India

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    Indian Parliament Advances Bill to Amend Banking Regulations

    By Editors | 05/12/2024

    The bill makes as many as 19 amendments to existing banking laws, including allowing deposits to have up to four nominees in their accounts.

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    Fintech / Regtech

    India: RBIH Wants Banks to Use AI to Detect Mule Accounts

    By Editors | 03/12/2024

    The Reserve Bank Innovation Hub is reportedly in talks with ten public and private banks about adopting its “Mulehunter.Ai” tool to identify mule accounts.

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    Securities / Derivatives

    SEBI to Make Stock Exchanges Interoperable to Guard Against Outages

    By Editors | 02/12/2024

    The NSE and BSE will act as alternative trading venues for each other when a technical glitch or outage occurs at either exchange.

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    Enforcement

    US Charges Against Gautam Adani Have Had Extensive Impacts

    By Manesh Samtani | 27/11/2024

    Opposition parties demand parliamentary probe; Kenya cancels deals; Sri Lanka opens investigation; Global banks halting credit.

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    Securities / Derivatives

    SEBI Mandates Mark-to-Market Valuation for Mutual Fund Repo Transactions

    By Editors | 27/11/2024

    Mutual fund investments in repo transactions with tenors up to 30 days shall be valued on a mark-to-market basis.

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    Securities / Derivatives

    SEBI Proposes to Diversify Ownership of Clearing Corporations

    By Editors | 26/11/2024

    SEBI proposes two options to diversify ownership of clearing corporations to allow them to operate as public utilities free from commercial, profit-making considerations.

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    Securities / Derivatives

    SEBI Abolishes Mandatory Security Deposit for Public Issues

    By Mark Johnston | 26/11/2024

    SEBI has removed the mandatory one percent security deposit for public issues, aiming to simplify business operations.

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    Enforcement

    US Authorities Charge Billionaire Gautam Adani for Bribery, Fraud

    By Nithya Subramanian | 21/11/2024

    The SEC also filed a complaint saying Adani induced US investors to buy $175mn in bonds by misrepresenting an aversion to paying bribes.

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    Fintech / Regtech

    RBI to Launch Public Cloud for Financial Services Industry

    By Editors | 19/11/2024

    The RBI programme will use only local IT firms to offer cloud data storage to financial firms at affordable prices.

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    Fintech / Regtech

    SEBI Proposes Reforms to Make Firms Responsible for AI Use

    By Nithya Subramanian | 19/11/2024

    SEBI is proposing amendments that will make MIIs, intermediaries and other regulated entities accountable for their use of AI/ML tools.

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