Reserve Bank of India

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    RBI Standardises Framework for Reporting Credit Information

    By Manesh Samtani | 14/01/2025

    Lenders must update credit bureau records every 15 days rather than monthly to ensure borrowers’ financial activities are reflected in credit scores more quickly

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    AML / KYC

    India to Implement Payee Name Checking on RTGS, NEFT by April

    By Editors | 05/01/2025

    Banks have until 1 April 2025 to implement the beneficiary account name look-up facility for RTGS and NEFT transfers.

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    Securities / Derivatives

    RBI to Require Reporting of OTC Gold Derivatives Trades

    By Editors | 03/01/2025

    Starting from 1 February, banks must report all OTC transactions in gold derivatives undertaken in domestic markets, GIFT City, and outside India.

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    Fintech / Regtech

    RBI Forms Committee to Develop Regulatory Framework for AI

    By Editors | 03/01/2025

    The committee includes experts from IIT Bombay, NASSCOM, IIT Madras, MEITy, Trilegal, HDFC Bank, Microsoft, and the RBI.

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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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