RESERVE BANK OF INDIA

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    Fintech / Regtech

    Indian Banks Delayed in Joining Bharat Bill Pay System

    By Ajoy K Das | 21/06/2024

    Several major banks have not yet gone live on the BBPS despite a 30 June deadline for credit card payments to be processed on the interface.

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    Securities / Derivatives

    SEBI Extends Ban on JM Financial to One Year

    By Ajoy K Das | 21/06/2024

    SEBI initially barred JM Financial in March from acting as lead manager for any new public issue of debt for 60 days. The ban is extended until 31 March 2025.

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    Fintech / Regtech

    RBI Invites Applications for Recognition as NBFC Sector SROs

    By Ajoy K Das | 20/06/2024

    SROs will be expected to develop standards for NBFCs, implement suitable surveillance, and share sectoral information with the RBI.

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    Securities / Derivatives

    SEBI Mulls Measures to Contain Derivatives Trading Risks

    By Ajoy K Das | 19/06/2024

    SEBI is considering raising options margin requirements, enhancing disclosures, and changing brokers’ fee structures, among other measures.

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    RBI Allows Banks to Give Importers Extra Operational Flexibility

    By Ajoy K Das | 13/06/2024

    Banks maintaining special rupee vostro accounts are permitted to open an “additional special current account” for importers.

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    Fintech / Regtech

    RBI Announces Launch of Global Anti-Fraud Hackathon

    By Ajoy K Das | 12/06/2024

    The RBI is inviting innovations and solutions on real time prediction, detection and prevention of fraud in financial transactions.

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    Securities / Derivatives

    RBI Relaxes Rules on Investment in Overseas Funds

    By Ajoy K Das | 11/06/2024

    The amendments allow investment in funds whose managers are regulated, rather than the fund itself, such as in Singapore and the US.

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    Fintech / Regtech

    India, Peru Sign Agreement to Develop Instant Payments

    By Ajoy K Das | 10/06/2024

    NPCI’s international arm signed an agreement with Peru’s central bank to develop a fast payment system similar to India’s UPI.

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    Fintech / Regtech

    RBI to Set Up Digital Platform to Minimise Payment Fraud

    By Ajoy K Das | 10/06/2024

    The RBI said the platform will allow “network level intelligence and real-time data sharing across the digital payments’ ecosystem”.

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    Market Infrastructure

    India to Allow Non-residents to Open Rupee Accounts

    By Ajoy K Das | 05/06/2024

    Indian banks will also be able to lend to non-residents in INR, as part of measures to internationalise the domestic currency.

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