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Fintech / Regtech
Singapore-India Real-time Payments Launch Delayed to December
By Editors | 12/09/2022
At least five Indian banks are reportedly in talks with Singapore’s DBS regarding the PayNow-UPI linkage, which was initially meant to launch in July 2022.
Fintech / Regtech
India Raids Payment Firms in Digital Lending App Probe
By Editors | 06/09/2022
The Enforcement Directorate said digital loan app providers involved in extortion and harassment of members of the public are controlled and operated by Chinese persons.
AML / KYC
RBI Issues New Guidelines on Digital Lending
By Sanday Chongo Kabange | 06/09/2022
The guidelines are applicable to existing customers availing fresh loans and new customers getting onboarded. Existing digital loans must be in compliance by 30 November.
Crypto / Digital Assets
India: Four Public Sector Banks to Run CBDC Pilot
By Editors | 05/09/2022
The RBI has reportedly asked State Bank of India, Punjab National Bank, Union Bank of India and Bank of Baroda to run a CBDC pilot internally.
AML / KYC
Indian Banks Inconsistently Reporting Fraud Incidents to Regulator
By Editors | 31/08/2022
Kotak Mahindra Bank suggests such digital frauds are not being reported by other banks, making its own figures look disproportionately higher.
Big Picture
Better Governance Needed to Promote Bank Soundness: RBI
By Editors | 28/08/2022
A new study suggests public sector banks may need greater autonomy to improve their governance structures.
Fintech / Regtech
RBI Releases Amex from Restrictions Imposed Last Year
By Editors | 26/08/2022
The restrictions imposed on Diners Club and Mastercard for violations of India’s data storage rules have also already been lifted.
Market Infrastructure
India Simplifies Regulatory Framework for Overseas Investment
By Editors | 24/08/2022
The regulatory framework for overseas investment has been aligned with the “current business and economic dynamics”.
AML / KYC
India, Russia Continue to Explore Non-USD Trade Options
By Editors | 23/08/2022
Indian and Russian banks are discussing the use of customised trade accounts and an exchange rate mechanism that will enable trade settlement in rupees and rubles.
AML / KYC
US Concerned India is Routing Russian Oil to New York
By Editors | 22/08/2022
An Indian vessel picked up oil from a Russian tanker at sea, then brought it to an Indian port to be refined and shipped on to New York.
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