India

Fintech / Regtech

India Issues Regulatory Framework for GIFT City Payment Services

By Ajoy K Das | 06/02/2024

The regulations cover account issuance, e-money issuance, escrow, cross-border money transfer and merchant acquisition services.

Securities / Derivatives

SEBI Proposes to Allow AIFs to Pledge Equity Shares

By Ajoy K Das | 06/02/2024

Consultation proposes to allow Category I and II AIFs to create encumbrances on equity holdings in infrastructure sector companies.

Securities / Derivatives

SEBI Considers Scrapping Security Deposit Required of Issuers

By Ajoy K Das | 05/02/2024

An expert committee has recommended abolishing the requirement for equity issuers to keep a security deposit with the stock exchange.

AML / KYC

Telecom Breach Exposes Personal Information of 750 Million Indians

By Ajoy K Das | 05/02/2024

Billed as biggest ever leak of its kind, the breach has exposed names, mobile phone numbers, addresses and Aadhaar card numbers.

Fintech / Regtech

RBI Issues Directive on Streamlining Internal Compliance Monitoring

By Ajoy K Das | 01/02/2024

A review found that internal compliance monitoring is still carried out with “significant manual intervention”.

Securities / Derivatives

India’s IFSCA Issues Eligibility Criteria for Accredited Investors

By Ajoy K Das | 30/01/2024

The GIFT City regulator has specified criteria for individuals, sole proprietorships and other investment entities who can be deemed accredited investors.

Securities / Derivatives

SEBI Extends Deadline for Market Rumour Verification Rule

By Ajoy K Das | 29/01/2024

The regulator said the extension was necessary to finalise industry standards and implement certain legal amendments.

AML / KYC

India Gives Offshore Funds Time to Disclose Investors

By Mark Johnston | 26/01/2024

SEBI is reportedly allowing offshore funds seven months to disclose the identities of their investors before they are forced to liquidate their holdings.

Securities / Derivatives

SEBI to Allow Stock Exchange Mechanism for Share Sales to Employees

By Ajoy K Das | 25/01/2024

The new framework for OFS transactions to company employees is expected to cut costs and time of issuance.