The move comes as the country’s securities regulator has extended its timeline to make all retail applications for public equity issues to be paid exclusively using digital payment application, UPI.
Under the new guidelines, banks from non-BIS countries are eligible for FPI licences, and foreign firms can directly invest in India on behalf of their clients.
Initially, mobile payment services, offline payment solutions, and contactless payments will be considered for inclusion in the regulatory sandbox.
Intermediaries and mutual fund distributors are not allowed to store investors’ Aadhaar numbers “under any circumstances”.
The guidelines impose minimum LCR requirements on larger NBFCs from December 2020 and additionally seek to enhance early detection of liquidity risks in the sector.
Executive compensation should be at least 50% variable, and at least 60% of the variable pay must be deferred for at least three years, subject to malus/clawback arrangements.
SEBI has directed listed banks to disclose any divergences in bad loan provisioning immediately, rather than waiting to publish the information in their annual financial statements.
The RBI has integrated all its supervision functions into a unified 'Department of Supervision', and its regulatory functions into a unified 'Department of Regulation'.
The higher margins apply to stocks with a higher levels of promoter pledges, market cap, trader concentration and volatility.
SEBI and the US SEC are probing Infosys after whistleblowers alleged costs were under-reported to inflate profits and "critical information" was hidden from auditors and the board.