INDIA

Capital / Liquidity

UPDATED – RBI Seizes Control of Troubled Lender Yes Bank

By Editors | 06/03/2020

The RBI says it had “no alternative” to protect the interests of the public and depositors, given the absence of a credible revival plan. A draft plan for Yes Bank’s reconstruction is open for comment.

Crypto / Digital Assets

Supreme Court Overturns RBI Circular Barring Banks from Crypto Dealings

By Editors | 04/03/2020

The ruling is hailed as a big win for the crypto sector. But, the government  has yet to act on an interministerial committee’s recommendations to ban all private cryptocurrencies.

SEBI Lowers Net Worth Requirement for Gift City Investment Advisers

By Editors | 03/03/2020

The net worth requirement has been lowered to $700,000 from $1.5mn previously following feedback on SEBI’s January guidelines for Gift City investment advisers.

Securities / Derivatives

Entities Allowed to Operate in Gift City Without Forming New Company

By Editors | 28/02/2020

According to SEBI, entities can offer financial services in Gift City in connection with the securities market without forming a separate company.

SEBI to Allow Investors Direct Access to Mutual Funds via Stock Exchanges

By Editors | 28/02/2020

The change would allow investors to bypass distributors, investments advisers and other intermediaries when purchasing and redeeming mutual fund units.

RBI Lifts Branch Opening Restrictions for Bandhan Bank

By Editors | 28/02/2020

The ban was imposed in September 2018 for the bank’s failure to reduce its promoter’s ownership below a 40% ceiling within three years of its commencement.

Capital / Liquidity

RBI Extends External Benchmarking to Medium Enterprise Loans

By Editors | 27/02/2020

From 1 April, loans to medium enterprises must be linked to external interest rate benchmarks, expanding on a policy that took effect in October for retail and micro/small enterprise loans.

Securities / Derivatives

SEBI Imposes New Margin Collection Norms on Brokers

By Editors | 27/02/2020

From 1 June, collateral accepted by brokers for margin purposes must be held in a separate demat account created in the depository system, tagged as ‘Client Securities Margin Pledge Account’.

Securities / Derivatives

SEBI Amends Margin Framework for Cash, Derivatives Segments

By Editors | 25/02/2020

Margin requirements will be lower for positions that are hedged against each other, making some options strategies more feasible for traders.