The Interbank Account Data Sharing Initiative will enable banks to share bank account data with other banks, subject to customer consent.
An MCA-led committee led will this month complete the first draft report on the need for ex-ante regulation for big tech firms via a new law.
Robo wealth management services are currently being offered by 16 financial institutions. Legislation will be ready in H1 2024.
NTT Data will connect its corporate bond issuance infrastructure directly to MUFG's Progmat platform for issuing security tokens.
The RBI invited expressions of interest last September. The $10mn contract has now been awarded to McKinsey and Accenture.
ASIC's Alex Orgaz-Barnier and DTCC's Priya Kundamal spoke to Regulation Asia about the changes to the derivative transaction reporting regime in Australia.
One new feature will enable users to initiate UPI transactions by conversing with an AI-powered system. Japan is exploring a potential UPI linkage.
Banks are directed to launch digital systems to enable non-resident Bangladeshis to open accounts and invest in the country from overseas.
The law has raised concerns over the excessive powers granted to the government to access private data without consent.
The draft rules prohibit the misuse of facial recognition technology by entities and in public spaces including banks.
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