The Reserve Bank of India has announced the establishment of a new unit to streamline its supervision and regulation of banks and financial companies.
Indian asset management companies serving offshore funds as advisers will now be entitled to tax benefits which will enable them to take up direct fund management of offshore funds.
Mutual funds will be allowed to trade exchange-traded commodity derivatives, but cannot invest in physical goods, except through gold ETFs.
SEBI's sandbox framework for capital markets innovation comes just weeks after the RBI released its own sandbox framework for banking and payment services.
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.