India

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    AML / KYC

    RBI Plans to Allow Banks Autonomy to Freeze Suspicious Accounts

    By Ajoy K Das | 29/04/2024

    The RBI plans to allow banks to suspend suspicious accounts without having to wait for a police complaint to be registered.

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    Capital / Liquidity

    Asia-Pacific’s Long March Towards the Basel Endgame

    By Blake Evans-Pritchard | 26/04/2024

    Those who think we’ve heard the last about the framework’s implementation should think again.

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    Capital / Liquidity

    RBI Raises Net Owned Funds Requirement for ARCs

    By Ajoy K Das | 25/04/2024

    Existing asset reconstruction companies will have until 31 March 2026 to meet the $36mn net owned funds requirement.

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    Securities / Derivatives

    SEBI to Allow Cross-Margining for Futures with Different Expiries

    By Ajoy K Das | 25/04/2024

    A spread margin of 40 percent will be applicable for offsetting positions in correlated indices with different expiry dates.

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    Enforcement

    RBI Imposes Business Restrictions on Kotak Mahindra Bank

    By Ajoy K Das | 25/04/2024

    The bank is prohibited from onboarding new customers and issuing fresh credit cards due to long-standing IT risk management deficiencies.

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    Enforcement

    Indian NBFC Detects Vehicle Loan Fraud Worth $18m

    By Ajoy K Das | 25/04/2024

    The fraud involved forgery of KYC documents related to retail vehicle loans, resulting in company funds being embezzled.

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    Market Infrastructure

    GIFT City IBUs Directed to Offer Internet Banking Within Six Months

    By Ajoy K Das | 25/04/2024

    IFSC Banking Units in GIFT City are asked to benchmark their internet banking services against top global banks in Singapore and Hong Kong.

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    Securities / Derivatives

    SEBI Finds Violations by Offshore Funds Invested in Adani Group

    By Ajoy K Das | 24/04/2024

    12 offshore funds violated disclosure rules and breached investment limits. Eight of these funds are trying to settle with SEBI.

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    Fintech / Regtech

    India Explores Measures to Address Duopoly in Mobile Payments Market

    By Ajoy K Das | 23/04/2024

    Google Pay and PhonePe together account for nearly 86% of UPI transactions by volume. Support and incentives are being considered for smaller players.

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    Securities / Derivatives

    SEBI Proposes Framework for Price Discovery of Investment Companies

    By Ajoy K Das | 22/04/2024

    A special call-auction may be enabled for listed investment companies and investment holding companies.

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