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India
KYC & CDD
RBI Defers Effective Date of Paytm Payments Bank Restrictions
By Editors | 18/02/2024
The deferral is to allow customers more time to make alternative arrangements. RBI also released FAQs to clarify the impacts of the restrictions.
Structural Regulation
SEBI Proposes Registration Requirement for PMS Distributors
By Ajoy K Das | 16/02/2024
The proposal is in line with the mutual fund industry where distributors are required to be registered with AMFI.
Payments & Settlements
India, Nepal Ink Pact to Integrate Fast Payments Systems
By Ajoy K Das | 16/02/2024
The RBI has agreed to interlink the UPI with its counterpart in Nepal to enable instant and lower cost cross-border remittances.
Structural Regulation
Asset Managers Moving India Funds to GIFT City – Report
By Ajoy K Das | 14/02/2024
Eight of the ten largest Indian asset managers have either relocated or are planning to relocate to GIFT City.
Fraud, Scams & Cybercrime
India Arrests Three in Raids Against Cybercrime Syndicate
By Ajoy K Das | 14/02/2024
This is the first case where India’s Enforcement Directorate has used a complaint lodged overseas to register a PMLA case and seize proceeds of crime.
Market Abuse
SEBI Bars TV Guests, Analysts from Securities Market
By Ajoy K Das | 13/02/2024
11 individuals and 4 entities made unlawful gains of $900,000 from trading in stock they were recommending in TV broadcasts.
Trading & Investment
RBI Allows Banks at GIFT City to Trade on Bullion Exchange
By Ajoy K Das | 13/02/2024
Branches of domestic banks in GIFT City can be trading members of IIBX but not for proprietary trades.
Credit Risk
India: RBI Deputy Governor Urges NBFCs to Monitor P2P Lending
By Ajoy K Das | 13/02/2024
Deputy Governor M Rajeshwar Rao cautioned that shady business practices and breach of licensing conditions in P2P lending in NBFCs were not acceptable.
Payments & Settlements
India Launches UPI Services in Sri Lanka and Mauritius
By Ajoy K Das | 13/02/2024
Mauritius is the first country outside Asia where banks will be able to issue RuPay cards, and the first African country to connect to the UPI.
Conduct, Culture & Accountability
RBI Increases Cap on Remuneration of Bank Executives
By Ajoy K Das | 13/02/2024
The higher cap applies to all private sector banks, including small finance banks, payment banks, and wholly-owned subsidiaries of foreign banks.
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