The Reserve Bank of India (RBI) has released Working Paper No. 12/2022 titled “Predicting Exchange Rate in India: A Non-parametric Causality-in-Quantiles Approach” under the RBI Working Paper Series. The paper is authored by Seema Jaiswal.

The Reserve Bank of India (RBI) has released Working Paper No. 13/2022 titled “Is Implied Volatility Index (VIX) a Forward-Looking Indicator of Stock Market Movements in India?” as part of the RBI Working Paper Series. The paper is co-authored by Amarendra Acharya, Subrat Kumar Seet, and Prakash A. Salvi.

The Reserve Bank of India (RBI) has issued an “Alert List” of entities that are neither authorised to deal in foreign exchange under the Foreign Exchange Management Act, 1999 (FEMA), nor authorised to operate electronic trading platforms (ETPs) for forex transactions. The alert list, placed on the RBI website, aims to caution the public against transacting with unauthorised entities.

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹15 lakh on Thane Bharat Sahakari Bank Limited, Thane, Maharashtra, by an order dated August 29, 2022. The penalty was imposed for non-compliance with RBI directions on ‘Customer Protection – Limiting Liability of Customers of Co-operative Banks in Unauthorised Electronic Banking Transactions’. The penalty is levied under the powers conferred on RBI through Section 47 A (1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has selected two entities for the ‘Test Phase’ under its Regulatory Sandbox ‘On Tap’ application facility for the theme ‘Retail Payments’, announced earlier on October 8, 2021.

The entities selected are:

HDFC Bank (in partnership with Crunchfish AB): Their product ‘Offline Retail Payments’ enables customers and merchants to make and receive payments in offline mode. The solution aims to promote digital payment adoption in areas with no or low network connectivity by facilitating transactions without the need for a network connection.