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Reserve Bank of India
Securities / Derivatives
RBI Issues Draft Framework for Electronic Trading Platforms
By Ajoy K Das | 02/05/2024
ETPs operated from outside India by an operator incorporated outside India may seek authorisation to provide platform access to Indian residents.
Fintech / Regtech
RBI Removes Ban on Lending Products by Bajaj Finance
By Ajoy K Das | 02/05/2024
The RBI had directed Bajaj Finance, one of India’s largest consumer lenders, to stop disbursing loans under two lending products in November.
RBI Directs Lenders to Repay Customers for “Excess” Interest
By Ajoy K Das | 01/05/2024
Lenders are directed to refund excess interest, review existing practices, and make system level changes to prevent unfair interest charges.
Securities / Derivatives
RBI Allows SFBs to Hedge with Interest Rate Derivatives
By Ajoy K Das | 30/04/2024
Until now, small finance banks have only been permitted to use interest rate futures for hedging.
Capital / Liquidity
RBI Sets Guidelines for SFBs to Transition into Universal Banks
By Ajoy K Das | 30/04/2024
Small finance banks can apply to transition into universal banks, subject to them meeting certain conditions.
Fintech / Regtech
RBI Issues Draft Guidelines for Loan Aggregation Services
By Ajoy K Das | 29/04/2024
The RBI said borrowers may not know the identity of potential lenders when using loan aggregation services.
Securities / Derivatives
India Amends FX Rules to Facilitate Direct Listings in GIFT City
By Ajoy K Das | 29/04/2024
The regulations make clear that firms raising funds through direct GIFT City listings can hold the proceeds in foreign currency accounts outside India.
AML / KYC
RBI Plans to Allow Banks Autonomy to Freeze Suspicious Accounts
By Ajoy K Das | 29/04/2024
The RBI plans to allow banks to suspend suspicious accounts without having to wait for a police complaint to be registered.
Capital / Liquidity
RBI Raises Net Owned Funds Requirement for ARCs
By Ajoy K Das | 25/04/2024
Existing asset reconstruction companies will have until 31 March 2026 to meet the $36mn net owned funds requirement.
Enforcement
RBI Imposes Business Restrictions on Kotak Mahindra Bank
By Ajoy K Das | 25/04/2024
The bank is prohibited from onboarding new customers and issuing fresh credit cards due to long-standing IT risk management deficiencies.
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