India

Market Infrastructure

SGX Selects Tata Consultancy Services to Power GIFT Connect

By Editors | 17/03/2022

The GIFT Connect system will permit SGX members to place orders on NSE IFSC using FIX/proprietary APIs or the TCS BaNCS dealing terminal.

Enforcement

RBI Lifts Restrictions on Digital Product Launches at HDFC

By Editors | 16/03/2022

The restrictions were imposed in 2020 in response to multiple digital outages that impacted customers. HDFC is India’s largest private bank.

Fintech / Regtech

RBI Launches New Services to Drive Digital Payments Adoption

By Editors | 15/03/2022

UPI-based instant payments can be enabled on some 400 million feature phones in India that do not have an internet connection.

Enforcement

SEBI Seizes Records from Market Manipulators in 4 States

By Editors | 14/03/2022

Individuals and entities were operating Telegram channels to encourage investors to deal in listed stocks, thereby creating “artificial volume and price rise”.

Securities / Derivatives

SEBI Raises Limit for Debt Investments via UPI Mechanism

By Editors | 11/03/2022

The limit for investments in debt securities via the UPI mechanism is being increased from INR 200,000 to INR 500,000, effective 1 May 2022.

Enforcement

Indian Police Arrest Former NSE Head Chitra Ramkrishna

By Sanday Chongo Kabange | 07/03/2022

The CBI said evidence shows that Ramkrishna engaged in a conspiracy with another executive, after she coerced NSE’s HR department to hire him.

Securities / Derivatives

SEBI Extends Timeline for Brokers to Segregate Client Collateral

By Editors | 07/03/2022

The implementation timeline for the new framework on client collateral segregation and monitoring has been extended to 2 May 2022.

Securities / Derivatives

SEBI to Allow FPIs to Access Commodities Derivatives Market

By Editors | 03/03/2022

SEBI proposes to scrap rules that require foreign investors to have actual commodity exposure to participate in the exchange-traded commodity derivatives market.

Fintech / Regtech

India’s ASCI Issues Advertising Guidelines for Crypto Products

By Mark Johnston | 03/03/2022

All virtual asset-related ads released on or after 1 April must carry a disclaimer; Certain words associated with regulated products are will be prohibited.