Reserve Bank of India

Fintech / Regtech

RBI Forms Committee to Develop Regulatory Framework for AI

By Editors | 03/01/2025

The committee includes experts from IIT Bombay, NASSCOM, IIT Madras, MEITy, Trilegal, HDFC Bank, Microsoft, and the RBI.

Enforcement

RBI Removes Business Restrictions on Two Edelweiss Group Firms

By Editors | 22/12/2024

The RBI is satisfied that adequate remedial measures have been put in place at the two entities to address its earlier supervisory concerns.

Crypto / Digital Assets

Ripple Launches USD Stablecoin on Global Crypto Exchanges

By Editors | 18/12/2024

RLUSD is backed by USD deposits, US treasuries and cash equivalents. Third-party attestations of the reserve assets will be published monthly.

Fintech / Regtech

RBI to Form Dedicated Committee to Develop Framework for AI

By Editors | 11/12/2024

The committee of experts shall recommend a “robust, comprehensive, and adaptable AI framework” for the financial sector, the RBI said.

Securities / Derivatives

RBI to Launch a New Interest Rate Benchmark Called SORR

By Manesh Samtani | 10/12/2024

The Secured Overnight Rupee Rate will be based on market repo and tri party repo transactions, which account for 98% of overnight money market transactions.

India Surprises Market With New RBI Governor Appointment

By Editors | 10/12/2024

Sanjay Malhotra, Revenue Secretary in the Ministry of Finance, was appointed as RBI governor for a three-year term.

Capital / Liquidity

RBI Announces Cut to Cash Reserve Ratio for Banks

By Editors | 08/12/2024

The CRR cut is expected to release $13.7bn in financial system liquidity, enabling banks to extend more loans to spur economic growth.

Indian Parliament Advances Bill to Amend Banking Regulations

By Editors | 05/12/2024

The bill makes as many as 19 amendments to existing banking laws, including allowing deposits to have up to four nominees in their accounts.

Fintech / Regtech

India: RBIH Wants Banks to Use AI to Detect Mule Accounts

By Editors | 03/12/2024

The Reserve Bank Innovation Hub is reportedly in talks with ten public and private banks about adopting its “Mulehunter.Ai” tool to identify mule accounts.