India

AML / KYC

India to Restrict Foreign Ownership of Pension Funds

By Editors | 23/06/2020

Under draft rules, government approval will be required for investment in an Indian pension fund from land-border countries including China; a 49% cap is proposed for other foreign investors.

Capital / Liquidity

RBI Unveils Regulatory Framework for Housing Finance Companies

By Editors | 19/06/2020

The new framework introduces enhanced capital and liquidity requirements for HFCs, and restrictions on intra-group exposures, among other changes.

Enforcement

High-level Panel Proposes Overhaul of SEBI Enforcement Mechanism

By Editors | 18/06/2020

The panel says intermediary regulations need to be amended to speed up enforcement action, and that SEBI should be granted the authority to seize assets subject to investigation.

Securities / Derivatives

India Launches Delivery-based Gas Trading Platform

By Editors | 18/06/2020

Participants will be able to digitally trade natural gas in both the spot and forward markets, facilitating price discovery and lowering overall gas prices.

Crypto / Digital Assets

India Considers Next Steps to Regulate Cryptocurrency

By Editors | 17/06/2020

Market commentators believe that a recent Supreme Court decision has prompted the government to work towards a new regulatory approach, rather than an outright ban.

Enforcement

India Proposes to Decriminalise Bounced Cheques

By Editors | 15/06/2020

Currently in India, bounced cheques can carry a jail sentence of up to two years and a fine up to twice the value of the cheque, or both.

Market Infrastructure

RBI Reassesses Ownership, Control, Governance at Private Sector Banks

By Editors | 15/06/2020

The RBI has released a discussion paper proposing reforms to improve bank governance, and has formed a working group to review rules on private sector bank ownership and control.

Market Infrastructure

RBI Updates Oversight Framework for FMIs, Retail Payment Systems

By Editors | 14/06/2020

The framework details the oversight objectives, supervisory processes and assessment methodology the RBI will apply to financial market infrastructures and retail payment systems.

Securities / Derivatives

SEBI Relaxes Norms to Fast-track Further Public Offers

By Editors | 11/06/2020

FPOs will still be allowed to proceed if show cause notices or prosecution proceedings are still ongoing, or it securities law violations have been recently settled.