India

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    India Proposes Collateral Rules for Cross-border Reinsurance Transactions

    By Ajoy K Das | 24/02/2024

    IRDAI said the proposed requirements would protect the interest of the policyholders and insurers as well as promote a healthy and robust insurance ecosystem.

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    AML / KYC

    India to Centralise FATCA, CRS Certifications at KYC Registration Agencies

    By Ajoy K Das | 21/02/2024

    RFIs are directed to upload certifications under FATCA and CRS received from clients directly into the KRA system.

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    Securities / Derivatives

    India to Develop GIFT City Currency Derivatives Market

    By Ajoy K Das | 20/02/2024

    The IFSCA has established an advisory committee to study the introduction of a GIFT City market for exchange traded currency derivatives.

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    AML / KYC

    RBI Directs Card Networks to Stop Facilitating Certain B2B Payments

    By Ajoy K Das | 19/02/2024

    Card networks should not enable businesses to use fintech players as intermediaries to make card payments to non-card accepting recipients.

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    Fintech / Regtech

    RBI Defers Effective Date of Paytm Payments Bank Restrictions

    By Editors | 18/02/2024

    The deferral is to allow customers more time to make alternative arrangements. RBI also released FAQs to clarify the impacts of the restrictions.

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    Securities / Derivatives

    SEBI Proposes Registration Requirement for PMS Distributors

    By Ajoy K Das | 16/02/2024

    The proposal is in line with the mutual fund industry where distributors are required to be registered with AMFI.

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    Fintech / Regtech

    India, Nepal Ink Pact to Integrate Fast Payments Systems

    By Ajoy K Das | 16/02/2024

    The RBI has agreed to interlink the UPI with its counterpart in Nepal to enable instant and lower cost cross-border remittances.

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    Securities / Derivatives

    Asset Managers Moving India Funds to GIFT City – Report

    By Ajoy K Das | 14/02/2024

    Eight of the ten largest Indian asset managers have either relocated or are planning to relocate to GIFT City.

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    Enforcement

    India Arrests Three in Raids Against Cybercrime Syndicate

    By Ajoy K Das | 14/02/2024

    This is the first case where India’s Enforcement Directorate has used a complaint lodged overseas to register a PMLA case and seize proceeds of crime.

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    Securities / Derivatives

    SEBI Bars TV Guests, Analysts from Securities Market

    By Ajoy K Das | 13/02/2024

    11 individuals and 4 entities made unlawful gains of $900,000 from trading in stock they were recommending in TV broadcasts.

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