Reserve Bank of India

Market Infrastructure

RBI Updates Oversight Framework for FMIs, Retail Payment Systems

By Editors | 14/06/2020

The framework details the oversight objectives, supervisory processes and assessment methodology the RBI will apply to financial market infrastructures and retail payment systems.

Capital / Liquidity

RBI Proposes New Norms for Loan Sales and Securitisations

By Editors | 09/06/2020

The draft frameworks will make it easier for banks and other lenders to remove loans from their books amid increasing asset quality and liquidity pressures.

Fintech / Regtech

RBI Creates $66mn Fund to Boost E-Payments Infrastructure

By Editors | 07/06/2020

The RBI will initially contribute half of the funding; the rest will come from card-issuing banks and card networks, who will also cover operational expenses.

Enforcement

RBI Fines Citibank, Six Others for Non-Compliance

By Editors | 01/06/2020

Citibank did not comply with obligations to obtain declarations from customers about the credit facilities they have with other banks before granting them non-fund based facilities.

AML / KYC

India to Tighten KYC Rules for Hong Kong, China FPIs

By Manesh Samtani | 26/05/2020

Alongside stricter KYC procedures during FPI registration, India may set a 10% beneficial ownership cap on foreign investment from China including Hong Kong.

Capital / Liquidity

RBI Cuts Interest Rate Again, Extends Debt Moratorium

By Editors | 24/05/2020

The RBI has also increased the large exposures cap for banks from 25% to 30% and granted FPIs three more months to comply with requirements under the voluntary retention route.

Market Infrastructure

RBI Directs IFSC Banking Units to Report OTC Trades to CCIL

By Editors | 20/05/2020

IFSC banking units are required to report their OTC foreign exchange, interest rate and credit derivative transactions to CCIL’s reporting platform from 1 June.

Capital / Liquidity

India Makes Additional Funding Available to NBFCs

By Editors | 14/05/2020

A $4bn special liquidity scheme will be provided for NBFCs, and the partial credit guarantee scheme already in force is being expanded to also cover non-investment grade NBFC debt.

Securities / Derivatives

India: Gift City Exchanges Launch First Rupee Derivatives

By Editors | 09/05/2020

Rupee futures and options will offer overseas market participants new onshore tools to hedge their India exposures, reducing their reliance on offshore currency markets.