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Capital / Liquidity
RBI Fines IDBI Bank for Bad Loan Provisioning Failures
By Garima Chitkara | 13/04/2018
RBI fines state-owned lender IDBI Bank INR30 million for non-compliance with bad loan recognition and provisioning norms; ruling will not have a material impact on the bank, said IDBI.
Market Infrastructure
India Defers Bank Adoption of New Accounting Standard One Year
By Garima Chitkara | 09/04/2018
RBI defers banks’ adoption of the Indian version of IFRS by one year; banks deemed unprepared for migration, government is yet to make necessary legislative amendments.
Market Infrastructure
India Directs Payment Firms to Store User Data Onshore
By Garima Chitkara | 09/04/2018
Payment service providers have been asked to move all consumer data, including end-to-end transaction details to India within six months to ensure easier access by the central bank for supervisory purposes. Foreign firms to be impacted more than domestic firms.
Crypto / Digital Assets
India Bars Banks from Cryptocurrency Dealings
By Manesh Samtani | 07/04/2018
Reports suggest banks will have three months to comply; central bank meanwhile explores feasibility of state-backed digital currency.
Securities / Derivatives
Indian Banks Can Spread Bond Losses Over Four Quarters
By Garima Chitkara | 05/04/2018
Banks to get a breather from taking immediate losses on rising government yields, as provisioning on NPLs have put pressure on profitability across the industry.
Market Infrastructure
India Bans Bank Issuance of Key Trade Finance Instrument
By Manesh Samtani | 16/03/2018
An estimated $10bn in LoUs will need to be wound down within three months, forcing banks to rebalance assets and liabilities.
Enforcement
SBI Fined for Noncompliance with Counterfeit Currency Rules
By Editors | 08/03/2018
Central bank investigators found that State Bank of India had not complied with rules on detection and impounding of counterfeit notes.
Enforcement
RBI Fines Axis Bank $460,000 for Bad Loan Classification Failures
By Editors | 07/03/2018
Statutory inspection revealed gross NPAs higher than Axis Bank’s reported numbers; Indian Overseas Bank also fined for KYC failures.
Recent Fraud Prompts India Trade Finance Freeze
By Editors | 03/03/2018
RBI audit of bank liabilities forces freeze on new letters of credit; foreign lenders reluctant to accept guarantees from Indian banks.
Securities / Derivatives
India Eases Foreign Investor Limits on Interest Rate Futures
By Editors | 02/03/2018
Aggregate long positions for all FPIs will be up to INR50 billion across any interest rate futures instrument.
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