India

Concerned about the concentration risk posed by the NPCI, the central bank has proposed relaxing some requirements for new firms looking to operate payment systems in India.

Brokers say SEBI's new margining norms increase the cost of trading without any real reduction in risk and will result in "unprecedented damage" to India's equity derivatives market.

SEBI's proposal seeks to allow SMEs, mutual funds, insurance companies and institutional investors to trade in commodity index futures.

Eligible domestic borrowers can borrow up to $750mn per year in foreign currency or rupees from any entity in a country which is FATF or IOSCO compliant.

The Reserve Bank of India plans to provide guidance rules to bank boards on setting CEO remuneration, based on certain performance-related metrics.

SEBI plans to mandate that data on Indian customers be stored on local servers, or for a real-time backup to be created to enable access from within the country.

NSE chairman Ashok Chawla was named in a charge sheet related to a bribery case involving telecom operator Aircel and its Malaysian investor Maxis.

The ₹30mn penalty is based on deficiencies in regulatory compliance related to 'fit and proper’ requirements for bank directors.

Mutual funds and asset management companies must develop a cybersecurity policy document approved and regularly reviewed by their boards and trustees.

The RBI has announced the final tranche of the capital conservation buffer will be applicable from 31 March 2020 instead of 31 March 2019.