India

Credit Risk

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.

KYC & CDD

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.

Trading & Investment

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.

Payments & Settlements

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.

KYC & CDD

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.

Structural Regulation

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.

Payments & Settlements

India, Nepal Ink Pact to Integrate Fast Payments Systems

By Ajoy K Das | 16/02/2024

The RBI has agreed to interlink the UPI with its counterpart in Nepal to enable instant and lower cost cross-border remittances.

Structural Regulation

Asset Managers Moving India Funds to GIFT City – Report

By Ajoy K Das | 14/02/2024

Eight of the ten largest Indian asset managers have either relocated or are planning to relocate to GIFT City.

Fraud, Scams & Cybercrime

India Arrests Three in Raids Against Cybercrime Syndicate

By Ajoy K Das | 14/02/2024

This is the first case where India’s Enforcement Directorate has used a complaint lodged overseas to register a PMLA case and seize proceeds of crime.