India

India’s diamond billionaire, Nirav Modi, has been arrested in London for his alleged role in a $2bn fraud at Punjab National Bank reported last year.

SEBI's consultation paper seeks feedback on the issuance of dual class shares by companies already listed in India and those that may be in future.

Following a string of penalties against banks last month, the RBI has asked banks to improve their monitoring of the origin and end use of loan funds.

The Metropolitan Clearing Corporation of India is the first Indian clearing corporation to receive recognition from under the UK's temporary recognition regime.

The deferment means Singapore Exchange will be able to continue offering SGX Nifty products until a long term solution is agreed.

SBI, ICICI Bank and HDFC Bank will remain India's D-SIBs this year. The additional CET1 capital they need to hold will rise in April.

The new rules against market abuse cover market and benchmark manipulation and the misuse of information in markets regulated by the RBI.

In response to market feedback, SEBI has dropped the 20% cap on foreign portfolio investors' investment in corporate bonds.

Global asset managers have opposed SEBI’s plan to create a centralised database of beneficial owners of foreign portfolio investors.

The number of banks fined by the RBI for failing to integrate their core banking systems with SWIFT has now risen to 36, with fines totaling $10.16mn.