India

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    Fintech / Regtech

    ICICI Bank Expresses Regret for Exposing Credit Card Data

    By Ajoy K Das | 30/04/2024

    A glitch caused 17,000 credit cards to be erroneously mapped to the wrong users, who were able to see all the card details in the bank’s mobile app.

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    Securities / Derivatives

    SEBI Directs BSE to Remediate Erroneous Fee Calculations

    By Ajoy K Das | 30/04/2024

    BSE has to pay almost $20mn for to make up for years of incorrect calculations of its annual options trading turnover.

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    Securities / Derivatives

    RBI Allows SFBs to Hedge with Interest Rate Derivatives

    By Ajoy K Das | 30/04/2024

    Until now, small finance banks have only been permitted to use interest rate futures for hedging.

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    Capital / Liquidity

    RBI Sets Guidelines for SFBs to Transition into Universal Banks

    By Ajoy K Das | 30/04/2024

    Small finance banks can apply to transition into universal banks, subject to them meeting certain conditions.

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    Fintech / Regtech

    RBI Issues Draft Guidelines for Loan Aggregation Services

    By Ajoy K Das | 29/04/2024

    The RBI said borrowers may not know the identity of potential lenders when using loan aggregation services.

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    AML / KYC

    Message Encryption In Focus for Indian, European Authorities

    By Editors | 29/04/2024

    WhatsApp will leave India if it is required to break encryption. Europol expresses concern with message encryption on Messenger.

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    Securities / Derivatives

    India Amends FX Rules to Facilitate Direct Listings in GIFT City

    By Ajoy K Das | 29/04/2024

    The regulations make clear that firms raising funds through direct GIFT City listings can hold the proceeds in foreign currency accounts outside India.

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    Securities / Derivatives

    India: Small- and Mid-Cap Stocks Making Regulators Nervous

    By Pankaj Sharma | 29/04/2024

    Pankaj Sharma says SEBI’s approach to small- and mid-cap funds has been prudent, but that it should look to more closely align with international standards.

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    AML / KYC

    RBI Plans to Allow Banks Autonomy to Freeze Suspicious Accounts

    By Ajoy K Das | 29/04/2024

    The RBI plans to allow banks to suspend suspicious accounts without having to wait for a police complaint to be registered.

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    Capital / Liquidity

    Asia-Pacific’s Long March Towards the Basel Endgame

    By Blake Evans-Pritchard | 26/04/2024

    Those who think we’ve heard the last about the framework’s implementation should think again.

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