India

Capital / Liquidity

RBI Eases Rules on Overseas Borrowing for NBFCs

By Editors | 01/08/2019

NBFCs can use overseas borrowings to fund working capital, repay rupee loans, and on-lend to domestic customers. Banks can also sell distressed loans to eligible overseas lenders.

Fintech / Regtech

India Enables Consent-Based Financial Data Sharing

By Manesh Samtani | 26/07/2019

Four years of collaboration between India’s major financial regulators has resulted in a new platform that enables financial services providers to share data with other institutions based explicitly on user consent.

Market Infrastructure

NSE Clearing Retains Dominance as Interoperability Kicks In – Report

By Editors | 25/07/2019

Trading members and custodians have largely selected NSE Clearing over ICCL to settle trades in the equity cash segment following the introduction of clearing corporation interoperability.

Fintech / Regtech

Govt Panel Formally Recommends Complete Crypto Ban in India

By Manesh Samtani | 24/07/2019

An inter-ministerial committee has formally recommended a complete ban on cryptocurrencies in India and to punish any crypto-related activity with up to 10 years’ jail.

Market Infrastructure

BSE, SSE to Explore Dual Listings, Offshore RMB Products

By Editors | 23/07/2019

BSE India and the Shanghai Stock Exchange have agreed to develop communication channels to facilitate cross-border capital market cooperation.

Capital / Liquidity

RBI Urges Better Risk Monitoring, Faster NPA Resolution at State Banks

By Editors | 23/07/2019

RBI governor Shaktikanta Das asked state-owned banks to speed up bad debt recovery efforts, strengthen internal controls and risk monitoring, and help fix the ongoing NBFC liquidity crisis.

Market Infrastructure

SEBI Proposes Additional Requirements for Resigning Auditors

By Editors | 22/07/2019

Under the proposal, auditors will be required to finalise their audit reports and make detailed disclosures regarding their reasons for resignation from listed companies.

Capital / Liquidity

SEBI Tightens NPA Disclosure Requirements for Listed Banks

By Editors | 21/07/2019

Listed banks will have to make disclosures if the additional provisioning for NPAs assessed by RBI exceeds 10% of reported profit, compared to 15% previously.

Capital / Liquidity

Allahabad Bank Reports $258mn Fraud by Indian Steelmaker

By Editors | 17/07/2019

Following a similar report from Punjab National Bank earlier this month, Allahabad Bank has reported a $258mn fraud at Bhushan Power & Steel.