AGP Executive Report
Last update: 29 minutes agoRBI Fraud Rules: The Reserve Bank of India has tightened protections for digital fraud victims, offering 85% reimbursement (up to ₹25,000) for losses up to ₹50,000 from Jan 1, 2027, with banks required to reverse credit-card scam amounts within five days, send instant SMS alerts for transactions above ₹500, and resolve domestic fraud complaints in 45 days (cross-border in 60). RBI AI Governance: RBI also issued draft model-risk guidance for banks and NBFCs, pushing board-approved AI/ML risk frameworks, independent checks, human oversight for key decisions, stronger cybersecurity, and “kill-switch” style controls for high-risk models. Market & Commodities: Gold slid under $4,000/oz, ending a three-year rally after a sharp drop, while crypto ETFs saw nearly $200m in combined BTC/ETH outflows amid cautious sentiment. Banking Sector Moves: Bangladesh Bank reported Tk 75,903 crore in emergency liquidity support to banks as of June 6, and Kyrgyzstan’s state banks cut ties with 130+ companies over sanctions and suspicious-transaction risks. Industry & Deals: StoneX launched a Financial Institutions Group research practice for regional and community banks, and Revolut moved closer to NZ full banking with a business platform launch alongside its licence application.
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