T Rabi Sankar

The dispute between Indian banking regulator and ESMA has erupted after the latter in October 2022 de-recognised the Clearing Corporation of India Limited, due to a lack of audit and inspection rights over the local clearing house.

Fintech regulations: Industry players pitch for simpler KYC norms, access to cheaper capital

The pitches stem from RBI deputy governor T Rabi Sankar’s recent remarks that the central bank will come out with regulations for the fintech sector soon.

MC Explains: What is QR Code based coin vending machine? All you need to know

RBI is preparing QR Code based Coin Vending Machine - Pilot project announced in the February 8 monetary policy

RBI Policy | Coin vending machine to improve distribution of coins into the system: RBI Deputy Governor Rabi Sankar

The pilot project is planned to be initially rolled out at 19 locations in 12 cities across the country.

Risk making wrong norms for crypto without more data: RBI Deputy Governor Rabi Sankar

Rabi Sankar also said regulators, globally, should be more forthright when dealing with new concepts. According to the central banker, the "crypto craze" may not have become so big if regulators had not provided an implicit approval of sorts by saying they need to be regulated

How e-rupee is different from UPI, RBI Governor explains

RBI Deputy Governor T Rabi Sankar separately explained that retail CBDC can have multiple use cases and its evolution will depend on how the Indian startup and fintech ecosystem innovates

Robust benchmarks in financial markets a must, says RBI deputy governor T Rabi Sankar

Financial benchmarks, used as references for pricing, valuation and settlement of financial instruments, are a key driver of the price integrity of financial markets

RBI deputy governor bats for internationalisation of Rupee, says risks unavoidable

Sankar said India needs to calibrate its moves to the evolving size of our economy, particularly the size of the external sector and to the country's appetite for risk in framing policy for external trade and capital flows

The e₹ is on the way as RBI gears up for a pilot launch of its own digital currency

The RBI released a concept note with an aim to provide a high-level view of motivations for the introduction of CBDC in India.

India has got responses from up to five countries for rupee settlement mechanism, more interested: RBI deputy governor

T Rabi Sankar did not respond to a query on whether Russia was one of the countries that was interested in the mechanism

See no reason to extend tokenisation deadline as 35 crore tokens already created, says RBI Deputy Governor T Rabi Sankar

The deadline to implement tokenisation has been delayed multiple times over the past two years at the request of stakeholders, most recently by three months from 30 June 2022.

MC Explains | Why do firms prefer private placement of bonds over public issues

In FY22, the amount raised through public issuances of corporate bonds was just about two percent of the amount raised through private placements

Ecosystem largely prepared to implement tokenisation, says RBI Dy Governor T Rabi Sankar

The Deputy Governor said that the ecosystem is working on a few collateral issues that have come to RBI's notice, which will be adjusted as they proceed with the implementation.

India on cusp of fundamental shifts in direction of fuller capital account convertibility, says RBI Dy Governor

"Market participants, particularly banks, will have to prepare themselves to manage the business process changes and the global risks associated with capital convertibility," T Rabi Sankar said.

Explained | What is a central bank digital currency, what does RBI say? 8 key questions answered

Digital currencies are gain popularity and central banks across the world are under increased pressure to come up with their virtual coins. The RBI seems willing to take the plunge but how it will work out remains to be seen

RBI working on digital currency, pilot projects likely in near future: Deputy Governor T Rabi Sankar

T Rabi Sankar said developing a domestic CBDC could provide the public with uses that any private virtual currency (VC) offers and to that extent might retain public preference for the rupee.

T Rabi Sankar takes over as deputy governor, RBI reshuffles portfolios

Rabi Sankar, who was serving as an executive director, has been given important portfolios such as department of currency management.