Reserve Bank of India

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.

Enforcement

SEBI Settles YES Bank Case of Selective Disclosures

By Editors | 15/09/2021

YES Bank allegedly made selective disclosures regarding its asset quality, and did not disclose regulatory breaches identified by the RBI.

Fintech / Regtech

RBI Opens Applications for Third Sandbox Cohort

By Editors | 15/09/2021

Six entities from the first cohort on retail payments have exited the sandbox. The second cohort on cross-border payments is commencing testing this month.

Fintech / Regtech

Singapore, India to Enable Real-time Cross-border Payments

By Sanday Chongo Kabange | 15/09/2021

The PayNow-UPI linkage will be implemented in July 2022, enabling faster and lower cost fund transfers between Singapore and India.

Capital / Liquidity

RBI Removes UCO Bank From PCA Framework

By Ranamita Chakraborty | 12/09/2021

UCO Bank is no longer in breach of the PCA parameters based on its latest results. Only Indian Overseas Bank and Central Bank of India remain under the PCA framework.

Fintech / Regtech

RBI Account Aggregator Framework Brings Open Banking to India

By Editors | 12/09/2021

Eight banks have joined the account aggregator network, which enables consumers to share financial data with third parties in a safe and secure manner.