RESERVE BANK OF INDIA

Market Infrastructure

RBI, ESMA Close to Resolving Stand-Off Over CCPs – Report

By Manesh Samtani | 07/09/2023

Discussions regarding MoUs between the RBI and ESMA are reported to be progressing more smoothly and regularly.

Fintech / Regtech

RBI Calls on Fintech Industry to Establish Self-Regulatory Body

By Editors | 07/09/2023

The RBI’s Shaktikanta Das and T Rabi Sankar said an SRO would be the best way to regulate the fintech industry and establish best practice standards.

Fintech / Regtech

RBI Permits Banks to Use UPI With Credit Lines

By Sanday Chongo Kabange | 05/09/2023

Scheduled commercial banks can now transfer funds to and from credit lines through the UPI system.

AML / KYC

Indian Banks Working on New Industry Platform to Combat Fraud – Report

By Editors | 30/08/2023

The platform will enable banks to share real-time information that can be used to stop digital fraud and trace the funds.

RBI Asking Banks to Settle UAE Trade Without USD – Report

By Editors | 22/08/2023

The RBI has asked banks to encourage clients and corporates to settle trade with the UAE using the dirham or Indian rupee.

Market Infrastructure

India’s Finance Minister Reviews Progress of GIFT City

By Mark Johnston | 22/08/2023

Nirmala Sitharaman reviews GIFT City’s progress, saying a legal framework for accounting, auditing, and taxation professionals will soon be in place.

RBI Unveils New Penal Charges Regime to Promote Fair Lending

By Sanday Chongo Kabange | 21/08/2023

The RBI said penal charges in loan accounts should be used to promote credit discipline and not as a “revenue enhancement tool”.

Capital / Liquidity

RBI Launches Digital Portal for Unclaimed Deposit Recovery

By Ranamita Chakraborty | 21/08/2023

Users can utilise the portal to locate their unclaimed deposits and subsequently choose to either claim the funds or reactivate their deposit accounts with their respective banks.

Capital / Liquidity

RBI To Introduce Public Tech Platform for Credit Data

By Ranamita Chakraborty | 15/08/2023

Following the pilot, the Indian central bank will expand the platform’s scope and coverage to include more products, information providers and lenders.