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Crypto / Digital Assets
RBI Starts Testing CBDC in G-Sec Trade Settlement
By Editors | 01/11/2022
The RBI will also commence testing of a retail CBDC “within a month” in select locations in “closed user groups comprising customers and merchants”.
AML / KYC
RBI Grants First Vostro Approvals to Russian Banks
By Editors | 26/10/2022
Sberbank and VTB Bank have been granted approval to open vostro accounts in India to settle rupee trade transactions.
Capital / Liquidity
India: ISDA Requests Details on CCIL’s Proposed UMR Services
By Editors | 24/10/2022
ISDA has responded to CCIL proposals to create a margining and collateral service for non-centrally cleared OTC derivatives trades in India.
Fintech / Regtech
RBI Consults on New Master Directions on IT Governance
By Sanday Chongo Kabange | 23/10/2022
Regulated entities will have to obtain source code from vendors for critical applications or ensure a software escrow agreement is in place.
Capital / Liquidity
RBI Tightens Rules for Unhedged Foreign Currency Exposures
By Editors | 20/10/2022
The RBI tightened rules that require banks to factor borrowers’ unhedged foreign currency exposures into their credit-granting and loss-provisioning decisions.
Fintech / Regtech
India Launches Digital Banking Units to Advance Financial Inclusion
By Editors | 19/10/2022
The units were established by 24 banks to house digital infrastructure for the delivery of digital banking products and services in self-service and assisted mode.
Capital / Liquidity
RBI Tightens Rules on Disclosing NPA, Provisioning Divergences
By Editors | 18/10/2022
Norms that apply to commercial banks on disclosing NPA and provisioning divergences are being tightened, and extended to UCBs.
Securities / Derivatives
RBI Directs Bank to Reduce Activity in Offshore Rupee Market
By Editors | 18/10/2022
The RBI started allowing local banks to participate in the NDF market in 2020, but their activity is adding further downward pressure on the rupee.
Fintech / Regtech
India Establishes Protocols for Interoperable Regulatory Sandbox
By Editors | 17/10/2022
The interoperable regulatory sandbox will enable firms to test innovative products and services that fall under multiple financial sector regulators.
Capital / Liquidity
RBI Revises Rules for Asset Reconstruction Companies
By Editors | 16/10/2022
Under the new framework, ARCs can act as resolution applicants under the Insolvency and Bankruptcy Code.
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