INDIA

Crypto / Digital Assets

India: Crypto Exchanges Call on NPCI to Restore UPI Services

By Mark Johnston | 22/06/2022

Since April, Indian crypto exchanges have not been able to accept deposits via the UPI. BACC members are asking for a reversal of the decision.

Fintech / Regtech

NPCI, Lyra Network Sign MOU to Allow UPI Payments in France

By Editors | 22/06/2022

The MOU will allow Indians to make payments in France using UPI and Rupay cards at terminals and ATMs provided by Lyra Networks.

Market Infrastructure

India Designates IT Resources of ICICI, HDFC, NPCI “Protected Systems”

By Editors | 21/06/2022

Unauthorised persons securing or attempting to secure access to protected systems can be jailed for up to ten years and liable for a fine.

Securities / Derivatives

SEBI Allows Mutual Funds to Resume Overseas Investing

By Editors | 21/06/2022

In February, SEBI advised mutual funds to halt further investments in foreign stocks to avoid breaching industry-wide regulatory limits.

Enforcement

RBI Releases Mastercard from Restrictions Imposed Last Year

By Editors | 20/06/2022

Mastercard was barred from onboarding new domestic customers in July last year due to noncompliance with India’s data storage rules.

Securities / Derivatives

RBI Consults on Initial Margin Rules for Uncleared OTC Derivatives

By Manesh Samtani | 20/06/2022

VM rules were proposed in 2020 and will now take effect from 1 December 2022. IM rules are open for comment until 29 July 2022.

Capital / Liquidity

RBI Doubles Lending Limits for Cooperative Banks

By Editors | 19/06/2022

The higher lending caps are intended to account for rising housing prices and customer needs, the RBI said.

Securities / Derivatives

SEBI Enhances Cybersecurity Requirements for Asset Managers

By Editors | 19/06/2022

A new framework that took effect on 15 July requires AMCs to conduct cyber audits twice a year and report incidents within six hours of detection.

Fintech / Regtech

RBI to Allow Credit Cards to Link to UPI System

By Editors | 14/06/2022

Allowing credit cards to link with the UPI will provide consumers more payment options and greater convenience, the RBI said.