INDIA

Market Infrastructure

RBI Reduces Market Hours to Curb Volatility

By Editors | 06/04/2020

During India’s lockdown, currency, bond and money markets will operate for only 4 hours. SEBI has also brought forward the cut-off times for the mutual fund industry.

RBI Grants Exemptions to Small Finance Banks

By Editors | 02/04/2020

Existing small finance banks will not need prior RBI approval to undertake non-risk sharing simple financial service activities or open banking outlets in unbanked rural centres.

Securities / Derivatives

India Further Opens Bond Market to Non-resident Investors

By Editors | 02/04/2020

The RBI has fully opened certain categories of government securities to non-resident investors and raised the FPI limit for investment in corporate bonds.

Market Infrastructure

SEBI Asks Rating Agencies to Delay Default Recognition

By Editors | 31/03/2020

Market participants call SEBI’s move timely, amid fears of mass downgrades in light of the operational disruptions caused by Covid-19.

Securities / Derivatives

SEBI Extends Implementation Timelines on Key Market Reforms

By Editors | 31/03/2020

The new stewardship code for mutual funds is deferred three months. Portfolio managers, AIFs, and VC funds have two more months to comply with new disclosure requirements.

Market Infrastructure

India: State Bank Merger Plan Takes Effect on 1 April

By Editors | 31/03/2020

A plan to merge ten state-run banks into four takes effect from 1 April, in a move that will help consolidate their national presence and extend their global reach.

Capital / Liquidity

RBI Announces Broad Measures to Address Covid-19 Financial Stress

By Editors | 28/03/2020

The measures include a 3 month moratorium on term loans, deferred interest on working capital loans, $50bn of liquidity measures, and 6-month delays for NSFR, CCB and LEI implementation.

Capital / Liquidity

Indian Banks Directed to Extend Emergency Credit to SMEs

By Editors | 26/03/2020

The government has also asked the RBI to consider implementing a months-long moratorium on the debt repayments and to relax NPA classification norms.

Securities / Derivatives

SEBI Grants Compliance Relief to Fund Managers, Brokers, Issuers

By Editors | 24/03/2020

The new measures include relief from mutual fund policy initiatives, penalty provision exemptions for brokers, and various deadline extensions.