Reserve Bank of India

AML / KYC

RBI Allows Banks to Use Aadhaar for KYC

By Editors | 31/05/2019

The RBI will allow banks to use Aadhaar to authenticate and verify customer identities, provided customer consent is obtained.

Fintech / Regtech

SEBI Floats Discussion Paper on Sandbox for Regulated Entities

By Editors | 30/05/2019

Under the proposed framework, entities regulated by SEBI will be granted certain facilities and flexibilities to experiment with innovative solutions in a live environment and on real customers.

Securities / Derivatives

India Opens Voluntary Retention Route for FPIs

By Editors | 28/05/2019

The revised VRR scheme is open for allotment as of 27 May, allowing FPIs to invest in government securities and corporate debt up to an aggregate limit of $7.8bn.

Capital / Liquidity

RBI Proposes Liquidity Risk Management Norms for NBFCs

By Editors | 27/05/2019

Under the draft rules, NBFCs will have to meet to a 60% LCR requirement from April 2020, increasing each year to the full 100% LCR in April 2024.

Enforcement

RBI to Create New Unit to Strengthen Financial Sector Supervision

By Editors | 23/05/2019

The Reserve Bank of India has announced the establishment of a new unit to streamline its supervision and regulation of banks and financial companies.

Fintech / Regtech

SEBI Publishes Capital Markets Sandbox Framework

By Editors | 22/05/2019

SEBI’s sandbox framework for capital markets innovation comes just weeks after the RBI released its own sandbox framework for banking and payment services.

NBFCs Must Appoint Chief Risk Officer – RBI

By Editors | 20/05/2019

The CRO must function independently, with no other responsibility or ‘dual hatting’, and report directly to the MD, CEO, or risk management committee of the board.

Market Infrastructure

India to Quadruple Digital Transactions in Three Years – RBI

By Editors | 17/05/2019

In its three year roadmap for India’s payment and settlement systems, the RBI says it expects the number of digital transactions in the country to increase to 87 billion by December 2021.

Market Infrastructure

SWIFT Responds to India Cyber Threat With New Paper

By Editors | 13/05/2019

SWIFT has published a new paper to help financial institutions in India improve their monitoring of anomalous and potentially fraudulent transactions.