Reserve Bank of India

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    India Proposes Collateral Rules for Cross-border Reinsurance Transactions

    By Ajoy K Das | 24/02/2024

    IRDAI said the proposed requirements would protect the interest of the policyholders and insurers as well as promote a healthy and robust insurance ecosystem.

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    AML / KYC

    RBI Directs Card Networks to Stop Facilitating Certain B2B Payments

    By Ajoy K Das | 19/02/2024

    Card networks should not enable businesses to use fintech players as intermediaries to make card payments to non-card accepting recipients.

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    Fintech / Regtech

    RBI Defers Effective Date of Paytm Payments Bank Restrictions

    By Editors | 18/02/2024

    The deferral is to allow customers more time to make alternative arrangements. RBI also released FAQs to clarify the impacts of the restrictions.

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    Fintech / Regtech

    India, Nepal Ink Pact to Integrate Fast Payments Systems

    By Ajoy K Das | 16/02/2024

    The RBI has agreed to interlink the UPI with its counterpart in Nepal to enable instant and lower cost cross-border remittances.

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    Securities / Derivatives

    RBI Allows Banks at GIFT City to Trade on Bullion Exchange

    By Ajoy K Das | 13/02/2024

    Branches of domestic banks in GIFT City can be trading members of IIBX but not for proprietary trades.

    Securities / Derivatives

    India: RBI Deputy Governor Urges NBFCs to Monitor P2P Lending

    By Ajoy K Das | 13/02/2024

    Deputy Governor M Rajeshwar Rao cautioned that shady business practices and breach of licensing conditions in P2P lending in NBFCs were not acceptable.

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    Fintech / Regtech

    India Launches UPI Services in Sri Lanka and Mauritius

    By Ajoy K Das | 13/02/2024

    Mauritius is the first country outside Asia where banks will be able to issue RuPay cards, and the first African country to connect to the UPI.

    RBI Increases Cap on Remuneration of Bank Executives

    By Ajoy K Das | 13/02/2024

    The higher cap applies to all private sector banks, including small finance banks, payment banks, and wholly-owned subsidiaries of foreign banks.

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    Crypto / Digital Assets

    RBI to Enable CBDC Programmability, Offline Functionality

    By Ajoy K Das | 10/02/2024

    RBI statement also said it will introduce a new principle-based framework for the authentication of digital payment transactions.

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    Fintech / Regtech

    India: Industry Body to Publish Whitelist of Digital Lenders

    By Ajoy K Das | 09/02/2024

    The Digital Lenders’ Association of India said borrowers will be able to use the list to protect themselves against scammers and fake apps.

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