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Fraud, Scams & Cybercrime
UPDATED – RBI Fines Multiple Banks for SWIFT Integration Non-Compliance
By Editors | 05/03/2019
The penalties follow directions issued by the RBI in February 2018 requiring banks to link their core banking systems with the SWIFT network.
Trading & Investment
India Offers FPIs a New Route to Debt Markets
By Editors | 04/03/2019
While the RBI introduces a new scheme to encourage FPI participation in India’s debt markets, SEBI has tweaked valuation norms make debt funds more secure for investors.
Conduct, Culture & Accountability
RBI Proposes Overhaul of Bank Executive Compensation Norms
By Editors | 28/02/2019
The proposals include a minimum 50% variable component, a compulsory deferral mechanism, and clawback provisions to ensure compensation reflects performance.
KYC & CDD
RBI Extends KYC Compliance Deadline for e-Wallet Firms
By Editors | 27/02/2019
Following months of intense lobbying by e-wallet providers, the RBI has extended the deadline for completion of KYC processes by six months.
Credit Risk
RBI Tightens Norms to Stem Flow of Credit to NBFC Sector
By Editors | 27/02/2019
The central bank has changed its risk weighting norms for bank exposures to NBFCs, making it more costly to lend to those that are rated poorly.
Capital Adequacy
RBI Removes Three More Banks from PCA Framework
By Editors | 26/02/2019
Allahabad Bank and Corporation Bank have been released from PCA restrictions following the government’s capital infusion last week; Dhanlaxmi Bank was found not in breach of any PCA risk thresholds.
Capital Adequacy
RBI to Pay $3.9bn Interim Dividend to Government
By Editors | 19/02/2019
India’s central bank will pay a $3.9bn interim dividend to the government amid pressures to transfer its surplus reserves.
Structural Regulation
RBI Consults on New Requirements for Benchmark Administrators
By Editors | 18/02/2019
The draft directions under consultation include requirements related to administrators’ minimum net worth, governance arrangements, and organisational structure, among other requirements.
Trading & Investment
India Lifts Corporate Bond Investment Cap for FPIs
By Editors | 17/02/2019
The 20% cap limiting exposures to a single corporate entity was aimed at incentivising FPIs to maintain a portfolio of assets, but market feedback indicates it has instead had a contraining effect.
KYC & CDD
UPDATED – Multiple Indian Banks Penalised for Rule Violations
By Editors | 13/02/2019
The latest penalties involve banks’ non-compliance with RBI directions on the monitoring of borrowers’ end use of loan funds, as well as failures related to KYC/AML compliance.
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