RESERVE BANK OF INDIA

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    Enforcement

    RBI Removes Business Restrictions on Two Edelweiss Group Firms

    By Editors | 22/12/2024

    The RBI is satisfied that adequate remedial measures have been put in place at the two entities to address its earlier supervisory concerns.

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    Crypto / Digital Assets

    Ripple Launches USD Stablecoin on Global Crypto Exchanges

    By Editors | 18/12/2024

    RLUSD is backed by USD deposits, US treasuries and cash equivalents. Third-party attestations of the reserve assets will be published monthly.

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    Fintech / Regtech

    RBI to Form Dedicated Committee to Develop Framework for AI

    By Editors | 11/12/2024

    The committee of experts shall recommend a “robust, comprehensive, and adaptable AI framework” for the financial sector, the RBI said.

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    Securities / Derivatives

    RBI to Launch a New Interest Rate Benchmark Called SORR

    By Manesh Samtani | 10/12/2024

    The Secured Overnight Rupee Rate will be based on market repo and tri party repo transactions, which account for 98% of overnight money market transactions.

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    India Surprises Market With New RBI Governor Appointment

    By Editors | 10/12/2024

    Sanjay Malhotra, Revenue Secretary in the Ministry of Finance, was appointed as RBI governor for a three-year term.

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    Capital / Liquidity

    RBI Announces Cut to Cash Reserve Ratio for Banks

    By Editors | 08/12/2024

    The CRR cut is expected to release $13.7bn in financial system liquidity, enabling banks to extend more loans to spur economic growth.

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    Indian Parliament Advances Bill to Amend Banking Regulations

    By Editors | 05/12/2024

    The bill makes as many as 19 amendments to existing banking laws, including allowing deposits to have up to four nominees in their accounts.

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    Fintech / Regtech

    India: RBIH Wants Banks to Use AI to Detect Mule Accounts

    By Editors | 03/12/2024

    The Reserve Bank Innovation Hub is reportedly in talks with ten public and private banks about adopting its “Mulehunter.Ai” tool to identify mule accounts.

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    Fintech / Regtech

    RBI to Launch Public Cloud for Financial Services Industry

    By Editors | 19/11/2024

    The RBI programme will use only local IT firms to offer cloud data storage to financial firms at affordable prices.

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    Capital / Liquidity

    RBI Releases 2024 List of Domestic Systemically Important Banks

    By Nithya Subramanian | 14/11/2024

    SBI, HDFC, and ICICI remain India’s three D-SIBs. SBI and HDFC have to meet a higher CET1 requirement from April 2025.

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