India

Securities / Derivatives

Asset Managers Moving India Funds to GIFT City – Report

By Ajoy K Das | 14/02/2024

Eight of the ten largest Indian asset managers have either relocated or are planning to relocate to GIFT City.

Enforcement

India Arrests Three in Raids Against Cybercrime Syndicate

By Ajoy K Das | 14/02/2024

This is the first case where India’s Enforcement Directorate has used a complaint lodged overseas to register a PMLA case and seize proceeds of crime.

Securities / Derivatives

SEBI Bars TV Guests, Analysts from Securities Market

By Ajoy K Das | 13/02/2024

11 individuals and 4 entities made unlawful gains of $900,000 from trading in stock they were recommending in TV broadcasts.

Securities / Derivatives

RBI Allows Banks at GIFT City to Trade on Bullion Exchange

By Ajoy K Das | 13/02/2024

Branches of domestic banks in GIFT City can be trading members of IIBX but not for proprietary trades.

Securities / Derivatives

India: RBI Deputy Governor Urges NBFCs to Monitor P2P Lending

By Ajoy K Das | 13/02/2024

Deputy Governor M Rajeshwar Rao cautioned that shady business practices and breach of licensing conditions in P2P lending in NBFCs were not acceptable.

Fintech / Regtech

India Launches UPI Services in Sri Lanka and Mauritius

By Ajoy K Das | 13/02/2024

Mauritius is the first country outside Asia where banks will be able to issue RuPay cards, and the first African country to connect to the UPI.

RBI Increases Cap on Remuneration of Bank Executives

By Ajoy K Das | 13/02/2024

The higher cap applies to all private sector banks, including small finance banks, payment banks, and wholly-owned subsidiaries of foreign banks.

Crypto / Digital Assets

RBI to Enable CBDC Programmability, Offline Functionality

By Ajoy K Das | 10/02/2024

RBI statement also said it will introduce a new principle-based framework for the authentication of digital payment transactions.

Fintech / Regtech

India: Industry Body to Publish Whitelist of Digital Lenders

By Ajoy K Das | 09/02/2024

The Digital Lenders’ Association of India said borrowers will be able to use the list to protect themselves against scammers and fake apps.