India

SEBI Standardises Rating Scales Used in Issuer & Credit Ratings

By Editors | 01/11/2022

Standardised symbols, definitions and descriptors have been devised for issuer ratings and corporate credit ratings, following consultation with CRAs.

Crypto / Digital Assets

RBI Starts Testing CBDC in G-Sec Trade Settlement

By Editors | 01/11/2022

The RBI will also commence testing of a retail CBDC “within a month” in select locations in “closed user groups comprising customers and merchants”.

Market Infrastructure

ESMA to Withdraw Recognition of Six Indian CCPs

By Editors | 01/11/2022

EMIR conditions for recognition are not met because no cooperation arrangements have been concluded between ESMA and the relevant Indian authorities.

Market Infrastructure

BSE India Launches Trading in Electronic Gold Receipts

By Editors | 27/10/2022

Individual investors as well as commercial participants like importers, banks, refiners, and jewellery manufacturers can participate.

Fintech / Regtech

GIFT City, Japan Fintech Body to Cooperate on Innovation

By Editors | 27/10/2022

GIFT City and the Fintech Association of Japan plan to launch a fintech accelerator and other entrepreneurial programmes.

AML / KYC

RBI Grants First Vostro Approvals to Russian Banks

By Editors | 26/10/2022

Sberbank and VTB Bank have been granted approval to open vostro accounts in India to settle rupee trade transactions.

Securities / Derivatives

SEBI Permits Stockbrokers to Place Client Bids on RFQ Platforms

By Editors | 25/10/2022

Stockbrokers will be allowed to place bids on stock exchanges’ RFQ platforms on behalf of clients from 1 January 2023.

Capital / Liquidity

India: ISDA Requests Details on CCIL’s Proposed UMR Services

By Editors | 24/10/2022

ISDA has responded to CCIL proposals to create a margining and collateral service for non-centrally cleared OTC derivatives trades in India.

Fintech / Regtech

RBI Consults on New Master Directions on IT Governance

By Sanday Chongo Kabange | 23/10/2022

Regulated entities will have to obtain source code from vendors for critical applications or ensure a software escrow agreement is in place.