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Market Infrastructure
India to Force Foreign Brokers to Store Data Locally
By Editors | 15/01/2019
SEBI plans to mandate that data on Indian customers be stored on local servers, or for a real-time backup to be created to enable access from within the country.
Enforcement
RBI Imposes Monetary Penalty on Citibank India
By Editors | 14/01/2019
The ₹30mn penalty is based on deficiencies in regulatory compliance related to ‘fit and proper’ requirements for bank directors.
Capital / Liquidity
India Delays Implementation Of Capital Conservation Buffer By One Year
By Editors | 11/01/2019
The RBI has announced the final tranche of the capital conservation buffer will be applicable from 31 March 2020 instead of 31 March 2019.
Capital / Liquidity
RBI Turns Down Bank Requests for Special Classification of IL&FS Loans
By Editors | 10/01/2019
Banks will need to provision for IL&FS assets at the standard rate of 15% in the first year in the December quarter and will not get the six month reprieve they had asked for.
Market Infrastructure
UPDATED – Losses from Bank Fraud Up 72 Percent – RBI
By Editors | 07/01/2019
According to RBI data, the higher losses are in large part due to increasing cybercrime as well as the Punjab National Bank scandal in February 2018.
Capital / Liquidity
Easing Bank Capital Requirements Would Hurt Economy – RBI
By Editors | 03/01/2019
The RBI says that current provisioning is inadequate to cover future losses from bad loans, which have been underrecognised by Indian banks.
Capital / Liquidity
UPDATED – RBI Allows Lenders One-Time Restructuring of MSME Loans
By Editors | 01/01/2019
Banks and NBFCs will be allowed to restructure defaulted loans not yet classified as NPAs, provided the borrower has aggregate exposures less than $3.6mn.
Capital / Liquidity
RBI ‘Expert Committee’ to Determine Best Use of Central Bank Reserves
By Editors | 30/12/2018
The committee is tasked with suggesting an adequate level of reserves for the central bank and proposing a policy for distributing dividends to the government.
Capital / Liquidity
India Seeks Parliamentary Approval to Infuse More Capital into Banks
By Editors | 21/12/2018
The government plans to pump $11.8 billion into public sector banks to raise them out of the RBI’s PCA framework and increase the banking system’s lending capacity.
Big Picture
Indian Government Could Undermine Banking Sector Reforms – S&P
By Editors | 18/12/2018
Restrictions on the RBI’s authority to reform governance of public sector banks are seen as a weakness in its mandate and could undermine financial stability, says S&P Global Ratings.
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