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India
Securities / Derivatives
RBI Asks Banks to Refrain from Large Bets Against Rupee – Report
By Ajoy K Das | 08/08/2024
RBI officials asked banks to “consider the existing position size the risk limit”, indicating it did not want them to add to existing bets against the rupee.
AML / KYC
India ED Has Pursued Over 5,000 ML Cases Since 2014
By Ajoy K Das | 08/08/2024
Minister of State for Home Affairs Nityanand Rai said 40 convictions have been secured under the the Prevention of Money Laundering Act.
Securities / Derivatives
SEBI Proposes Stricter Rules for Offshore Derivatives Issuance
By Ajoy K Das | 08/08/2024
Issuers will be required to maintain a separate dedicated FPI registration and prohibited from using Indian derivatives as the underlying.
Securities / Derivatives
SEBI Imposes New Obligations on AMCs to Address Market Abuse
By Ajoy K Das | 07/08/2024
Fund managers are required to put in place a whistleblower mechanism and enhance their surveillance systems, internal controls and procedures.
Securities / Derivatives
SEBI Proposes to Streamline Rules for Entities with Listed NCDs
By Ajoy K Das | 07/08/2024
SEBI proposes to align the approval and authentication process for financial results of entities with listed NCDs to that of equity-listed entities.
Crypto / Digital Assets
India Demands $86m in Back Taxes from Crypto Giant Binance
By Ajoy K Das | 06/08/2024
Binance is said to have earned more than $476mn in transaction fees from Indian customers between July 2017 and March 2024.
Capital / Liquidity
RBI Proposes Regulatory Principles for Managing Credit Models
By Ajoy K Das | 06/08/2024
Lenders using models from third parties have to ensure the contractual arrangements allow supervisory evaluations of the models by the RBI.
Securities / Derivatives
SEBI to Overhaul Approval Process for IPOs Using AI
By Ajoy K Das | 06/08/2024
A “template fill-in-the-blank IPO document” will be introduced and AI-based tools will be used to review the documents.
Securities / Derivatives
SEBI Proposes Standardised Timelines for Trading of Bonus Shares
By Ajoy K Das | 05/08/2024
The changes aim to create uniformity in the timelines for crediting and trading bonus shares across all issuers, SEBI said.
Capital / Liquidity
RBI Revises NPA Provisioning Norms for Cooperative Banks
By Ajoy K Das | 05/08/2024
The RBI’s instructions aim to ensure uniformity in the treatment of Bad and Doubtful Debt Reserves for prudential purposes.
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