India

The CRO must function independently, with no other responsibility or 'dual hatting', and report directly to the MD, CEO, or risk management committee of the board.

India’s National Stock Exchange has fined 250 firms for non-compliance with its listing obligations and disclosure requirements.

In its three year roadmap for India's payment and settlement systems, the RBI says it expects the number of digital transactions in the country to increase to 87 billion by December 2021.

The recognition gives India ICC QCCP status across the European Union. QCCP members are subjected to lower capital requirements/charges under Basel III.

SWIFT has published a new paper to help financial institutions in India improve their monitoring of anomalous and potentially fraudulent transactions.

Mutual funds will have to report on their use of AI and ML to facilitate investing, trading, dissemination of investment strategies and advice, compliance, operations and other activities.

The Association of Mutual Funds in India has issued new guidelines on how fund managers should write down debt and take haircuts for sub-investment grade securities.

Three brokerages facing market bans had asked for a temporary stay to close out open futures and options positions.

The RBI has fined prepaid payment instrument issuers, two US money transfer firms and Yes Bank for non-compliance with regulatory guidelines.

The RBI has been ordered by the India's highest court to disclose its annual banking inspection report, which contains sensitive commercial information of banks.