India

RBI, SEBI and the Indian government assured markets they will step in to fill any NBFC liquidity gaps after a recent default by an infrastructure financing firm.

The latest circular allows Indians living overseas to hold only a non-controlling stake in an FPI entity, but permits them to fully control the investment manager in charge of its assets.

SEBI should mandate settlement of HNI trades through custodians to de-risk and expand India's capital markets, says Viraj Kulkarni at PIVOT Management Consulting.

The agreement seeks to create a dual listing mechanism for masala and foreign-currency bonds issued by Indian companies.

Foreign investors with direct exposure to commodities can trade commodity derivatives in India. BSE and NSE to start offering commodity derivatives from 1 October.

The new caps link total expense ratios to assets under management, in a bid to pass on the benefits of scale to investors and improve transparency in the industry.

India has begun the process to merge Dena Bank, Vijaya Bank and Bank of Baroda in a bid to support their weak balance sheets and consolidate the state-run banking sector.

SEBI may be going back on new rules restricting non-resident Indians and persons of Indian origin from investing in India via the FPI route.

Apple shares concerns over data localisation with Mastercard, Visa, Amazon, WhatsApp and PayPal, but Google will be ready to comply by December.

Union Bank of India, Bank of India and Bank of Maharashtra are each fined 10 million rupees.