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RESERVE BANK OF INDIA
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.
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”.
ESG / Sustainability
RBI Issues ‘Green Deposits’ Framework for Banks, NBFCs
By Editors | 12/04/2023
The allocation of funds raised through green deposits shall be subject to independent third-party verification and assurance each year, the RBI says.
Fintech / Regtech
RBI Finalises Rules for Outsourcing of IT Services by Banks
By Editors | 12/04/2023
RBI approval is not required for IT outsourcing arrangements, but they should be subject to on-site or off-site monitoring and inspection by regulators.
Market Infrastructure
RBI to Permit Local Users to Access Onshore NDF Market
By Editors | 09/04/2023
The move is intended to further deepen the forex market in India and provide residents with greater hedging flexibility, RBI governor Shaktikanta Das said.
Fintech / Regtech
RBI Scraps Plans to Allow Firms to Develop UPI Alternative
By Editors | 07/04/2023
RBI deputy governor T Rabi Sankar says ‘new umbrella entity’ applicants did not propose solutions that were particularly innovative.
Securities / Derivatives
No Active Negotiations to Resolve India CCP Issue: ESMA
By Editors | 23/03/2023
EU banks will face a 1,250% risk weight on exposures to Indian CCPs after April. French and German regulators have given their banks 18 extra months to terminate Indian CCP memberships.
Fintech / Regtech
India, UAE To Collaborate on Building CBDC Bridge
By Editors | 16/03/2023
The RBI and CBUAE will conduct PoC and pilots on a bilateral bridge to facilitate cross-border CBDC transactions.
Market Infrastructure
RBI Calls for Fair Pricing, Transparency in FX Market
By Editors | 11/03/2023
The RBI has urged banks and FEDAI to ensure fair and transparent pricing for MSMEs and retail customers in the FX market.
AML / KYC
RBI Fines Amazon Pay’s India Unit for Breaching Local Norms
By Editors | 09/03/2023
Local reports say Amazon Pay as well as other fintech players are being penalised for delays in migrating to video-based KYC.
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