India

Crypto / Digital Assets

India to Issue Policy Paper on Crypto ‘Before September’

By Ajoy K Das | 30/07/2024

The paper will include proposals on the scope of cryptocurrency regulations, based on the IMF-FSB roadmap adopted by the G20 last year.

Enforcement

India, FBI Arrest 43 in Joint Operation Against Cybercrime Network

By Ajoy K Das | 30/07/2024

The cyber-enabled financial crime network operated in multiple countries and is estimated to have defrauded people of over $20mn.

Capital / Liquidity

RBI Issues PCA Framework for Urban Cooperative Banks

By Ajoy K Das | 29/07/2024

Like commercial banks and NBFCs, UCBs will be required to take certain actions if they breach risk thresholds relating to capital, asset quality, and profitability.

Fintech / Regtech

RBI Fines Visa and Two Other Payment System Operators

By Ajoy K Das | 29/07/2024

Visa was penalised for implementing a payment authentication solution without obtaining regulatory clearance from the RBI.

Securities / Derivatives

Most Individual Investors Lose Money on Intraday Trading: SEBI Study

By Ajoy K Das | 26/07/2024

Over 70 percent of individual investors engaging in intraday stock trading experienced losses during 2022-23, SEBI found in a new study.

Capital / Liquidity

RBI Issues Draft Revisions to Liquidity Rules for Banks

By Ajoy K Das | 26/07/2024

Banks will have to assign an additional run-off factor for retail deposits enabled with internet and mobile banking facilities.

AML / KYC

RBI Revises Framework for Domestic Money Transfer Services

By Ajoy K Das | 25/07/2024

The revisions tighten KYC record keeping, AFA validation and transaction message requirements for domestic money transfers.

Securities / Derivatives

India Hikes Taxes on Equity Investment Gains, Derivatives Trades

By Ajoy K Das | 25/07/2024

The national budget increases capital gains tax for equity investments and the transaction tax for futures and options. The tax on long term bond gains was reduced.

Fintech / Regtech

India Launches Digital Payments Wallet for Inbound Travellers

By Ajoy K Das | 24/07/2024

The ‘UPI One World’ wallet is a prepaid payment instrument enabling visitors to India to make cashless payments across the country.