INDIA

Fintech / Regtech

Xiaomi Seeks Entry to India Payments Market

By Editors | 30/08/2018

The Chinese smartphone maker is conducting tests for its upcoming payments service in India, which is set to be powered by the UPI, if approval is granted by the RBI.

Securities / Derivatives

Axis Becomes First Bank Subsidiary to Offer Commodity Derivatives

By Editors | 30/08/2018

Clients can now trade commodity futures and options on the MCX; trading on NCDEX to be supported by end-September.

Capital / Liquidity

RBI Deadline for Bad Loan Resolution Passes

By Manesh Samtani | 29/08/2018

The central bank’s February circular allowed banks 180 days to resolve defaulted loans over 20bn rupees; many of these accounts will now be referred to bankruptcy courts.

Securities / Derivatives

SEBI Concerned About AUM Concentration Among Mutual Funds

By Garima Chitkara | 27/08/2018

SEBI chairman expressed concern about the high concentration of AUM among the top mutual funds and spoke of the need for greater competition in the industry.

Capital / Liquidity

RBI Restates Case For Public Credit Registry

By Garima Chitkara | 24/08/2018

RBI deputy governor says that a public credit registry, with inputs from the corporate registration and GST database, will help increase access to credit in India.

Capital / Liquidity

India’s Bank Recapitalisation Plan Will Not Boost Loan Growth – Moody’s

By Manesh Samtani | 23/08/2018

A recent report by Moody’s Investor Services says the government’s recapitalisation plan for state run banks will be just enough to cover loan losses and regulatory capital ratios, but not enough to boost credit growth required for economic expansion.

Capital / Liquidity

India’s Government Asks RBI to Ease Pressure on State Banks

By Manesh Samtani | 23/08/2018

Government wants central bank to review criteria for releasing banks from PCA framework, shift to Basel III capital standards.

AML / KYC

SEBI Extends Deadline to Provide FPI Beneficial Ownership Details

By Garima Chitkara | 22/08/2018

Requirement to provide details of beneficial ownership extended to end-December, after market participants asked for a review of the FPI guidelines and more time to comply.

Market Infrastructure

Cost Not A Factor in Ensuring Cyber Security – RBI

By Garima Chitkara | 20/08/2018

Market participants should not consider cost savings when formulating cyber security measures, said RBI governor Urjit Patel while launching digital payments platform UPI 2.0.