India

Capital / Liquidity

RBI Defers Mandatory Pegging of Loan Rates to External Benchmarks

By Editors | 08/04/2019

The RBI has deferred a requirement for banks to link loan rates to external benchmarks, citing difficulties the change presents to banks’ interest rate risk management.

Securities / Derivatives

RBI to Allow Non-Residents to Trade Interest Rate Derivatives

By Editors | 07/04/2019

Under draft rules, non-resident retail investors can hedge through interest rate derivatives; non-retail investors can participate for other specified purposes.

Capital / Liquidity

RBI to Draw Up New Guidance on Bad Debt Resolution

By Editors | 05/04/2019

The central bank will have to issue a revised circular for banks on bad debt resolution after a February 2018 circular was invalidated by the Supreme Court this week.

Capital / Liquidity

RBI Large Exposures Framework Takes Effect

By Editors | 04/04/2019

The RBI has issued a notice on its large exposures framework, which is now in effect, clarifying that non-cleared derivatives will be considered outside its remit for another year.

Enforcement

SEBI Proposes SRO Nomination Plan for Mutual Fund Distributors, Advisers

By Editors | 02/04/2019

A consultation proposes the creation of a nomination committee comprising external experts to recommend a self regulatory organisation for mutual fund distributors and advisers to curb mis-selling.

Market Infrastructure

NSE, SGX Reach Agreement on India Derivatives

By Editors | 01/04/2019

NSE and SGX have reportedly finalised an agreement that will enable SGX to offer trading in Nifty derivatives to Singapore investors through a special purpose vehicle operating as a broker at GIFT City.

Capital / Liquidity

Vijaya, Dena Banks Start Operating as Bank of Baroda Branches

By Editors | 01/04/2019

The state-backed three-way merger of Vijaya Bank, Dena Bank and Bank of Baroda has taken effect, creating India’s third largest lender.

Market Infrastructure

SEBI Updates Disaster Recovery Guidelines for Market Infrastructures

By Editors | 01/04/2019

Stock exchanges, depositories and clearing corporations must have in place business continuity plans and disaster recovery policies that ensure ‘zero data loss’

Enforcement

India’s PNB Fined for Non-Compliance with SWIFT Norms

By Editors | 27/03/2019

The fine is significant because it was at Punjab National Bank where the $1.8b fraud occurred that prompted the RBI’s order for banks to link their core systems with SWIFT.