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India
PEPs & Sanctions
US Adds Indian Firm to Entity List, Highlights Export Controls on Russia
By Editors | 20/11/2023
Commerce Department accuses the firm of supplying US-origin circuits to Russian defence companies, while also targeting firms supplying US-origin airline parts to Venezuela.
Structural Regulation
Indian Court Orders Calcutta Stock Exchange to Halt Trading on NSE
By Ajoy K Das | 20/11/2023
SEBI barred the CSE from operating its equities trading platform in 2013. It has since been allowing its members to trade on via the NSE. The agreement with NSE expired in September 2021.
Payments & Settlements
RBI Allows Banks to Give Exporters Extra Flexibility in Trade Transactions
By Ajoy K Das | 20/11/2023
Banks maintaining special rupee vostro accounts are permitted to open an additional special current account for exporters.
Cybersecurity
India’s UCO Bank Calls in Federal Investigators to Probe Payments Disruption
By Ajoy K Das | 19/11/2023
The CBI is being called in to investigate a possible cyber-attack or manipulation of the state-owned bank’s internal systems.
Anti-Money Laundering
Indian Authorities Probe Aviva for Alleged Tax Evasion – Report
By Ajoy K Das | 17/11/2023
Inspectors from the Directorate General of GST Intelligence seized laptops from Aviva and questioned some of its top officials.
Credit Risk
RBI Increases Consumer Credit Risk Weights for Banks, NBFCs
By Ajoy K Das | 17/11/2023
Banks and NBFCs will have to set aside more capital against personal loans and credit card receivables, and tighten their credit standards.
Payments & Settlements
India-Thailand Payments Link to be Announced “Soon” – Report
By Ajoy K Das | 16/11/2023
India’s ambassador to Thailand, Nagesh Singh, said negotiations have been underway and there will very soon be “good news”.
Supervision & Enforcement
RBI Takes First Action Against Non-Compliance With Digital Lending Guidelines
By Ajoy K Das | 16/11/2023
The RBI said Bajaj Finance did not issue the Key Fact Statements to borrowers as required under its digital lending guidelines issued in September 2022.
Conduct, Culture & Accountability
SEBI Directs Stock Brokers to Issue Simplified Terms to Clients
By Ajoy K Das | 16/11/2023
Brokers forum instructed to frame standard ‘most important terms and conditions’ for new clients by 1 April and existing clients by 1 June.
Cryptocurrency
NYDFS Finalises Enhanced Requirements for Crypto Token Listings
By Editors | 16/11/2023
New guidance enhances the risk assessment standards in coin-listing policies and requires licensees to also develop coin-delisting policies.
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