New rules for the disclosure of scheme risk-o-meters, performance and portfolio details will be implemented on 1 September instead of 1 June.
The overseas investment limit was raised from $600mn to $1bn. For investments in overseas ETFs, the limit was raised from $200mn to $300mn.
HDFC violated rules that prohibit banks from entering into any business unrelated to financial services.
The RBI has clarified that its 2018 circular prohibiting cryptocurrency dealings is no longer valid, and should not be cited or quoted from.
Banks will need to closely monitor their asset quality in the coming quarters, the RBI said in its annual report.
The new laws give the Indian government greater power to monitor online activity and require data to be stored in a “traceable” database.
The proposed gold exchange would facilitate trading in so-called 'Electronic Gold Receipts', and help to improve transparency and price discovery.
Revised RBI guidelines put in place a mechanism for private sector banks to apply for authorisation to conduct government business.
Video-based KYC can be used for onboarding individual customers, business owners, and authorised signatories and beneficial owners of legal entities.
The proposed framework seeks to protect clients’ collateral from being misused or misappropriated by trading or clearing members.
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