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Capital / Liquidity
India Announces Support for Banks in Budget for New Fiscal Year
By Editors | 02/02/2021
The budget includes the establishment of a ‘bad bank’ to take over banks’ bad assets and a plan to inject INR 200 billion into state lenders.
Crypto / Digital Assets
India Set to Introduce Bill Banning Private Cryptocurrencies
By Editors | 01/02/2021
The proposed bill will also provide for the creation of a framework for an official digital currency that will be issued by the RBI.
RBI Enhances Rules for Banks’ Grievance Redress Mechanisms
By Editors | 30/01/2021
The framework provides a mechanism for the ombudsman to recover the cost of redressal from banks whose complaints exceed their peer group average.
Market Infrastructure
Policy Rethink Needed to Promote Green Finance Development in India
By Manesh Samtani | 27/01/2021
India needs a policy framework that addresses existing frictions at both the national and state levels, says a new paper from the RBI.
Capital / Liquidity
RBI Proposes New Regulatory Approach to Contain NBFC Risks
By Editors | 25/01/2021
About 25 to 30 NBFCs considered systemically significant will have to maintain a 9% CET1 ratio and be subject to a range of other bank-like regulatory requirements.
Capital / Liquidity
RBI Warns of Deteriorating Asset Quality, Capital Buffers
By Editors | 14/01/2021
Stress tests indicate 4 banks may fail to meet minimum capital requirements by September 2021 under the baseline scenario.
Fintech / Regtech
RBI to Explore New Regulatory Approach to Digital Lenders
By Editors | 14/01/2021
A new working group has been formed to study the risks of digital lending activities and recommend regulatory changes to enhance consumer protection and data security.
Market Infrastructure
RBI Directs Banks to Enhance Internal Audit Function
By Editors | 12/01/2021
Banks are encouraged to adopt the international standards for internal audit, such as those issued by the BCBS or the Institute of Internal Auditors.
AML / KYC
RBI Mandates LEI Use for Large Payments via RTGS, NEFT
By Manesh Samtani | 06/01/2021
From 1 April 2021, all non-individual bank customers initiating or receiving transactions over 500m rupees via the RTGS or NEFT systems will need an LEI.
AML / KYC
RBI Announces Extension of KYC Registry to Legal Entities
By Editors | 22/12/2020
The RBI said regulated entities should upload KYC data pertaining to accounts of legal entities to the Central KYC Registry from 1 April 2021.
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