Fintech Brief — March 28, 2026

Today’s Top Stories

1. RBI Issues Counterparty Credit Risk Amendments for Banks

The Reserve Bank of India (RBI) issued a circular in March 2026 amendments to the framework for Counterparty Credit Risk (CCR), specifically focusing on the calculation of Potential Future Exposure (PFE). The circular clarifies requirements for banks acting as clearing members of SEBI-recognized stock exchanges in equity and commodity derivatives segments, mandating capital charges for CCR. It also aligns add-on factors for PFE calculation with international Basel Committee guidelines, aiming to enhance clarity and consistency in risk management across India’s banking sector. The amendment applies to various banking and financial institutions and emphasizes improved regulatory guidance on CCR and capital adequacy norms.¹

2. Revolut to Base 40% of Global Workforce in India by 2026

European fintech giant Revolut announced plans to have approximately 40% of its global workforce based in India by the end of 2026, marking a significant expansion of its India global capability centre. The company will fill 1,600 roles through 2026, taking its India headcount to 5,500 employees out of a global workforce of 12,000. Revolut committed £500 million (US$669.8 million) to its India business and GCC over five years in 2025. India CEO Paroma Chatterjee noted that about a third of Revolut’s processes are now run from India, including routine transaction monitoring and AI-based alerts. Innovations developed in India, such as video-based KYC systems, are being deployed across global markets to improve onboarding efficiency.²³

3. Foreign Investors Pull Record $12 Billion from Indian Stocks

Foreign investors are on track to withdraw a record $12 billion from Indian equities in March 2026, driven by the Iran war disrupting oil and gas supplies and stoking fears of an economic growth slowdown. With just two trading days left in the month, this could surpass the previous record of 940 billion rupees in October 2024. India is one of the most vulnerable countries to higher oil prices as its net oil imports amount to 3.5% of GDP. Analysts project that increased energy bills and slowdown in remittances from the Middle East will widen India’s current account and fiscal deficits. Capital outflows are expected to intensify due to global risk-off sentiment and concerns over India’s economic growth.⁴

4. Swish Raises $38M in Third Funding Round in 18 Months

Bengaluru-based food delivery startup Swish raised $38 million in a new funding round, marking its third round in 18 months. Founded in 2024, Swish operates a full-stack business model, owning its kitchens, supply chain, and delivery network, focusing on dense hyperlocal clusters with delivery radii of around 1 kilometre. The company has focused on automating kitchen operations to support faster delivery and consistency. The fresh food delivery market remains competitive with players like Blinkit, Swiggy Instamart, and Zepto competing for market share in the quick commerce segment.⁵

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