India

Enforcement

SEBI Probes Nippon Mutual Fund, Yes Bank Transactions – Report

By Editors | 20/01/2023

SEBI is investigating whether investments in Yes Bank perpetual bonds were made as part of a special deal to benefit Ambani Group companies.

India Proposes Changes to Insolvency and Bankruptcy Code

By Editors | 19/01/2023

The simplified process currently available to small firms under the IBC will be expanded to some larger firms, among other changes.

Market Infrastructure

India Considers Law to Curb Unfair Practices by Big Tech

By Mark Johnston | 18/01/2023

The proposal would aim to prevent anti-competitive behaviour by dominant online platforms, similar to the EU’s Digital Markets Act.

Securities / Derivatives

SEBI Proposes to Allow PE Funds to Sponsor Mutual Funds

By Editors | 18/01/2023

The changes will draw fresh capital into the fund industry, encourage more competition, and allow easier exits for existing sponsors.

Capital / Liquidity

RBI Tightens Rules on Ownership of Bank Shares

By Mark Johnston | 17/01/2023

The rules are intended to ensure control and ownership stay “well-diversified” and major shareholders are ‘fit and proper’.

Fintech / Regtech

Non-Resident Indians Allowed to Make UPI Transfers

By Editors | 17/01/2023

NPCI said NRIs in ten jurisdictions can use the UPI platform to digitally transfer funds, using their international mobile numbers.

Securities / Derivatives

India to Complete Transition to T+1 on 27 January

By Editors | 17/01/2023

All large-cap and blue-chip stocks will move to the shortened T+1 settlement cycle on 27 January. Market liquidity and trading volumes are expected to improve.

Capital / Liquidity

RBI Proposes to Adopt ECL Approach for Loan Provisioning

By Manesh Samtani | 17/01/2023

Indian banks currently still use the incurred loss model, which the RBI says delays NPA identification, loan reclassification, and provisioning.

Market Infrastructure

SEBI Issues New Standards for Handling Stock Exchange Outages

By Sanday Chongo Kabange | 15/01/2023

Outages must be reported within 15 minutes. Updates must be provided every 45 minutes. Trading hours can be automatically extended for other exchanges.