India

Capital / Liquidity

RBI Warns of Deteriorating Asset Quality, Capital Buffers

By Editors | 14/01/2021

Stress tests indicate 4 banks may fail to meet minimum capital requirements by September 2021 under the baseline scenario.

Fintech / Regtech

RBI to Explore New Regulatory Approach to Digital Lenders

By Editors | 14/01/2021

A new working group has been formed to study the risks of digital lending activities and recommend regulatory changes to enhance consumer protection and data security.

Market Infrastructure

SEBI Proposes to Ease Stock Exchange Ownership Norms

By Editors | 12/01/2021

Domestic promoters will be allowed to own 100% of a newly set-up stock exchange or depository for up to 10 years. Foreign promoters will be allowed to own up to 49%.

Market Infrastructure

RBI Directs Banks to Enhance Internal Audit Function

By Editors | 12/01/2021

Banks are encouraged to adopt the international standards for internal audit, such as those issued by the BCBS or the Institute of Internal Auditors.

AML / KYC

RBI Mandates LEI Use for Large Payments via RTGS, NEFT

By Manesh Samtani | 06/01/2021

From 1 April 2021, all non-individual bank customers initiating or receiving transactions over 500m rupees via the RTGS or NEFT systems will need an LEI.

Securities / Derivatives

India: IFSCA Becomes IOSCO Associate Member

By Editors | 06/01/2021

The IFSCA was established in April 2020 as a unified authority to regulate all financial services in Gift City, India’s international financial services centre.

Enforcement

SEBI Fines Reliance Industries, Mukesh Ambani for Manipulative Trading

By Editors | 05/01/2021

Reliance Industries entered into an arrangement with 12 agents to corner Reliance Petroleum futures and earn undue profits, SEBI said.

AML / KYC

RBI Announces Extension of KYC Registry to Legal Entities

By Editors | 22/12/2020

The RBI said regulated entities should upload KYC data pertaining to accounts of legal entities to the Central KYC Registry from 1 April 2021.

Fintech / Regtech

RBI Invites Firms to Test Cross-border Payments Tech in Sandbox

By Editors | 21/12/2020

The RBI has reduced the net worth requirement of participating firms and said it will allow partnerships and LLPs to participate.