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Fintech / Regtech
RBI Grants First In-Principle Approvals for Payment Aggregator Licence
By Editors | 17/07/2022
Razorpay, Pine Labs, Stripe, and 1Pay Mobileware are among those that have received the in-principle approval.
AML / KYC
Why India Does Not Use Sanctions
By Mathew Chemplayil | 12/07/2022
India’s attitudes against isolating Russia arise from its strategic interests with Moscow and a long history as a recipient of sanctions, says Mathew Chemplayil.
AML / KYC
India Enables Rupee Settlement Mechanism for International Trades
By Editors | 12/07/2022
The mechanism allows international trades to be invoiced and settled using the rupee, enabling India to buy Russian oil without US sanctions exposure.
Capital / Liquidity
RBI Announces Measures to Cushion Falling Rupee
By Editors | 09/07/2022
The RBI has exempted FPIs from a cap on investments in government securities and corporate bonds. FPIs can also buy short-duration corporate debt.
Fintech / Regtech
RBI Issues Draft Rules on Managing IT Outsourcing Risks
By Sanday Chongo Kabange | 28/06/2022
Regulated entities don’t require specific approvals to outsource IT services, but appropriate policies and a risk management framework must be in place.
Capital / Liquidity
RBI to Require Banks to Use ECL Approach in Provisioning
By Editors | 28/06/2022
Banks were initially due to use the ECL approach to estimate and provision for credit losses from 1 April 2018, but the RBI had deferred implementation.
RBI Gets Recommendations on Streamlining Regulatory Requirements
By Editors | 25/06/2022
The RBI’s Regulations Review Authority has also recommended the total elimination of paper-based returns.
Fintech / Regtech
RBI 2025 Vision Targets Growth in Digital Payments
By Mark Johnston | 23/06/2022
The vision document outlines plans to introduce a framework for regulating all “significant intermediaries” in the payments ecosystem, as well as regulations for bigtech, fintechs and BNPL.
Crypto / Digital Assets
India: Crypto Exchanges Call on NPCI to Restore UPI Services
By Mark Johnston | 22/06/2022
Since April, Indian crypto exchanges have not been able to accept deposits via the UPI. BACC members are asking for a reversal of the decision.
Securities / Derivatives
SEBI Allows Mutual Funds to Resume Overseas Investing
By Editors | 21/06/2022
In February, SEBI advised mutual funds to halt further investments in foreign stocks to avoid breaching industry-wide regulatory limits.
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