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Fintech / Regtech
WhatsApp Wins Approval to Launch Payments Service in India
By Editors | 08/11/2020
The approval comes two and a half years after WhatsApp launched in beta mode, but was then forced to comply with India’s data localisation requirements.
RBI Allows Banks, NBFCs Added Co-lending Flexibility
By Editors | 08/11/2020
The new Co-Lending Model permits banks to co-lend with all registered NBFCs, providing greater operational flexibility to lenders and lowering borrower costs.
RBI Instructs Lenders to Repay ‘Interest on Interest’ to Borrowers
By Editors | 03/11/2020
Interest charged on interest for certain loans will be repaid by lenders under a government scheme, regardless of whether the loans were under moratorium.
Capital / Liquidity
RBI Defers Implementation of NSFR, Final Tranche of CCB
By Editors | 02/10/2020
The delays are a result of “continuing stress on account of Covid-19”, giving banks a further six months until 1 April 2021 to meet the higher requirements.
India: Parliament Passes Bill on Cooperative Bank Supervision
By Editors | 22/09/2020
The bill is aimed at protecting depositors and allows the RBI to restructure a cooperative bank without a moratorium period.
Crypto / Digital Assets
India Contemplates Law Banning Cryptocurrency Trading
By Sanday Chongo Kabange | 17/09/2020
The government will still encourage blockchain, and is exploring its use to manage land records, pharmaceutical supply chains and educational records.
Securities / Derivatives
India to Introduce New Interest Rate Derivatives Products
By Editors | 16/09/2020
The new products will be accessible to FPIs as well as non-residents transacting with Indian market makers through intermediaries.
Capital / Liquidity
RBI Orders Banks to Automate Asset Classification, Provisioning
By Editors | 16/09/2020
The RBI has given banks until 30 June 2021 to upgrade their systems to automate all asset classification, provisioning calculation and income recognition processes.
RBI Sets Out Guidelines on Bank Compliance Function
By Editors | 13/09/2020
The guidelines are aimed at ensuring a uniform approach with regard to compliance and risk management culture across the banking industry.
Capital / Liquidity
India Supreme Court Temporarily Extends Borrower Relief
By Editors | 11/09/2020
The extension gives the government two weeks to decide on whether to extend a loan moratorium for borrowers and whether an interest waiver is warranted.
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