India

Capital / Liquidity

RBI Mulls Tighter Limits on Bank Investment in Insurance Companies

By Ranamita Chakraborty | 06/03/2021

An RBI working group has previously recommended limiting banks to a 20 percent stage in insurers, down from 50 percent currently.

Market Infrastructure

NSE, INX, MCX to Jointly Set Up New GIFT City Bullion Exchange

By Editors | 04/03/2021

NSE, India INX, MCX, NSDL and CDSL have agreed to set up a bullion exchange, clearing corporation and depository at GIFT City.

AML / KYC

SEBI Consults on Creation of Accredited Investor Class

By Ranamita Chakraborty | 04/03/2021

SEBI says the new investor classification can help it to focus its regulatory resources on investors that need more protection and facilitate innovation in the securities market.

Securities / Derivatives

SEBI Drafts New Rules for Independent Directors of Listed Companies

By Editors | 02/03/2021

SEBI proposes to introduce a ‘dual approval’ system where appointments of independent directors must be approved by both majority and minority shareholders.

AML / KYC

UK Court Clears Extradition of Nirav Modi to India

By Ranamita Chakraborty | 02/03/2021

Indian diamond billionaire Nirav Modi has been a key suspect in the $2bn fraud at Punjab National Bank, which was first reported three years ago.

ESG / Sustainability

SEBI to Issue ESG Disclosure Guidelines for Listed Companies

By Editors | 02/03/2021

Chairman Ajay Tyagi said SEBI will issue new guidelines “soon”, with a view to achieving greater transparency and accountability from listed companies on ESG.

Securities / Derivatives

RBI Eases Foreign Investor Access to Defaulted Bonds

By Editors | 01/03/2021

The RBI says FPIs will be exempt from the residual maturity requirement, investment limit and investor limit when investing in defaulted corporate bonds.

India Allows Private Banks to Conduct Government Business

By Editors | 28/02/2021

Since 2012, payments for tax, pensions and other government business have largely been channelled through public sector banks.

Capital / Liquidity

RBI Exempts Foreign Sovereign Exposure from LEX Framework

By Editors | 27/02/2021

Exposures to foreign sovereigns or their central banks that are subject to a zero percent risk weight will be exempted from the large exposures framework.