Reserve Bank of India

Cybersecurity

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

Credit Risk

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.

Structural Regulation

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.

Conduct, Culture & Accountability

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.

Payments & Settlements

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.

Cybersecurity

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.

Credit Risk

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.

Payments & Settlements

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”.

Supervision & 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.