the Legal Entity Identifier (LEI) number from the resident entities (non-individuals) undertaking capital or current account transactions of ₹50 crore and above (per transaction) under the Foreign Exchange Management Act, 1999. In case of non-availability of LEI information with regard to non-resident counterparts/ overseas entities, AD, Cat-1 banks may process the transactions to avoid disruptions.
AD Cat-I banks may encourage concerned entities to voluntarily furnish LEI while undertaking transactions even before October 1, 2022. Once an entity has obtained an LEI number, it must be reported in all transactions of that entity, irrespective of transaction size. Further, AD Cat-I banks shall have the required systems in place to capture the LEI information and ensure that any LEI captured is validated against the global LEI database available on the website of the Global Legal Entity Identifier Foundation. To read more, please click here.
Storage of Actual Card Data
The Reserve Bank on December 23, 2021extended the timeline for storing of Card-on-File (CoF) data by six months till June 30, 2022. Post this, such data shall be purged. In addition to tokenisation, industry stakeholders were advised to devise alternate mechanism(s) to handle any use case (including recurring e-mandates, EMI option, etc.) or post-transaction activity (including chargeback handling, dispute resolution, reward / loyalty programme, etc.) that currently involves/requires storage of CoF data by entities other than card issuers and card networks.
As per the guidelines on regulation of payment aggregators and payment gateways, the authorised non-bank payment aggregators and merchants on-boarded by them were prohibited from storing CoF data from June 30, 2021. The timeline was extended upto December 31, 2021. To read more, please click here.
SPSBs Agency Banks
The Reserve Bank on December 15, 2021 announced that in consultation with the Department of Financial Services, Ministry of Finance, Government of India, it had decided to make scheduled payments banks and scheduled small finance banks eligible to conduct Government agency business. Any payment bank or small finance bank that intends to undertake Government agency business may be appointed as an agent of the Reserve Bank upon execution of an agreement with RBI, provided that the overarching regulatory framework prescribed for these banks is complied with. To read more, please click here.
Sale of GoI T-Bills and CM Bills
The Reserve Bank on December 8, 2021 announced that banks which had availed of funds under TLTRO and TLTRO 2.0 will be provided with one more option to prepay the outstanding amount. Banks desirous of exercising the above option are advised to submit their requests via email to the Financial Markets Operation Department, Reserve Bank of India. No request for extension of the time window will be entertained. The Reserve Bank reserves the right to decide the quantum of prepayment and / or to accept or reject any or all the requests, either wholly or partially, without assigning any reason thereof. To read more, please click here.
Financial Stability Report
The Reserve Bank on December 29, 2021 released the 24th issue of the bi-annual Financial Stability Report (FSR). The FSR reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the financial system. The highlights of FSR are as follows:
i) The global economic recovery has been losing momentum in the second half of 2021 in the face of resurfacing COVID-19 infections, the new variant Omicron, supply disruptions and bottlenecks, elevated inflationary levels and shifts in monetary policy stances and actions across advanced economies and emerging market economies.
ii) On the domestic front, progress in vaccination has enabled the recovery to regain traction after the debilitating second wave of the pandemic, notwithstanding signs of slowing pace more recently; the corporate sector is gaining strength and bank credit growth is improving.
iii) The capital to risk-weighted assets ratio (CRAR) of scheduled commercial banks (SCBs) rose to a new peak of 16.6 per cent and their provisioning coverage ratio (PCR) stood at 68.1 per cent in September 2021.
iv) Macro stress tests for credit risk indicate that gross gross non-performing asset (GNPA) ratio of SCBs may increase from 6.9 per cent in September 2021 to 8.1 per cent by September 2022 under the baseline scenario and to 9.5 per cent under a severe stress scenario. SCBs would, however, have sufficient capital, both at the aggregate and individual levels, even under stress conditions.
v) Emerging signs of stress in micro, small and medium enterprises (MSME) as also in the micro finance segment call for close monitoring of these portfolios going forward.
