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Fintech / Regtech
RBI Enhances Security Requirements for Digital Payment Apps
By Editors | 21/02/2021
The RBI has set out new prescriptive guidelines on the security protocols that need to be adopted in digital payment applications.
Market Infrastructure
RBI Formally Permits India Residents to Invest in GIFT City
By Ranamita Chakraborty | 17/02/2021
Separately, a new framework has been issued allowing professional services firms including consultancies, fund administrators and trustees to set up in GIFT City.
Securities / Derivatives
RBI Allows Banks to Post Margin Onshore for Offshore Clients
By Editors | 17/02/2021
AD Cat-I Banks may post and collect margin in India for a permitted derivative contract entered into with a person resident outside India.
Securities / Derivatives
RBI Issues Draft Guidelines to Open Up CDS Market
By Manesh Samtani | 16/02/2021
Under the guidelines, retail users will be allowed to buy permitted credit derivatives for hedging purposes, whereas non-retail can do so for any purpose.
Capital / Liquidity
RBI Establishes Expert Committee to Enhance UCB Resilience
By Editors | 16/02/2021
The committee will take stock of existing regulatory measures and their impacts and recommend other suitable measures to strengthen the sector.
AML / KYC
RBI Limits Investment in NBFCs from FATF Non-compliant Jurisdictions
By Editors | 15/02/2021
Investors from black-listed or grey-listed FATF jurisdictions will not be allowed to acquire ‘significant influence’ in NBFCs, the RBI said.
Capital / Liquidity
RBI Extends Liquidity Support Measures for Financial Sector
By Editors | 10/02/2021
The RBI has deferred implementation of the NSFR and the final tranche of the CCB, while also extending a number of other liquidity-boosting initiatives.
Securities / Derivatives
RBI Allows Indian Residents to Open GIFT City Accounts
By Editors | 09/02/2021
Funds deposited in GIFT City foreign currency accounts by Indian residents can only be used for investment purposes and not for spending.
Market Infrastructure
RBI Issues Guidance to Enhance Internal Audit Function at NBFCs, UCBs
By Sanday Chongo Kabange | 07/02/2021
Internal audit frameworks of select NBFCs and UCBs will have to include an evaluation of the risk management systems and control procedures used in various areas of operations.
Capital / Liquidity
India Announces Support for Banks in Budget for New Fiscal Year
By Editors | 02/02/2021
The budget includes the establishment of a ‘bad bank’ to take over banks’ bad assets and a plan to inject INR 200 billion into state lenders.
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