Reserve Bank of India

Securities / Derivatives

RBI, SEBI Mull Exemptions on New AIF Investment Rules

By Ajoy K Das | 23/01/2024

Exemptions from rules issued in December are being sought by lenders and funds for AIFs that are set up specifically to invest in distressed assets.

Capital / Liquidity

RBI’s Revised Norms on Fair Lending Practice Effective from April

By Ajoy K Das | 19/01/2024

Starting April, lenders can impose reasonable penal charges only on the amount of loan under default in a non-discriminatory manner as per their board approved policy.

Market Infrastructure

Google Pay and India’s NIPL Ink Pact to Expand UPI Globally

By Ajoy K Das | 18/01/2024

The partnership aims to help Indian travellers make payments overseas, develop UPI-like models in foreign countries and ease cross-border remittances.

Capital / Liquidity

RBI Proposes Harmonised Regulatory Framework for HFCs and NBFCs

By Ajoy K Das | 18/01/2024

The central bank proposes higher liquid assets for housing finance companies, smaller aggregate deposits, and permission to issue co-branded credit cards with banks.

Fintech / Regtech

RBI Issues Draft Norms for Fintech SROs

By Ajoy K Das | 16/01/2024

Fintech SROs must strike a balance between facilitating innovation and implementing regulatory requirements that protect consumers and contain risks.

AML / KYC

RUSI, FFIS Urge Greater Cross-Sector Collaboration on FinCrime

By Ranamita Chakraborty | 11/01/2024

The new report highlighted the underutilisation of payments infrastructure in economic crime analysis, citing challenges in policymaking.

Market Infrastructure

GIFT City Regulator Directs IBUs to Improve Cross-border Payments

By Ajoy K Das | 09/01/2024

IFSC Banking Units are asked to use Swift GPI and to explore how they can further speed up their processing of cross border payments.

AML / KYC

RBI Clarifies PEPs Definition in KYC Master Direction

By Ajoy K Das | 06/01/2024

The updated definition clarifies that PEPs include a person who “is entrusted by a foreign country with a public function”.

Securities / Derivatives

RBI Consolidates Norms for Currency Derivatives

By Ajoy K Das | 06/01/2024

Retail users can be classified as non-retail if an authorised dealer is satisfied that they have the requisite risk management capabilities.