Tagged: reserve bank of india

October 31, 2018 @ 9:15 pm By Cali Haan  |  

Politicians and regulators attending a recent meeting of the Indian Financial Stability and Development Council (FSDC) were briefed  that a dedicated “High-level Committee” chaired by the country’s Secretary of Economic affairs is, “deliberat(ing)…to devise an appropriate legal framework to ban use of private cryptocurrencies in India…”… Read More

October 25, 2018 @ 8:42 am By Erin Hobey  |  

Paytm Payments Bank has been in flux since this past summer when the Reserve Bank of India (RBI) put the kibosh on the platform’s plans to  onboard new customers; as indicated on its website: “Paytm Payments Bank Limited has been prohibited by Reserve Bank of… Read More

August 31, 2018 @ 10:26 am By JD Alois  |  

The Reserve Bank of India (RBI) published its annual report this week and buried within the massive tome are many indications as to the banks perspective on Fintech. One item of note is the fact the RBI is currently studying the possibility of issuing a… Read More

June 17, 2018 @ 2:05 pm By JD Alois  |  

In April of this year, the Reserve Bank of India (RBI) commented on the status of cryptocurrencies. The RBI stated “we have decided to ring fence the RBI regulated entities from the risk of dealing with entities associated with virtual currencies. They are required to… Read More

October 4, 2017 @ 7:56 pm By JD Alois  |  

The Reserve Bank of India (RBI) is out with “Master Directions” regarding non-banking financial companies or peer to peer lenders. RBI indicated last month P2P lenders would not be considered banks. The governmental directive is officially known as the “Non-Banking Financial Company – Peer to… Read More

September 21, 2017 @ 7:46 am By Samantha Hurst  |  

Reserve Bank of India recently announced it will be classifying peer-to-peer lending platforms as non-banking financial institutions. According to Economic Times, Sudarshan Sen, executive director of RBI, announced that the regulator is currently waiting for the gazette notifications from the central government for the final… Read More

September 18, 2017 @ 11:42 am By Samantha Hurst  |  

InstaReM (IE instant remittance), a Singapore-headquartered fintech start-up that convenient, fast and cost-effective cross-border money transfers to individuals and businesses, announced on Monday it has received regulatory approval from the Reserve Bank of India (RBI) for facilitating overseas remittances from India. InstaReM stated its plans to… Read More

August 18, 2016 @ 1:55 am By JD Alois  |  

In Mumbai this week there was an annual banking conference where Indian government officials presented or participated. The Hindu interviewed Reserve Bank of India Deputy Governor R Gandhi and he made several interesting statements. According to Gandhi; “Banking is necessary, but banks are not adding…… Read More

May 29, 2016 @ 11:59 am By JD Alois  |  

The peer to peer lending industry in India has been slow to evolve in contrast to many other nations. Yet India is the second most populous country with more than 1.2 billion people and is the most populous democracy in the world. The opportunity for… Read More

May 2, 2016 @ 8:55 am By JD Alois  |  

Embedded below is the consultation paper crafted by the Reserve Bank of India (RBI) in anticipation of creating a regulatory regime for peer to peer lending.  The document sets out to review the various legal frameworks in place around the world for peer to peer… Read More

April 10, 2016 @ 2:59 pm By JD Alois  |  

In the first bi-monthly Monetary Policy Statement, 2016-17 Dr. Raghuram G. Rajan,  Governor of the Reserve Bank of India, stated that a conceptual document will be posted on their website by the end of the month.  According to the statement from last week; Peer to Peer… Read More

January 21, 2016 @ 5:43 am By Erin Hobey  |  

Moody’s Investors Service avers that the development of domestic securitization markets will help India and China achieve their common goal of building inclusive financial systems that will ultimately bring affordable credit to the underprivileged segments of their societies and which are usually excluded from the conventional banking… Read More

January 8, 2016 @ 5:06 pm By JD Alois  |  

Like the rest of the world, India is moving forward with new forms of finance. Last month, the Securities and Exchange Board of India stated it would reveal crowdfunding norms “soon”.  Now at a conference taking place in Mumbai, R. Gandhi, deputy governor of the Reserve Bank of… Read More

August 25, 2015 @ 10:51 am By JD Alois  |  

Speaking at the annual FBIC Conference that is taking place this week in Mumbai, SS Mundra, Deputy Governor of the Reserve Bank of India, called for more regulation in the burgeoning online finance space – including crowdfunding and peer to peer lending. “Crowdsourcing and peer… Read More