RESERVE BANK OF INDIA

Capital / Liquidity

RBI Proposes Changes to UCB Fundraising Norms

By Ranamita Chakraborty | 15/07/2021

Primary UCBs can issue equity shares, perpetual or redeemable preference shares, perpetual debt instruments, and long-term subordinated bonds.

Enforcement

RBI Imposes Restrictions on Mastercard Over Data Storage

By Editors | 15/07/2021

The action may hamper the ability of private banks to issue new cards to customers in the near term due to their exclusive tie-ups with Mastercard.

Securities / Derivatives

RBI Issues Guidelines on Retail Access to Government Securities

By Editors | 14/07/2021

Retail investors will be able to open an account directly with the central bank to gain access to primary issuance and secondary trading in government securities.

Enforcement

RBI Penalises Fourteen Banks Over NBFC Lending

By Editors | 12/07/2021

The banks include Credit Suisse, Central Bank of India, SBI, Bank of Baroda, Bank of Maharashtra, IndusInd Bank, and Indian Bank, among others.

Market Infrastructure

RBI Urges Banks to Stop Using LIBOR, MIFOR

By Manesh Samtani | 11/07/2021

FIs are asked to instead use ‘any widely accepted ARR’. Currently, there is no consensus on a new ARR for India. SOFR is widely expected to be accepted.

Market Infrastructure

RBI Issues New Guidelines on Outsourcing for Coop Banks

By Editors | 03/07/2021

Cooperative banks should not outsource policy formulation, internal audit, KYC compliance, credit approval and portfolio management.

Capital / Liquidity

RBI Issues New Dividend Distribution Guidelines for NBFCs

By Ranamita Chakraborty | 27/06/2021

The dividend ratio will be capped at 50 to 60 percent of a deposit-taking NBFC’s profits, depending upon the nature of the business.

Securities / Derivatives

SEBI Allows Mutual Funds to Trade IRS for Hedging

By Sanday Chongo Kabange | 22/06/2021

SEBI says mutual fund schemes may enter into plain vanilla interest rate swaps for hedging purposes.

RBI Requires HFCs to Enhance Internal Audit Systems

By Editors | 16/06/2021

All deposit-taking HFCs irrespective of size, and non-deposit-taking HFCs with at least INR 50 billion in assets, have to put in place an RBIA framework.