First commodity derivatives clearing house in India, MCX Clearing Corporation, begins operations from 3 September 2018.garima
The Chinese smartphone maker is conducting tests for its upcoming payments service in India, which is set to be powered by the UPI, if approval is granted by the RBI.
Clients can now trade commodity futures and options on the MCX; trading on NCDEX to be supported by end-September.
The central bank’s February circular allowed banks 180 days to resolve defaulted loans over 20bn rupees; many of these accounts will now be referred to bankruptcy courts.
SEBI chairman expressed concern about the high concentration of AUM among the top mutual funds and spoke of the need for greater competition in the industry.
RBI deputy governor says that a public credit registry, with inputs from the corporate registration and GST database, will help increase access to credit in India.
A recent report by Moody’s Investor Services says the government's recapitalisation plan for state run banks will be just enough to cover loan losses and regulatory capital ratios, but not enough to boost credit growth required for economic expansion.
Government wants central bank to review criteria for releasing banks from PCA framework, shift to Basel III capital standards.
Requirement to provide details of beneficial ownership extended to end-December, after market participants asked for a review of the FPI guidelines and more time to comply.
Market participants should not consider cost savings when formulating cyber security measures, said RBI governor Urjit Patel while launching digital payments platform UPI 2.0.
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