RESERVE BANK OF INDIA

Capital / Liquidity

Allahabad Bank Reports $258mn Fraud by Indian Steelmaker

By Editors | 17/07/2019

Following a similar report from Punjab National Bank earlier this month, Allahabad Bank has reported a $258mn fraud at Bhushan Power & Steel.

Crypto / Digital Assets

Leaked Draft Shows India’s Zero-Tolerance for Cryptocurrency

By Editors | 17/07/2019

The leaked draft bill being circulated, though unauthenticated, specifies up to 10 years’ jail for buying, selling or storing cryptocurrency in India.

Market Infrastructure

RBI Proposes to Extend Trading Hours for Forex, Money Market

By Editors | 11/07/2019

An RBI working group has proposed extending onshore FX trading from 5pm to 9pm, in a bid to recapture liquidity lost to offshore markets in recent years.

Enforcement

Punjab National Bank Detects $550mn Fraud by Indian Steelmaker

By Editors | 09/07/2019

Punjab National Bank says Bhushan Power & Steel misappropriated bank funds and manipulated its books to raise funds from lenders.

Capital / Liquidity

India’s 2019 Budget Grants Lifeline to State Banks, NBFCs

By Editors | 08/07/2019

The government announced a fresh capital infusion for state banks, credit guarantees on NBFC assets, and stronger supervisory powers for the RBI.

Market Infrastructure

RBI to Review Framework for Core Investment Firms

By Editors | 04/07/2019

Concerned that oversight of increasingly complex core investment firms is now inadequate, the RBI has set up a working group to review its framework.

Capital / Liquidity

RBI Relaxes Leverage Ratio to Boost Lending

By Editors | 02/07/2019

The RBI has reduced the leverage ratio from 4.5% at present to 4% for D-SIBs (domestic systemically important banks) and 3.5% for other banks.

Capital / Liquidity

India’s Banks Are Becoming More Resilient: RBI

By Editors | 01/07/2019

The RBI says gross NPA ratios and loan provisioning are improving, but it warns that capital adequacy at some banks will fall below requirements without more government cash.

Securities / Derivatives

RBI Issues Consolidated Directions for Interest Rate Derivatives

By Editors | 28/06/2019

Under the new directions, stock exchanges and OTC market-makers have been given the flexibility to design and structure IRD products tailored to the needs of market participants.