India

HSBC Inaugurates IBU Branch at India’s GIFT City

By Editors | 29/01/2021

HSBC was the first global bank to obtain a licence from the IFSCA, set up in April 2020 as a unified authority for GIFT City financial services.

Market Infrastructure

Policy Rethink Needed to Promote Green Finance Development in India

By Manesh Samtani | 27/01/2021

India needs a policy framework that addresses existing frictions at both the national and state levels, says a new paper from the RBI.

Capital / Liquidity

RBI Proposes New Regulatory Approach to Contain NBFC Risks

By Editors | 25/01/2021

About 25 to 30 NBFCs considered systemically significant will have to maintain a 9% CET1 ratio and be subject to a range of other bank-like regulatory requirements.

AML / KYC

SEBI Proposes New Process for KYC in Securities Market

By Editors | 17/01/2021

Under the proposal, KYC Registration Agencies, stock exchanges and depositories would be responsible for client KYC processes.

Capital / Liquidity

RBI Warns of Deteriorating Asset Quality, Capital Buffers

By Editors | 14/01/2021

Stress tests indicate 4 banks may fail to meet minimum capital requirements by September 2021 under the baseline scenario.

Fintech / Regtech

RBI to Explore New Regulatory Approach to Digital Lenders

By Editors | 14/01/2021

A new working group has been formed to study the risks of digital lending activities and recommend regulatory changes to enhance consumer protection and data security.

Market Infrastructure

SEBI Proposes to Ease Stock Exchange Ownership Norms

By Editors | 12/01/2021

Domestic promoters will be allowed to own 100% of a newly set-up stock exchange or depository for up to 10 years. Foreign promoters will be allowed to own up to 49%.

Market Infrastructure

RBI Directs Banks to Enhance Internal Audit Function

By Editors | 12/01/2021

Banks are encouraged to adopt the international standards for internal audit, such as those issued by the BCBS or the Institute of Internal Auditors.

AML / KYC

RBI Mandates LEI Use for Large Payments via RTGS, NEFT

By Manesh Samtani | 06/01/2021

From 1 April 2021, all non-individual bank customers initiating or receiving transactions over 500m rupees via the RTGS or NEFT systems will need an LEI.