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Payments & Settlements
RBI to Make NEFT System Available 24×7
By Editors | 11/12/2019
From 16 December, the NEFT system will be available on a 24/7 basis, including on holidays with batch settlement every half hour.
Trading & Investment
RBI Relaxes Restriction on Foreign Exchange Hedging
By Editors | 10/12/2019
Residents and non-residents will be allowed to undertake OTC currency derivative transactions up to $10mn without having to evidence underlying exposure.
Capital Adequacy
India Finalises ‘On-Tap’ Licensing Regime for Small Finance Banks
By Editors | 06/12/2019
India’s central bank has issued its final guidelines for ‘on-tap’ licensing of small finance banks, doubling the minimum capital requirement to 2 billion rupees.
Resolution & Recovery
India’s DHFL to Undergo NCLT Bankruptcy Proceedings
By Editors | 03/12/2019
The National Company Law Tribunal has allowed the RBI to start insolvency proceedings against the troubled mortgage lender Dewan Housing Finance Limited under the new bankruptcy rules for financial firms.
Trading & Investment
Indian Exchanges Issue New Framework for Listing Commercial Paper
By Editors | 28/11/2019
The listing framework for commercial papers will lead to more transparency, a better disclosure regime and greater investor protection.
Credit Risk
SEBI Requires Listed Companies to Disclose Defaults Within 24 Hours
By Editors | 22/11/2019
Effective from 1 January, once a listed company falls 30 days behind on loan repayment it will have 24 hours to disclose the default, even before it is classified as an NPA by the lender.
Resolution & Recovery
India to Increase Deposit Insurance Limit – Reports
By Editors | 20/11/2019
India’s finance ministry plans to increase the deposit guarantee limit to protect consumers against bank failures.
Resolution & Recovery
MCA Releases Interim Rules for Handling NBFC Insolvency
By Editors | 20/11/2019
The framework will serve as an interim mechanism to deal with any urgent situation at systemically important NBFCs, pending the introduction of a full resolution framework.
Payments & Settlements
RBI Invites First Sandbox Applicants to Test Retail Payments Products
By Editors | 09/11/2019
Initially, mobile payment services, offline payment solutions, and contactless payments will be considered for inclusion in the regulatory sandbox.
Liquidity Risk
RBI Revises NBFC Rules on Liquidity Risk Management
By Editors | 07/11/2019
The guidelines impose minimum LCR requirements on larger NBFCs from December 2020 and additionally seek to enhance early detection of liquidity risks in the sector.
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