To read the full FSR, please log on to the RBI website by clicking here.
Report on Trend and Progress of Banking
The Reserve Bank on December 28, 2021 released the Report on Trend and Progress of Banking in India 2020-21 a statutory publication in compliance with Section 36 (2) of the Banking Regulation Act, 1949. The report presents the performance of the banking sector, including co-operative banks, and non-banking financial institutions during 2020-21 and 2021-22 so far. The Report also offers some perspectives on the evolving outlook for India's financial sector.
The following are the highlights of the report:
i) During 2020-21, the consolidated balance sheet of scheduled commercial banks (SCBs) expanded in size, notwithstanding the pandemic and the resultant contraction in economic activity. In 2021-22 so far, nascent signs of recovery are visible in credit growth. Deposits grew by 10.1 per cent at end-September 2021 as compared with 11.0 per cent a year ago.
ii) Capital to risk weighted assets (CRAR) ratio of SCBs strengthened from 14.8 per cent at end-March 2020 to 16.3 per cent at end-March 2021 and further to 16.6 per cent at end-September 2021, partly aided by higher retained earnings, recapitalisation of public sector banks (PSBs) and capital raising from the market by both PSBs and private sector banks (PVBs).
iii) SCBs' gross non-performing assets (GNPA) ratio declined from 8.2 per cent at end-March 2020 to 7.3 per cent at end-March 2021 and further to 6.9 per cent at end-September 2021.
iv) Return on assets (RoA) of SCBs improved from 0.2 per cent at end-March 2020 to 0.7 per cent at end-March 2021, aided by stable income and decline in expenditure.
v) Some of the policy measures taken by the RBI in response to the COVID-19 pandemic reached the pre-announced sunset dates in 2021-22. Certain liquidity measures have been wound down as a result, while other regulatory measures have been realigned to avoid extended forbearance and risks to financial stability.
vi) Even though initiation of fresh insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) was suspended for a year till March 2021, it constituted one of the major modes of recovery in terms of amount recovered.
vii) The balance sheet growth of urban co-operatives banks (UCBs) in 2020-21 was driven by deposits, while subdued credit growth led to acceleration in investments. Their financial indicators, including capital position and profitability, improved.
viii) The profitability of state co-operative banks and district central co-operative banks improved in 2019-20, while their asset quality deteriorated.
ix) The consolidated balance sheet of NBFCs expanded during 2020-21, driven by credit and investments of non-deposit taking systemically important NBFCs (NBFCs-ND-SI). Their asset quality and capital buffers also improved.
To read the full report, please visit the RBI website by clicking here.
Edited and published by Yogesh Dayal for Reserve Bank of India, Department of Communication, Central Office, Shahid Bhagat Singh Marg, Mumbai - 400 001. MCIR can be also accessed at https://mcir.rbi.org.in.

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Home » Featured Slider » Sean Nolin Scouting Report: Blue Jays Call Up Lefty
Sean Nolin Scouting Report: Blue Jays Call Up Lefty
By Jared Macdonald
Sean Nolin will make his big league debut less than three years after being drafted. (Original Photo)
After former teammates and other prospects were already congratulating him online, the Blue Jays officially announced last night that left-hander Sean Nolin, the club's sixth round pick in 2010, would make his major league debut tonight at Rogers Centre against the Orioles.
After making his pro debut during his draft year, Nolin worked hard in the offseason to get in better physical shape and slim down. Doing so helped his overall performance on the mound the following year in 2011, when he started to put himself on the radar with the Lansing Lugnuts. There, he tallied a team-leading 113 strikeouts in 108 1/3 innings to go along with 3.49 ERA and 3.16 FIP.
At 6-foot-5 and 230 pounds, Nolin is an imposing figure on the mound with wide hips and long limbs. He throws almost over the top and on a good downhill plane, with good deception as a result of hiding the ball well. It's been reported that his fastball has touched 94-95 miles per hour, but he normally sits 89 to 91 and keeps the ball down in the zone with the ability to paint both the sides of the plate when he wants to.
