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Fraud, Scams & Cybercrime
Indian Police Lay Charges Against Five in PMC Bank Fraud Case
By Editors | 01/01/2020
The 32,000-page charge sheet lays out charges against three executives from PMC Bank and two promoters of HDIL, which received about 67bn rupees in ‘hidden’ loans.
Credit Risk
UPDATE – RBI Tightens Scrutiny of Urban Cooperative Banks
By Editors | 31/12/2019
The RBI is tightening exposure limits, mandating that a larger proportion of loans come from small borrowers, and requiring bigger UCBs to report large exposures on a quarterly basis.
Structural Regulation
RBI Caps Lenders’ Exposures to P2P Platform Borrowers
By Editors | 28/12/2019
The RBI has set a 5mn rupee cap on the aggregate exposure a lender can have to borrowers on P2P lending platforms, and a 1mn rupee cap for lenders with a net worth under 5mn rupees.
Liquidity Risk
RBI Allows IFSC Banks to Open Foreign Currency Current Accounts
By Editors | 26/12/2019
IFSC Banking Units will be allowed to open foreign currency current accounts for entities operating in Gift City, including non-resident institutional investors and corporate borrowers.
Structural Regulation
India Passes Bill to Establish Unified Regulator for IFSCs
By Editors | 17/12/2019
In addition to regulating Gift City, the new authority will be responsible for any other international financial services centre set up in India in the future.
Payments & Settlements
RBI to Make NEFT System Available 24×7
By Editors | 11/12/2019
From 16 December, the NEFT system will be available on a 24/7 basis, including on holidays with batch settlement every half hour.
Trading & Investment
RBI Relaxes Restriction on Foreign Exchange Hedging
By Editors | 10/12/2019
Residents and non-residents will be allowed to undertake OTC currency derivative transactions up to $10mn without having to evidence underlying exposure.
Capital Adequacy
India Finalises ‘On-Tap’ Licensing Regime for Small Finance Banks
By Editors | 06/12/2019
India’s central bank has issued its final guidelines for ‘on-tap’ licensing of small finance banks, doubling the minimum capital requirement to 2 billion rupees.
Resolution & Recovery
India’s DHFL to Undergo NCLT Bankruptcy Proceedings
By Editors | 03/12/2019
The National Company Law Tribunal has allowed the RBI to start insolvency proceedings against the troubled mortgage lender Dewan Housing Finance Limited under the new bankruptcy rules for financial firms.
Trading & Investment
Indian Exchanges Issue New Framework for Listing Commercial Paper
By Editors | 28/11/2019
The listing framework for commercial papers will lead to more transparency, a better disclosure regime and greater investor protection.
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