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.