India

The final rules increase the net worth, qualification and experience requirements for investment advisers and introduce client-level segregation of advice and distribution activities.

Banks and NBFCs have to classify enterprises as micro, small or medium based on new thresholds for turnover and investment in plant and machinery or equipment.

India has revised its framework for levying the stamp duty on securities transactions, in a bid to ensure uniformity across the country.

An SPV back by State Bank of India will buy investment-grade debt paper with residual maturity under three months to provide NBFCs and HFCs liquidity to settle existing debt.

India has banned 59 of China’s biggest mobile phone apps including TikTok and WeChat, saying they breach data privacy requirements and threaten the country’s security.

Under the Banking Regulation Act amendments, cooperative banks can also undertake merger and restructuring activities more easily and access to fundraising channels.

On the third instance of the order-to-trade ratio exceeding 2000, trading members will be restricted from placing any orders for the first 15 minutes on the next trading day.

From 1 July, the new operational framework will lift restrictions that have to date prevented trading in debt securities that have defaulted on redemption.

SEBI has relaxed pricing rules for preferential issues to make it easier for listed companies to raise new funds. Similar relaxations for stressed companies were also announced.

Digital lending platforms often do not disclose the name of the bank or NBFC providing the loaned funds. Under the new rules they will have to.