India

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    Fintech / Regtech

    India’s UCO Bank Calls in Federal Investigators to Probe Payments Disruption

    By Ajoy K Das | 19/11/2023

    The CBI is being called in to investigate a possible cyber-attack or manipulation of the state-owned bank’s internal systems.

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    Enforcement

    Indian Authorities Probe Aviva for Alleged Tax Evasion – Report

    By Ajoy K Das | 17/11/2023

    Inspectors from the Directorate General of GST Intelligence seized laptops from Aviva and questioned some of its top officials.

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    Capital / Liquidity

    RBI Increases Consumer Credit Risk Weights for Banks, NBFCs

    By Ajoy K Das | 17/11/2023

    Banks and NBFCs will have to set aside more capital against personal loans and credit card receivables, and tighten their credit standards.

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    India-Thailand Payments Link to be Announced “Soon” – Report

    By Ajoy K Das | 16/11/2023

    India’s ambassador to Thailand, Nagesh Singh, said negotiations have been underway and there will very soon be “good news”.

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    Enforcement

    RBI Takes First Action Against Non-Compliance With Digital Lending Guidelines

    By Ajoy K Das | 16/11/2023

    The RBI said Bajaj Finance did not issue the Key Fact Statements to borrowers as required under its digital lending guidelines issued in September 2022.

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    Securities / Derivatives

    SEBI Directs Stock Brokers to Issue Simplified Terms to Clients

    By Ajoy K Das | 16/11/2023

    Brokers forum instructed to frame standard ‘most important terms and conditions’ for new clients by 1 April and existing clients by 1 June.

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    Securities / Derivatives

    India’s AMFI Issues Guidelines for Execution-only Mutual Fund Platforms

    By Ajoy K Das | 13/11/2023

    The guidelines come ahead of an end-November deadline for platforms selling direct mutual fund schemes to register with AMFI.

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    Market Infrastructure

    Calcutta Stock Exchange Looking to Resume Operations Soon

    By Ajoy K Das | 13/11/2023

    The Calcutta Stock Exchange was forced to stop operating its equities trading platform in April 2013 due to regulatory and compliance issues.

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    Fintech / Regtech

    RBI Seeking to Explore Linkage Between UPI and Japan

    By Ajoy K Das | 12/11/2023

    RBI governor Shaktikanta Das said a fast payment linkage between India and Japan could help make cross-border payments more efficient and less costly.

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    Fintech / Regtech

    RBI Report Highlights Growing Role of Fintech in Providing Credit

    By Ajoy K Das | 09/11/2023

    Regulation needs to be quick and nimble to promote access and growth while ensuring financial stability, the report says.

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