India

Market Infrastructure

IFSCA Proposes Rule Changes for GIFT City Market Infrastructure

By Ajoy K Das | 06/09/2024

The changes are aimed at ensuring robust governance standards at GIFT City’s two stock exchanges, two clearing corporations and one depository.

Securities / Derivatives

StanChart Completes First Gold Price Hedge Deal in India’s GIFT City

By Ajoy K Das | 05/09/2024

Standard Chartered Bank completed an OTC derivatives deal in GIFT City worth $4mn for hedging gold prices.

Securities / Derivatives

India IFSCA Issues New Listing Regulations for GIFT City

By Ajoy K Das | 04/09/2024

The regulations specify requirements for Indian and foreign companies seeking to list debt and equity securities (including SPACs) in GIFT City.

Securities / Derivatives

SEBI to Simplify Entry Rules for Government Bond Market

By Ajoy K Das | 04/09/2024

SEBI is working on easing its registration requirements for foreign investors that solely invest in Indian government bonds.

Fintech / Regtech

RBI Sets Out Five-point Agenda for Future Financial Landscape

By Ajoy K Das | 04/09/2024

RBI governor Shaktikanta Das outlined five strategic priorities, including sustainable finance, cybersecurity, and financial infrastructure.

Securities / Derivatives

SEBI Proposes to Update Record Keeping Requirements

By Ajoy K Das | 03/09/2024

SEBI proposes to make it mandatory for regulated entities to maintain records of communications for a minimum eight years.

Crypto / Digital Assets

Indian Court Orders Takedown of Scam Crypto Websites

By Ajoy K Das | 03/09/2024

The order was granted after crypto firm Mudrex filed legal action to stop investors being scammed by websites using its name and brand.

Enforcement

Aviva Facing Charges in India for Tax Evasion, Fake Invoices

By Ajoy K Das | 02/09/2024

Aviva allegedly used fake invoices to circumvent regulatory limits on agent compensation, in the process evading taxes worth $5.2mn.

Capital / Liquidity

Indian Banks Seeking Easier Rules for Retail Deposits, Project Loans

By Ajoy K Das | 02/09/2024

Banks want the RBI to relax the proposed ‘run-off’ requirement for retail deposits and the proposed provisioning norms for project loans.