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RBI to Provide Liquidity in Forex Market as Rupee Crashes
By Editors | 13/03/2020
The RBI will offer USD/INR sell/buy swaps to bolster FX market liquidity, as foreign investors withdraw from India amid growing concerns over Covid-19’s economic impact.
Capital / Liquidity
RBI Finalises Yes Bank Rescue Plan, Including Funding Lines
By Editors | 12/03/2020
State Bank of India and other banks will invest about 500 billion rupees in Yes Bank shares and CDs. AT1 bondholders will recover about 20% of their investment.
AML / KYC
India: Yes Bank Co-founder Arrested Over Illicit Kickbacks
By Editors | 10/03/2020
The arrest comes just days after the RBI seized control of Yes Bank due to its inability to raise capital to restore liquidity and address loan losses and credit downgrades.
Capital / Liquidity
UPDATED – RBI Seizes Control of Troubled Lender Yes Bank
By Editors | 06/03/2020
The RBI says it had “no alternative” to protect the interests of the public and depositors, given the absence of a credible revival plan. A draft plan for Yes Bank’s reconstruction is open for comment.
Crypto / Digital Assets
Supreme Court Overturns RBI Circular Barring Banks from Crypto Dealings
By Editors | 04/03/2020
The ruling is hailed as a big win for the crypto sector. But, the government has yet to act on an interministerial committee’s recommendations to ban all private cryptocurrencies.
RBI Lifts Branch Opening Restrictions for Bandhan Bank
By Editors | 28/02/2020
The ban was imposed in September 2018 for the bank’s failure to reduce its promoter’s ownership below a 40% ceiling within three years of its commencement.
Capital / Liquidity
RBI Extends External Benchmarking to Medium Enterprise Loans
By Editors | 27/02/2020
From 1 April, loans to medium enterprises must be linked to external interest rate benchmarks, expanding on a policy that took effect in October for retail and micro/small enterprise loans.
Securities / Derivatives
SEBI Forms Municipal Bonds Development Committee
By Editors | 18/02/2020
The committee will advise on regulation to develop the primary and secondary markets for municipal bonds.
Fintech / Regtech
SEBI Approves Live Sandbox Testing for Regulated Entities
By Editors | 18/02/2020
SEBI-registered entities can test new products, services and business models on a limited set of customers, for a specified period of time, with certain regulatory relaxations.
Market Infrastructure
RBI Proposes Authorisation of New Retail Payment Systems
By Editors | 12/02/2020
The draft framework is said to be aimed at addressing concerns that the NPCI has become ‘too big to fail’ and presents increased concentration risk.
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