RESERVE BANK OF INDIA

Fintech / Regtech

RBI Launches DAKSH, a New Supervisory Monitoring System

By Editors | 11/10/2022

The system will be used to monitor compliance and improve compliance culture at supervised entities such as banks and NBFCs, the RBI said.

Crypto / Digital Assets

RBI Set to Commence Limited Pilot Launch of CBDC

By Editors | 09/10/2022

To avoid the disintermediation of banks, which would impede credit creation, the RBI suggested the CBDC would likely be non-interest bearing.

RBI Directs CICs to Appoint Internal Ombudsman by April 2023

By Editors | 08/10/2022

Clients of regulated entities will have a free alternative dispute resolution for grievances against credit information companies.

Capital / Liquidity

RBI Categorises 16 Large NBFCs in Upper Layer

By Editors | 04/10/2022

The NBFCs are directed to put in place a board approved policy for adoption of the RBI’s enhanced regulatory framework for NBFCs within 24 months.

Market Infrastructure

India’s CCIL Proposes to Create Infrastructure for UMR Compliance

By Manesh Samtani | 28/09/2022

CCIL says market participants have expressed a desire since 2016 for it to provide the centralised infrastructure needed for UMR compliance.

RBI Issues New Standards for Compliance Function of UCBs

By Editors | 25/09/2022

Tier 4 UCBs and tier 3 urban cooperative banks are directed to appoint a chief compliance officer by 1 April 2023 and 1 October 2023, respectively.

Fintech / Regtech

India Launches Three New Digital Payments Initiatives

By Editors | 24/09/2022

The three initiatives have the potential to revolutionise the digital payments ecosystem, said NPCI.

Capital / Liquidity

RBI Removes Restrictions on Central Bank of India

By Editors | 21/09/2022

The bank is no longer in breach of the PCA parameters based on figures for the year ended 31 March 2022, the RBI said.

Securities / Derivatives

RBI Warns Against Use of Unauthorised FX Platforms

By Editors | 12/09/2022

The RBI lists 34 FX trading platforms it says are not authorised to operate in India. The list include FXCM, XTB, TD Ameritrade, eToro, and IG Markets.