Reserve Bank of India

Capital / Liquidity

Indian Banks Face “Serious Governance and Risk Issues” – S&P

By Garima Chitkara | 16/04/2018

In light of recent NPA and governance issues at large private banks in India, S&P says Indian banks need an overhaul to enhance risk culture and governance.

Capital / Liquidity

RBI Fines IDBI Bank for Bad Loan Provisioning Failures

By Garima Chitkara | 13/04/2018

RBI fines state-owned lender IDBI Bank INR30 million for non-compliance with bad loan recognition and provisioning norms; ruling will not have a material impact on the bank, said IDBI.

Market Infrastructure

India Defers Bank Adoption of New Accounting Standard One Year

By Garima Chitkara | 09/04/2018

RBI defers banks’ adoption of the Indian version of IFRS by one year; banks deemed unprepared for migration, government is yet to make necessary legislative amendments.

Market Infrastructure

India Directs Payment Firms to Store User Data Onshore

By Garima Chitkara | 09/04/2018

Payment service providers have been asked to move all consumer data, including end-to-end transaction details to India within six months to ensure easier access by the central bank for supervisory purposes. Foreign firms to be impacted more than domestic firms.

Crypto / Digital Assets

India Bars Banks from Cryptocurrency Dealings

By Manesh Samtani | 07/04/2018

Reports suggest banks will have three months to comply; central bank meanwhile explores feasibility of state-backed digital currency.

Securities / Derivatives

Indian Banks Can Spread Bond Losses Over Four Quarters

By Garima Chitkara | 05/04/2018

Banks to get a breather from taking immediate losses on rising government yields, as provisioning on NPLs have put pressure on profitability across the industry.

Market Infrastructure

India Bans Bank Issuance of Key Trade Finance Instrument

By Manesh Samtani | 16/03/2018

An estimated $10bn in LoUs will need to be wound down within three months, forcing banks to rebalance assets and liabilities.

Enforcement

SBI Fined for Noncompliance with Counterfeit Currency Rules

By Editors | 08/03/2018

Central bank investigators found that State Bank of India had not complied with rules on detection and impounding of counterfeit notes.

Enforcement

RBI Fines Axis Bank $460,000 for Bad Loan Classification Failures

By Editors | 07/03/2018

Statutory inspection revealed gross NPAs higher than Axis Bank’s reported numbers; Indian Overseas Bank also fined for KYC failures.