India

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.

AML / KYC

SEBI Streamlines KYC Process for Securities Market Onboarding

By Editors | 14/08/2023

SEBI directs KRAs to verify client information so that they gain portability, and clients to skip repetitive KYC steps with different intermediaries.

AML / KYC

SEBI Tightens Disclosure Requirements for FPIs

By Editors | 14/08/2023

FPIs are required to provide information on persons with ownership, economic interest or control in an FPI.

Fintech / Regtech

RBI Announces Planned Upgrades to UPI System

By Editors | 13/08/2023

One new feature will enable users to initiate UPI transactions by conversing with an AI-powered system. Japan is exploring a potential UPI linkage.

Capital / Liquidity

SEBI Proposes Reviewing Borrowing Framework for Large Corporates

By Ranamita Chakraborty | 11/08/2023

The Indian capital markets regulator has suggested increasing the minimum threshold for large corporates to at least INR 5 billion for outstanding long-term borrowings.

Fintech / Regtech

Indian Lawmakers Pass New Data Protection Law

By Manesh Samtani | 11/08/2023

The law has raised concerns over the excessive powers granted to the government to access private data without consent.