Reserve Bank of India

Enforcement

SWIFT Related Fines Imposed by RBI Total $10mn Across 36 Banks

By Editors | 11/03/2019

The number of banks fined by the RBI for failing to integrate their core banking systems with SWIFT has now risen to 36, with fines totaling $10.16mn.

Enforcement

UPDATED – RBI Fines Multiple Banks for SWIFT Integration Non-Compliance

By Editors | 05/03/2019

The penalties follow directions issued by the RBI in February 2018 requiring banks to link their core banking systems with the SWIFT network.

Securities / Derivatives

India Offers FPIs a New Route to Debt Markets

By Editors | 04/03/2019

While the RBI introduces a new scheme to encourage FPI participation in India’s debt markets, SEBI has tweaked valuation norms make debt funds more secure for investors.

Market Infrastructure

RBI Proposes Overhaul of Bank Executive Compensation Norms

By Editors | 28/02/2019

The proposals include a minimum 50% variable component, a compulsory deferral mechanism, and clawback provisions to ensure compensation reflects performance.

AML / KYC

RBI Extends KYC Compliance Deadline for e-Wallet Firms

By Editors | 27/02/2019

Following months of intense lobbying by e-wallet providers, the RBI has extended the deadline for completion of KYC processes by six months.

Capital / Liquidity

RBI Tightens Norms to Stem Flow of Credit to NBFC Sector

By Editors | 27/02/2019

The central bank has changed its risk weighting norms for bank exposures to NBFCs, making it more costly to lend to those that are rated poorly.

Capital / Liquidity

RBI Removes Three More Banks from PCA Framework

By Editors | 26/02/2019

Allahabad Bank and Corporation Bank have been released from PCA restrictions following the government’s capital infusion last week; Dhanlaxmi Bank was found not in breach of any PCA risk thresholds.

RBI to Pay $3.9bn Interim Dividend to Government

By Editors | 19/02/2019

India’s central bank will pay a $3.9bn interim dividend to the government amid pressures to transfer its surplus reserves.

Market Infrastructure

RBI Consults on New Requirements for Benchmark Administrators

By Editors | 18/02/2019

The draft directions under consultation include requirements related to administrators’ minimum net worth, governance arrangements, and organisational structure, among other requirements.