India

Payments & Settlements

India’s UPI Payment Service Launches in France

By Ajoy K Das | 07/02/2024

The service will enable Indian tourists to make UPI-based payments across merchants in France.

Payments & Settlements

India Issues Regulatory Framework for GIFT City Payment Services

By Ajoy K Das | 06/02/2024

The regulations cover account issuance, e-money issuance, escrow, cross-border money transfer and merchant acquisition services.

Alternative Markets

SEBI Proposes to Allow AIFs to Pledge Equity Shares

By Ajoy K Das | 06/02/2024

Consultation proposes to allow Category I and II AIFs to create encumbrances on equity holdings in infrastructure sector companies.

Structural Regulation

SEBI Considers Scrapping Security Deposit Required of Issuers

By Ajoy K Das | 05/02/2024

An expert committee has recommended abolishing the requirement for equity issuers to keep a security deposit with the stock exchange.

Cybersecurity

Telecom Breach Exposes Personal Information of 750 Million Indians

By Ajoy K Das | 05/02/2024

Billed as biggest ever leak of its kind, the breach has exposed names, mobile phone numbers, addresses and Aadhaar card numbers.

Supervision & Enforcement

RBI Issues Directive on Streamlining Internal Compliance Monitoring

By Ajoy K Das | 01/02/2024

A review found that internal compliance monitoring is still carried out with “significant manual intervention”.

Structural Regulation

India’s IFSCA Issues Eligibility Criteria for Accredited Investors

By Ajoy K Das | 30/01/2024

The GIFT City regulator has specified criteria for individuals, sole proprietorships and other investment entities who can be deemed accredited investors.

Structural Regulation

SEBI Extends Deadline for Market Rumour Verification Rule

By Ajoy K Das | 29/01/2024

The regulator said the extension was necessary to finalise industry standards and implement certain legal amendments.

Market Abuse

India Gives Offshore Funds Time to Disclose Investors

By Mark Johnston | 26/01/2024

SEBI is reportedly allowing offshore funds seven months to disclose the identities of their investors before they are forced to liquidate their holdings.