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Fintech / Regtech
India in Talks to Extend UPI’s Reach to Gulf Countries
By Editors | 13/06/2023
India’s NPCI, with support from the RBI, is in talks to establish bank-to-bank transfer systems for cross-border remittances to Bahrain and Saudi Arabia.
Crypto / Digital Assets
RBI to Make CBDC QR Codes Interoperable With UPI System
By Editors | 09/06/2023
The RBI issued the e-rupee as a pilot project late last year. Deputy governor T Rabi Sankar 1 million customers will be active on the CBDC by end-of-month.
Capital / Liquidity
RBI Allows Banks More Flexibility to Participate in Interbank Market
By Mark Johnston | 09/06/2023
Banks can set their own limits for borrowing in the call and notice money markets, provided they meet existing prudential limits for inter-bank liabilities.
Capital / Liquidity
RBI Issues New Rules on Guarantee Arrangements in Digital Lending
By Mark Johnston | 09/06/2023
Loan service providers such as fintechs are allowed to provide default cover up to five percent of the loan portfolio.
Capital / Liquidity
RBI Issues New Framework for Compromise Settlements and Loan Write-offs
By Sanday Chongo Kabange | 08/06/2023
The framework aims to provide further impetus to stressed asset resolutions and establish harmonised standards across lenders.
Market Infrastructure
RBI Unveils Plans to Enhance Payment Systems
By Sanday Chongo Kabange | 08/06/2023
The RBI will allow Indian banks to issuance RuPay prepaid forex cards and expand the scope and reach of e-RUPI digital vouchers.
Securities / Derivatives
RBI Permit Banks to Offer Non-deliverable FX Derivatives to Resident Indians
By Editors | 08/06/2023
HSBC India executed its first non-deliverable FX derivative transaction with Reliance Industries just a day after the RBI’s policy change.
Fintech / Regtech
RBI Consults on Cyber Resilience Guidelines for Payment System Operators
By Sanday Chongo Kabange | 06/06/2023
The draft guidelines are intended to help non-bank payment system operators mitigate emerging cyber security risks.
RBI Panel Offers Recommendations on Improving Bank Services
By Editors | 05/06/2023
The committee issued recommendations to foster a more customer-centric approach in the financial services industry.
RBI Governor Raises Concerns Over India Bank Governance
By Ranamita Chakraborty | 30/05/2023
RBI governor Shaktikanta Das said banks are employing “smart accounting methods” to artificially boost performance and mask stressed loans.
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