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Data Privacy
RBI Releases Mastercard from Restrictions Imposed Last Year
By Editors | 20/06/2022
Mastercard was barred from onboarding new domestic customers in July last year due to noncompliance with India’s data storage rules.
Market Risk
RBI Consults on Initial Margin Rules for Uncleared OTC Derivatives
By Manesh Samtani | 20/06/2022
VM rules were proposed in 2020 and will now take effect from 1 December 2022. IM rules are open for comment until 29 July 2022.
Credit Risk
RBI Doubles Lending Limits for Cooperative Banks
By Editors | 19/06/2022
The higher lending caps are intended to account for rising housing prices and customer needs, the RBI said.
Cybersecurity
SEBI Enhances Cybersecurity Requirements for Asset Managers
By Editors | 19/06/2022
A new framework that took effect on 15 July requires AMCs to conduct cyber audits twice a year and report incidents within six hours of detection.
Payments & Settlements
RBI to Allow Credit Cards to Link to UPI System
By Editors | 14/06/2022
Allowing credit cards to link with the UPI will provide consumers more payment options and greater convenience, the RBI said.
Credit Risk
RBI Issues Standard Asset Provisioning Rules for Large NBFCs
By Editors | 09/06/2022
The new provisioning rules are part of a new regulatory framework for NBFCs that takes effect on 1 October.
Stablecoins
NYDFS Issues Regulatory Guidance for Stablecoin Issuers
By Editors | 09/06/2022
The guidance outlines criteria specifically addressing stablecoin redeemability, asset reserve requirements, and independent audit requirements.
Fraud, Scams & Cybercrime
RBI Opens Applications for Fourth Sandbox Cohort
By Editors | 06/06/2022
The fourth sandbox cohort will focus on preventing fraud. Eight entities have also been selected to participate in the third cohort on MSME lending.
Sustainable Finance
LuxSE, India INX Announce New MOU, First Dual Listing
By Editors | 02/06/2022
The MOU promises to facilitate listings of Indian sustainable securities on LuxSE, which will help to enhance their visibility to international investors.
Fraud, Scams & Cybercrime
More Chinese Firms Fall Under India Probe for ‘Irregularities’
By Editors | 02/06/2022
The MCA says it has received information that indicates potential violations including fraud by Chinese companies operating in India.
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