INDIA

Market Infrastructure

NSE-SGX Final Arbitration Decision Deferred to December 2020

By Editors | 20/03/2019

The deferment means Singapore Exchange will be able to continue offering SGX Nifty products until a long term solution is agreed.

Capital / Liquidity

RBI Releases Latest List of Indian D-SIBs

By Editors | 18/03/2019

SBI, ICICI Bank and HDFC Bank will remain India’s D-SIBs this year. The additional CET1 capital they need to hold will rise in April.

Enforcement

RBI Issues Finalised Guidelines on Market Abuse

By Editors | 18/03/2019

The new rules against market abuse cover market and benchmark manipulation and the misuse of information in markets regulated by the RBI.

Securities / Derivatives

India Scraps FPI Investment Cap for Corporate Bonds

By Editors | 13/03/2019

In response to market feedback, SEBI has dropped the 20% cap on foreign portfolio investors’ investment in corporate bonds.

AML / KYC

SEBI’s Meets Opposition from Global Funds on KYC Requirements

By Editors | 12/03/2019

Global asset managers have opposed SEBI’s plan to create a centralised database of beneficial owners of foreign portfolio investors.

Enforcement

SWIFT Related Fines Imposed by RBI Total $10mn Across 36 Banks

By Editors | 11/03/2019

The number of banks fined by the RBI for failing to integrate their core banking systems with SWIFT has now risen to 36, with fines totaling $10.16mn.

Capital / Liquidity

India to Raise Capital Rules for Housing Finance Companies

By Editors | 07/03/2019

India’s mortgage regulator is proposing to increase capital adequacy requirements for housing finance companies from 12% to 15% by March 2022.

Enforcement

UPDATED – RBI Fines Multiple Banks for SWIFT Integration Non-Compliance

By Editors | 05/03/2019

The penalties follow directions issued by the RBI in February 2018 requiring banks to link their core banking systems with the SWIFT network.

Securities / Derivatives

SEBI Allows Funds to Participate in Commodity Derivatives

By Editors | 04/03/2019

The entry of funds into commodity derivatives is expected hasten the development of and attract long-term liquidity to India’s commodities markets.