Reserve Bank of India

Market Infrastructure

UPDATED – RBI Removes RTGS, NEFT Fund Transfer Fees

By Editors | 07/06/2019

Industry players and banking experts say the move will not only boost digital payments, but also make transactions faster, safer and cost-effective.

Market Infrastructure

RBI Publishes Payment Systems Benchmarking Report

By Editors | 06/06/2019

Further efforts are needed to reduce paper clearing  and improve acceptance infrastructure (e.g. PoS devices) to enhance digital payments.

Enforcement

UPDATED – RBI Bans EY Member Firm from Auditing Banks

By Editors | 05/06/2019

Reports indicate the RBI had found large discrepancies in bad debt reported by banks for the 2015-2016 period, particularly in the cases of Axis Bank and YES Bank.

Capital / Liquidity

RBI Amends Large Exposures Framework for Banks

By Editors | 04/06/2019

The modified framework excludes all entities connected with the sovereign from definition of group of connected counterparties, such as exposures to or guaranteed by government.

AML / KYC

RBI Allows Banks to Use Aadhaar for KYC

By Editors | 31/05/2019

The RBI will allow banks to use Aadhaar to authenticate and verify customer identities, provided customer consent is obtained.

Fintech / Regtech

SEBI Floats Discussion Paper on Sandbox for Regulated Entities

By Editors | 30/05/2019

Under the proposed framework, entities regulated by SEBI will be granted certain facilities and flexibilities to experiment with innovative solutions in a live environment and on real customers.

Securities / Derivatives

India Opens Voluntary Retention Route for FPIs

By Editors | 28/05/2019

The revised VRR scheme is open for allotment as of 27 May, allowing FPIs to invest in government securities and corporate debt up to an aggregate limit of $7.8bn.

Capital / Liquidity

RBI Proposes Liquidity Risk Management Norms for NBFCs

By Editors | 27/05/2019

Under the draft rules, NBFCs will have to meet to a 60% LCR requirement from April 2020, increasing each year to the full 100% LCR in April 2024.

Enforcement

RBI to Create New Unit to Strengthen Financial Sector Supervision

By Editors | 23/05/2019

The Reserve Bank of India has announced the establishment of a new unit to streamline its supervision and regulation of banks and financial companies.