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RBI Issues New Rules for Senior Bank Executives, Board Members
By Editors | 29/04/2021
Banks will have until 1 October 2021 to comply with new rules capping the tenure of top executives at 15 years.
Enforcement
RBI Restricts Amex, Diners Club for Data Storage Violations
By Editors | 26/04/2021
American Express and Diners Club were found to be non-compliant with the RBI’s 2018 directions requiring payment system data to be stored onshore.
Capital / Liquidity
RBI Lifts Bank Dividend Ban, Subject to New Limit
By Editors | 25/04/2021
Banks will be limited to paying only 50% of the amount prescribed in a 2005 circular, which already caps dividends at a 40% payout ratio.
RBI to Review Efficacy of Regulatory Framework for ARCs
By Editors | 21/04/2021
The RBI has set up an expert panel that will review the role of asset reconstruction companies in the resolution of stressed assets.
Enforcement
SEBI Fines Yes Bank, Three Others for Mis-selling AT1 Bonds
By Editors | 13/04/2021
SEBI says Yes Bank misled individual investors into buying risky AT1 bonds and did not inform them of the risks involved or conduct risk profiling.
Market Infrastructure
LIBOR Phase-out, RFR Adoption: A Path Forward for Sri Lanka
By Lalinda Sugathadasa | 11/04/2021
The CBSL should play a more active role in facilitating the transition in Sri Lanka, says Lalinda Sugathadasa, Head of Research at ICRA Lanka.
Fintech / Regtech
RBI to Extend RTGS, NEFT Connectivity to Nonbanks
By Editors | 10/04/2021
Digital wallet providers and card networks will be able to directly connect to the RTGS and NEFT systems.
Securities / Derivatives
RBI Formalises Quantitative Easing Programme
By Editors | 10/04/2021
While the RBI has often purchased government securities, this is the first time it has committed to an amount upfront.
Fintech / Regtech
RBI Orders MobiKwik to Investigate Alleged Data Breach
By Ranamita Chakraborty | 07/04/2021
The RBI has asked the payments provider Mobikwik to carry out an immediate forensic audit following allegations of a data breach.
Enforcement
RBI Fines SBI For Noncompliant Commission Payments
By Editors | 18/03/2021
State Bank of India violated rules prohibiting banks from paying remuneration in the form of commission or a share of profits.
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