INDIA

Enforcement

India Cracks Down on Bank Auditors

By Garima Chitkara | 02/07/2018

RBI has introduced a framework to define lapses in bank auditor conduct and reporting as well as enforcement action to be taken as a result of such lapses.

Capital / Liquidity

RBI Report Paints Gloomy Picture for India’s Banking Sector

By Manesh Samtani | 02/07/2018

Stress tests indicate NPA ratios at Indian banks to fall to lowest level since year 2000; Public sector banks to be hit the hardest, with six expected to experience capital shortfall.

Securities / Derivatives

India Mulls Allowing Mutual Funds in Commodities Derivatives – Report

By Garima Chitkara | 28/06/2018

Market regulator SEBI discussing whether to allow retail investors to participate in commodity derivatives through mutual funds; may also allow derivatives based on commodity indices.

Crypto / Digital Assets

India Reverses Stance on Cryptocurrency?

By Emma Zhou | 27/06/2018

India official says the government will release new cryptocurrency regulatory framework next month; Supreme Court brings forward hearings on petitions challenging earlier RBI ban.

Market Infrastructure

RBI Directs Banks to Upgrade Security Amid Rising ATM Fraud

By Manesh Samtani | 26/06/2018

Banks instruct banks and white-label ATM operators to upgrade ATM security in a phased manner until June 2019, threatening enforcement action for noncompliance.

Market Infrastructure

India Proposes LEI Rules For All Financial Transactions

By Garima Chitkara | 25/06/2018

RBI releases draft rules which would require the use of LEIs for non-derivatives transactions, having already announced a phasing in for OTC derivatives markets.

Market Infrastructure

India Tightens Outward Remittance Norms To Check Fund Flows

By Garima Chitkara | 21/06/2018

The RBI requires the quoting of permanent account numbers for all transactions. It has also tightened the definition of “close relative” for funds sent for the “maintenance” of close relatives under its remittance regulation.

Securities / Derivatives

India Eases Rules For FPI Investment In Corporate Bonds

By Garima Chitkara | 18/06/2018

RBI has loosened some restrictions on residual maturity and concentration limits on corporate bond holdings by foreign investors in a bid to boost demand and support the rupee.

Securities / Derivatives

UPDATED – SGX Granted Extension for Continued India Derivatives Trading

By Manesh Samtani | 18/06/2018

SGX, NSE ordered to facilitate continued listing of SGX Nifty products for at least two successive contract months beyond arbitration; injunction preventing SGX from launching new successor products to remain in effect pending final outcome.