India

Capital / Liquidity

India: ISDA Requests Details on CCIL’s Proposed UMR Services

By Editors | 24/10/2022

ISDA has responded to CCIL proposals to create a margining and collateral service for non-centrally cleared OTC derivatives trades in India.

Fintech / Regtech

RBI Consults on New Master Directions on IT Governance

By Sanday Chongo Kabange | 23/10/2022

Regulated entities will have to obtain source code from vendors for critical applications or ensure a software escrow agreement is in place.

Capital / Liquidity

RBI Tightens Rules for Unhedged Foreign Currency Exposures

By Editors | 20/10/2022

The RBI tightened rules that require banks to factor borrowers’ unhedged foreign currency exposures into their credit-granting and loss-provisioning decisions.

Fintech / Regtech

India Launches Digital Banking Units to Advance Financial Inclusion

By Editors | 19/10/2022

The units were established by 24 banks to house digital infrastructure for the delivery of digital banking products and services in self-service and assisted mode.

Capital / Liquidity

RBI Tightens Rules on Disclosing NPA, Provisioning Divergences

By Editors | 18/10/2022

Norms that apply to commercial banks on disclosing NPA and provisioning divergences are being tightened, and extended to UCBs.

ESG / Sustainability

SEBI Sets Out Governance Requirements for Social Stock Exchanges

By Editors | 18/10/2022

A seven-member governing council must be constituted before SEBI will grant final approval for the launch of a social stock exchange.

Securities / Derivatives

RBI Directs Bank to Reduce Activity in Offshore Rupee Market

By Editors | 18/10/2022

The RBI started allowing local banks to participate in the NDF market in 2020, but their activity is adding further downward pressure on the rupee.

Fintech / Regtech

India Establishes Protocols for Interoperable Regulatory Sandbox

By Editors | 17/10/2022

The interoperable regulatory sandbox will enable firms to test innovative products and services that fall under multiple financial sector regulators.

Securities / Derivatives

SEBI Issues Framework for Dealing with CRA Licence Cancellations

By Editors | 17/10/2022

The new framework comes after SEBI for the first time cancelled the licence of a CRA, Brickwork Ratings India, and ordered it to wind down its operations within six months.