"The current times are interesting, profitable, and challenging for the financial sector. Interesting because the level of competition is going to increase manifold, both for customers as well as for talent, transforming even the sleepiest areas in financial services; profitable because new technologies, information, and new techniques will open up vastly new business opportunities and customers; and challenging because competition and novelty constitute a particularl

The Reserve Bank of India today released on its website, “Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector”. Some of the key aspects of the Guidelines include: (i) resident individuals and professionals having 10 years of experience in banking and finance at a senior level are also eligible to promote universal banks; (ii) large industrial houses are excluded as eligible entities but are permitted to invest in the banks up to 10 per cent; (ii

The Reserve Bank of India has imposed monetary penalty on the following banks for violation of regulatory directions / instructions / guidelines, among other things, on KYC norms. The details of the penalty are: S. No. Name of the bank Penalty Amount (in ₹ million) 1. Allahabad Bank 20 2. Bank of India 10 3. Bank of Baroda 50 4. Canara Bank 20 5. Corporation Bank 10 6. HDFC Bank 20 7. IndusInd Bank 20 8. Punjab National Bank 30 9. RBL Bank 10 10. SBBJ 20 11. SBM 10 12

The Reserve Bank of India has today placed on its website draft guidelines for computing exposure for counterparty credit risk (CCR) arising from derivative transactions and draft guidelines on capital requirements for bank exposures to central counterparties (CCPs) for comments and feedback. The guidelines are based on the framework finalised by Basel Committee on Banking Supervision (BCBS). The proposed revised guidelines will better capture the risk arising from ov

The Reserve Bank of India has reviewed the extant guidelines on ownership in private sector banks which envisaged diversified shareholding in private sector banks by a single entity/corporate entity/group of related entities. The guidelines have been reviewed against the background of the guidelines on licensing of new banks in the private sector issued in February 2013, the need for additional capital for the banks consequent to the implementation of Basel III capita

The Reserve Bank of India today released on its website, “Draft Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector”. It has sought views/comments on the draft guidelines from banks, non-banking financial institutions, industrial houses, other institutions and the public at large. Suggestions and comments on the draft guidelines may be sent by June 30, 2016 to the Chief General Manager, Reserve Bank of India, Department of Banking Regulation, Ce