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Enforcement
RBI Under Fire for Failure to Detect $1.8bn Loan Fraud
By Manesh Samtani | 21/02/2018
Central bank audits failed to detect loan fraud using Punjab National Bank guarantees for over seven years; overseas branches which granted loans also under scrutiny.
India Toughens Bad Loan Resolution Framework
By Editors | 15/02/2018
New framework will force banks to reclassify stressed accounts and initiate steps towards resolution, immediately on default.
Fintech / Regtech
India to Stiffen Personal Privacy Law, Create Fintech Sandbox
By Samuel Riding | 12/02/2018
Inter-regulatory group concerned about ‘dearth’ of coherent law on customer data, recommends multiple measures to support development of fintech regulatory framework.
Enforcement
RBI to Set Up Dedicated Ombudsman for NBFCs
By Editors | 09/02/2018
New ombudsman scheme will initially cover deposit-taking nonbank financial companies; rules to be laid out this month.
Capital / Liquidity
IMF, World Bank Issue Reports on India Financial Supervision, Market Infrastructure
By Samuel Riding | 24/01/2018
Reports praise progress but suggest more can be done on governance at public sector banks, market infrastructure risk management, among other issues.
AML / KYC
India’s Biometric Identity Database Vulnerable to Cyber Attacks: RBI Research
By Garima Chitkara | 11/01/2018
Aadhaar throwing up issues around data security even as financial benefits of the nation-wide biometric identification system are unclear.
India Public Sector Banks Vulnerable: IMF
By Editors | 26/12/2017
Greater RBI oversight and restructuring needed in addition to recapitalisation; High NPAs and problematic corporate balance sheets also pose challenges.
Capital / Liquidity
India Financial System Stable Despite Worsening Asset Quality – RBI
By Garima Chitkara | 26/12/2017
Gross NPAs and asset quality likely to worsen until September 2018 even as capital flows into equity and debt markets remain elevated.
Crypto / Digital Assets
India’s Highest Court Considering Petition Calling for Bitcoin Regulation
By Garima Chitkara | 16/11/2017
Petitioner says central bank, securities regulator refusing to take responsibility for bitcoin regulation by not defining as currency or commodity
Capital / Liquidity
India to Require Biggest Corporate Borrowers to Use LEIs
By Editors | 06/11/2017
Corporate borrowers which do not satisfy LEI requirement will not be allowed any more credit amid continued efforts to clean up bad debt.
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