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Fintech / Regtech
RBI Caps Lenders’ Exposures to P2P Platform Borrowers
By Editors | 28/12/2019
The RBI has set a 5mn rupee cap on the aggregate exposure a lender can have to borrowers on P2P lending platforms, and a 1mn rupee cap for lenders with a net worth under 5mn rupees.
Market Infrastructure
RBI Allows IFSC Banks to Open Foreign Currency Current Accounts
By Editors | 26/12/2019
IFSC Banking Units will be allowed to open foreign currency current accounts for entities operating in Gift City, including non-resident institutional investors and corporate borrowers.
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.
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.
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.
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.
India’s DHFL to Undergo NCLT Bankruptcy Proceedings
By Editors | 03/12/2019
The National Company Law Tribunal has allowed the RBI to start insolvency proceedings against the troubled mortgage lender Dewan Housing Finance Limited under the new bankruptcy rules for financial firms.
Securities / Derivatives
Indian Exchanges Issue New Framework for Listing Commercial Paper
By Editors | 28/11/2019
The listing framework for commercial papers will lead to more transparency, a better disclosure regime and greater investor protection.
Securities / Derivatives
SEBI Requires Listed Companies to Disclose Defaults Within 24 Hours
By Editors | 22/11/2019
Effective from 1 January, once a listed company falls 30 days behind on loan repayment it will have 24 hours to disclose the default, even before it is classified as an NPA by the lender.
Capital / Liquidity
India to Increase Deposit Insurance Limit – Reports
By Editors | 20/11/2019
India’s finance ministry plans to increase the deposit guarantee limit to protect consumers against bank failures.
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