Central bank audits failed to detect loan fraud using Punjab National Bank guarantees for over seven years; overseas branches which granted loans also under scrutiny.
New products will allow SGX participants to maintain exposure to India’s capital markets, following the decision to stop issuing market data licenses to overseas exchanges.
Private banks, merchant banks can invest on behalf of FPI clients; pre-approval requirement for switching local custodian effectively scrapped.
New framework will force banks to reclassify stressed accounts and initiate steps towards resolution, immediately on default.
BSE, NSE, MSEI to stop issuing market data licenses to foreign exchanges in a bid to halt migration of liquidity from India.
Inter-regulatory group concerned about ‘dearth’ of coherent law on customer data, recommends multiple measures to support development of fintech regulatory framework.
New ombudsman scheme will initially cover deposit-taking nonbank financial companies; rules to be laid out this month.
Tax concessions and single window clearance to businesses and investors announced in annual budget by Indian government.
Reports praise progress but suggest more can be done on governance at public sector banks, market infrastructure risk management, among other issues.
Nationwide survey reveals USD 3.5 billion in cryptocurrency transactions over 17-months; banks suspend services to exchanges to deter 'suspicious transactions'.