India

Capital / Liquidity

RBI Introduces Supervisory Action Framework for Troubled UCBs

By Editors | 09/01/2020

Under the framework, the RBI will monitor UCBs’ asset quality, profitability and capital, and initiate supervisory action when specific thresholds are breached.

Market Infrastructure

RBI Allows Banks to Offer FX Trading Beyond Market Hours

By Editors | 08/01/2020

The move is aimed at improving the ability of market participants to hedge currency risk in the onshore rupee market to boost domestic trading volumes.

Market Infrastructure

SEBI Updates Framework for System Audits of Market Infrastructures

By Editors | 08/01/2020

Stock exchanges, depositories and clearing corporations are required to include compliance with SEBI rules in the scope of their system audits, and to report any non-compliance to the regulator.

Fintech / Regtech

India’s NPCI Unveils DLT Based Platform to Further Streamline Payments

By Editors | 07/01/2020

The Vajra Platform will enhance data security and transparency, facilitate real-time transactions and reduce reconciliation challenges and processing errors, the NPCI said.

Market Infrastructure

SEBI Issues Revised Framework for Core Settlement Guarantee Fund

By Editors | 07/01/2020

If the core settlement guarantee fund is used up during a calendar month, non-defaulting members of clearing corporations shall immediately replenish the fund.

Securities / Derivatives

RBI Expands Scope of Currency Derivatives Reporting Regime

By Editors | 07/01/2020

To date, the reporting framework only required banks to report currency derivatives transactions worth over $1mn. All transactions below this threshold now have to be reported.

Market Infrastructure

RBI Names Six ‘Significant’ Financial Benchmarks

By Editors | 06/01/2020

Financial Benchmarks India Pvt Ltd has three months to make an application to the RBI for authorisation to continue administering the benchmarks.

SEBI Directs Investment Advisers to Improve Conduct

By Editors | 02/01/2020

SEBI has observed that some investment advisers have been providing advice on a ‘free trial basis’, without performing client risk profiling and product suitability assessments.

Enforcement

Indian Police Lay Charges Against Five in PMC Bank Fraud Case

By Editors | 01/01/2020

The 32,000-page charge sheet lays out charges against three executives from PMC Bank and two promoters of HDIL, which received about 67bn rupees in ‘hidden’ loans.