Reserve Bank of India

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.

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.