Reserve Bank of India

AML / KYC

India Undergoes National Risk Assessment on ML/TF Risks

By Editors | 07/11/2021

Central agencies including the RBI have been tasked with evaluating sectors that are vulnerable to ML/TF risks. India’s mutual evaluation is expected to take place around May 2022.

Capital / Liquidity

RBI Issues Revised PCA Framework for Weak Banks

By Editors | 03/11/2021

The profitability parameter has been removed in the revised PCA framework, which will also apply foreign banks operating in India through branches or subsidiaries.

Crypto / Digital Assets

India No Longer Likely to Ban Cryptocurrencies – Report

By Ranamita Chakraborty | 29/10/2021

Finance ministry officials have reportedly said that a law for cryptocurrencies could as soon as February 2022, around the time of India’s next general Budget.

RBI Orders Banks to Report Data on Borrower Relationships

By Ranamita Chakraborty | 27/10/2021

The RBI said it has observed “a low level of relationship segment details” in the databases of credit information companies.

Capital / Liquidity

RBI Extends Basel III Rules to All India Financial Institutions

By Ranamita Chakraborty | 26/10/2021

EXIM Bank, NABARD, NHB and SIDBI are increasingly seen as key institutions for promoting the flow of credit to certain economic sectors.

Capital / Liquidity

RBI Finalises New Regulatory Framework for NBFCs

By Editors | 22/10/2021

The RBI is adopting a four-layer approach to regulating NBFCs. The new framework will take effect from 1 October 2022.

AML / KYC

India, US Pledge to Take Stronger Action Against Financial Crime

By Editors | 20/10/2021

Indian finance minister Nirmala Sitharaman and US treasury secretary Janet Yellen also pledged to further engage on climate change.

Enforcement

RBI Penalised StanChart, SBI for Regulatory Violations

By Editors | 18/10/2021

The RBI cited non-compliance with its directions on customer protection, cybersecurity, outsourcing, and reporting.

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.