RESERVE BANK OF INDIA

AML / KYC

RUSI, FFIS Urge Greater Cross-Sector Collaboration on FinCrime

By Ranamita Chakraborty | 11/01/2024

The new report highlighted the underutilisation of payments infrastructure in economic crime analysis, citing challenges in policymaking.

Market Infrastructure

GIFT City Regulator Directs IBUs to Improve Cross-border Payments

By Ajoy K Das | 09/01/2024

IFSC Banking Units are asked to use Swift GPI and to explore how they can further speed up their processing of cross border payments.

AML / KYC

RBI Clarifies PEPs Definition in KYC Master Direction

By Ajoy K Das | 06/01/2024

The updated definition clarifies that PEPs include a person who “is entrusted by a foreign country with a public function”.

Securities / Derivatives

RBI Consolidates Norms for Currency Derivatives

By Ajoy K Das | 06/01/2024

Retail users can be classified as non-retail if an authorised dealer is satisfied that they have the requisite risk management capabilities.

Capital / Liquidity

RBI Proposes to Tighten Dividend Payout Norms for Banks

By Ajoy K Das | 04/01/2024

For a bank to distribute dividends, its net NPA ratio must be below 6%, with the maximum payout ratio capped at 50%.

Fintech / Regtech

RBI Offers 10-Point Checklist for AI Deployment in Banking

By Ajoy K Das | 04/01/2024

M Rajeshwar Rao said the banking sector needs to address concerns over the fairness, transparency and governance or AI models.

Securities / Derivatives

RBI Issues Draft Directions on Bonds Forwards in G-Secs

By Ajoy K Das | 03/01/2024

Resident and non-residents who are eligible to invest in government securities will also be eligible to undertake bond forward transactions.

Securities / Derivatives

RBI Issues New Rules for Financial Benchmark Administrators

By Ajoy K Das | 02/01/2024

Financial benchmark administrators operating in India must seek authorisation from the RBI within three months.

Capital / Liquidity

RBI Includes EXIM Bank, NaBFID as NDBs for NSFR Computation

By Ajoy K Das | 02/01/2024

EXIM Bank and NaBFID are now considered as National Development Banks for the purpose of NSFR computation.