Reserve Bank Of India

India Could Relax Rules On Data With Payment Companies
India Could Relax Rules On Data With Payment Companies
July 11, 2018  |  Regulation

The Ministry of Finance in India is proposing that the government relax a directive that would require global payment firms to store the data of...

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Punjab National Bank Continues Internal Investigations Into $2B Diamond Heist Scandal
Punjab National Bank Continues Internal Investigations Into $2B Diamond Heist Scandal
April 12, 2018  |  International

India’s Punjab National Bank (PNB) is conducting an internal investigation into an alleged $2 billion fraud, vowing to come down on anyone involved in the...

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India Puts Crypto Ban On Banks
India Puts Crypto Ban On Banks
April 06, 2018  |  Bank Regulation

The Reserve Bank of India has banned regulated financial institutions in the country from dealing with cryptocurrencies, CNBC reported. “In view of the associated risks, it...

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India Police Tap Central Bank Officials To Help With PNB Inquiry
India Police Tap Central Bank Officials To Help With PNB Inquiry
April 06, 2018  |  International

Investigators in India are questioning four senior central bank officials as part of its investigation into the $2 billion fraud case at Punjab National Bank...

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India Wrote Off $37B In Bad Notes In Past Four Years
India Wrote Off $37B In Bad Notes In Past Four Years
April 06, 2018  |  Loans

India’s banking industry could be in trouble after the Narendra Modi government announced that $37 billion in loans have been written off by the country’s...

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In Invoice Financial Fraud, Blockchain Can’t Conquer Security Alone
In Invoice Financial Fraud, Blockchain Can’t Conquer Security Alone
April 05, 2018  |  B2B Payments

India today is a leader in blockchain innovation and experimentation. With a strong community of innovators at home, foreign FinTechs’ entrance into the Indian market...

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Internal Auditor Charged In $2B India Bank Fraud Scandal
Internal Auditor Charged In $2B India Bank Fraud Scandal
March 02, 2018  |  Security & Fraud

An internal auditor at a Mumbai branch of Punjab National Bank is accused of conspiring with other officials to defraud the lender of $2 billion,...

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More Arrests In Punjab National Bank Diamond Fraud Case
More Arrests In Punjab National Bank Diamond Fraud Case
February 20, 2018  |  Security & Fraud

India’s police took more action in their investigation of the loan scam at Punjab National Bank (PNB), arresting three more employees of the bank. According...

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India’s Grand (Cashless) Experiment, One Year On
India’s Grand (Cashless) Experiment, One Year On
November 23, 2017  |  International

Anniversaries are a time for reflection, and one year into India’s grand de-monetization drive, the results are mixed.  Counterfeiting activity has simply moved to embrace...

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