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Securities / Derivatives
RBI Task Force Urges Development of Secondary Market for Loans
By Editors | 05/09/2019
The task force recommends easing rules for loan asset securitisation, and to allow secondary market participation from funds and insurers.
AML / KYC
RBI Grants Another Extension for e-Wallet KYC Compliance
By Editors | 03/09/2019
This is the fourth time the deadline has been extended. Wallet companies were first asked to complete KYC processes for each customer by December 2017.
Market Infrastructure
Indian Banks Taking Nearly Two Years to Detect Fraud: RBI
By Editors | 02/09/2019
The RBI said in its annual report that banks take an average of 22 months to detect fraud, and up to 55 months for frauds involving large amounts.
Capital / Liquidity
RBI to Transfer $24bn to Govt on Committee Recommendation
By Editors | 28/08/2019
The transfer will comprise of a $17.2bn income surplus and $7.4bn in excess provisions resulting from a newly revised economic capital framework for the RBI.
Crypto / Digital Assets
RBI Issues Enabling Framework for Regulatory Sandbox
By Editors | 14/08/2019
The RBI has set a minimum net worth criteria of $35,000 for sandbox participants, half the amount specified in April’s draft.
Capital / Liquidity
RBI Props Up NBFCs Through On-Lending Guidance
By Editors | 14/08/2019
Banks are mandated to lend a portion of their funds to priority sectors. Allowing NBFCs to serve as middlemen for such lending provides them a liquidity backstop.
Market Infrastructure
RBI Task Force Suggests Enhancements to Onshore Rupee Market
By Editors | 10/08/2019
The task force recommends implementation of margin requirements for non-centrally cleared OTC derivatives “at the earliest”.
Capital / Liquidity
RBI Cuts Consumer Credit Risk Weight, Offers Boost to NBFCs
By Editors | 09/08/2019
The RBI will increase bank exposure limits for NBFCs, allow on-lending to priority sectors, and enable near-real-time tracking of payments fraud through the creation of a centralised registry.
Enforcement
RBI Issues Fines on Multiple Banks Totalling $2.9mn
By Editors | 06/08/2019
The fines, involving 15 banks in total, were related to delays in reporting fraud and non-compliance with various other RBI norms.
Market Infrastructure
RBI Tightens Criteria for Board Appointments at State Banks
By Editors | 05/08/2019
The revised criteria for determining the ‘fit and proper’ status of proposed candidates include age, education, experience, and track record, among other criteria.
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