India

Capital Adequacy

RBI Removes Restrictions on Central Bank of India

By Editors | 21/09/2022

The bank is no longer in breach of the PCA parameters based on figures for the year ended 31 March 2022, the RBI said.

Cloud & Infrastructure

MAS, IFSCA Sign FinTech Cooperation Agreement

By Editors | 20/09/2022

MAS and IFSCA will collaborate to support sandbox experimentation, enable companies to be referred to each other’s sandbox, and promote cross-border testing.

Conduct, Culture & Accountability

SEBI Issues Directions on Circulation of Market Rumours

By Editors | 18/09/2022

Intermediaries are required to prevent rumours and unverified information from being circulated via blogs, chat forums, and messenger sites.

Payments & Settlements

SBI to Facilitate Rupee Mechanism for Exports to Russia

By Editors | 16/09/2022

Russia still has to identify its own corresponding banks to help facilitate trade with India, but this is expected to be announced in the next two weeks.

Alternative Markets

SEBI Probes AIFs Over Non-transparent Practices – Report

By Editors | 15/09/2022

At least 20 alternative investment funds are under scrutiny for practices such as dividend stripping, priority payouts, and opaque valuation policies.

Trading & Investment

RBI Warns Against Use of Unauthorised FX Platforms

By Editors | 12/09/2022

The RBI lists 34 FX trading platforms it says are not authorised to operate in India. The list include FXCM, XTB, TD Ameritrade, eToro, and IG Markets.

Payments & Settlements

Singapore-India Real-time Payments Launch Delayed to December

By Editors | 12/09/2022

At least five Indian banks are reportedly in talks with Singapore’s DBS regarding the PayNow-UPI linkage, which was initially meant to launch in July 2022.

Fraud, Scams & Cybercrime

India Raids Payment Firms in Digital Lending App Probe

By Editors | 06/09/2022

The Enforcement Directorate said digital loan app providers involved in extortion and harassment of members of the public are controlled and operated by Chinese persons.

Data Privacy

RBI Issues New Guidelines on Digital Lending

By Sanday Chongo Kabange | 06/09/2022

The guidelines are applicable to existing customers availing fresh loans and new customers getting onboarded. Existing digital loans must be in compliance by 30 November.