Reserve Bank of India

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    Securities / Derivatives

    RBI Allows SFBs to Hedge with Interest Rate Derivatives

    By Ajoy K Das | 30/04/2024

    Until now, small finance banks have only been permitted to use interest rate futures for hedging.

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    Capital / Liquidity

    RBI Sets Guidelines for SFBs to Transition into Universal Banks

    By Ajoy K Das | 30/04/2024

    Small finance banks can apply to transition into universal banks, subject to them meeting certain conditions.

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    Fintech / Regtech

    RBI Issues Draft Guidelines for Loan Aggregation Services

    By Ajoy K Das | 29/04/2024

    The RBI said borrowers may not know the identity of potential lenders when using loan aggregation services.

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    Securities / Derivatives

    India Amends FX Rules to Facilitate Direct Listings in GIFT City

    By Ajoy K Das | 29/04/2024

    The regulations make clear that firms raising funds through direct GIFT City listings can hold the proceeds in foreign currency accounts outside India.

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    AML / KYC

    RBI Plans to Allow Banks Autonomy to Freeze Suspicious Accounts

    By Ajoy K Das | 29/04/2024

    The RBI plans to allow banks to suspend suspicious accounts without having to wait for a police complaint to be registered.

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    Capital / Liquidity

    RBI Raises Net Owned Funds Requirement for ARCs

    By Ajoy K Das | 25/04/2024

    Existing asset reconstruction companies will have until 31 March 2026 to meet the $36mn net owned funds requirement.

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    Enforcement

    RBI Imposes Business Restrictions on Kotak Mahindra Bank

    By Ajoy K Das | 25/04/2024

    The bank is prohibited from onboarding new customers and issuing fresh credit cards due to long-standing IT risk management deficiencies.

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    Enforcement

    Indian NBFC Detects Vehicle Loan Fraud Worth $18m

    By Ajoy K Das | 25/04/2024

    The fraud involved forgery of KYC documents related to retail vehicle loans, resulting in company funds being embezzled.

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    Fintech / Regtech

    India Explores Measures to Address Duopoly in Mobile Payments Market

    By Ajoy K Das | 23/04/2024

    Google Pay and PhonePe together account for nearly 86% of UPI transactions by volume. Support and incentives are being considered for smaller players.

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    Fintech / Regtech

    RBI Proposes New Regulations for Payment Aggregators

    By Ajoy K Das | 18/04/2024

    The proposed regulations stipulate new net worth requirements for payment aggregators facilitating face-to-face transactions.

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