India

Capital / Liquidity

RBI to Extend PCA Framework to Government NBFCs

By Editors | 12/10/2023

The RBI will extend the PCA framework to government NBFCs, except those in the “base layer”, from 1 October 2024.

SEBI Calls on AIFs to Develop and Adopt Code of Conduct

By Editors | 12/10/2023

The industry body for alternative investment funds would help to address their use by regulated entities to circumvent regulations.

Fintech / Regtech

SEBI Grants MCX Approval to Launch New Platform

By Mark Johnston | 11/10/2023

The new web-based commodity derivatives platform will launch on 16 October after being put on hold last month.

Capital / Liquidity

SEBI Imposes Capital Rule on Execution-only Mutual Fund Platforms

By Editors | 10/10/2023

Category-II EOPs will be required to maintain at least INR 1 million (USD 12,000)  in capital with the stock exchange.

Fintech / Regtech

RBI Allows Banks to Introduce Card Token Facilities

By Editors | 09/10/2023

Card token creation has until now only been available through merchant applications or websites, not issuer banks.

Securities / Derivatives

SEBI Forms 16 Working Groups to Focus on Rule Simplification

By Editors | 09/10/2023

SEBI is additionally inviting suggestions from the public and regulated entities on ways to simplify, ease and reduce cost of compliance.

Market Infrastructure

India, UAE Sign Agreement to Interlink Payment Systems

By Editors | 09/10/2023

India will interlink the UPI with the UAE’s Instant Payments Platform. The RuPay switch and UAESWITCH card switches will also be interlinked.

Capital / Liquidity

RBI Forms Working Group to Develop ECL Framework for Banks

By Manesh Samtani | 06/10/2023

The working group will help develop design principles for banks’ credit risk models and recommend an independent validation methodology.

Enforcement

Barclays to Appeal India Whistleblower Retaliation Ruling

By Mark Johnston | 03/10/2023

Barclays is appealing an Indian court order that found it had violated its whistleblowing policy and retaliated against a former IT manager.