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Market Infrastructure
RBI Issues New Guidelines on Outsourcing for Coop Banks
By Editors | 03/07/2021
Cooperative banks should not outsource policy formulation, internal audit, KYC compliance, credit approval and portfolio management.
Capital / Liquidity
RBI Issues New Dividend Distribution Guidelines for NBFCs
By Ranamita Chakraborty | 27/06/2021
The dividend ratio will be capped at 50 to 60 percent of a deposit-taking NBFC’s profits, depending upon the nature of the business.
Securities / Derivatives
SEBI Allows Mutual Funds to Trade IRS for Hedging
By Sanday Chongo Kabange | 22/06/2021
SEBI says mutual fund schemes may enter into plain vanilla interest rate swaps for hedging purposes.
RBI Requires HFCs to Enhance Internal Audit Systems
By Editors | 16/06/2021
All deposit-taking HFCs irrespective of size, and non-deposit-taking HFCs with at least INR 50 billion in assets, have to put in place an RBIA framework.
Securities / Derivatives
RBI Eases Reporting Burden for FPIs Trading in G-Secs
By Ranamita Chakraborty | 11/06/2021
FPIs will have up to three hours after the close of trading to report transactions in government securities on the NDS-OM platform.
RBI Adjusts Resolution Framework to Benefit More Borrowers
By Ranamita Chakraborty | 10/06/2021
More MSMEs, small businesses and individuals will be able to restructure their debt, a measure taken amidst the adverse impacts of India’s second Covid-19 wave.
RBI Issues Final Directions on Certificate of Deposit Issuance
By Ranamita Chakraborty | 09/06/2021
Banks are not allowed to grant loans against CDs, but they are now permitted to buy back CDs before maturity, subject to certain conditions.
Enforcement
RBI Penalises HDFC Over Sale of Non-financial Products
By Editors | 02/06/2021
HDFC violated rules that prohibit banks from entering into any business unrelated to financial services.
AML / KYC
2018 Circular Prohibiting Crypto Dealings Not Valid, RBI Clarifies
By Sanday Chongo Kabange | 01/06/2021
The RBI has clarified that its 2018 circular prohibiting cryptocurrency dealings is no longer valid, and should not be cited or quoted from.
Capital / Liquidity
RBI Warns Banks to Prepare for Higher Provisioning
By Manesh Samtani | 31/05/2021
Banks will need to closely monitor their asset quality in the coming quarters, the RBI said in its annual report.
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