India

Anti-Money Laundering

Singapore Shell Companies Linked to Illicit Activity in India

By Nithya Subramanian | 06/03/2024

India’s Enforcement Directorate has uncovered a web of money laundering activities involving the use of shell companies from Singapore.

Payments & Settlements

BRICS Nations to Create Blockchain-based Payment System

By Editors | 05/03/2024

The move aimed at increasing the role of the BRICS in the international monetary system and reducing reliance on US dollars.

Payments & Settlements

RBI Approves Establishment of New Online Payments Platform

By Ajoy K Das | 04/03/2024

Bharat BillPay Limited will set up a platform that will enable payment aggregators to accept transactions from any bank without having to onboard each one separately.

Payments & Settlements

RBI Revises Rules for Bharat Bill Payment System

By Ajoy K Das | 04/03/2024

The Bharat Bill Pay Central Unit will play a bigger role in protecting consumers through rule- and standard-setting and by guaranteeing settlement of BBPS transactions.

Structural Regulation

SEBI Proposes Relaxed Disclosure Rules for Certain FPIs

By Ajoy K Das | 02/03/2024

Category I FPIs that are university funds or university-related endowments would be exempt from enhanced disclosure requirements.

Trading & Investment

India Establishes Expert Committee to Develop GIFT City Markets

By Ajoy K Das | 01/03/2024

The committee will help to develop rules to enable direct listings of Indian companies at GIFT City stock exchanges.

Cryptocurrency

NYDFS Secures Return of $1.1bn to ‘Gemini Earn’ Investors

By Editors | 01/03/2024

Gemini Trust has committed to returning at least $1.1bn to customers who invested in its ‘Earn’ crypto lending programme.

Climate Risk

RBI Issues Draft Disclosure Framework for Climate Risk

By Ajoy K Das | 01/03/2024

Disclosures on governance, strategy and risk management will start from fiscal 2026, and on metrics and targets from fiscal 2028.

Supervision & Enforcement

RBI Consolidates Reg Reporting Instructions Into Single Document

By Ajoy K Das | 29/02/2024

The consolidation exercise was aimed at creating a single reference for all supervisory returns and harmonising the timelines for return submissions.