Reserve Bank of India

Market Infrastructure

Apple Shelves India Payments Expansion, Google to Move Ahead

By Manesh Samtani | 11/09/2018

Apple shares concerns over data localisation with Mastercard, Visa, Amazon, WhatsApp and PayPal, but Google will be ready to comply by December.

Enforcement

RBI Fines Three State Banks for Fraud Reporting Failures

By Editors | 10/09/2018

Union Bank of India, Bank of India and Bank of Maharashtra are each fined 10 million rupees.

Market Infrastructure

India Launches Payments Bank Using Postal Network

By Editors | 04/09/2018

On 1 September, India’s postal services launched a payments bank to offer basic banking and remittance services, starting from 650 post offices with an aim to expanding to its network of 155,000 post offices by 31 December.

Fintech / Regtech

Xiaomi Seeks Entry to India Payments Market

By Editors | 30/08/2018

The Chinese smartphone maker is conducting tests for its upcoming payments service in India, which is set to be powered by the UPI, if approval is granted by the RBI.

Securities / Derivatives

Axis Becomes First Bank Subsidiary to Offer Commodity Derivatives

By Editors | 30/08/2018

Clients can now trade commodity futures and options on the MCX; trading on NCDEX to be supported by end-September.

Capital / Liquidity

RBI Deadline for Bad Loan Resolution Passes

By Manesh Samtani | 29/08/2018

The central bank’s February circular allowed banks 180 days to resolve defaulted loans over 20bn rupees; many of these accounts will now be referred to bankruptcy courts.

Capital / Liquidity

RBI Restates Case For Public Credit Registry

By Garima Chitkara | 24/08/2018

RBI deputy governor says that a public credit registry, with inputs from the corporate registration and GST database, will help increase access to credit in India.

Capital / Liquidity

India’s Government Asks RBI to Ease Pressure on State Banks

By Manesh Samtani | 23/08/2018

Government wants central bank to review criteria for releasing banks from PCA framework, shift to Basel III capital standards.

AML / KYC

SEBI Extends Deadline to Provide FPI Beneficial Ownership Details

By Garima Chitkara | 22/08/2018

Requirement to provide details of beneficial ownership extended to end-December, after market participants asked for a review of the FPI guidelines and more time to comply.