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Capital / Liquidity
Global Banks’ India Business Impacted by Large Exposures Rules
By Editors | 13/09/2019
Foreign banks have to maintain sufficient capital in their India entities to increase their exposure to the country, rather than relying on guarantees from their overseas headquarters.
Securities / Derivatives
RBI Panel Offers Path to Develop Home Loan Securitisation Market
By Editors | 10/09/2019
A new intermediary should be created to standardise the underlying mortgage loans, underwriting guidelines and loan servicing standards, the panel says.
Enforcement
Tribunal Overturns SEBI Order Banning PwC from Auditing
By Editors | 10/09/2019
The Securities Appellate Tribunal cited a lack of evidence against PwC, and said SEBI had no jurisdiction to impose the ban in the first place.
RBI Mandates External Benchmarking for Loans from October
By Editors | 09/09/2019
Banks must link interest rates for retail and micro and small enterprise loans to the RBI’s benchmark repo rate, the 3- or 6-month treasury yield, or any other FIBIL benchmark.
Securities / Derivatives
RBI Task Force Urges Development of Secondary Market for Loans
By Editors | 05/09/2019
The task force recommends easing rules for loan asset securitisation, and to allow secondary market participation from funds and insurers.
Fintech / Regtech
India Government Panel Pushes for Fintech, Regtech Adoption
By Editors | 04/09/2019
The panel has also proposed the development of a marketplace model for P2P lending, and the introduction of virtual banking in India.
AML / KYC
RBI Grants Another Extension for e-Wallet KYC Compliance
By Editors | 03/09/2019
This is the fourth time the deadline has been extended. Wallet companies were first asked to complete KYC processes for each customer by December 2017.
Capital / Liquidity
India to Merge 10 State Owned Banks into Four
By Editors | 03/09/2019
“In place of fragmented lending capacity with 27 public sector banks in 2017, now there will be only 12 state-run banks post consolidation,” said India’s finance minister Nirmala Sitharaman.
Market Infrastructure
Indian Banks Taking Nearly Two Years to Detect Fraud: RBI
By Editors | 02/09/2019
The RBI said in its annual report that banks take an average of 22 months to detect fraud, and up to 55 months for frauds involving large amounts.
Securities / Derivatives
SEBI Extends Deadline for New Rules on Handling Client Securities
By Editors | 30/08/2019
Following feedback from stock exchanges and market participants, SEBI has decided to extend the effective dates in a June circular by one month.
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