India

Capital / Liquidity

RBI Directs Banks to Treat Certain Rated Exposures as Unrated

By Editors | 15/10/2022

Banks must treat corporate and NBFC exposures as if they were unrated if the lenders’ details are not disclosed in rating actions.

India Invites Bidders to Acquire Government Stake in IDBI Bank

By Editors | 12/10/2022

India announced plans to privatise most state-run companies in 2020. A 60.72 percent stake in IDBI Bank is up for grabs.

Fintech / Regtech

Worldline, NPCI to Enable Indian UPI Payments Across Europe

By Editors | 12/10/2022

The first target markets are set to include Benelux (Belgium, the Netherlands, and Luxembourg) and Switzerland, with further plans for expansion.

Fintech / Regtech

RBI Launches DAKSH, a New Supervisory Monitoring System

By Editors | 11/10/2022

The system will be used to monitor compliance and improve compliance culture at supervised entities such as banks and NBFCs, the RBI said.

Enforcement

SEBI Cancels Rating Agency Licence for the First Time

By Editors | 10/10/2022

Brickwork Ratings India failed to exercise proper skill, care and diligence while discharging its duties as a credit rating agency, SEBI said.

ESG / Sustainability

BSE India Receives Approval to Set Up Social Stock Exchange

By Editors | 10/10/2022

The social stock exchange will allow direct listings from non-profit organisations and for-profit social enterprises.

Crypto / Digital Assets

RBI Set to Commence Limited Pilot Launch of CBDC

By Editors | 09/10/2022

To avoid the disintermediation of banks, which would impede credit creation, the RBI suggested the CBDC would likely be non-interest bearing.

RBI Directs CICs to Appoint Internal Ombudsman by April 2023

By Editors | 08/10/2022

Clients of regulated entities will have a free alternative dispute resolution for grievances against credit information companies.

Fintech / Regtech

NPCI Signs MOU to Enable UPI Payments in Oman

By Editors | 05/10/2022

NPCI and Oman’s central bank will study the possibility of connecting the UPI and RuPay card systems used in India with similar systems in Oman.