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Fintech / Regtech
RBI Issues Guidelines on Use of Digital Lending Platforms
By Editors | 26/06/2020
Digital lending platforms often do not disclose the name of the bank or NBFC providing the loaned funds. Under the new rules they will have to.
Capital / Liquidity
RBI Unveils Regulatory Framework for Housing Finance Companies
By Editors | 19/06/2020
The new framework introduces enhanced capital and liquidity requirements for HFCs, and restrictions on intra-group exposures, among other changes.
Crypto / Digital Assets
India Considers Next Steps to Regulate Cryptocurrency
By Editors | 17/06/2020
Market commentators believe that a recent Supreme Court decision has prompted the government to work towards a new regulatory approach, rather than an outright ban.
Enforcement
India Proposes to Decriminalise Bounced Cheques
By Editors | 15/06/2020
Currently in India, bounced cheques can carry a jail sentence of up to two years and a fine up to twice the value of the cheque, or both.
Market Infrastructure
RBI Reassesses Ownership, Control, Governance at Private Sector Banks
By Editors | 15/06/2020
The RBI has released a discussion paper proposing reforms to improve bank governance, and has formed a working group to review rules on private sector bank ownership and control.
Market Infrastructure
RBI Updates Oversight Framework for FMIs, Retail Payment Systems
By Editors | 14/06/2020
The framework details the oversight objectives, supervisory processes and assessment methodology the RBI will apply to financial market infrastructures and retail payment systems.
Capital / Liquidity
RBI Proposes New Norms for Loan Sales and Securitisations
By Editors | 09/06/2020
The draft frameworks will make it easier for banks and other lenders to remove loans from their books amid increasing asset quality and liquidity pressures.
Fintech / Regtech
RBI Creates $66mn Fund to Boost E-Payments Infrastructure
By Editors | 07/06/2020
The RBI will initially contribute half of the funding; the rest will come from card-issuing banks and card networks, who will also cover operational expenses.
Enforcement
RBI Fines Citibank, Six Others for Non-Compliance
By Editors | 01/06/2020
Citibank did not comply with obligations to obtain declarations from customers about the credit facilities they have with other banks before granting them non-fund based facilities.
AML / KYC
India to Tighten KYC Rules for Hong Kong, China FPIs
By Manesh Samtani | 26/05/2020
Alongside stricter KYC procedures during FPI registration, India may set a 10% beneficial ownership cap on foreign investment from China including Hong Kong.
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