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Market Infrastructure
India Passes Bill to Establish Unified Regulator for IFSCs
By Editors | 17/12/2019
In addition to regulating Gift City, the new authority will be responsible for any other international financial services centre set up in India in the future.
Securities / Derivatives
NSE Launches Interest Rate Options on 10-Yr Govt Bond
By Editors | 11/12/2019
Interest rate options on 10 year government bonds provide institutional investors a new tool to hedge interest rate risk.
Market Infrastructure
RBI to Make NEFT System Available 24×7
By Editors | 11/12/2019
From 16 December, the NEFT system will be available on a 24/7 basis, including on holidays with batch settlement every half hour.
Enforcement
SEBI Bans Fidelity Trader and Family Members for Front-Running
By Editors | 10/12/2019
The trader used non-public information to front-run impending trades of Fidelity Group entities with his mother and sister’s trading accounts from Hong Kong.
Securities / Derivatives
RBI Relaxes Restriction on Foreign Exchange Hedging
By Editors | 10/12/2019
Residents and non-residents will be allowed to undertake OTC currency derivative transactions up to $10mn without having to evidence underlying exposure.
Market Infrastructure
ESMA Recognises India’s MCX Clearing Corp as Third Country CCP
By Editors | 09/12/2019
The recognition allows European participants to apply lower risk weights on their exposures to MCX CCL, which will translate to lower capital requirements.
Securities / Derivatives
SEBI Proposes Mandatory Benchmarking of Alternative Investment Funds
By Editors | 09/12/2019
Alternative investment funds with at least a three-year track record will have to be benchmarked against industry peers and their performance disclosed to investors.
Capital / Liquidity
India Finalises ‘On-Tap’ Licensing Regime for Small Finance Banks
By Editors | 06/12/2019
India’s central bank has issued its final guidelines for ‘on-tap’ licensing of small finance banks, doubling the minimum capital requirement to 2 billion rupees.
AML / KYC
India’s Cabinet Approves Personal Data Protection Bill
By Editors | 06/12/2019
Under the bill, major violations of data privacy norms can be penalised with jail terms, or monetary fines up to 150 million rupees or 4% of a company’s worldwide turnover, whichever is higher.
Enforcement
Major Indian Bourses Suspend Karvy Trading Licences
By Editors | 04/12/2019
BSE, NSE, MCX, MSEI suspend Karvy Stock Broking; NSDL returns to 90% of clients the securities that were illegally pledged at lenders by Karvy.
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