IFSC codes shall be used only for cross border remittances to IBUs in GIFT City, not in domestic payment systems.
A meeting with banks and payments firms was convened by federal authorities in the wake of recent disruptions at Uco Bank and Bank of Baroda
SEBI will implement same day settlement in equities trading by March 2024, and optional instantaneous settlement a year later.
The regulator has proposed revising its insider trading regulations to make it easier for senior management to trade in company shares.
SEBI approved a number of proposals at its board meeting on Saturday, including measures to provide NPOs greater fund raising flexibility.
Minimum investment thresholds applicable to venture capital schemes, restricted schemes, and portfolio management services would not apply to accredited investors.
RBI governor Shaktikanta Das said concentrated linkages between banks, NBFCs and fintechs may create a contagion risk.
India's MicroFinance Institutions Network has asked the RBI to intervene to ensure fintech lenders comply with microfinance regulations.
The platform will enable investors to continue to manage their portfolios even during unexpected technical glitches.
The RBI is considering options for linking penalties to the size of regulated entities, as well as clawing back executive remuneration.