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Fraud, Scams & Cybercrime
India: PMC Bank Managing Director Confesses to Wrongdoing
By Editors | 02/10/2019
PMC Bank’s now-suspended managing director has reportedly confessed that the bank’s loan exposures went unreported for over six years.
Credit Risk
RBI Caps Withdrawals at Failing PMC Bank, Prompting Panic
By Editors | 26/09/2019
The RBI has ordered the troubled cooperative bank to cap withdrawals at 1,000 rupees per account, prompting panic, protests and promises of legal action from customers.
Structural Regulation
Small Finance Banks Rush to Meet RBI Listing Deadline
By Editors | 26/09/2019
A three-year deadline to publicly list is approaching for small finance banks that were granted in-principle licences by the RBI in September 2015.
Data Privacy
RBI Orders Banks, NBFCs to Restrict Access to Credit Data
By Editors | 24/09/2019
Financial institutions in India are known to be giving fintech firms and institutional agents direct access to data from credit bureaus, without customer consent.
Payments & Settlements
RBI Proposes to Directly Regulate Payment Gateways, Aggregators
By Editors | 19/09/2019
The paper proposes that payment gateways and payment aggregators be required to have a minimum net-worth of 1 billion rupees, among other requirements.
Credit Risk
RBI Increases Bank Exposure Limit to NBFCs
By Editors | 17/09/2019
The move aligns bank exposure limits for NBFCs with limits applicable for other types of counterparties, but Fitch says it is unlikely to lead to significant credit flows to the sector.
Credit Risk
RBI Lowers Risk Weight for Consumer Loans
By Editors | 16/09/2019
The move will reduce the amount of capital banks need to set aside as provisioning for consumer loans, effectively reducing the cost of lending.
Anti-Money Laundering
RBI Orders Banks to Review Controls on Internal Accounts
By Editors | 16/09/2019
Transitory accounts at bank branches are being used to provide unauthorised overdrafts to avoid default classification on loans, and to mask unexplained cash deposits.
Structural Regulation
RBI Proposes New Rules for Small Finance Bank Licensing
By Editors | 16/09/2019
Under the new guidelines, payment banks, NBFCs, microfinance institutions and local area banks will be able to convert into small finance banks.
Credit Risk
Global Banks’ India Business Impacted by Large Exposures Rules
By Editors | 13/09/2019
Foreign banks have to maintain sufficient capital in their India entities to increase their exposure to the country, rather than relying on guarantees from their overseas headquarters.
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