Reserve Bank of India

Fintech / Regtech

Indian Government Asks Banks to Ramp Up Cybersecurity Measures

By Ajoy K Das | 29/11/2023

A meeting with banks and payments firms was convened by federal authorities in the wake of recent disruptions at Uco Bank and Bank of Baroda

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.

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.

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.

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.

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.

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.

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”.

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.