Reserve Bank of India

AML / KYC

RBI Updates Master Direction on KYC for Wire Transfers

By Sanday Chongo Kabange | 05/05/2023

The revised master directions highlight the need for all wire transfers to be accompanied by accurate and complete originator and beneficiary information.

Fintech / Regtech

RBI, BIS Launch G20 TechSprint Focusing on Cross-border Payments

By Editors | 05/05/2023

The 2023 TechSprint will focus on technology solutions to address illicit finance risk, FX and liquidity solutions, and technology for CBDC platforms.

AML / KYC

SEBI Mandates LEI Reporting Requirement for Debt Issuers

By Editors | 03/05/2023

Issuers of listed non-convertible securities, securitised debt instruments and security receipts must obtain and report their LEI by 1 September.

Capital / Liquidity

ESMA Follows Through with De-recognition of Indian CCPs

By Manesh Samtani | 03/05/2023

So far Indian markets have not faced disruptions. This is attributed to the concessions provided by French and German regulators.

Market Infrastructure

RBI Eases Restrictions on Funds Held in GIFT City by Indians

By Editors | 27/04/2023

The RBI removed a requirement for Indian residents to repatriate funds that lie idle for 15 days in GIFT City bank accounts. Restrictions on interest-bearing accounts also relaxed.

India, Russia in Advanced Talks on Trade Treaty

By Sanday Chongo Kabange | 18/04/2023

The RBI is also engaged in discussions with several other countries on the possibility of conducting trade in the rupee.

RBI Directs Lenders to Charge Loan Penalties More Fairly

By Editors | 13/04/2023

The RBI said penal charges on loans are intended to “inculcate a sense of credit discipline among borrowers” and as a “revenue enhancement tool”.

ESG / Sustainability

RBI Issues ‘Green Deposits’ Framework for Banks, NBFCs

By Editors | 12/04/2023

The allocation of funds raised through green deposits shall be subject to independent third-party verification and assurance each year, the RBI says.

Fintech / Regtech

RBI Finalises Rules for Outsourcing of IT Services by Banks

By Editors | 12/04/2023

RBI approval is not required for IT outsourcing arrangements, but they should be subject to on-site or off-site monitoring and inspection by regulators.