India

Enforcement

India: Appeals Tribunal Reverses SEBI Licence Cancellation Order

By Editors | 11/06/2023

The Securities Appellate Tribunal said SEBI’s order to cancel the licence of Brickwork Ratings was “unjustified” and “not commensurate” with the alleged violations.

Crypto / Digital Assets

RBI to Make CBDC QR Codes Interoperable With UPI System

By Editors | 09/06/2023

The RBI issued the e-rupee as a pilot project late last year. Deputy governor T Rabi Sankar 1 million customers will be active on the CBDC by end-of-month.

Capital / Liquidity

RBI Allows Banks More Flexibility to Participate in Interbank Market

By Mark Johnston | 09/06/2023

Banks can set their own limits for borrowing in the call and notice money markets, provided they meet existing prudential limits for inter-bank liabilities.

Capital / Liquidity

RBI Issues New Rules on Guarantee Arrangements in Digital Lending

By Mark Johnston | 09/06/2023

Loan service providers such as fintechs are allowed to provide default cover up to five percent of the loan portfolio.

Capital / Liquidity

RBI Issues New Framework for Compromise Settlements and Loan Write-offs

By Sanday Chongo Kabange | 08/06/2023

The framework aims to provide further impetus to stressed asset resolutions and establish harmonised standards across lenders.

Market Infrastructure

RBI Unveils Plans to Enhance Payment Systems

By Sanday Chongo Kabange | 08/06/2023

The RBI will allow Indian banks to issuance RuPay prepaid forex cards and expand the scope and reach of e-RUPI digital vouchers.

Capital / Liquidity

SEBI Issues New Framework for Client Funds Upstreaming

By Mark Johnston | 08/06/2023

Stock brokers will have to upstream all client funds to clearing corporations by the end of each day.

Securities / Derivatives

RBI Permit Banks to Offer Non-deliverable FX Derivatives to Resident Indians

By Editors | 08/06/2023

HSBC India executed its first non-deliverable FX derivative transaction with Reliance Industries just a day after the RBI’s policy change.

Securities / Derivatives

SEBI Orders Stockbrokers to Direct More Trades to RFQ Platforms

By Sanday Chongo Kabange | 06/06/2023

From 1 July, stockbrokers will have to channel at least 10% of their proprietary corporate bond trades by value through RFQ platforms.