India

Securities / Derivatives

RBI Clarifies Norms for Investment in AIFs by Banks, NBFCs

By Ajoy K Das | 29/03/2024

The RBI said the provisioning requirement only applies to the amount invested in debtor companies and not the entire AIF investment.

Securities / Derivatives

SEBI Suspects Mis-selling of Mutual Fund Products

By Ajoy K Das | 27/03/2024

SEBI is assessing whether AMCs sold long-duration and small cap funds to senior citizens without them properly understanding the risks.

Securities / Derivatives

SEBI Directs AMCs to Stop Channelling Funds into Overseas ETFs

By Ajoy K Das | 26/03/2024

AMCs have to stop accepting money from investors to invest in overseas ETFs as an existing $1bn investment limit is close to being breached.

Fintech / Regtech

India to Begin Work on Interoperable Online Banking Payments

By Ajoy K Das | 26/03/2024

NBBL, large banks and fintechs in talks to start work on the new platform next month.

Market Infrastructure

RBI Finalises New Framework for SROs of Regulated Entities

By Ajoy K Das | 26/03/2024

The RBI will start receiving applications from entities seeking to gain recognition as self-regulatory organisations for each regulated entity sector.

Enforcement

RBI to Conduct Audits of IIFL Finance, JM Financial Products

By Ajoy K Das | 25/03/2024

The RBI is looking to conduct special audits of IIFL Finance and JM Financial Products, which were both hit with business restrictions earlier this month.

AML / KYC

Crypto Firm OKX to Cease Services in India, Citing Regulations

By Ajoy K Das | 25/03/2024

OKX said it will cease operations in the country due to “local regulations directed at offshore exchanges that make CeFi trading available in India”.

Sanctions

India Stops Accepting Oil from Sanctioned Russian Vessels

By Editors | 22/03/2024

Private and state-run refiners in India have stopped accepting cargoes from vessels owned by Sovcomflot, which was sanctioned by the US last month.

Securities / Derivatives

SEBI to Launch “Beta” Version of T+0 Settlement System on 28 March

By Ajoy K Das | 22/03/2024

The new optional same-day settlement cycle for equities will be tested with a “limited set of 25 scrips” and a “limited number of brokers”.