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Trading & Investment
RBI Permits Gift City Trading of Rupee Derivatives
By Editors | 21/01/2020
The move will help address demands from overseas participants for the availability of better tools to hedge India exposures.
Credit Risk
RBI Issues Operational Guidance for UCB Large Exposure Reporting
By Editors | 20/01/2020
Large urban cooperative banks have to report exposures over 50mn rupees to a central repository within one month from the end of each quarter.
Payments & Settlements
RBI Amends Penalties Framework for Payments System Operators
By Editors | 14/01/2020
The new penalty for violations will be capped at 500,000 rupees, or double the amount of contravention, whichever is higher.
Credit Risk
RBI Imposes Restrictions on Another Cooperative Bank
By Editors | 14/01/2020
Sri Guru Raghavendra Sahakara Bank is not allowed to grant or renew loans and advances, make investments, borrow funds or accept fresh deposits.
KYC & CDD
RBI Allows Regulated Entities to Use Video-based KYC
By Editors | 10/01/2020
Financial services firms can record video and capture photos of customers presenting their identity document for verification. Electronically-submitted and digitally-signed documents can also be accepted.
Supervision & Enforcement
RBI Introduces Supervisory Action Framework for Troubled UCBs
By Editors | 09/01/2020
Under the framework, the RBI will monitor UCBs’ asset quality, profitability and capital, and initiate supervisory action when specific thresholds are breached.
Trading & Investment
RBI Allows Banks to Offer FX Trading Beyond Market Hours
By Editors | 08/01/2020
The move is aimed at improving the ability of market participants to hedge currency risk in the onshore rupee market to boost domestic trading volumes.
Payments & Settlements
India’s NPCI Unveils DLT Based Platform to Further Streamline Payments
By Editors | 07/01/2020
The Vajra Platform will enhance data security and transparency, facilitate real-time transactions and reduce reconciliation challenges and processing errors, the NPCI said.
Trading & Investment
RBI Expands Scope of Currency Derivatives Reporting Regime
By Editors | 07/01/2020
To date, the reporting framework only required banks to report currency derivatives transactions worth over $1mn. All transactions below this threshold now have to be reported.
Structural Regulation
RBI Names Six ‘Significant’ Financial Benchmarks
By Editors | 06/01/2020
Financial Benchmarks India Pvt Ltd has three months to make an application to the RBI for authorisation to continue administering the benchmarks.
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