India

Market Infrastructure

India’s NSE Signs Post-Trade Technology Sharing Pact With Nasdaq

By Garima Chitkara | 04/07/2018

The National Stock Exchange will replace its current post trade platform for all asset classes with Nasdaq’s real-time clearing, risk management and settlement technology, among other cooperative agreements.

Securities / Derivatives

India to Accept AAA-rated Sovereign Securities as Collateral

By Manesh Samtani | 03/07/2018

Clearing arm of BSE’s India INX at GIFT City will accept AAA-rated international sovereign securities with maturities over 5 years as collateral from clearing members and custodians, starting with US treasuries.

Capital / Liquidity

India’s IDBI Bank to Receive Lifeline from State-run Insurer

By Garima Chitkara | 02/07/2018

India’s insurance regulator has approved the acquisition of a 51% stake in IDBI Bank by Life Insurance Corp, in a deal worth $1.9bn; The bank had more than a quarter of its loan book marked as non-performing at March 2018.

Enforcement

India Cracks Down on Bank Auditors

By Garima Chitkara | 02/07/2018

RBI has introduced a framework to define lapses in bank auditor conduct and reporting as well as enforcement action to be taken as a result of such lapses.

Capital / Liquidity

RBI Report Paints Gloomy Picture for India’s Banking Sector

By Manesh Samtani | 02/07/2018

Stress tests indicate NPA ratios at Indian banks to fall to lowest level since year 2000; Public sector banks to be hit the hardest, with six expected to experience capital shortfall.

Securities / Derivatives

India Mulls Allowing Mutual Funds in Commodities Derivatives – Report

By Garima Chitkara | 28/06/2018

Market regulator SEBI discussing whether to allow retail investors to participate in commodity derivatives through mutual funds; may also allow derivatives based on commodity indices.

Crypto / Digital Assets

India Reverses Stance on Cryptocurrency?

By Emma Zhou | 27/06/2018

India official says the government will release new cryptocurrency regulatory framework next month; Supreme Court brings forward hearings on petitions challenging earlier RBI ban.

Market Infrastructure

RBI Directs Banks to Upgrade Security Amid Rising ATM Fraud

By Manesh Samtani | 26/06/2018

Banks instruct banks and white-label ATM operators to upgrade ATM security in a phased manner until June 2019, threatening enforcement action for noncompliance.

Market Infrastructure

India Proposes LEI Rules For All Financial Transactions

By Garima Chitkara | 25/06/2018

RBI releases draft rules which would require the use of LEIs for non-derivatives transactions, having already announced a phasing in for OTC derivatives markets.