RESERVE BANK OF INDIA

Securities / Derivatives

RBI Opens New Liquidity Facility for Mutual Funds

By Editors | 27/04/2020

The move follows Franklin Templeton’s decision to freeze and wind up six of its mutual funds amid intense redemption and liquidity pressures, prompting contagion fears across the sector.

Securities / Derivatives

SEBI Eases Mutual Fund Valuation Norms for Debt Securities

By Editors | 26/04/2020

Valuation agencies need not consider payment delays and maturity extensions resulting from Covid-19 as defaults when valuing money market and debt securities held by mutual funds.

Indian Banks Asked to Submit Lending Reports Daily

By Editors | 24/04/2020

The Finance Ministry has asked for data on the volume and scale of loans, as well as particulars on what sectors are getting them.

AML / KYC

India Moves to Prevent ‘Opportunistic Takeovers’ by Chinese Investors

By Editors | 19/04/2020

India has introduced a pre-approval requirement for all foreign investment from seven countries including China to curb “opportunistic takeovers or acquisitions” of Indian companies.

Capital / Liquidity

RBI Announces New Measures to Counter Covid-19 Disruptions

By Editors | 18/04/2020

The RBI has cut the reverse repo rate, lowered the LCR requirement, restricted dividend payouts, and established new liquidity facilities for NBFCs and microfinance institutions.

Securities / Derivatives

RBI to Open Up Rupee Derivatives for Hedging from 1 June

By Editors | 09/04/2020

Authorised dealers and can allow users to trade rupee derivatives up to USD 10 million notional value outstanding without the need to establish the existence of underlying exposures.

Enforcement

RBI to Establish New Banking Fraud Oversight Division

By Editors | 08/04/2020

The initiative has reportedly been sped up in response to recent frauds at Yes Bank and Punjab National Bank.

Market Infrastructure

RBI Reduces Market Hours to Curb Volatility

By Editors | 06/04/2020

During India’s lockdown, currency, bond and money markets will operate for only 4 hours. SEBI has also brought forward the cut-off times for the mutual fund industry.

AML / KYC

The Four e-KYC Models Around the World

By Claus Christensen | 05/04/2020

Claus Christensen at Know Your Customer Ltd identifies four e-KYC models in use across the world, but says that harmonisation and consolidation of these schemes is likely.