INDIA

Capital / Liquidity

SEBI Tightens NPA Disclosure Requirements for Listed Banks

By Editors | 21/07/2019

Listed banks will have to make disclosures if the additional provisioning for NPAs assessed by RBI exceeds 10% of reported profit, compared to 15% previously.

Capital / Liquidity

Allahabad Bank Reports $258mn Fraud by Indian Steelmaker

By Editors | 17/07/2019

Following a similar report from Punjab National Bank earlier this month, Allahabad Bank has reported a $258mn fraud at Bhushan Power & Steel.

Crypto / Digital Assets

Leaked Draft Shows India’s Zero-Tolerance for Cryptocurrency

By Editors | 17/07/2019

The leaked draft bill being circulated, though unauthenticated, specifies up to 10 years’ jail for buying, selling or storing cryptocurrency in India.

Market Infrastructure

RBI Proposes to Extend Trading Hours for Forex, Money Market

By Editors | 11/07/2019

An RBI working group has proposed extending onshore FX trading from 5pm to 9pm, in a bid to recapture liquidity lost to offshore markets in recent years.

Enforcement

Punjab National Bank Detects $550mn Fraud by Indian Steelmaker

By Editors | 09/07/2019

Punjab National Bank says Bhushan Power & Steel misappropriated bank funds and manipulated its books to raise funds from lenders.

Securities / Derivatives

India Proposes Additional GIFT City Tax Incentives

By Editors | 08/07/2019

Existing tax incentives have been extended to 10 years from 5 years. New exemptions for dividend distribution tax and alternate investment funds also proposed.

Capital / Liquidity

India’s 2019 Budget Grants Lifeline to State Banks, NBFCs

By Editors | 08/07/2019

The government announced a fresh capital infusion for state banks, credit guarantees on NBFC assets, and stronger supervisory powers for the RBI.

Capital / Liquidity

Australia, India Compliant with NSFR, Large Exposures Framework

By Editors | 05/07/2019

The BCBS has assessed the implementation of the NSFR and large exposures framework in Australia and India to be ‘compliant’ with its standards.

Market Infrastructure

RBI to Review Framework for Core Investment Firms

By Editors | 04/07/2019

Concerned that oversight of increasingly complex core investment firms is now inadequate, the RBI has set up a working group to review its framework.