India

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    Enforcement

    India: ICAI Passes Order Against EY Affiliates and Former Boss

    By Ajoy K Das | 01/05/2024

    EY’s India affiliates have been using global network branding and paying referral fees to global network firms, which is prohibited.

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    AML / KYC

    India: AMFI in Talks with SEBI to Resolve Mutual Fund KYC Logjam

    By Ajoy K Das | 01/05/2024

    New KYC validation process is preventing mutual fund investors from undertaking new mutual fund transactions, including redemptions.

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    Fintech / Regtech

    Thailand to Launch Cross-border QR Payment Link with India

    By Nithya Subramanian | 30/04/2024

    The payment link with India is expected to roll out in Q3. BOT is aiming to become a multinational payment network.

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    Securities / Derivatives

    SEBI to Allow Lower Face Value of Privately-placed Debt Securities

    By Manesh Samtani | 30/04/2024

    The lower face value will be optional for issuers of privately-placed non-convertible debentures and non-convertible redeemable preference shares.

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    Fintech / Regtech

    ICICI Bank Expresses Regret for Exposing Credit Card Data

    By Ajoy K Das | 30/04/2024

    A glitch caused 17,000 credit cards to be erroneously mapped to the wrong users, who were able to see all the card details in the bank’s mobile app.

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    Securities / Derivatives

    SEBI Directs BSE to Remediate Erroneous Fee Calculations

    By Ajoy K Das | 30/04/2024

    BSE has to pay almost $20mn for to make up for years of incorrect calculations of its annual options trading turnover.

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    Securities / Derivatives

    RBI Allows SFBs to Hedge with Interest Rate Derivatives

    By Ajoy K Das | 30/04/2024

    Until now, small finance banks have only been permitted to use interest rate futures for hedging.

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    Capital / Liquidity

    RBI Sets Guidelines for SFBs to Transition into Universal Banks

    By Ajoy K Das | 30/04/2024

    Small finance banks can apply to transition into universal banks, subject to them meeting certain conditions.

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    Fintech / Regtech

    RBI Issues Draft Guidelines for Loan Aggregation Services

    By Ajoy K Das | 29/04/2024

    The RBI said borrowers may not know the identity of potential lenders when using loan aggregation services.

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    AML / KYC

    Message Encryption In Focus for Indian, European Authorities

    By Editors | 29/04/2024

    WhatsApp will leave India if it is required to break encryption. Europol expresses concern with message encryption on Messenger.

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