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Fraud, Scams & Cybercrime
Deloitte Indian Unit Under Investigation in IL&FS Case
By Editors | 16/04/2019
A letter from a whistleblower at Deloitte’s local India unit has triggered a malpractice investigation into its role as auditor for the troubled IL&FS group.
Payments & Settlements
India to Strengthen Digital Payments with Blockchain
By Editors | 15/04/2019
The National Payments Corporation of India is soliciting interested partners to build a blockchain-powered digital payments platform for the country.
Payments & Settlements
RBI to Unify Complaints Handling for Digital Payments
By Editors | 10/04/2019
The RBI plans to speed up customer complaint processing and redressal times across all domestic payment platforms by end-June.
Market Risk
RBI Defers Mandatory Pegging of Loan Rates to External Benchmarks
By Editors | 08/04/2019
The RBI has deferred a requirement for banks to link loan rates to external benchmarks, citing difficulties the change presents to banks’ interest rate risk management.
Trading & Investment
RBI to Allow Non-Residents to Trade Interest Rate Derivatives
By Editors | 07/04/2019
Under draft rules, non-resident retail investors can hedge through interest rate derivatives; non-retail investors can participate for other specified purposes.
Credit Risk
RBI to Draw Up New Guidance on Bad Debt Resolution
By Editors | 05/04/2019
The central bank will have to issue a revised circular for banks on bad debt resolution after a February 2018 circular was invalidated by the Supreme Court this week.
Credit Risk
Vijaya, Dena Banks Start Operating as Bank of Baroda Branches
By Editors | 01/04/2019
The state-backed three-way merger of Vijaya Bank, Dena Bank and Bank of Baroda has taken effect, creating India’s third largest lender.
Fraud, Scams & Cybercrime
India’s PNB Fined for Non-Compliance with SWIFT Norms
By Editors | 27/03/2019
The fine is significant because it was at Punjab National Bank where the $1.8b fraud occurred that prompted the RBI’s order for banks to link their core systems with SWIFT.
Cloud & Infrastructure
RBI to Issue Regulatory Sandbox Guidelines Within 2 Months
By Editors | 26/03/2019
The RBI will set up a regulatory sandbox and create an ecosystem which promotes collaboration in fintech, central bank governor Shaktikanta Das said on Monday.
Credit Risk
RBI Again Defers Banks’ Implementation of New Accounting Standards
By Editors | 25/03/2019
The RBI has again deferred ‘until further notice’ the implementation of new accounting rules for banks, which could have forced banks to raise bad loan provisions by $16bn in H2, said Fitch.
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