INDIA

Securities / Derivatives

NSE, BSE Harmonise Industry Classification Structure for Listed Firms

By Editors | 26/03/2022

The India Industry Classification will come into effect from 31 March, harmonising industry classifications of companies listed and traded on NSE and BSE.

Securities / Derivatives

India Suspends Plan to Allow Direct Overseas Listings

By Editors | 25/03/2022

Domestic companies can only list overseas after first listing in India. Rule changes that would have allowed direct overseas listings have reportedly been suspended.

Securities / Derivatives

SEBI Eases Norms on Mutual Fund Transactions by Investors

By Editors | 23/03/2022

Norms prohibiting the use of one-time mandates to accept payments for mutual fund transactions have been eased.

RBI Issues New Guidelines on the Provision of Microfinance Loans

By Ranamita Chakraborty | 23/03/2022

The RBI is lifting the interest rate ceiling on microfinance loans, but says it will continue to check that lenders do not charge “usurious” rates.

AML / KYC

GLEIF Welcomes LEI System’s First India Validation Agent

By Editors | 22/03/2022

Rubix Data Sciences has become the first India-based Validation Agent within the Global LEI System, and the sixth globally.

Fintech / Regtech

India, China to Enable Cross-Border Payments With Arab World

By Editors | 21/03/2022

India’s NPCI and China’s UnionPay have signed agreements to establish interoperability with Buna, a payment system owned by the Arab Monetary Fund.

AML / KYC

RBI Orders Paytm Payments Bank to Stop Onboarding Clients

By Editors | 19/03/2022

The bank reportedly violated rules by allowing data to flow to servers overseas and did not properly verify thousands of customers.

Market Infrastructure

SGX Selects Tata Consultancy Services to Power GIFT Connect

By Editors | 17/03/2022

The GIFT Connect system will permit SGX members to place orders on NSE IFSC using FIX/proprietary APIs or the TCS BaNCS dealing terminal.

Enforcement

RBI Lifts Restrictions on Digital Product Launches at HDFC

By Editors | 16/03/2022

The restrictions were imposed in 2020 in response to multiple digital outages that impacted customers. HDFC is India’s largest private bank.