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Market Infrastructure
RBI Issues Outsourcing Framework for Payment System Operators
By Sanday Chongo Kabange | 05/08/2021
Payment system operators may not outsource core management functions such as risk management, internal audit and KYC compliance.
Market Infrastructure
RBI Opens RTGS, NEFT to Non-bank Payment System Providers
By Editors | 29/07/2021
Prepaid payment instruments, white label ATM operators and card networks can now connect to the RTGS and NEFT systems.
Fintech / Regtech
RBI Working Towards Phased Implementation of CBDC
By Sanday Chongo Kabange | 25/07/2021
Like other central banks, the RBI has been exploring a CBDC and is now examining use cases which could be implemented with little or no disruption.
Capital / Liquidity
Indian Banks Set to Apply for ‘Bad Bank’ Operating Licence
By Ranamita Chakraborty | 21/07/2021
The bad bank will be 51% owned by public sector banks. The remaining shares will be owned by private sector lenders.
Market Infrastructure
Axis Bank Announces First Derivative Transaction Linked to SOFR
By Ranamita Chakraborty | 17/07/2021
SOFR is expected to be the most widely accepted benchmark rate used to replace LIBOR and MIFOR in India.
RBI Grants In-principle Approval for PMC Bank Takeover
By Sanday Chongo Kabange | 16/07/2021
The RBI has given Centrum Financial Services in-principle approval to set up a small finance bank to take over PMC Bank.
Capital / Liquidity
RBI Proposes Changes to UCB Fundraising Norms
By Ranamita Chakraborty | 15/07/2021
Primary UCBs can issue equity shares, perpetual or redeemable preference shares, perpetual debt instruments, and long-term subordinated bonds.
Enforcement
RBI Imposes Restrictions on Mastercard Over Data Storage
By Editors | 15/07/2021
The action may hamper the ability of private banks to issue new cards to customers in the near term due to their exclusive tie-ups with Mastercard.
Securities / Derivatives
RBI Issues Guidelines on Retail Access to Government Securities
By Editors | 14/07/2021
Retail investors will be able to open an account directly with the central bank to gain access to primary issuance and secondary trading in government securities.
Enforcement
RBI Penalises Fourteen Banks Over NBFC Lending
By Editors | 12/07/2021
The banks include Credit Suisse, Central Bank of India, SBI, Bank of Baroda, Bank of Maharashtra, IndusInd Bank, and Indian Bank, among others.
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