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Fintech / Regtech
RBI Consults on Charges Levied in Payment Systems
By Sanday Chongo Kabange | 18/08/2022
The RBI carried out a review of payment system charges, which consumers complain are “high and non-transparent”.
RBI Directs Lenders to Clean Up Debt Collection Practices
By Editors | 15/08/2022
Regulated entities must ensure they and their agents do not resort to intimidation or harassment of any kind against any person in their debt collection efforts.
Securities / Derivatives
RBI Allows Standalone Primary Dealers to Expand Services
By Editors | 15/08/2022
Stand-alone primary dealers can offer FX market-making facilities and undertake foreign currency OIS transactions directly with non-residents.
Fintech / Regtech
RBI to Adopt New Measures to Regulate Digital Lending
By Manesh Samtani | 11/08/2022
The measures include enhanced disclosures for borrowers, consent-based data collection, a cooling-off period for online loans, and the establishment of a new SRO.
RBI Widens Scope of Ombudsman Mechanism to Include CICs
By Editors | 10/08/2022
Credit information companies will be required to have their own internal ombudsman framework, the RBI said.
Fintech / Regtech
RBI Defers Deadline for Acquiring Banks to Purge Customer Card Data
By Editors | 09/08/2022
All entities in the transaction chain other than acquiring banks, card issuers and card networks must purge card-on-file data from 1 October 2022.
Market Infrastructure
SEBI Forms Dedicated Committee to Advice on FPI Policy
By Editors | 09/08/2022
The committee will advise increasing FPI participation in Indian markets. FPIs are currently coping with a transition to T+1 settlement in the country.
ESG / Sustainability
RBI Publishes Paper on Climate Risk, Sustainable Finance
By Manesh Samtani | 04/08/2022
The paper offers guidance for FIs on managing climate risk. The RBI also published results from a survey to assess banks’ readiness to address climate risk.
Securities / Derivatives
India Launches First International Bullion Exchange
By Editors | 01/08/2022
The exchange is expected to facilitate efficient price discovery; ensure standardisation, quality assurance and sourcing integrity; and help bring more foreign traders to India.
Capital / Liquidity
RBI Allows Payment Aggregators Time To Obtain Licenses
By Editors | 31/07/2022
Companies already providing payment aggregator services now would be allowed until 30 September 2022 to submit licence applications
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