Reserve Bank of India

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    Capital / Liquidity

    RBI Governor Cautions Against ‘Credit Exuberance’

    By Ajoy K Das | 23/11/2023

    RBI governor Shaktikanta Das said concentrated linkages between banks, NBFCs and fintechs may create a contagion risk.

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    Fintech / Regtech

    Indian Microfinance Body Calls Out Regulatory Gap in Fintech Lending

    By Ajoy K Das | 22/11/2023

    India’s MicroFinance Institutions Network has asked the RBI to intervene to ensure fintech lenders comply with microfinance regulations.

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    Enforcement

    RBI Undertakes Review of Penalty Framework – Report

    By Ajoy K Das | 21/11/2023

    The RBI is considering options for linking penalties to the size of regulated entities, as well as clawing back executive remuneration.

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    AML / KYC

    RBI Allows Banks to Give Exporters Extra Flexibility in Trade Transactions

    By Ajoy K Das | 20/11/2023

    Banks maintaining special rupee vostro accounts are permitted to open an additional special current account for exporters.

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    Fintech / Regtech

    India’s UCO Bank Calls in Federal Investigators to Probe Payments Disruption

    By Ajoy K Das | 19/11/2023

    The CBI is being called in to investigate a possible cyber-attack or manipulation of the state-owned bank’s internal systems.

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    Capital / Liquidity

    RBI Increases Consumer Credit Risk Weights for Banks, NBFCs

    By Ajoy K Das | 17/11/2023

    Banks and NBFCs will have to set aside more capital against personal loans and credit card receivables, and tighten their credit standards.

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    India-Thailand Payments Link to be Announced “Soon” – Report

    By Ajoy K Das | 16/11/2023

    India’s ambassador to Thailand, Nagesh Singh, said negotiations have been underway and there will very soon be “good news”.

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    Enforcement

    RBI Takes First Action Against Non-Compliance With Digital Lending Guidelines

    By Ajoy K Das | 16/11/2023

    The RBI said Bajaj Finance did not issue the Key Fact Statements to borrowers as required under its digital lending guidelines issued in September 2022.

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    Fintech / Regtech

    RBI Seeking to Explore Linkage Between UPI and Japan

    By Ajoy K Das | 12/11/2023

    RBI governor Shaktikanta Das said a fast payment linkage between India and Japan could help make cross-border payments more efficient and less costly.

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    Fintech / Regtech

    RBI Report Highlights Growing Role of Fintech in Providing Credit

    By Ajoy K Das | 09/11/2023

    Regulation needs to be quick and nimble to promote access and growth while ensuring financial stability, the report says.

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