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Market Infrastructure
India Directs Payment Firms to Store User Data Onshore
By Garima Chitkara | 09/04/2018
Payment service providers have been asked to move all consumer data, including end-to-end transaction details to India within six months to ensure easier access by the central bank for supervisory purposes. Foreign firms to be impacted more than domestic firms.
Crypto / Digital Assets
India Bars Banks from Cryptocurrency Dealings
By Manesh Samtani | 07/04/2018
Reports suggest banks will have three months to comply; central bank meanwhile explores feasibility of state-backed digital currency.
Enforcement
PNB Investigation Reveals Systemic Failures at Bank, RBI
By Garima Chitkara | 05/04/2018
PNB allegedly misled the regulator about the progress of its Swift integration. Indian law enforcement noted that an ill-defined risk-based supervisory approach may have caused the RBI to miss the fraud.
Securities / Derivatives
Indian Banks Can Spread Bond Losses Over Four Quarters
By Garima Chitkara | 05/04/2018
Banks to get a breather from taking immediate losses on rising government yields, as provisioning on NPLs have put pressure on profitability across the industry.
Enforcement
ICICI Bank Fined for Failing to Disclose Debt Securities Sale
By Garima Chitkara | 31/03/2018
ICICI Bank sold debt securities from its held-to-maturity portfolio in excess of 5 percent of total value without the necessary disclosure in contravention with RBI rules.
Market Infrastructure
India to Democratise Algo Trading Access
By Garima Chitkara | 29/03/2018
New measures aimed at cheaper access to tick data and co-location, greater disclosure on algorithms and latency from exchanges, stiffer penalties for high order-to-trade ratios.
Fintech / Regtech
Indian Exchange Eyes Machine Learning, AI to Combat HFT Risks – Report
By Editors | 28/03/2018
Managing director and CEO of National Stock Exchange tells Livemint new technology is needed to meet traders’ increasing sophistication.
Market Infrastructure
India to Implement Early Warning System for Broker Defaults
By Garima Chitkara | 26/03/2018
SEBI consulting on draft measures on norms on early detection of potential default among stock brokers through an Intelligent and Specific Early Warning System.
Enforcement
UPDATED – Indian Banks Fall Victim to $342mn in Loan Frauds
By Editors | 23/03/2018
Jewellery chain falsified financial records to obtain 8.24 billion rupees in loans from 14 banks over 10 years; infrastructure firm defrauds 9-bank consortium of 13.94 billion rupees.
Capital / Liquidity
India Releases Risk Management Norms for Clearing Commodity Derivatives
By Garima Chitkara | 22/03/2018
Clearing corporations to maintain liquid assets after margins of INR5 million.
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