Reserve Bank of India

Securities / Derivatives

RBI Permit Banks to Offer Non-deliverable FX Derivatives to Resident Indians

By Editors | 08/06/2023

HSBC India executed its first non-deliverable FX derivative transaction with Reliance Industries just a day after the RBI’s policy change.

Fintech / Regtech

RBI Consults on Cyber Resilience Guidelines for Payment System Operators

By Sanday Chongo Kabange | 06/06/2023

The draft guidelines are intended to help non-bank payment system operators mitigate emerging cyber security risks.

RBI Panel Offers Recommendations on Improving Bank Services

By Editors | 05/06/2023

The committee issued recommendations to foster a more customer-centric approach in the financial services industry.

RBI Governor Raises Concerns Over India Bank Governance

By Ranamita Chakraborty | 30/05/2023

RBI governor Shaktikanta Das said banks are employing “smart accounting methods” to artificially boost performance and mask stressed loans.

AML / KYC

Indian Authorities Investigating Three ‘Top Brokers’ – Reports

By Editors | 16/05/2023

Three top brokers, who were not named, were found to be engaged in “large-scale money laundering activities” with the involvement of PEPs.

Market Infrastructure

Banks Must Ensure LIBOR Transition Work is Complete: RBI

By Editors | 14/05/2023

No new transactions should be undertaken using USD LIBOR or MIFOR, and appropriate fallbacks must be in place in legacy contracts.

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.