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RBI Eases Limits on FPI Investment in Debt Securities
By Editors | 24/01/2020
RBI has re-opened the ‘voluntary retention route’ for FPI investments in debt, doubling the investment cap. Short-term investment limits have also been eased.
Securities / Derivatives
RBI Permits Gift City Trading of Rupee Derivatives
By Editors | 21/01/2020
The move will help address demands from overseas participants for the availability of better tools to hedge India exposures.
RBI Issues Operational Guidance for UCB Large Exposure Reporting
By Editors | 20/01/2020
Large urban cooperative banks have to report exposures over 50mn rupees to a central repository within one month from the end of each quarter.
Fintech / Regtech
RBI Amends Penalties Framework for Payments System Operators
By Editors | 14/01/2020
The new penalty for violations will be capped at 500,000 rupees, or double the amount of contravention, whichever is higher.
RBI Imposes Restrictions on Another Cooperative Bank
By Editors | 14/01/2020
Sri Guru Raghavendra Sahakara Bank is not allowed to grant or renew loans and advances, make investments, borrow funds or accept fresh deposits.
AML / KYC
RBI Allows Regulated Entities to Use Video-based KYC
By Editors | 10/01/2020
Financial services firms can record video and capture photos of customers presenting their identity document for verification. Electronically-submitted and digitally-signed documents can also be accepted.
Capital / Liquidity
RBI Introduces Supervisory Action Framework for Troubled UCBs
By Editors | 09/01/2020
Under the framework, the RBI will monitor UCBs’ asset quality, profitability and capital, and initiate supervisory action when specific thresholds are breached.
Market Infrastructure
RBI Allows Banks to Offer FX Trading Beyond Market Hours
By Editors | 08/01/2020
The move is aimed at improving the ability of market participants to hedge currency risk in the onshore rupee market to boost domestic trading volumes.
Fintech / Regtech
India’s NPCI Unveils DLT Based Platform to Further Streamline Payments
By Editors | 07/01/2020
The Vajra Platform will enhance data security and transparency, facilitate real-time transactions and reduce reconciliation challenges and processing errors, the NPCI said.
Securities / Derivatives
RBI Expands Scope of Currency Derivatives Reporting Regime
By Editors | 07/01/2020
To date, the reporting framework only required banks to report currency derivatives transactions worth over $1mn. All transactions below this threshold now have to be reported.
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