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Conduct, Culture & Accountability
RBI Issues Stricter Rules on Bank Executive Compensation
By Editors | 06/11/2019
Executive compensation should be at least 50% variable, and at least 60% of the variable pay must be deferred for at least three years, subject to malus/clawback arrangements.
Credit Risk
SEBI Mandates Immediate Disclosure of NPA Divergences
By Editors | 04/11/2019
SEBI has directed listed banks to disclose any divergences in bad loan provisioning immediately, rather than waiting to publish the information in their annual financial statements.
Emerging Prudential Risks
RBI Reorganises Regulation, Supervision Departments
By Editors | 04/11/2019
The RBI has integrated all its supervision functions into a unified ‘Department of Supervision’, and its regulatory functions into a unified ‘Department of Regulation’.
Fraud, Scams & Cybercrime
RBI Deploys New Reporting System for Cooperative Banks
By Editors | 17/10/2019
Following the $560mn fraud detected at PMC Bank, the RBI is ordering all cooperative banks in the country to perform their daily reporting via the new system.
Anti-Money Laundering
India Establishes High Level Panel on AML/CFT
By Editors | 08/10/2019
The inter-ministerial committee comprises senior officials from government departments, ministries, law enforcement agencies and regulatory bodies, including the RBI, SEBI and IRDAI.
Fraud, Scams & Cybercrime
India: PMC Bank Managing Director Confesses to Wrongdoing
By Editors | 02/10/2019
PMC Bank’s now-suspended managing director has reportedly confessed that the bank’s loan exposures went unreported for over six years.
Credit Risk
RBI Caps Withdrawals at Failing PMC Bank, Prompting Panic
By Editors | 26/09/2019
The RBI has ordered the troubled cooperative bank to cap withdrawals at 1,000 rupees per account, prompting panic, protests and promises of legal action from customers.
Structural Regulation
Small Finance Banks Rush to Meet RBI Listing Deadline
By Editors | 26/09/2019
A three-year deadline to publicly list is approaching for small finance banks that were granted in-principle licences by the RBI in September 2015.
Data Privacy
RBI Orders Banks, NBFCs to Restrict Access to Credit Data
By Editors | 24/09/2019
Financial institutions in India are known to be giving fintech firms and institutional agents direct access to data from credit bureaus, without customer consent.
Payments & Settlements
RBI Proposes to Directly Regulate Payment Gateways, Aggregators
By Editors | 19/09/2019
The paper proposes that payment gateways and payment aggregators be required to have a minimum net-worth of 1 billion rupees, among other requirements.
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