India

Payments & Settlements

India, Russia to Explore Cross-border Payment Linkages

By Editors | 02/05/2023

India agreed to explore the acceptance of Russian Mir cards, a link with Russia’s Faster Payments System, and adoption of Russia’s financial messaging system.

Liquidity Risk

US Regulators Conclude Reviews into SVB, Signature Failures

By Manesh Samtani | 01/05/2023

The Fed, FDIC and NYDFS say SVB and Signature Bank were mismanaged, but that regulatory and supervisory lapses also contributed to their failures.

Structural Regulation

SEBI Bans Brokers from Pledging Client Funds for Bank Guarantees

By Editors | 01/05/2023

Existing bank guarantees created from client funds must be wound down by 30 September, to prevent misuse of investors’ money.

Market Abuse

SEBI Imposes 7-Year Market Ban Against Karvy Stock Broking

By Editors | 29/04/2023

Karvy Stock Broking Limited was found to have misused clients’ assets in 2019, by pledging them as collateral to borrow funds from banks and NBFCs.

Structural Regulation

RBI Eases Restrictions on Funds Held in GIFT City by Indians

By Editors | 27/04/2023

The RBI removed a requirement for Indian residents to repatriate funds that lie idle for 15 days in GIFT City bank accounts. Restrictions on interest-bearing accounts also relaxed.

Trading & Investment

NSE IFSC-SGX Connect to Fully Launch on 3 July

By Editors | 18/04/2023

SGX will migrate all open positions in SGX Nifty to the relevant NSE IFSC NIFTY contracts during the weekend of 30 June.

Cryptocurrency

NYDFS Issues Final Rule on Bitlicense Assessment Fees

By Editors | 18/04/2023

Crypto firms with a Bitlicense will be billed five times each fiscal year, in part based on their size and complexity.

Payments & Settlements

India, Russia in Advanced Talks on Trade Treaty

By Sanday Chongo Kabange | 18/04/2023

The RBI is also engaged in discussions with several other countries on the possibility of conducting trade in the rupee.

Trading & Investment

NSE India to Launch WTI Crude Oil, Natural Gas Futures

By Editors | 17/04/2023

NSE will launch WTI crude oil and natural gas futures contracts from 15 May. Both already trade on India’s MCX.