India

Securities / Derivatives

SEBI to Allow Cross-Margining for Futures with Different Expiries

By Ajoy K Das | 25/04/2024

A spread margin of 40 percent will be applicable for offsetting positions in correlated indices with different expiry dates.

Enforcement

RBI Imposes Business Restrictions on Kotak Mahindra Bank

By Ajoy K Das | 25/04/2024

The bank is prohibited from onboarding new customers and issuing fresh credit cards due to long-standing IT risk management deficiencies.

Enforcement

Indian NBFC Detects Vehicle Loan Fraud Worth $18m

By Ajoy K Das | 25/04/2024

The fraud involved forgery of KYC documents related to retail vehicle loans, resulting in company funds being embezzled.

Market Infrastructure

GIFT City IBUs Directed to Offer Internet Banking Within Six Months

By Ajoy K Das | 25/04/2024

IFSC Banking Units in GIFT City are asked to benchmark their internet banking services against top global banks in Singapore and Hong Kong.

Securities / Derivatives

SEBI Finds Violations by Offshore Funds Invested in Adani Group

By Ajoy K Das | 24/04/2024

12 offshore funds violated disclosure rules and breached investment limits. Eight of these funds are trying to settle with SEBI.

Fintech / Regtech

India Explores Measures to Address Duopoly in Mobile Payments Market

By Ajoy K Das | 23/04/2024

Google Pay and PhonePe together account for nearly 86% of UPI transactions by volume. Support and incentives are being considered for smaller players.

Securities / Derivatives

SEBI Proposes Framework for Price Discovery of Investment Companies

By Ajoy K Das | 22/04/2024

A special call-auction may be enabled for listed investment companies and investment holding companies.

Crypto / Digital Assets

Binance, KuCoin to Return to India as Compliant Crypto Exchanges

By Ajoy K Das | 19/04/2024

Binance will pay a $2mn penalty and return to India as a registered firm. Kucoin announced its return last month.

India Working on New Corporate Insolvency Frameworks

By Ajoy K Das | 18/04/2024

Frameworks for cross-border and group insolvencies are expected to come into effect after India’s national elections are over in June.