The Reserve Bank of India (RBI) on February 07, 2025, issued a Statement on Developmental and Regulatory Policies.
The Statement sets out various developmental and regulatory policy measures relating to:
• Financial Markets: The RBI plans to introduce forward contracts in government securities, allow SEBI-registered non-bank brokers direct access to NDS-OM, and conduct a comprehensive review of trading and settlement timings across financial markets to enhance market efficiency and liquidity. Accordingly, it has been decided to set up a working group. The Group is expected to submit its report by April 30, 2025.
• Cybersecurity: To enhance cybersecurity and trust in digital banking, the RBI is introducing exclusive domains ‘bank.in’ for banks (registration from April 2025) and plans to launch ‘fin.in’ for non-bank financial entities, with IDRBT as the registrar.
• Payment Systems: The RBI plans to enable Additional Factor of Authentication (AFA) for international online card transactions to enhance security, with a draft circular to be issued for stakeholder feedback.
[Press Release: 2024-2025/2096]
