India

Securities / Derivatives

SEBI to Allow Lower Face Value of Privately-placed Debt Securities

By Manesh Samtani | 30/04/2024

The lower face value will be optional for issuers of privately-placed non-convertible debentures and non-convertible redeemable preference shares.

Fintech / Regtech

ICICI Bank Expresses Regret for Exposing Credit Card Data

By Ajoy K Das | 30/04/2024

A glitch caused 17,000 credit cards to be erroneously mapped to the wrong users, who were able to see all the card details in the bank’s mobile app.

Securities / Derivatives

SEBI Directs BSE to Remediate Erroneous Fee Calculations

By Ajoy K Das | 30/04/2024

BSE has to pay almost $20mn for to make up for years of incorrect calculations of its annual options trading turnover.

Securities / Derivatives

RBI Allows SFBs to Hedge with Interest Rate Derivatives

By Ajoy K Das | 30/04/2024

Until now, small finance banks have only been permitted to use interest rate futures for hedging.

Capital / Liquidity

RBI Sets Guidelines for SFBs to Transition into Universal Banks

By Ajoy K Das | 30/04/2024

Small finance banks can apply to transition into universal banks, subject to them meeting certain conditions.

Fintech / Regtech

RBI Issues Draft Guidelines for Loan Aggregation Services

By Ajoy K Das | 29/04/2024

The RBI said borrowers may not know the identity of potential lenders when using loan aggregation services.

AML / KYC

Message Encryption In Focus for Indian, European Authorities

By Editors | 29/04/2024

WhatsApp will leave India if it is required to break encryption. Europol expresses concern with message encryption on Messenger.

Securities / Derivatives

India Amends FX Rules to Facilitate Direct Listings in GIFT City

By Ajoy K Das | 29/04/2024

The regulations make clear that firms raising funds through direct GIFT City listings can hold the proceeds in foreign currency accounts outside India.

Securities / Derivatives

India: Small- and Mid-Cap Stocks Making Regulators Nervous

By Pankaj Sharma | 29/04/2024

Pankaj Sharma says SEBI’s approach to small- and mid-cap funds has been prudent, but that it should look to more closely align with international standards.