India

Capital / Liquidity

India Liberalises Framework for Overseas Borrowing

By Editors | 17/01/2019

Eligible domestic borrowers can borrow up to $750mn per year in foreign currency or rupees from any entity in a country which is FATF or IOSCO compliant.

Market Infrastructure

RBI Eyes Rules to Match CEO Pay to Bank Financial Health

By Editors | 17/01/2019

The Reserve Bank of India plans to provide guidance rules to bank boards on setting CEO remuneration, based on certain performance-related metrics.

Market Infrastructure

India to Force Foreign Brokers to Store Data Locally

By Editors | 15/01/2019

SEBI plans to mandate that data on Indian customers be stored on local servers, or for a real-time backup to be created to enable access from within the country.

Enforcement

NSE Chairman Resigns Amid Bribery Probe

By Editors | 14/01/2019

NSE chairman Ashok Chawla was named in a charge sheet related to a bribery case involving telecom operator Aircel and its Malaysian investor Maxis.

Enforcement

RBI Imposes Monetary Penalty on Citibank India

By Editors | 14/01/2019

The ₹30mn penalty is based on deficiencies in regulatory compliance related to ‘fit and proper’ requirements for bank directors.

Market Infrastructure

India Introduces Cybersecurity Rules for Mutual Funds, Asset Managers

By Editors | 11/01/2019

Mutual funds and asset management companies must develop a cybersecurity policy document approved and regularly reviewed by their boards and trustees.

Capital / Liquidity

India Delays Implementation Of Capital Conservation Buffer By One Year

By Editors | 11/01/2019

The RBI has announced the final tranche of the capital conservation buffer will be applicable from 31 March 2020 instead of 31 March 2019.

Capital / Liquidity

RBI Turns Down Bank Requests for Special Classification of IL&FS Loans

By Editors | 10/01/2019

Banks will need to provision for IL&FS assets at the standard rate of 15% in the first year in the December quarter and will not get the six month reprieve they had asked for.

Securities / Derivatives

SEBI Instructs Brokers, Depository Participants to Report on AI, ML Systems

By Editors | 07/01/2019

Stock brokers and depository participants will have to report information on systems based on artificial intelligence and machine learning.