India

Capital / Liquidity

SEBI Approves Sale of Private Listed InvITs

By Ranamita Chakraborty | 04/08/2023

Existing shareholders of private listed Infrastructure Investment Trusts (InvITs) can now sell their units to the public through a stock exchange mechanism.

Sanctions

RBI Approves 34 Russian Vostro Accounts at Indian Banks

By Editors | 03/08/2023

Special Rupee Vostro Accounts were opened by Russian banks at 14 Indian commercial banks, based on guidelines issued by the RBI in July 2022.

AML / KYC

SEBI Proposes Revising Account Aggregator Framework to Prevent Fraud

By Ranamita Chakraborty | 03/08/2023

Securities and Exchange Board of India (SEBI) found that certain consumers are sharing confidential information with third parties and providing financial data to unauthorised entities.

Enforcement

RBI Fines State-run Energy Firms for Reporting Foreign Investments Late

By Editors | 02/08/2023

The RBI fined the four companies a combined $240mn for their delay in reporting overseas investments.

Capital / Liquidity

Indian Banks Preemptively Preparing for Shift to ECL Model

By Editors | 01/08/2023

Some Indian banks are setting aside fresh provisions in anticipation of the planned implementation of the Expected Credit Loss framework.

Market Infrastructure

UPDATED – SEBI Directs MIIs to Establish Common Dispute Resolution Platform

By Sanday Chongo Kabange | 01/08/2023

Disputes between investors or clients and listed companies or any specified intermediaries or regulated entities in the securities market will be resolved through the proposed new platform.

AML / KYC

India Supreme Court Criticises Government for Not Addressing Crypto Crime

By Editors | 01/08/2023

India’s Supreme Court asked the government whether it can establish a “national specialised agency” to investigate crypto-related crimes.

Securities / Derivatives

NSE India Considers Extending Trading Hours

By Editors | 31/07/2023

NSE is considering extending trading hours to make it more convenient for office-goers to trade in the evening.

Capital / Liquidity

India to Allow Overseas Listings by Domestic Firms, Starting in GIFT City

By Editors | 31/07/2023

India will permit companies to list directly on GIFT City exchanges, and later, in other specified overseas jurisdictions.