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RBI Grants Exemptions to Small Finance Banks
By Editors | 02/04/2020
Existing small finance banks will not need prior RBI approval to undertake non-risk sharing simple financial service activities or open banking outlets in unbanked rural centres.
Securities / Derivatives
India Further Opens Bond Market to Non-resident Investors
By Editors | 02/04/2020
The RBI has fully opened certain categories of government securities to non-resident investors and raised the FPI limit for investment in corporate bonds.
Market Infrastructure
SEBI Asks Rating Agencies to Delay Default Recognition
By Editors | 31/03/2020
Market participants call SEBI’s move timely, amid fears of mass downgrades in light of the operational disruptions caused by Covid-19.
Market Infrastructure
India: State Bank Merger Plan Takes Effect on 1 April
By Editors | 31/03/2020
A plan to merge ten state-run banks into four takes effect from 1 April, in a move that will help consolidate their national presence and extend their global reach.
Capital / Liquidity
RBI Announces Broad Measures to Address Covid-19 Financial Stress
By Editors | 28/03/2020
The measures include a 3 month moratorium on term loans, deferred interest on working capital loans, $50bn of liquidity measures, and 6-month delays for NSFR, CCB and LEI implementation.
Capital / Liquidity
Indian Banks Directed to Extend Emergency Credit to SMEs
By Editors | 26/03/2020
The government has also asked the RBI to consider implementing a months-long moratorium on the debt repayments and to relax NPA classification norms.
AML / KYC
RBI Brings Payment Aggregators Under Regulatory Remit
By Editors | 19/03/2020
The capital requirement for payment aggregators has been reduced to 150mn rupees, down from 1bn rupees proposed in September.
RBI Intervenes to Provide US Dollar, Rupee Liquidity
By Editors | 16/03/2020
The RBI’s move to provide US dollar liquidity amid a sinking rupee had the unintended consequence of squeezing liquidity in its domestic currency.
Capital / Liquidity
RBI Amends Exposure Norms for Urban Cooperative Banks
By Editors | 16/03/2020
The single borrower and group exposure limit will be 15% and 25% of tier 1 capital, respectively, compared to 15% and 40% of total capital previously.
Capital / Liquidity
India’s Cabinet Green Lights Yes Bank Rescue Plan
By Editors | 16/03/2020
State Bank of India and 7 other FIs are investing over 100bn rupees in Yes Bank’s equity. The bank’s moratorium will be lifted on Wednesday.
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