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Informist, Friday, Sept. 19, 2025

 

--RBI Malhotra: Banks need to on-board customers on FX retail platform 

--CONTEXT: RBI Malhotra speaking at an event organised by CCIL in Mumbai 

--RBI Malhotra: Necessary for CCIL to review, optimise risk processes 

--RBI Malhotra: CCIL needs to provide world-class risk management 

--RBI Malhotra: CCIL could explore currency trading platform beyond dlr/rupe

 

MUMBAI – Clearing Corp. of India Ltd. could explore trading platform for currency pairs other than dollar/rupee, Reserve Bank of India Governor Sanjay Malhotra said at an event in Mumbai on Friday. "CCIL must keep abreast with its offerings and products. For example, given the broader objective of internationalisation of INR, CCIL could explore the possibility of putting in place necessary infrastructure to facilitate trading and settlement services for currency pairs beyond the USD/INR," Malhotra said. 

 

CCIL should also anticipate market demand and put in place the necessary infrastructure for a larger suite of products, the governor said. "It would be important for CCIL to continuously explore and enhance its product and service offerings on the forex retail and the RBI retail direct ensuring a seamless customer experience and robust system capabilities," he said.

 

With emerging technologies increasing demand for risk management and cost efficiencies, it will be necessary for CCIL to review and continuously optimise and rationalise its risk processes. "...one needs to continuously review, improve, improvise and further make innovations other area that has seen a lot of innovation over the years but needs much more," Malhotra said. These are developments from which CCIL cannot remain immune, he said. 

 

CCIL will have to keep pushing at the frontiers of technology, be ahead of others, provide world-class experience, facilities, and risk management, and improve upon the trust it has earned for itself, the governor said. 

 

Talking about trade repository services, the governor said these too need to be further strengthened by leveraging the latest technologies to automate processes for trade reporting, validation, anomaly protection, and compliance. This "...will not only facilitate ease of reporting but also improve the timeliness, accuracy and quality of information," Malhotra said.  End

 

Reported by Kabir Sharma and Vaishali Tyagi

Edited by Avishek Dutta

 

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