SBI, HDFC and ICICI bank continue to be named as banks that are ‘Too big to fail’

The Reserve Bank of India on Monday released the 2022 list of Domestic Systemically Important Banks (D-SIBs). State Bank of India (SBI), HDFC Bank and ICICI Bank continue to be domestic systematically important banks (D-SIBs), under the same bucketing structure as in the 2021 list of D-SIBs. Systemically Important Banks (SIBs) are perceived as banks…

RBI announces the migration of CPFIR (FRAUD) Reporting to DAKSH

Effective from January 01, 2023, the Banks and non-bank PPI entities shall commence reporting payment frauds in DAKSH. According to RBI circular, this reporting was earlier facilitated through Electronic Data Submission Portal (EDSP) and is being migrated to DAKSH through which scheduled commercial banks and non-bank prepaid payment instrument (PPI) issuers report payment frauds, to…

RBI revises regulatory framework and prescription for declaring Financially Sound and Well Managed (FSWM) category UCBs

RBI on Thursday revised the regulatory framework for catogorisation of Urban Co-operative Banks (UCBs) based on net worth, CRAR, and reserve ratios and also a prescription for the declaration of Urban Cooperative Banks as Financially Sound and Well Managed (FSWM) category banks. Based on the recommendations of the Expert Committee on Urban Co-operative Banks, the…

India and Japan exchanged letter of cooperation pursuant to Europe derecognized Indian Clearing Houses

The Reserve Bank of India (RBI) and the Financial Services Agency (FSA), Japan on Wednesday exchanged letters of cooperation in the field of Central Counter Parties (CCPs) with the objective of improving mutual cooperation. The exchange of letters takes place pursuant to the European and the UK regulators having derecognised various Indian clearing houses, including…