Reserve Bank of India

Data Privacy

RBI to Explore New Regulatory Approach to Digital Lenders

By Editors | 14/01/2021

A new working group has been formed to study the risks of digital lending activities and recommend regulatory changes to enhance consumer protection and data security.

Operational Risk

RBI Directs Banks to Enhance Internal Audit Function

By Editors | 12/01/2021

Banks are encouraged to adopt the international standards for internal audit, such as those issued by the BCBS or the Institute of Internal Auditors.

Payments & Settlements

RBI Mandates LEI Use for Large Payments via RTGS, NEFT

By Manesh Samtani | 06/01/2021

From 1 April 2021, all non-individual bank customers initiating or receiving transactions over 500m rupees via the RTGS or NEFT systems will need an LEI.

KYC & CDD

RBI Announces Extension of KYC Registry to Legal Entities

By Editors | 22/12/2020

The RBI said regulated entities should upload KYC data pertaining to accounts of legal entities to the Central KYC Registry from 1 April 2021.

Payments & Settlements

RBI Invites Firms to Test Cross-border Payments Tech in Sandbox

By Editors | 21/12/2020

The RBI has reduced the net worth requirement of participating firms and said it will allow partnerships and LLPs to participate.

Payments & Settlements

India’s RTGS System to Be Available 24×7 from Monday

By Editors | 09/12/2020

RTGS members banks are directed to inform their customers of the change and to put in place necessary infrastructure to provide RTGS around the clock.

Liquidity Risk

RBI Allows Regional Rural Banks to Access Liquidity Facilities

By Editors | 08/12/2020

To date, regional rural banks have not been permitted to access the RBI’s liquidity windows or the Call/Notice market.

Trading & Investment

RBI to Enhance Guidelines for OTC Derivatives, CDS, Money Markets

By Editors | 08/12/2020

The RBI is looking to enhance governance of OTC derivatives market makers, establish consistency in money market and debt instruments, and update its CDS guidelines.

Capital Adequacy

RBI Directs Banks Not to Declare Dividends for FY2020

By Editors | 06/12/2020

Due to ongoing stress and heightened uncertainty amid the Covid-19 pandemic, the RBI wants to ensure banks can continue to conserve capital and support the economy.