The Reserve Bank of India (RBI) has released the Report on Trend and Progress of Banking in India 2021-22, a statutory publication in compliance with Section 36 (2) of the Banking Regulation Act, 1949. The report provides an overview of the performance of the banking sector, including co-operative banks and non-banking financial institutions, during 2021-22 and 2022-23 so far.

The Reserve Bank of India (RBI) has announced a nation-wide consumer financial awareness programme scheduled for November 2022. Building on its earlier initiatives, including the “Azadi Ka Amrit Mahotsav” campaign featuring Ombudsman Speak and Ombudsman Talkathon events, the programme aims to deepen public understanding of financial rights, safe banking practices, and grievance redress mechanisms.

The Financial Action Task Force (FATF), vide public document ‘High-Risk Jurisdictions subject to a Call for Action’ - October 21, 2022, has called on its members and other jurisdictions to refer to the statement on Democratic People’s Republic of Korea (DPRK) and Iran adopted in February 2020 which remains in effect. Further, Myanmar has been added to the list of High-Risk Jurisdictions subject to a Call for Action in the October 2022 FATF plenary. FATF has called on its members and other jurisdictions to apply enhanced due diligence measures proportionate to the risk arising from Myanmar.

The Reserve Bank of India (RBI) has released a Draft Master Direction on Information Technology Governance, Risk, Controls and Assurance Practices for public consultation. This draft consolidates and updates existing guidelines related to IT governance, business continuity management, and information systems audit, as previously announced in the Statement on Developmental and Regulatory Policies along with the bi-monthly Monetary Policy Statement dated February 10, 2022.

The Reserve Bank of India (RBI) has published the Standard Operating Procedure (SOP) for the Inter-operable Regulatory Sandbox (IoRS), prepared by the Inter-Regulatory Technical Group on FinTech (IRTG on FinTech) under the Financial Stability and Development Council – Sub Committee (FSDC-SC). The SOP is aimed at facilitating testing of innovative products/services that fall under the regulatory ambit of more than one financial sector regulator, including RBI, SEBI, IRDAI, IFSCA, and PFRDA.