INDIA

AML / KYC

Regulatory Pressure on Binance Builds With Malaysia Ban

By Manesh Samtani | 01/08/2021

Malaysia’s SC has announced enforcement actions. Binance is winding down its derivatives business in Europe. India is probing its involvement in a betting probe.

Market Infrastructure

RBI Opens RTGS, NEFT to Non-bank Payment System Providers

By Editors | 29/07/2021

Prepaid payment instruments, white label ATM operators and card networks can now connect to the RTGS and NEFT systems.

Securities / Derivatives

SEBI Requires Segregation, Monitoring of Client Collateral

By Editors | 27/07/2021

The framework seeks to address previous instances of brokers defaulting and misusing clients’ securities and funds.

Fintech / Regtech

RBI Working Towards Phased Implementation of CBDC

By Sanday Chongo Kabange | 25/07/2021

Like other central banks, the RBI has been exploring a CBDC and is now examining use cases which could be implemented with little or no disruption.

Capital / Liquidity

Indian Banks Set to Apply for ‘Bad Bank’ Operating Licence

By Ranamita Chakraborty | 21/07/2021

The bad bank will be 51% owned by public sector banks. The remaining shares will be owned by private sector lenders.

Market Infrastructure

Axis Bank Announces First Derivative Transaction Linked to SOFR

By Ranamita Chakraborty | 17/07/2021

SOFR is expected to be the most widely accepted benchmark rate used to replace LIBOR and MIFOR in India.

RBI Grants In-principle Approval for PMC Bank Takeover

By Sanday Chongo Kabange | 16/07/2021

The RBI has given Centrum Financial Services in-principle approval to set up a small finance bank to take over PMC Bank.

Capital / Liquidity

RBI Proposes Changes to UCB Fundraising Norms

By Ranamita Chakraborty | 15/07/2021

Primary UCBs can issue equity shares, perpetual or redeemable preference shares, perpetual debt instruments, and long-term subordinated bonds.

Enforcement

RBI Imposes Restrictions on Mastercard Over Data Storage

By Editors | 15/07/2021

The action may hamper the ability of private banks to issue new cards to customers in the near term due to their exclusive tie-ups with Mastercard.