RESERVE BANK OF INDIA

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    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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    AML / KYC

    Indian Authorities Investigating Three ‘Top Brokers’ – Reports

    By Editors | 16/05/2023

    Three top brokers, who were not named, were found to be engaged in “large-scale money laundering activities” with the involvement of PEPs.

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    Market Infrastructure

    Banks Must Ensure LIBOR Transition Work is Complete: RBI

    By Editors | 14/05/2023

    No new transactions should be undertaken using USD LIBOR or MIFOR, and appropriate fallbacks must be in place in legacy contracts.

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    AML / KYC

    RBI Updates Master Direction on KYC for Wire Transfers

    By Sanday Chongo Kabange | 05/05/2023

    The revised master directions highlight the need for all wire transfers to be accompanied by accurate and complete originator and beneficiary information.

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    Fintech / Regtech

    RBI, BIS Launch G20 TechSprint Focusing on Cross-border Payments

    By Editors | 05/05/2023

    The 2023 TechSprint will focus on technology solutions to address illicit finance risk, FX and liquidity solutions, and technology for CBDC platforms.

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    AML / KYC

    SEBI Mandates LEI Reporting Requirement for Debt Issuers

    By Editors | 03/05/2023

    Issuers of listed non-convertible securities, securitised debt instruments and security receipts must obtain and report their LEI by 1 September.

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    Capital / Liquidity

    ESMA Follows Through with De-recognition of Indian CCPs

    By Manesh Samtani | 03/05/2023

    So far Indian markets have not faced disruptions. This is attributed to the concessions provided by French and German regulators.

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    Market Infrastructure

    RBI Eases Restrictions on Funds Held in GIFT City by Indians

    By Editors | 27/04/2023

    The RBI removed a requirement for Indian residents to repatriate funds that lie idle for 15 days in GIFT City bank accounts. Restrictions on interest-bearing accounts also relaxed.

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    India, Russia in Advanced Talks on Trade Treaty

    By Sanday Chongo Kabange | 18/04/2023

    The RBI is also engaged in discussions with several other countries on the possibility of conducting trade in the rupee.

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    RBI Directs Lenders to Charge Loan Penalties More Fairly

    By Editors | 13/04/2023

    The RBI said penal charges on loans are intended to “inculcate a sense of credit discipline among borrowers” and as a “revenue enhancement tool”.

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