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Market Infrastructure
India to Quadruple Digital Transactions in Three Years – RBI
By Editors | 17/05/2019
In its three year roadmap for India’s payment and settlement systems, the RBI says it expects the number of digital transactions in the country to increase to 87 billion by December 2021.
Market Infrastructure
SWIFT Responds to India Cyber Threat With New Paper
By Editors | 13/05/2019
SWIFT has published a new paper to help financial institutions in India improve their monitoring of anomalous and potentially fraudulent transactions.
Enforcement
RBI Fines Multiple Payment Service Providers
By Editors | 06/05/2019
The RBI has fined prepaid payment instrument issuers, two US money transfer firms and Yes Bank for non-compliance with regulatory guidelines.
Capital / Liquidity
RBI Must Disclose Bank Inspection Reports – Supreme Court
By Editors | 03/05/2019
The RBI has been ordered by the India’s highest court to disclose its annual banking inspection report, which contains sensitive commercial information of banks.
Securities / Derivatives
India Opens Foreign Investor Access to Municipal Bonds Market
By Editors | 29/04/2019
The RBI has extended the 2% cap on foreign investment in state development loans to also be allocated to municipal bonds.
Market Infrastructure
RBI Extends LEI Deadlines for Non-Derivative Market Participants
By Editors | 29/04/2019
Participants in government securities, money markets and non-derivative forex markets will have until the end of this year to obtain LEIs.
Market Infrastructure
China, Indonesia, India Slow to Finalise Close-Out Netting Reforms
By Garima Chitkara | 24/04/2019
In its April quarterly round-up, ISDA detailed efforts in the three jurisdictions to ensure legal certainty on close-out netting, seen to be a critical issue for derivatives market development.
Crypto / Digital Assets
RBI Unveils Draft Framework for Regulatory Sandbox
By Editors | 19/04/2019
The framework details a comprehensive selection process to identify 10-12 entities to participate in the sandbox, including a 5 million rupee minimum net worth requirement.
Enforcement
Deloitte Indian Unit Under Investigation in IL&FS Case
By Editors | 16/04/2019
A letter from a whistleblower at Deloitte’s local India unit has triggered a malpractice investigation into its role as auditor for the troubled IL&FS group.
Fintech / Regtech
India to Strengthen Digital Payments with Blockchain
By Editors | 15/04/2019
The National Payments Corporation of India is soliciting interested partners to build a blockchain-powered digital payments platform for the country.
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