The Reserve Bank of India has designated the State Bank of India and ICICI Bank as Domestic Systemically Important Banks.
The Reserve Bank of India has approved eleven non-financial corporations to become payments banks, a new classification of financial institution that can offer basic banking and payment services.
RBI Deputy Governor SS Mundra is calling for tighter regulatory frameworks around peer-to-peer (P2P) lending, internet-only banks, crowd funding platforms and cryptocurrency.
Domestic tax rules changed to account for US legislation; minimum alternate tax exemption backdated to 2001.
The Securities and Exchange Board of India has announced new commodity market norms effective from September 28 – the date it has set to merge with the Forward Markets Commission.
State Bank of India chief Arundhati Bhattacharya says new measures to tackle bad debt do not help smaller firms while bank capital is prioritised towards meeting regulatory requirements.
The Securities and Exchange Board of India has proposed a relaxation of regulations for infrastructure investment trusts in a bid to help developers unlock capital.
Securities and Exchange Board of India chief U.K. Sinha has met with key officials of national and regional commodity exchanges to iron out certain issues related its upcoming merger with the Forward Markets Commission.
The Securities and Exchange Board of India will start collecting details of salaries paid to employees and top officials at mutual funds to calculate the cost of funds of asset management companies.
India’s government has announced a comprehensive seven-pronged revamp plan to shake up its struggling public sector banks, dubbed “the most comprehensive plan since nationalisation of banks in 1969”.
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