INDIA

Market Infrastructure

RBI Updates Oversight Framework for FMIs, Retail Payment Systems

By Editors | 14/06/2020

The framework details the oversight objectives, supervisory processes and assessment methodology the RBI will apply to financial market infrastructures and retail payment systems.

Securities / Derivatives

SEBI Relaxes Norms to Fast-track Further Public Offers

By Editors | 11/06/2020

FPOs will still be allowed to proceed if show cause notices or prosecution proceedings are still ongoing, or it securities law violations have been recently settled.

Securities / Derivatives

Indian Court Halts Franklin Templeton Fund Liquidation

By Editors | 10/06/2020

Franklin Templeton had planned to allow unitholders to vote on whether to allow six shuttered funds to be liquidated, but the Court says it must first release a forensic audit report on the funds in question.

Capital / Liquidity

RBI Proposes New Norms for Loan Sales and Securitisations

By Editors | 09/06/2020

The draft frameworks will make it easier for banks and other lenders to remove loans from their books amid increasing asset quality and liquidity pressures.

Fintech / Regtech

SEBI Launches Regulatory Sandbox for Capital Market Participants

By Editors | 08/06/2020

Regulated entities will be granted facilities and flexibilities to experiment with fintech solutions in a live environment, on a limited set of real customers, for a limited time frame.

Fintech / Regtech

RBI Creates $66mn Fund to Boost E-Payments Infrastructure

By Editors | 07/06/2020

The RBI will initially contribute half of the funding; the rest will come from card-issuing banks and card networks, who will also cover operational expenses.

Enforcement

SEBI Orders Special Audit of Shuttered Franklin Templeton Funds

By Editors | 03/06/2020

A forensic audit firm has reportedly been tasked with determining whether Franklin Templeton colluded with bond issuers and if conflicts of interest were present at the firm.

Securities / Derivatives

SEBI Panel Proposes Creation of ‘Social Stock Exchanges’

By Editors | 02/06/2020

Non-profit organisations should be allowed to directly list bonds on social stock exchanges housed within existing exchanges such as the BSE or NSE, the SEBI panel suggests.

Enforcement

RBI Fines Citibank, Six Others for Non-Compliance

By Editors | 01/06/2020

Citibank did not comply with obligations to obtain declarations from customers about the credit facilities they have with other banks before granting them non-fund based facilities.