India

The capital requirement for payment aggregators has been reduced to 150mn rupees, down from 1bn rupees proposed in September.

The RBI's move to provide US dollar liquidity amid a sinking rupee had the unintended consequence of squeezing liquidity in its domestic currency.

The single borrower and group exposure limit will be 15% and 25% of tier 1 capital, respectively, compared to 15% and 40% of total capital previously.

State Bank of India and 7 other FIs are investing over 100bn rupees in Yes Bank's equity. The bank's moratorium will be lifted on Wednesday.

The RBI will offer USD/INR sell/buy swaps to bolster FX  market liquidity, as foreign investors withdraw from India amid growing concerns over Covid-19's economic impact.

State Bank of India and other banks will invest about 500 billion rupees in Yes Bank shares and CDs. AT1 bondholders will recover about 20% of their investment.

The arrest comes just days after the RBI seized control of Yes Bank due to its inability to raise capital to restore liquidity and address loan losses and credit downgrades.

Under the proposal, listed companies will only be allowed to provide guarantees based on "economic interest", and subject to prior approval from the majority of minority shareholders.

SEBI proposes to enable access to multiple e-voting service providers through a single login and authentication at the depository level.

The RBI says it had "no alternative" to protect the interests of the public and depositors, given the absence of a credible revival plan. A draft plan for Yes Bank's reconstruction is open for comment.