India

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    Russia’s Sberbank Secures FPI Registration in India

    By Editors | 18/10/2023

    State-owned Sberbank is the first Russian bank to secure Category I FPI registration in India. VTB is also seeking the licence.

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    AML / KYC

    SEBI Revises AML Guidelines for Securities Market Intermediaries

    By Mark Johnston | 13/10/2023

    The revisions lower the shareholding threshold for partners of a firm to be considered as beneficial owners from 15 to 10 percent, among other changes.

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    AML / KYC

    Bank of Baroda Ordered to Halt Mobile App Onboarding

    By Editors | 13/10/2023

    The action comes after it was reported in July that some bank employees onboarded fake customers to meet sign-up targets.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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