Reserve Bank of India

Credit Risk

India Authorises Sovereign Guarantee for New ‘Bad Bank’

By Editors | 20/09/2021

India’s new National Asset Reconstruction Company will acquire stressed assets through the issuance of tradeable security receipts guaranteed by the government.

KYC & CDD

RBI Invites NBFCs to Apply for Aadhaar Authentication Licences

By Editors | 17/09/2021

With a KUA or sub-KUA licence, NBFCs will be able to authenticate client Aadhaar numbers using the e-KYC facility provided by UIDAI.

Market Abuse

SEBI Settles YES Bank Case of Selective Disclosures

By Editors | 15/09/2021

YES Bank allegedly made selective disclosures regarding its asset quality, and did not disclose regulatory breaches identified by the RBI.

Payments & Settlements

RBI Opens Applications for Third Sandbox Cohort

By Editors | 15/09/2021

Six entities from the first cohort on retail payments have exited the sandbox. The second cohort on cross-border payments is commencing testing this month.

Payments & Settlements

Singapore, India to Enable Real-time Cross-border Payments

By Sanday Chongo Kabange | 15/09/2021

The PayNow-UPI linkage will be implemented in July 2022, enabling faster and lower cost fund transfers between Singapore and India.

Capital Adequacy

RBI Removes UCO Bank From PCA Framework

By Ranamita Chakraborty | 12/09/2021

UCO Bank is no longer in breach of the PCA parameters based on its latest results. Only Indian Overseas Bank and Central Bank of India remain under the PCA framework.

Data Privacy

RBI Account Aggregator Framework Brings Open Banking to India

By Editors | 12/09/2021

Eight banks have joined the account aggregator network, which enables consumers to share financial data with third parties in a safe and secure manner.

Clearing & Post-Trade

RBI to Enable Settlement of G-secs through ICSDs

By Editors | 04/09/2021

The move will enhance access for non-resident investors and facilitate the inclusion of Indian G-secs in global bond indices.

Data Privacy

RBI Halts Plan to Allow New Umbrella Entities in Retail Payments

By Editors | 01/09/2021

The decision is reportedly based on data security concerns following recent breaches at payment firms and non-compliance by global payment giants with India’s data localisation rules.