India

Fintech / Regtech

RBI Launches DAKSH, a New Supervisory Monitoring System

By Editors | 11/10/2022

The system will be used to monitor compliance and improve compliance culture at supervised entities such as banks and NBFCs, the RBI said.

Enforcement

SEBI Cancels Rating Agency Licence for the First Time

By Editors | 10/10/2022

Brickwork Ratings India failed to exercise proper skill, care and diligence while discharging its duties as a credit rating agency, SEBI said.

ESG / Sustainability

BSE India Receives Approval to Set Up Social Stock Exchange

By Editors | 10/10/2022

The social stock exchange will allow direct listings from non-profit organisations and for-profit social enterprises.

Crypto / Digital Assets

RBI Set to Commence Limited Pilot Launch of CBDC

By Editors | 09/10/2022

To avoid the disintermediation of banks, which would impede credit creation, the RBI suggested the CBDC would likely be non-interest bearing.

RBI Directs CICs to Appoint Internal Ombudsman by April 2023

By Editors | 08/10/2022

Clients of regulated entities will have a free alternative dispute resolution for grievances against credit information companies.

Fintech / Regtech

NPCI Signs MOU to Enable UPI Payments in Oman

By Editors | 05/10/2022

NPCI and Oman’s central bank will study the possibility of connecting the UPI and RuPay card systems used in India with similar systems in Oman.

Securities / Derivatives

SEBI Extends 2FA Requirement to Fund Subscription Transactions

By Editors | 05/10/2022

AMCs are already required to authenticate mutual fund redemption transactions. The requirement is being extended to include subscription transactions.

Capital / Liquidity

RBI Categorises 16 Large NBFCs in Upper Layer

By Editors | 04/10/2022

The NBFCs are directed to put in place a board approved policy for adoption of the RBI’s enhanced regulatory framework for NBFCs within 24 months.

Securities / Derivatives

SEBI to Amend IPO Framework, Introduce Bond Platform Rules

By Editors | 04/10/2022

At its board meeting, SEBI also decided to allow net settlement between the cash and derivatives segments, which will enable netting benefits and reduce margins.