Reserve Bank of India

Enforcement

RBI Releases Mastercard from Restrictions Imposed Last Year

By Editors | 20/06/2022

Mastercard was barred from onboarding new domestic customers in July last year due to noncompliance with India’s data storage rules.

Securities / Derivatives

RBI Consults on Initial Margin Rules for Uncleared OTC Derivatives

By Manesh Samtani | 20/06/2022

VM rules were proposed in 2020 and will now take effect from 1 December 2022. IM rules are open for comment until 29 July 2022.

Capital / Liquidity

RBI Doubles Lending Limits for Cooperative Banks

By Editors | 19/06/2022

The higher lending caps are intended to account for rising housing prices and customer needs, the RBI said.

Fintech / Regtech

RBI to Allow Credit Cards to Link to UPI System

By Editors | 14/06/2022

Allowing credit cards to link with the UPI will provide consumers more payment options and greater convenience, the RBI said.

Capital / Liquidity

RBI Issues Standard Asset Provisioning Rules for Large NBFCs

By Editors | 09/06/2022

The new provisioning rules are part of a new regulatory framework for NBFCs that takes effect on 1 October.

Fintech / Regtech

RBI Opens Applications for Fourth Sandbox Cohort

By Editors | 06/06/2022

The fourth sandbox cohort will focus on preventing fraud. Eight entities have also been selected to participate in the third cohort on MSME lending.

RBI Directs All Banks to Enable Cardless ATM Withdrawals

By Editors | 26/05/2022

The RBI’s directions are expected to curb frauds like card skimming and cloning. The UPI will be used for customer authorisation.

RBI to Review Customer Service Standards, Regulations

By Editors | 24/05/2022

The committee will identify ways to enhance customer service standards and grievance redress mechanisms in the financial industry.

RBI Assesses Six Applicants Unsuitable for Banks Licensing

By Editors | 22/05/2022

RBI had received 11 applications to set up universal banks and small finance banks. The RBI (Reserve Bank of India) […]