India

Sustainable Finance

RBI Introduces Scheme to Widen Green Bond Trading in GIFT City

By Ajoy K Das | 30/08/2024

Eligible participants include persons residing outside India, IBUs of foreign banks, and certain regulated funds or schemes.

Structural Regulation

SEBI to Raise Net Worth Requirements for Merchant Bankers

By Ajoy K Das | 30/08/2024

The current net worth requirement is around $6mn. SEBI proposes to raise this 10x for those handling main board issues.

Clearing & Post-Trade

SEBI Fines CDSL and Citibank for Separate Regulatory Violations

By Ajoy K Das | 30/08/2024

Both settlement orders were passed on Tuesday, with SEBI saying it reserves the right to initiate further action against CDSL or Citibank.

Structural Regulation

RBI Grants Recognition to First SRO for Fintech Sector

By Ajoy K Das | 30/08/2024

The RBI granted recognition to the ‘Fintech Association for Consumer Empowerment’, known as FACE.

Anti-Money Laundering

NYDFS Fines Nordea Bank $35mn for AML Failures

By Editors | 29/08/2024

NYDFS said Nordea’s deficient AML programme exposed it to a “high risk of criminal abuse” which was “imported” to New York’s financial system.

Payments & Settlements

SEBI Proposes to Mandate UPI Blocking Mechanism for Stock Trades

By Ajoy K Das | 29/08/2024

Under the UPI block mechanism, investors only transfer funds to the broker after their shares are credited.

AI Risk & Governance

RBI Developing New Unified Platform to Facilitate Lending

By Ajoy K Das | 28/08/2024

The so-called “Unified Lending Interface” will provide lenders digital access to customer data from land records and other sources.

Market Abuse

SEBI Bans Anil Ambani from Securities Market for Five Years

By Ajoy K Das | 27/08/2024

Billionaire industrialist Anil Ambani and others allegedly orchestrated a scheme to divert funds from Reliance Home Finance through loans to connected entities.

Structural Regulation

SEBI Proposes Revisions to Boost Appeal of Rights Issues

By Ajoy K Das | 26/08/2024

SEBI aims to make rights issues the preferred route for additional fundraising by listed companies, compared to QIPs and preferential allotments.