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Capital / Liquidity
RBI Defers Implementation of NSFR, Final Tranche of CCB
By Editors | 02/10/2020
The delays are a result of “continuing stress on account of Covid-19”, giving banks a further six months until 1 April 2021 to meet the higher requirements.
India: Parliament Passes Bill on Cooperative Bank Supervision
By Editors | 22/09/2020
The bill is aimed at protecting depositors and allows the RBI to restructure a cooperative bank without a moratorium period.
Crypto / Digital Assets
India Contemplates Law Banning Cryptocurrency Trading
By Sanday Chongo Kabange | 17/09/2020
The government will still encourage blockchain, and is exploring its use to manage land records, pharmaceutical supply chains and educational records.
Securities / Derivatives
India to Introduce New Interest Rate Derivatives Products
By Editors | 16/09/2020
The new products will be accessible to FPIs as well as non-residents transacting with Indian market makers through intermediaries.
Capital / Liquidity
RBI Orders Banks to Automate Asset Classification, Provisioning
By Editors | 16/09/2020
The RBI has given banks until 30 June 2021 to upgrade their systems to automate all asset classification, provisioning calculation and income recognition processes.
RBI Sets Out Guidelines on Bank Compliance Function
By Editors | 13/09/2020
The guidelines are aimed at ensuring a uniform approach with regard to compliance and risk management culture across the banking industry.
Capital / Liquidity
India Supreme Court Temporarily Extends Borrower Relief
By Editors | 11/09/2020
The extension gives the government two weeks to decide on whether to extend a loan moratorium for borrowers and whether an interest waiver is warranted.
Capital / Liquidity
RBI Issues Framework for Covid-related Loan Restructuring
By Editors | 09/09/2020
The framework sets out sector-specific floor and ceiling thresholds for five financial ratios that lenders mandatorily have to consider when restructuring loans.
Enforcement
India’s Enforcement Directorate Fines StanChart $13.6mn
By Editors | 08/09/2020
Standard Chartered escrow accounts were used in 2007 to transfer shares in Tamilnad Mercantile Bank to overseas investors without the RBI’s permission.
Securities / Derivatives
SEBI Revises Mutual Fund Side Pocketing Standards
By Sanday Chongo Kabange | 08/09/2020
Previously, only debt securities downgraded below investment grade can be side pocketed. Side pocketing will be allowed for even higher-rated debts that are restructured due to Covid-19.
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