India

Credit Risk

RBI Issues New Guidelines on the Provision of Microfinance Loans

By Ranamita Chakraborty | 23/03/2022

The RBI is lifting the interest rate ceiling on microfinance loans, but says it will continue to check that lenders do not charge “usurious” rates.

KYC & CDD

GLEIF Welcomes LEI System’s First India Validation Agent

By Editors | 22/03/2022

Rubix Data Sciences has become the first India-based Validation Agent within the Global LEI System, and the sixth globally.

Payments & Settlements

India, China to Enable Cross-Border Payments With Arab World

By Editors | 21/03/2022

India’s NPCI and China’s UnionPay have signed agreements to establish interoperability with Buna, a payment system owned by the Arab Monetary Fund.

KYC & CDD

RBI Orders Paytm Payments Bank to Stop Onboarding Clients

By Editors | 19/03/2022

The bank reportedly violated rules by allowing data to flow to servers overseas and did not properly verify thousands of customers.

Trading & Investment

SGX Selects Tata Consultancy Services to Power GIFT Connect

By Editors | 17/03/2022

The GIFT Connect system will permit SGX members to place orders on NSE IFSC using FIX/proprietary APIs or the TCS BaNCS dealing terminal.

Cloud & Infrastructure

RBI Lifts Restrictions on Digital Product Launches at HDFC

By Editors | 16/03/2022

The restrictions were imposed in 2020 in response to multiple digital outages that impacted customers. HDFC is India’s largest private bank.

Payments & Settlements

RBI Launches New Services to Drive Digital Payments Adoption

By Editors | 15/03/2022

UPI-based instant payments can be enabled on some 400 million feature phones in India that do not have an internet connection.

Market Abuse

SEBI Seizes Records from Market Manipulators in 4 States

By Editors | 14/03/2022

Individuals and entities were operating Telegram channels to encourage investors to deal in listed stocks, thereby creating “artificial volume and price rise”.

Custody & Infrastructure

Paxos, Sygnum to Offer Digital Asset Services in Singapore

By Editors | 11/03/2022

Paxos will gain a DPT licence under the Payment Services Act. Sygnum will provide fund unit tokenisation and securitise NFTs and metaverse assets.