India

Fintech / Regtech

India Raids Payment Firms in Digital Lending App Probe

By Editors | 06/09/2022

The Enforcement Directorate said digital loan app providers involved in extortion and harassment of members of the public are controlled and operated by Chinese persons.

AML / KYC

RBI Issues New Guidelines on Digital Lending

By Sanday Chongo Kabange | 06/09/2022

The guidelines are applicable to existing customers availing fresh loans and new customers getting onboarded. Existing digital loans must be in compliance by 30 November.

Crypto / Digital Assets

India: Four Public Sector Banks to Run CBDC Pilot

By Editors | 05/09/2022

The RBI has reportedly asked State Bank of India, Punjab National Bank, Union Bank of India and Bank of Baroda to run a CBDC pilot internally.

Securities / Derivatives

SEBI Enhances Disclosure Rules for Credit Rating Agencies

By Editors | 31/08/2022

The changes will enhance the transparency and usability of disclosures made by CRAs, SEBI said.

AML / KYC

Indian Banks Inconsistently Reporting Fraud Incidents to Regulator

By Editors | 31/08/2022

Kotak Mahindra Bank suggests such digital frauds are not being reported by other banks, making its own figures look disproportionately higher.

Big Picture

Better Governance Needed to Promote Bank Soundness: RBI

By Editors | 28/08/2022

A new study suggests public sector banks may need greater autonomy to improve their governance structures.

Fintech / Regtech

RBI Releases Amex from Restrictions Imposed Last Year

By Editors | 26/08/2022

The restrictions imposed on Diners Club and Mastercard for violations of India’s data storage rules have also already been lifted.

Fintech / Regtech

NPCI Signs Agreement to Enable UPI Payments in UK

By Editors | 26/08/2022

India’s UPI-based QR code payments will be available in the UK on all of PayXpert’s android POS devices for in-store payments.

Market Infrastructure

India Simplifies Regulatory Framework for Overseas Investment

By Editors | 24/08/2022

The regulatory framework for overseas investment has been aligned with the “current business and economic dynamics”.