India

Trading & Investment

SEBI Grants MCX Approval to Launch New Platform

By Mark Johnston | 11/10/2023

The new web-based commodity derivatives platform will launch on 16 October after being put on hold last month.

Capital Adequacy

SEBI Imposes Capital Rule on Execution-only Mutual Fund Platforms

By Editors | 10/10/2023

Category-II EOPs will be required to maintain at least INR 1 million (USD 12,000)  in capital with the stock exchange.

Cybersecurity

RBI Allows Banks to Introduce Card Token Facilities

By Editors | 09/10/2023

Card token creation has until now only been available through merchant applications or websites, not issuer banks.

Structural Regulation

SEBI Forms 16 Working Groups to Focus on Rule Simplification

By Editors | 09/10/2023

SEBI is additionally inviting suggestions from the public and regulated entities on ways to simplify, ease and reduce cost of compliance.

Payments & Settlements

India, UAE Sign Agreement to Interlink Payment Systems

By Editors | 09/10/2023

India will interlink the UPI with the UAE’s Instant Payments Platform. The RuPay switch and UAESWITCH card switches will also be interlinked.

Credit Risk

RBI Forms Working Group to Develop ECL Framework for Banks

By Manesh Samtani | 06/10/2023

The working group will help develop design principles for banks’ credit risk models and recommend an independent validation methodology.

Conduct, Culture & Accountability

Barclays to Appeal India Whistleblower Retaliation Ruling

By Mark Johnston | 03/10/2023

Barclays is appealing an Indian court order that found it had violated its whistleblowing policy and retaliated against a former IT manager.

Anti-Money Laundering

US Regulators Penalise Shinhan Bank for AML Violations

By Mark Johnston | 01/10/2023

The US subsidiary of South Korea’s Shinhan Bank will pay a USD 15 million penalty to settle cases from FinCEN, the FDIC, and NYDFS.

Anti-Money Laundering

Indian Lawmakers Demand Parliamentary Probe into Adani Group

By Mark Johnston | 29/09/2023

The Congress party says SEBI is reluctant to investigate the allegations against the Adani Group, one of the largest conglomerates in India.