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Enforcement
RBI to Establish New Banking Fraud Oversight Division
By Editors | 08/04/2020
The initiative has reportedly been sped up in response to recent frauds at Yes Bank and Punjab National Bank.
Market Infrastructure
RBI Reduces Market Hours to Curb Volatility
By Editors | 06/04/2020
During India’s lockdown, currency, bond and money markets will operate for only 4 hours. SEBI has also brought forward the cut-off times for the mutual fund industry.
AML / KYC
The Four e-KYC Models Around the World
By Claus Christensen | 05/04/2020
Claus Christensen at Know Your Customer Ltd identifies four e-KYC models in use across the world, but says that harmonisation and consolidation of these schemes is likely.
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.
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