Indian banks are under growing pressure to ensure their antimoney laundering and countering the financing of terrorism (AML/ CFT) measures align with global standards. In a recent report, the Financial Action Task Force (FATF) highlighted numerous compliance weaknesses in Indian financial institutions (Fls) and called for regulators to impose more "dissuasive" monetary penalties.
The intergovernmental body published in September 2024 a 368page mutual evaluation report on India's compliance with global AML/ CFT standards, based on an onsite visit in November 2023. In the report, FATF assessors expressed concerns over the quality and speed of suspicious transaction monitoring and reporting by Fls in India. They noted that some firms took 45-60 days to review and make decisions on alerts for simple issues and took even longer in more complex cases.
FATF assessors also raised concerns over whether Indian Fls are adequately countering terrorism financing (TF). Most of the Fls that assessors met were unable to demonstrate "how they transposed their knowledge of TF risks into, for instance, controls and alerts to monitor transactions" in the conflict areas highlighted in India's 2022 National Risk Assessment.
ãã®èšäºã¯ Banking Frontiers ã® November 2024 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,000 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ?  ãµã€ã³ã€ã³
ãã®èšäºã¯ Banking Frontiers ã® November 2024 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,000 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
RBI raises limits for cooperative banks
The Reserve Bank of India (RBI) raised The Cooperative Banks (UCBs) to 30 million per borrower and increased their aggregate exposure to housing, real estate, and commercial real estate loans to 25% of total loans.
Empowering Women for Women-Led Growth in India's Viksit Bharat
Highlights of a panel discussion organized by Enqube in Mumbai:
Indian private banks are surmounting the storm
A analytical note by CareEdge on the Indian banking industry paints a positive picture for Indian private banks:
Affordable housing finance sees subdued growth
A recent study by CRISIL shows that affordable housing finance constitutes 34% of the overall housing finance market:
Shift Employees to VPN; Shift Data to Cloud
Ravi Lalwani: Given the massive shift towards mobile, what kinds of cyber frauds have increased the most?
Propelld: 29% women borrowers, of whom 40% are NTC
Propelld is an education loan focused NBFC. Nikunj Agarwal, Head Fundraise, Financial & Alliances, gives insights on women borrowers:
A Quantamental Approach
In a rapidly evolving financial landscape, Shriram Asset Management Company (AMC), under the leadership of Kartik Jain, MD & CEO, combines innovation, technology, and human insight to tackle investor needs and industry challenges.
Confidence Ignite the Spirit
In the rather tumultuous year that passed by, we witnessed several earth-shaking events.
Energizing the body, Calming the mind
Two things learnt in 2024: 1. If something needs to be changed, make the change quickly and avoid wasting time. 2. Focus on improving self-control.
HKMA launches crucial Gen AI sandbox
The Hong Kong Monetary Authority has just launched the first cohort of its Gen AI sandbox focusing on risk management, anti-fraud systems and customer experience:
