India

Securities / Derivatives

SEBI Proposes to Relax Requirements for Mutual Funds

By Ajoy K Das | 27/02/2024

Separate dedicated fund managers would no longer need to be appointed for commodity and overseas investments.

Fintech / Regtech

RBI Opens Prepaid Payment Instrument Market for Public Transport

By Ajoy K Das | 26/02/2024

Banks and non-banks can issue PPIs for use on public transport, with prepaid balances capped at INR 3000.

India Amends Rules to Strengthen Safeguards in NPS Ecosystem

By Ajoy K Das | 26/02/2024

The PFRDA has amended its regulations to improve governance and risk management at trustee banks and central recordkeeping agencies.

India Proposes Collateral Rules for Cross-border Reinsurance Transactions

By Ajoy K Das | 24/02/2024

IRDAI said the proposed requirements would protect the interest of the policyholders and insurers as well as promote a healthy and robust insurance ecosystem.

AML / KYC

India to Centralise FATCA, CRS Certifications at KYC Registration Agencies

By Ajoy K Das | 21/02/2024

RFIs are directed to upload certifications under FATCA and CRS received from clients directly into the KRA system.

Securities / Derivatives

India to Develop GIFT City Currency Derivatives Market

By Ajoy K Das | 20/02/2024

The IFSCA has established an advisory committee to study the introduction of a GIFT City market for exchange traded currency derivatives.

AML / KYC

RBI Directs Card Networks to Stop Facilitating Certain B2B Payments

By Ajoy K Das | 19/02/2024

Card networks should not enable businesses to use fintech players as intermediaries to make card payments to non-card accepting recipients.

Fintech / Regtech

RBI Defers Effective Date of Paytm Payments Bank Restrictions

By Editors | 18/02/2024

The deferral is to allow customers more time to make alternative arrangements. RBI also released FAQs to clarify the impacts of the restrictions.

Securities / Derivatives

SEBI Proposes Registration Requirement for PMS Distributors

By Ajoy K Das | 16/02/2024

The proposal is in line with the mutual fund industry where distributors are required to be registered with AMFI.