RESERVE BANK OF INDIA

AML / KYC

India Orders Ban on Over 200 Betting and Loan Apps

By Editors | 08/02/2023

The move follows several arrests and raids on payment firms last year connected to a probe into money laundering by loan companies said to be controlled by Chinese individuals.

Uncategorised

Indian Regulators Respond to Adani Group Stock Selloff

By Editors | 06/02/2023

SEBI said the market continues to function effectively. The RBI said the banking sector remains resilient and stable. Adani companies have meanwhile lost $110mn in market cap.

Market Infrastructure

India Budget to Provide Boosts to India Fintech, GIFT City

By Editors | 06/02/2023

The budget includes a revamp of India’s credit guarantee scheme for MSMEs and new incentives to draw companies to GIFT City.

Enforcement

SEBI Investigating Alleged Stock Manipulation by Adani Group

By Manesh Samtani | 30/01/2023

Short seller Hindenburg Research says the Adani Group engaged in stock price manipulation and accounting fraud over the course of decades.

Capital / Liquidity

RBI Proposed New Securitisation Framework for Stressed Assets

By Editors | 27/01/2023

Banks would be able to sell stressed assets to special purpose entities that issue securitisation notes for investors to buy.

Enforcement

SEBI Probes Nippon Mutual Fund, Yes Bank Transactions – Report

By Editors | 20/01/2023

SEBI is investigating whether investments in Yes Bank perpetual bonds were made as part of a special deal to benefit Ambani Group companies.

Capital / Liquidity

RBI Tightens Rules on Ownership of Bank Shares

By Mark Johnston | 17/01/2023

The rules are intended to ensure control and ownership stay “well-diversified” and major shareholders are ‘fit and proper’.

Capital / Liquidity

RBI Proposes to Adopt ECL Approach for Loan Provisioning

By Manesh Samtani | 17/01/2023

Indian banks currently still use the incurred loss model, which the RBI says delays NPA identification, loan reclassification, and provisioning.

AML / KYC

Banks Can Perform Re-KYC Process Remotely, Says RBI

By Editors | 10/01/2023

If there is no change in a customer’s KYC information, only a self-declaration is required to complete the re-KYC process.