The first time I saw Nolin last year was in Dunedin on July 29, in his first outing since coming off the 7-day disabled list due to an aggravated lat muscle. On a limit of 40 pitches and coming out of relief for a rehabbing Brandon Morrow, Nolin earned the win after throwing 2 2/3 shutout innings with one walk and a pair of swinging strikeouts.
Nolin had been making waves in Dunedin long before late July, though, as he had already earned Florida State League Pitcher of the Week and Mid-Season All-Star honors thanks to a stellar first half of the season.
Nolin complements his fastball with three secondary offerings, starting with a changeup that sits right around 80 miles per hour, and the pitch is effective low and away to right-handed hitters given its good fade. Add that to a sweeping curveball in the mid-70's and a mid-80's slider with late bite, and Nolin's got a nice arsenal to work with and to keep opposing hitters off-balance.
Darold Knowles, Nolin's pitching coach with Dunedin, liked the southpaw's fastball in particular.
"He's probably a hell of a lot better pitcher than people give him credit for," Knowles said. "He can spot the fastball pretty good, his changeup has been very effective.
"When he gets in trouble he just goes to the fastball and he's been able to spot it. The fact that he's left-handed he can sink it, he can ride it."
Nolin's strong 2012 season continued following a late-season promotion to Double-A New Hampshire, where he allowed only two earned runs in three starts, along with 18 strikeouts to six walks in 15 innings. In addition to facing tougher competition while with the Fisher Cats, Nolin was taught how to throw a new slider, a power version that has a slider grip, but is thrown like a fastball which gives it more depth and biting action.
I was able to take in Nolin's final start with New Hampshire on August 30, where he held a Portland Sea Dogs lineup to just one earned run on two hits over six strong innings. The New York native established his fastball early, generated weak contact throwing his curveball low and inside to right-handers, and mixed in his slider for good measure. He didn't throw his changeup until the third inning, which introduced another weapon to an already confused Sea Dogs team that featured top prospects Jackie Bradley Jr. and Xander Bogaerts.
Nolin retired his final four batters on swinging strikeouts and finished with seven punchouts on the night. Despite the strong outing, one scout said he felt Nolin wasn't ready for the majors but that he had a good feel for four pitches and knew what he was doing on the mound.
Fisher Cats pitching coach Tom Signore was quick to praise the young left-hander, though.
"He's got to trust his stuff, because it's very good. This guy's not far away," Signore said. "He's got a chance to be awfully good. He hasn't been phased by this level at all."
Nolin had no idea until after that also in attendance for the game were Blue Jays general manager Alex Anthopoulos and special assistant Dana Brown, who Anthopoulos said pulled hard for Nolin in the draft room as his "gut-feel" guy back in 2010.
Nolin started this season on the disabled list but has picked up where he left off somewhat in three starts with the Fisher Cats, posting nearly identical numbers to what he put up with New Hampshire last season. After 49 career minor league starts and 246 innings, he's paved his way to The Show.
Jared Macdonald
Jared is the editor-in-chief of JaysProspects. A credentialed media member with each affiliate in Toronto's minor league system, he has seen nearly every Blue Jays prospect in person, using information from coaches, scouts, and players to add to his content on the site. His work has been featured in the Toronto Star and on MLB Trade Rumors, among others.
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Inurance Robocall Mix-Up Brings Rude Awakening to Senior Citizens
YOSHIKAZU TSUNO/AFP/Getty Images
Nate Church
A Massachusetts-based insurance company found themselves on a post-holiday naughty list of 10,000 senior citizens in the wee hours of Tuesday morning.
What was so important that it warranted waking the weary 65+ year-olds from their slumber? Why, automated flu-shot reminders, of course.
