Reserve Bank of India

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    AML / KYC

    Bank of Baroda Ordered to Halt Mobile App Onboarding

    By Editors | 13/10/2023

    The action comes after it was reported in July that some bank employees onboarded fake customers to meet sign-up targets.

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    Capital / Liquidity

    RBI to Extend PCA Framework to Government NBFCs

    By Editors | 12/10/2023

    The RBI will extend the PCA framework to government NBFCs, except those in the “base layer”, from 1 October 2024.

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    Fintech / Regtech

    RBI Allows Banks to Introduce Card Token Facilities

    By Editors | 09/10/2023

    Card token creation has until now only been available through merchant applications or websites, not issuer banks.

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    Market Infrastructure

    India, UAE Sign Agreement to Interlink Payment Systems

    By Editors | 09/10/2023

    India will interlink the UPI with the UAE’s Instant Payments Platform. The RuPay switch and UAESWITCH card switches will also be interlinked.

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    Capital / Liquidity

    RBI Forms Working Group to Develop ECL Framework for Banks

    By Manesh Samtani | 06/10/2023

    The working group will help develop design principles for banks’ credit risk models and recommend an independent validation methodology.

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    Enforcement

    Indian Lawmakers Demand Parliamentary Probe into Adani Group

    By Mark Johnston | 29/09/2023

    The Congress party says SEBI is reluctant to investigate the allegations against the Adani Group, one of the largest conglomerates in India.

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    RBI Revises Guidelines on Identification of ‘Wilful Defaulters’

    By Editors | 22/09/2023

    Lenders will have just six months after an account is categorised as non-performing to classify the borrower as a wilful defaulter.

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    Capital / Liquidity

    RBI Extends Basel III Requirements to National Financial Institutions

    By Editors | 22/09/2023

    The five All India Financial Institutions will have to comply with Basel III capital adequacy requirements from April 2024.

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    RBI Expands Scope of Data Quality Benchmarking Requirements

    By Editors | 21/09/2023

    Credit information companies directed to establish data quality index for commercial and microfinance segments.

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    Capital / Liquidity

    RBI Revises Norms for Banks’ Investment Portfolios

    By Manesh Samtani | 15/09/2023

    The RBI said the revisions will enhance the quality of financial reporting, bolster the corporate bond market, and strengthen bank risk management.

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