India

AML / KYC

FATF Calls on India to Enhance Scrutiny of Domestic PEPs – Report

By Ajoy K Das | 12/08/2024

The FATF calls for tighter account opening scrutiny for domestic PEPs and their families, and more rigorous monitoring of their bank accounts.

Fintech / Regtech

India NPCI Signs MoU to Introduce UPI to Maldives

By Ajoy K Das | 12/08/2024

A key component of the agreement is ensuring payment system interoperability to enable cross-border transactions and strengthen global connectivity for Maldives.

Securities / Derivatives

SEBI Outlines Work Priorities for 2024-2025 Fiscal Year

By Ajoy K Das | 10/08/2024

SEBI’s work plan includes the planned establishment of two new institutions for data benchmarking and performance validation.

Securities / Derivatives

SEBI Proposes Enhanced Reporting Requirements for Foreign VC Firms

By Ajoy K Das | 10/08/2024

Foreign venture capital investors will have to provide SEBI with granular breakdowns of investments by type and industry sector.

Crypto / Digital Assets

India Has “No Proposal” to Regulate Crypto Beyond Tax, AML

By Ajoy K Das | 09/08/2024

MOF official told Parliament the government will coordinate with global standard-setting bodies before considering any measures domestically.

RBI Shortens Frequency of Credit Reporting to 15 Days

By Ajoy K Das | 08/08/2024

Contraventions by credit information companies and credit institutions to attract penal action The Reserve Bank of India (RBI) has issued […]

Securities / Derivatives

SEBI to Revamp Rules for Investment Advisors, Research Analysts

By Ajoy K Das | 08/08/2024

Eligibility requirements for registration are being relaxed. Additional disclosure will be required for IAs/RAs that use AI tools.

Securities / Derivatives

RBI Asks Banks to Refrain from Large Bets Against Rupee – Report

By Ajoy K Das | 08/08/2024

RBI officials asked banks to “consider the existing position size the risk limit”, indicating it did not want them to add to existing bets against the rupee.

AML / KYC

India ED Has Pursued Over 5,000 ML Cases Since 2014

By Ajoy K Das | 08/08/2024

Minister of State for Home Affairs Nityanand Rai said 40 convictions have been secured under the the Prevention of Money Laundering Act.