Reserve Bank of India

Crypto / Digital Assets

India: Four Public Sector Banks to Run CBDC Pilot

By Editors | 05/09/2022

The RBI has reportedly asked State Bank of India, Punjab National Bank, Union Bank of India and Bank of Baroda to run a CBDC pilot internally.

AML / KYC

Indian Banks Inconsistently Reporting Fraud Incidents to Regulator

By Editors | 31/08/2022

Kotak Mahindra Bank suggests such digital frauds are not being reported by other banks, making its own figures look disproportionately higher.

Big Picture

Better Governance Needed to Promote Bank Soundness: RBI

By Editors | 28/08/2022

A new study suggests public sector banks may need greater autonomy to improve their governance structures.

Fintech / Regtech

RBI Releases Amex from Restrictions Imposed Last Year

By Editors | 26/08/2022

The restrictions imposed on Diners Club and Mastercard for violations of India’s data storage rules have also already been lifted.

Market Infrastructure

India Simplifies Regulatory Framework for Overseas Investment

By Editors | 24/08/2022

The regulatory framework for overseas investment has been aligned with the “current business and economic dynamics”.

AML / KYC

India, Russia Continue to Explore Non-USD Trade Options

By Editors | 23/08/2022

Indian and Russian banks are discussing the use of customised trade accounts and an exchange rate mechanism that will enable trade settlement in rupees and rubles.

AML / KYC

US Concerned India is Routing Russian Oil to New York

By Editors | 22/08/2022

An Indian vessel picked up oil from a Russian tanker at sea, then brought it to an Indian port to be refined and shipped on to New York.

Fintech / Regtech

RBI Consults on Charges Levied in Payment Systems

By Sanday Chongo Kabange | 18/08/2022

The RBI carried out a review of payment system charges, which consumers complain are “high and non-transparent”.

RBI Directs Lenders to Clean Up Debt Collection Practices

By Editors | 15/08/2022

Regulated entities must ensure they and their agents do not resort to intimidation or harassment of any kind against any person in their debt collection efforts.