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Fintech / Regtech
RBI Issues Draft Rules on Managing IT Outsourcing Risks
By Sanday Chongo Kabange | 28/06/2022
Regulated entities don’t require specific approvals to outsource IT services, but appropriate policies and a risk management framework must be in place.
Capital / Liquidity
RBI to Require Banks to Use ECL Approach in Provisioning
By Editors | 28/06/2022
Banks were initially due to use the ECL approach to estimate and provision for credit losses from 1 April 2018, but the RBI had deferred implementation.
Securities / Derivatives
SEBI Reviews Plans to Allow FPI Access to Commodity Derivatives
By Editors | 26/06/2022
SEBI asked large market participants to recommend risk management measures needed to allow FPI participation in exchange-traded commodity derivatives.
RBI Gets Recommendations on Streamlining Regulatory Requirements
By Editors | 25/06/2022
The RBI’s Regulations Review Authority has also recommended the total elimination of paper-based returns.
Fintech / Regtech
RBI 2025 Vision Targets Growth in Digital Payments
By Mark Johnston | 23/06/2022
The vision document outlines plans to introduce a framework for regulating all “significant intermediaries” in the payments ecosystem, as well as regulations for bigtech, fintechs and BNPL.
Crypto / Digital Assets
India: Crypto Exchanges Call on NPCI to Restore UPI Services
By Mark Johnston | 22/06/2022
Since April, Indian crypto exchanges have not been able to accept deposits via the UPI. BACC members are asking for a reversal of the decision.
Fintech / Regtech
NPCI, Lyra Network Sign MOU to Allow UPI Payments in France
By Editors | 22/06/2022
The MOU will allow Indians to make payments in France using UPI and Rupay cards at terminals and ATMs provided by Lyra Networks.
Market Infrastructure
India Designates IT Resources of ICICI, HDFC, NPCI “Protected Systems”
By Editors | 21/06/2022
Unauthorised persons securing or attempting to secure access to protected systems can be jailed for up to ten years and liable for a fine.
Securities / Derivatives
SEBI Allows Mutual Funds to Resume Overseas Investing
By Editors | 21/06/2022
In February, SEBI advised mutual funds to halt further investments in foreign stocks to avoid breaching industry-wide regulatory limits.
Enforcement
RBI Releases Mastercard from Restrictions Imposed Last Year
By Editors | 20/06/2022
Mastercard was barred from onboarding new domestic customers in July last year due to noncompliance with India’s data storage rules.
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