Reserve Bank of India

AML / KYC

India Mulls Tracking for All Non-Cash Financial Transactions

By Garima Chitkara | 12/07/2018

India’s central bank is looking to create a repository of all non-cash financial transactions to widen the government’s crackdown on money laundering or shell company activities.

Securities / Derivatives

SEBI Raises Outbound Investment Limit For Some Investment Funds

By Garima Chitkara | 05/07/2018

Limit for alternative investment funds and venture capital funds for investments outside of India raised to $750m from $500m.

Crypto / Digital Assets

India’s Supreme Court Upholds RBI Crypto Ban

By Emma Zhou | 05/07/2018

RBI ban on financial institutions providing services to companies and individuals dealing in cryptocurrencies was upheld by the Supreme Court on Tuesday; next hearing scheduled for 20 July.

Capital / Liquidity

India’s IDBI Bank to Receive Lifeline from State-run Insurer

By Garima Chitkara | 02/07/2018

India’s insurance regulator has approved the acquisition of a 51% stake in IDBI Bank by Life Insurance Corp, in a deal worth $1.9bn; The bank had more than a quarter of its loan book marked as non-performing at March 2018.

Enforcement

India Cracks Down on Bank Auditors

By Garima Chitkara | 02/07/2018

RBI has introduced a framework to define lapses in bank auditor conduct and reporting as well as enforcement action to be taken as a result of such lapses.

Capital / Liquidity

RBI Report Paints Gloomy Picture for India’s Banking Sector

By Manesh Samtani | 02/07/2018

Stress tests indicate NPA ratios at Indian banks to fall to lowest level since year 2000; Public sector banks to be hit the hardest, with six expected to experience capital shortfall.

Crypto / Digital Assets

India Reverses Stance on Cryptocurrency?

By Emma Zhou | 27/06/2018

India official says the government will release new cryptocurrency regulatory framework next month; Supreme Court brings forward hearings on petitions challenging earlier RBI ban.

Market Infrastructure

RBI Directs Banks to Upgrade Security Amid Rising ATM Fraud

By Manesh Samtani | 26/06/2018

Banks instruct banks and white-label ATM operators to upgrade ATM security in a phased manner until June 2019, threatening enforcement action for noncompliance.

Market Infrastructure

India Proposes LEI Rules For All Financial Transactions

By Garima Chitkara | 25/06/2018

RBI releases draft rules which would require the use of LEIs for non-derivatives transactions, having already announced a phasing in for OTC derivatives markets.