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Emerging Prudential Risks
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.
Anti-Money Laundering
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.
Cybersecurity
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.
Data Privacy
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.
Fraud, Scams & Cybercrime
RBI Announces Fraud Theme for Fourth Sandbox Cohort
By Mark Johnston | 12/10/2021
The RBI said ‘prevention and mitigation of financial frauds’ will be the theme for the fourth regulatory sandbox cohort.
Resolution & Recovery
UPDATED – RBI to Initiate Insolvency Proceedings at Two NBFCs
By Editors | 06/10/2021
Srei Infrastructure Finance and Srei Equipment Finance owe about INR 180 billion in loans to about 15 banks and INR 100 billion in external borrowings and bonds.
Resolution & Recovery
RBI Removes Indian Overseas Bank From PCA Framework
By Editors | 03/10/2021
The RBI said Indian Overseas Bank is no longer in breach of the PCA parameters. Only Central Bank of India remains under the PCA framework.
Credit Risk
RBI Finalises Guidelines on Loan Sales, Securitisation
By Ranamita Chakraborty | 30/09/2021
The new master directions will help develop India’s securitisation market and help lenders remove loan exposures from their books.
Structural Regulation
RBI Amends FX Rules for Exports to Facilitate LIBOR Transition
By Editors | 29/09/2021
Under the amendment, authorised dealer banks can use ARRs in place of LIBOR for interest payable in export/import transactions.
Structural Regulation
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.
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