Tufts Health Plan promptly issued an apology to those who received the phone call. The reminder was scheduled for a 3pm-5pm window Tuesday afternoon but accidentally occurred twelve hours earlier. Spokeswoman Sonya Hagopian relayed Tufts' regret for the sequence of events to the Patriot Ledger:
It's unfortunate that it happened and I would just want to issue a complete apology to all those who received a phone call. I'm sure it was jarring to be woken up like that and it certainly was not our intent.
The robocalls were a reminder for Tufts Medicare Preferred HMO plan enrollees over the age of 65 to get their flu shot, included in their coverage. According to Hagopian, the "very sparingly" used auto-reminder system was used to successfully execute a similar call a week ago without any issues.
As expected, when you call 10,000 seniors at an ungodly hour of the morning, you're bound to get some return calls. Numerous customers, including Jack Sullivan of Plymouth, called the company to inquire why the call was made so early.
The senior investigative reporter for Commonwealth Magazine and former editor of the Patriot Ledger, Sullivan said the representative asked if he wanted to leave a phone number so someone could return his call. "I told her, no, but can you give me the number of the president so I can give him a call tomorrow morning?" he said.
Hagopian said the insurance provider is making every effort to reach out to those affected by the error. If nothing else, maybe this has raised some sleep awareness?
Follow Nate Church @Get2Church on Twitter for the latest news in gaming and technology, and snarky opinions on both.


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Former Detroit Lion Jessie Lemonier dies at 25
FILE – A nurse talks to a patient in the emergency room at Salem Hospital in Salem, Ore., on Aug. 20, 2021. (AP Photo/Andrew Selsky, File)
Parkinson's disease strikes many more older adults than previously estimated: research
by: Brad Dress, The Hill via Nexstar Media Wire
(The Hill) — Parkinson's disease is more common than previous research has shown, affecting 50% more people annually than past estimates, according to a new study published Thursday in the academic journal Nature.
Prior research estimated 60,000 people in North America annually were diagnosed with Parkinson's disease, but the actual incidence rate is 1.5 times higher at 90,000 per year, according to the study.
⏩ Read today's top stories on wkrn.com
Researchers found the age-related degenerative brain condition was more common than previously known among adults aged 45 and older, and in another age set of 65 and older, while the incidence rate was higher for men than women.
The study's authors called for policymakers to address the growing number of adults in North America affected by Parkinson's disease, noting the economic cost of the disease is $52 billion in the U.S. alone.
"The growth in those diagnosed and living with [Parkinson's disease] underscores the need for policymakers to confront an increasing strain on clinical services," they wrote, "as well as the need to provide additional funding for research that can lead to improved therapies if not an outright cure."
Just 1 in 7 cancer cases diagnosed through screening: research
Researchers analyzed five previous studies of adults with Parkinson's disease that included data through 2012. The authors said the research may be an underestimate and that it had some limitations because it was a retroactive analysis.
Parkinson's disease is the second most common neurodegenerative disease in the U.S. after Alzheimer's disease.
Around one million people in the U.S. currently have Parkinson's disease, a number that is expected to reach 1.2 million by 2030.
'I am done with you': VUMC administrator accused of threatening wife arrested
James Beck, a co-author of the study and a chief scientific officer at the Parkinson's Foundation, said the updated estimates show the greater need to address the degenerative brain disease.
"Knowing this information will allow us to better serve people with Parkinson's and their families and plan for adequate health care services in the future," Beck said in a statement.
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How Trump, Clinton Would Fix the 'Crazy' U.S. Health System
Insurance reforms
Reuters | October 18, 2016 Insurance reforms, Other, Repeal and Replace
Humer and Stephenson
Clinton says she wants to save the best of Obamacare while reducing costs. Trump says it is an expensive "disaster" that is on track to implode in 2017. He wants to replace it with something cheaper.
Trump has proposed getting rid of the exchanges and setting up tax-free health savings accounts for people with high-deductible insurance plans. He has also said he would set up state-based high-risk pools for people with medical conditions that make it hard to get coverage on their own. He also wants to allow companies to sell insurance across state lines to boost competition and drive down prices.
