Reserve Bank of India

Cybersecurity

Cost Not A Factor in Ensuring Cyber Security – RBI

By Garima Chitkara | 20/08/2018

Market participants should not consider cost savings when formulating cyber security measures, said RBI governor Urjit Patel while launching digital payments platform UPI 2.0.

Fraud, Scams & Cybercrime

India’s Cosmos Bank Suffers $13mn Theft

By Manesh Samtani | 16/08/2018

Attackers used cloned cards to simultaneously withdraw cash from ATMs in 28 countries, along with a fraudulent SWIFT transfer two days later.

Market Abuse

Market Conduct Committee Calls for Greater Enforcement Powers for SEBI

By Garima Chitkara | 13/08/2018

A committee looking at fair market conduct has proposed greater powers for SEBI to go after insider trading, including the power to intercept phone and electronic communications.

Supervision & Enforcement

RBI Should Have Sole Supervisory Responsibility for PSBs – IMF

By Garima Chitkara | 13/08/2018

In its India Staff Report, IMF brought up the issue of dual regulation of state run banks and called for full supervisory control of these banks to be given to the RBI.

Capital Adequacy

Indian Government Urges RBI to Ease Bank Capital Rules

By Editors | 10/08/2018

Under Basel III rules, banks would need to hold CET1 capital of 4.5% of RWAs, compared to the 4.5% now required of Indian banks.

KYC & CDD

RBI Probes KYC/AML Compliance at Payments Banks

By Editors | 06/08/2018

Paytm and Fino Payments Bank have been barred from accepting new clients due to the RBI’s concerns about their adherence to KYC/AML norms.

Credit Risk

Indian Banks Gear Up for RBI’s Second Asset Quality Review

By Garima Chitkara | 02/08/2018

RBI has reportedly sought details of specific stressed asset accounts to ensure recognition and provisions are in line with regulatory norms; S&P Global says current cycle of bad loans is likely to reverse within next financial year.

Trading & Investment

RBI Expands List of Eligible Government Bonds Short Sellers

By Garima Chitkara | 30/07/2018

RBI has allowed any entity with approval from a financial regulator to undertake short selling in government securities in addition to the current list of eligible short sellers.

Market Abuse

UPDATED – US SEC Intensifies Probe into India’s NYSE-Listed ICICI Bank

By Manesh Samtani | 28/07/2018

SEC officials have questioned two of the bank’s top executives on whistle blower allegations that loan provisioning was unfairly delayed to inflate profits by $1.3bn over eight years.