India

Fintech / Regtech

RBI to Issue Regulatory Sandbox Guidelines Within 2 Months

By Editors | 26/03/2019

The RBI will set up a regulatory sandbox and create an ecosystem which promotes collaboration in fintech, central bank governor Shaktikanta Das said on Monday.

Capital / Liquidity

RBI Again Defers Banks’ Implementation of New Accounting Standards

By Editors | 25/03/2019

The RBI has again deferred ‘until further notice’ the implementation of new accounting rules for banks, which could have forced banks to raise bad loan provisions by $16bn in H2, said Fitch.

Enforcement

SEBI Seeks Broader Powers to Pursue Securities Law Violations

By Editors | 25/03/2019

SEBI wants to be able to inspect the books of listed companies when it suspects any securities law violations, and to impose penalties for the manipulation of a company’s accounts.

Enforcement

Indian Billionaire Arrested in London over $2bn Bank Fraud

By Editors | 22/03/2019

India’s diamond billionaire, Nirav Modi, has been arrested in London for his alleged role in a $2bn fraud at Punjab National Bank reported last year.

Market Infrastructure

SEBI Consults on Adoption of Dual Class Share Structures

By Editors | 22/03/2019

SEBI’s consultation paper seeks feedback on the issuance of dual class shares by companies already listed in India and those that may be in future.

Capital / Liquidity

RBI Asks Banks to Boost Monitoring of End Use of Loan Funds

By Editors | 20/03/2019

Following a string of penalties against banks last month, the RBI has asked banks to improve their monitoring of the origin and end use of loan funds.

Market Infrastructure

UPDATED – Bank of England Grants Recognition to Indian Clearing Corporations

By Editors | 20/03/2019

The Metropolitan Clearing Corporation of India is the first Indian clearing corporation to receive recognition from under the UK’s temporary recognition regime.

Market Infrastructure

NSE-SGX Final Arbitration Decision Deferred to December 2020

By Editors | 20/03/2019

The deferment means Singapore Exchange will be able to continue offering SGX Nifty products until a long term solution is agreed.

Capital / Liquidity

RBI Releases Latest List of Indian D-SIBs

By Editors | 18/03/2019

SBI, ICICI Bank and HDFC Bank will remain India’s D-SIBs this year. The additional CET1 capital they need to hold will rise in April.