Payment system operators may not outsource core management functions such as risk management, internal audit and KYC compliance.
SEBI has asked India's two RTAs, KFinTech and CAMS, to develop a new dedicated platform for investors to transact in mutual funds.
e-RUPI is a QR code or SMS string-based prepaid e-voucher that can be used for purchases without an app, card, bank account, or internet access.
Malaysia's SC has announced enforcement actions. Binance is winding down its derivatives business in Europe. India is probing its involvement in a betting probe.
Prepaid payment instruments, white label ATM operators and card networks can now connect to the RTGS and NEFT systems.
The framework seeks to address previous instances of brokers defaulting and misusing clients' securities and funds.
Like other central banks, the RBI has been exploring a CBDC and is now examining use cases which could be implemented with little or no disruption.
The bad bank will be 51% owned by public sector banks. The remaining shares will be owned by private sector lenders.
SOFR is expected to be the most widely accepted benchmark rate used to replace LIBOR and MIFOR in India.
The RBI has given Centrum Financial Services in-principle approval to set up a small finance bank to take over PMC Bank.
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