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AML / KYC
RBI Limits Investment in NBFCs from FATF Non-compliant Jurisdictions
By Editors | 15/02/2021
Investors from black-listed or grey-listed FATF jurisdictions will not be allowed to acquire ‘significant influence’ in NBFCs, the RBI said.
Capital / Liquidity
RBI Extends Liquidity Support Measures for Financial Sector
By Editors | 10/02/2021
The RBI has deferred implementation of the NSFR and the final tranche of the CCB, while also extending a number of other liquidity-boosting initiatives.
Securities / Derivatives
RBI Allows Indian Residents to Open GIFT City Accounts
By Editors | 09/02/2021
Funds deposited in GIFT City foreign currency accounts by Indian residents can only be used for investment purposes and not for spending.
Market Infrastructure
RBI Issues Guidance to Enhance Internal Audit Function at NBFCs, UCBs
By Sanday Chongo Kabange | 07/02/2021
Internal audit frameworks of select NBFCs and UCBs will have to include an evaluation of the risk management systems and control procedures used in various areas of operations.
Capital / Liquidity
India Announces Support for Banks in Budget for New Fiscal Year
By Editors | 02/02/2021
The budget includes the establishment of a ‘bad bank’ to take over banks’ bad assets and a plan to inject INR 200 billion into state lenders.
Crypto / Digital Assets
India Set to Introduce Bill Banning Private Cryptocurrencies
By Editors | 01/02/2021
The proposed bill will also provide for the creation of a framework for an official digital currency that will be issued by the RBI.
RBI Enhances Rules for Banks’ Grievance Redress Mechanisms
By Editors | 30/01/2021
The framework provides a mechanism for the ombudsman to recover the cost of redressal from banks whose complaints exceed their peer group average.
Market Infrastructure
Policy Rethink Needed to Promote Green Finance Development in India
By Manesh Samtani | 27/01/2021
India needs a policy framework that addresses existing frictions at both the national and state levels, says a new paper from the RBI.
Capital / Liquidity
RBI Proposes New Regulatory Approach to Contain NBFC Risks
By Editors | 25/01/2021
About 25 to 30 NBFCs considered systemically significant will have to maintain a 9% CET1 ratio and be subject to a range of other bank-like regulatory requirements.
Capital / Liquidity
RBI Warns of Deteriorating Asset Quality, Capital Buffers
By Editors | 14/01/2021
Stress tests indicate 4 banks may fail to meet minimum capital requirements by September 2021 under the baseline scenario.
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