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AML / KYC
RBI to Allow Foreign Banks to Store Limited Data Overseas
By Editors | 14/10/2021
Following meetings with foreign banks, the RBI will allow certain static data to be stored in offshore locations for AML and sanctions screening purposes.
Fintech / Regtech
RBI Announces Fraud Theme for Fourth Sandbox Cohort
By Mark Johnston | 12/10/2021
The RBI said ‘prevention and mitigation of financial frauds’ will be the theme for the fourth regulatory sandbox cohort.
UPDATED – RBI to Initiate Insolvency Proceedings at Two NBFCs
By Editors | 06/10/2021
Srei Infrastructure Finance and Srei Equipment Finance owe about INR 180 billion in loans to about 15 banks and INR 100 billion in external borrowings and bonds.
Capital / Liquidity
RBI Removes Indian Overseas Bank From PCA Framework
By Editors | 03/10/2021
The RBI said Indian Overseas Bank is no longer in breach of the PCA parameters. Only Central Bank of India remains under the PCA framework.
Capital / Liquidity
RBI Finalises Guidelines on Loan Sales, Securitisation
By Ranamita Chakraborty | 30/09/2021
The new master directions will help develop India’s securitisation market and help lenders remove loan exposures from their books.
Market Infrastructure
RBI Amends FX Rules for Exports to Facilitate LIBOR Transition
By Editors | 29/09/2021
Under the amendment, authorised dealer banks can use ARRs in place of LIBOR for interest payable in export/import transactions.
Market Infrastructure
IFSCA to Establish International Arbitration Centre in GIFT City
By Ranamita Chakraborty | 24/09/2021
IFSCA chairperson Injeti Srinivas says the authority is close to setting up an International Arbitration Centre in GIFT City.
Securities / Derivatives
RBI Finalises Guidelines for OTC Derivatives Market Makers
By Manesh Samtani | 23/09/2021
The guidelines impose requirements on governance, dealing conduct, risk management, internal control, internal audit and record-keeping.
Capital / Liquidity
India Authorises Sovereign Guarantee for New ‘Bad Bank’
By Editors | 20/09/2021
India’s new National Asset Reconstruction Company will acquire stressed assets through the issuance of tradeable security receipts guaranteed by the government.
AML / KYC
RBI Invites NBFCs to Apply for Aadhaar Authentication Licences
By Editors | 17/09/2021
With a KUA or sub-KUA licence, NBFCs will be able to authenticate client Aadhaar numbers using the e-KYC facility provided by UIDAI.
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