Whoever wins the presidency on Nov. 8 will likely face pressure to move quickly to reshape a healthcare initiative that affects millions of Americans.
How One Conservative State Is Flouting Obamacare
The Health Bill You've Waited For
GOP Leaders Offer Outlines of Plan To Replace Obamacare
Rep. Black: ObamaCare Has Failed You, America. We're Going to Stop the Bleeding
The Four Legs of a New Health-Care System
Here's How Trump's HHS Pick Wants to Replace Obamacare


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Baseball Opening Day: Cubs in Texas; Cardinals in Milwaukee; Sox At KC
The Chicago Cubs and Texas Rangers fell short of expectations in different ways last season. They'll try to open 2019 on a positive note when they meet on Thursday in Arlington, Tex.
Two years after winning the first World Series in 108 years, the Cubs lost the NL wild-card game against the Colorado Rockies last October. They had won 95 regular-season games, but finished second in the Central Division after losing a one-game tiebreaker to the Milwaukee Brewers.
The Rangers lost 95 games last season and finished last in the AL West, 36 games behind the Houston Astros.
Jon Lester struggled during spring training, most recently allowing six runs, nine hits, a walk and a hit batter in four innings against the Rockies.
Lester went 18-6 last season with a 3.32 ERA and made his fifth All-Star team. His dependability has been just as impressive, as he's started at least 31 games in each of the past 11 seasons.
The Cubs will be without shortstop Addison Russell, who is serving a domestic violence suspension and won't be eligible to return until May 3.
Javy Baez will slide over from second base to shortstop, and Ben Zobrist will move to second, where he played 58 games last season in between stints in the outfield.
The Cubs will also be down a key reliever.
Brandon Morrow, who is expected to handle closing duties, will miss at least the first month of the season after undergoing elbow surgery in the offseason. He was shut down in mid-July because of right-biceps inflammation.
Pedro Strop is expected to handle closing duties while Morrow is out.
The Milwaukee Brewers required an additional game to win the Central Division in 2018, then pushed the National League Championship Series to its limit before falling short of booking their first World Series appearance since 1982.
The Brewers look to take a few more steps this season, with the journey beginning against the visiting St. Louis Cardinals on Thursday afternoon in the opener of a four-game series.
Christian Yelich recorded team-leading totals in homers (36), RBIs (110) and batting average (.326) en route to claiming NL Most Valuable Player honors.
Bonafide slugger Paul Goldschmidt was acquired from Arizona in December and recently finalized a new five-year, $130 million extension on Saturday. The 31-year-old joins a Cardinals club that belted 205 homers last season, fourth-best in the NL.
Miles Mikolas tied for the NL lead in wins after posting a superb 18-4 record with a 2.83 ERA in 32 starts last season. The 30-year-old, who was a first-time All-Star last year, posted a 3-0 mark with a 4.01 ERA in four starts against Milwaukee in 2018 after failing to record a decision in his lone previous appearance versus the club.
Hoping to turn disappointing projections into promising reality, the Chicago White Sox and the Kansas City Royals open the 2019 season with plenty to prove.
The two clubs will open with a three-game series in Kansas City, Mo., beginning on Thursday. They finished the 2018 season with two of the three worst records in Major League Baseball. They spent the offseason taking two different approaches to rebuilding, and they'll get to measure progress against one another.
The White Sox tried to spend big money in free agency, looking to add power bats and star power. They were rumored among the pursuers of Manny Machado and Bryce Harper. Both players signed elsewhere, so the White Sox will look to their young core, including Yoan Moncada, Tim Anderson, Reynaldo Lopez and Lucas Giolito, to blend with veterans such as Jose Abreu, John Jay (signed as a free agent) and Yonder Alonso (acquired by trade).
The White Sox finished 62-100, the third worst record baseball. Some computer projections call for them to win 70 games this season, which would mark an eight-win improvement.
Carlos Rodon (6-8, 4.29 ERA last year) will get the start on the mound for Chicago.