RBI Update - Reserve Bank of India (Financial Benchmark Administrators) Directions, 2023

These Directions shall be called the Reserve Bank of India (Financial Benchmark Administrators) Directions, 2023 ‘Financial Benchmark Administrator’ (FBA) means a person who controls the creation, operation and administration of benchmark(s).

Eligibility criteria for FBAs

An FBA shall be a company incorporated in India.

An FBA administering a ‘significant benchmark’ shall maintain a minimum net-worth of ₹5 crore at all times. An FBA administering a ‘non-significant benchmark’ shall maintain a minimum net-worth of ₹1 crore at all times.

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