India

AML / KYC

India Tightens Rules on SIM Card Registration to Combat Fraud

By Editors | 22/08/2023

India’s one million SIM card dealers will have to undergo a mandatory verification and registration process within one year.

RBI Unveils New Penal Charges Regime to Promote Fair Lending

By Sanday Chongo Kabange | 21/08/2023

The RBI said penal charges in loan accounts should be used to promote credit discipline and not as a “revenue enhancement tool”.

Capital / Liquidity

RBI Launches Digital Portal for Unclaimed Deposit Recovery

By Ranamita Chakraborty | 21/08/2023

Users can utilise the portal to locate their unclaimed deposits and subsequently choose to either claim the funds or reactivate their deposit accounts with their respective banks.

India Tightens Guidelines for Financial Influencers

By Editors | 17/08/2023

Financial influencers have to be registered with SEBI and prominently display their registration number to offer investment-related advice.

Securities / Derivatives

SEBI Seeks Feedback on Revised Delisting Norms

By Mark Johnston | 15/08/2023

SEBI issued a consultation paper seeking public comments on reviewing the current delisting norms for listed companies.

Fintech / Regtech

India Contemplates New Law to Regulate Big Tech

By Sanday Chongo Kabange | 15/08/2023

An MCA-led committee led will this month complete the first draft report on the need for ex-ante regulation for big tech firms via a new law.

Capital / Liquidity

RBI To Introduce Public Tech Platform for Credit Data

By Ranamita Chakraborty | 15/08/2023

Following the pilot, the Indian central bank will expand the platform’s scope and coverage to include more products, information providers and lenders.

Securities / Derivatives

SEBI Reduces Investor Exit Window for AMC Change in Control

By Editors | 14/08/2023

The exit option window period is reduced from 30 to 15 calendar days after a change in control of the AMC is announced.

Fintech / Regtech

RBI Awards AI-based SupTech Contract to McKinsey, Accenture

By Editors | 14/08/2023

The RBI invited expressions of interest last September. The $10mn contract has now been awarded to McKinsey and Accenture.