Reserve Bank of India

Structural Regulation

RBI Consults on New Requirements for Benchmark Administrators

By Editors | 18/02/2019

The draft directions under consultation include requirements related to administrators’ minimum net worth, governance arrangements, and organisational structure, among other requirements.

Trading & Investment

India Lifts Corporate Bond Investment Cap for FPIs

By Editors | 17/02/2019

The 20% cap limiting exposures to a single corporate entity was aimed at incentivising FPIs to maintain a portfolio of assets, but market feedback indicates it has instead had a contraining effect.

KYC & CDD

UPDATED – Multiple Indian Banks Penalised for Rule Violations

By Editors | 13/02/2019

The latest penalties involve banks’ non-compliance with RBI directions on the monitoring of borrowers’ end use of loan funds, as well as failures related to KYC/AML compliance.

Structural Regulation

RBI Eyes Holding Company Model for India’s Banks

By Editors | 11/02/2019

The RBI wants banks to operate as subsidiaries of financial holding companies, with other business arms also split off into separate subsidiaries.

Capital Adequacy

Former RBI Governor Speaks Out on Central Bank Autonomy

By Editors | 11/02/2019

Former central bank governor YV Reddy says there is no doubt the government has a claim over the RBI’s reserves, but questions how it is exercising its claim.

Structural Regulation

India to Set Up Unified Regulator for GIFT City Financial Services

By Editors | 07/02/2019

A bill to establish a unified regulator to oversee financial services at India’s GIFT City has been approved by the country’s cabinet.

Anti-Money Laundering

India Launches Money Laundering Probe Against Former ICICI Bank Chief

By Editors | 03/02/2019

India’s Enforcement Directorate will seek to determine if alleged kickbacks generated in loan deals worth $262mn were laundered to create tainted assets.

Credit Risk

RBI Removes Three State Run Banks from PCA Framework

By Editors | 01/02/2019

India’s central bank has removed the Bank of India, Bank of Maharashtra and Oriental Bank of Commerce from lending restrictions under its prompt corrective action framework.

Structural Regulation

India Finance Ministry to Have Greater Say in SEBI Rulemaking

By Editors | 31/01/2019

SEBI regulations may need to be vetted through a separate independent committee constituted by the Ministry of Finance before being passed to the regulator’s own board for approval.