India

Securities / Derivatives

RBI to Open Up Rupee Derivatives for Hedging from 1 June

By Editors | 09/04/2020

Authorised dealers and can allow users to trade rupee derivatives up to USD 10 million notional value outstanding without the need to establish the existence of underlying exposures.

Enforcement

RBI to Establish New Banking Fraud Oversight Division

By Editors | 08/04/2020

The initiative has reportedly been sped up in response to recent frauds at Yes Bank and Punjab National Bank.

Market Infrastructure

RBI Reduces Market Hours to Curb Volatility

By Editors | 06/04/2020

During India’s lockdown, currency, bond and money markets will operate for only 4 hours. SEBI has also brought forward the cut-off times for the mutual fund industry.

RBI Grants Exemptions to Small Finance Banks

By Editors | 02/04/2020

Existing small finance banks will not need prior RBI approval to undertake non-risk sharing simple financial service activities or open banking outlets in unbanked rural centres.

Securities / Derivatives

India Further Opens Bond Market to Non-resident Investors

By Editors | 02/04/2020

The RBI has fully opened certain categories of government securities to non-resident investors and raised the FPI limit for investment in corporate bonds.

Market Infrastructure

SEBI Asks Rating Agencies to Delay Default Recognition

By Editors | 31/03/2020

Market participants call SEBI’s move timely, amid fears of mass downgrades in light of the operational disruptions caused by Covid-19.

Securities / Derivatives

SEBI Extends Implementation Timelines on Key Market Reforms

By Editors | 31/03/2020

The new stewardship code for mutual funds is deferred three months. Portfolio managers, AIFs, and VC funds have two more months to comply with new disclosure requirements.

Market Infrastructure

India: State Bank Merger Plan Takes Effect on 1 April

By Editors | 31/03/2020

A plan to merge ten state-run banks into four takes effect from 1 April, in a move that will help consolidate their national presence and extend their global reach.

Capital / Liquidity

RBI Announces Broad Measures to Address Covid-19 Financial Stress

By Editors | 28/03/2020

The measures include a 3 month moratorium on term loans, deferred interest on working capital loans, $50bn of liquidity measures, and 6-month delays for NSFR, CCB and LEI implementation.