India

Enforcement

SEBI Imposes 7-Year Market Ban Against Karvy Stock Broking

By Editors | 29/04/2023

Karvy Stock Broking Limited was found to have misused clients’ assets in 2019, by pledging them as collateral to borrow funds from banks and NBFCs.

Market Infrastructure

RBI Eases Restrictions on Funds Held in GIFT City by Indians

By Editors | 27/04/2023

The RBI removed a requirement for Indian residents to repatriate funds that lie idle for 15 days in GIFT City bank accounts. Restrictions on interest-bearing accounts also relaxed.

Market Infrastructure

NSE IFSC-SGX Connect to Fully Launch on 3 July

By Editors | 18/04/2023

SGX will migrate all open positions in SGX Nifty to the relevant NSE IFSC NIFTY contracts during the weekend of 30 June.

Crypto / Digital Assets

NYDFS Issues Final Rule on Bitlicense Assessment Fees

By Editors | 18/04/2023

Crypto firms with a Bitlicense will be billed five times each fiscal year, in part based on their size and complexity.

India, Russia in Advanced Talks on Trade Treaty

By Sanday Chongo Kabange | 18/04/2023

The RBI is also engaged in discussions with several other countries on the possibility of conducting trade in the rupee.

Securities / Derivatives

NSE India to Launch WTI Crude Oil, Natural Gas Futures

By Editors | 17/04/2023

NSE will launch WTI crude oil and natural gas futures contracts from 15 May. Both already trade on India’s MCX.

RBI Directs Lenders to Charge Loan Penalties More Fairly

By Editors | 13/04/2023

The RBI said penal charges on loans are intended to “inculcate a sense of credit discipline among borrowers” and as a “revenue enhancement tool”.

Taiwan FSC Signs Supervisory Cooperation MoU with NYDFS

By Editors | 13/04/2023

The MoU covers information sharing, financial inspections, disciplinary actions, licensing approvals, and confidentiality related to supervisory duties.

Securities / Derivatives

SEBI Issues Framework to Improve IPO Price Band Discovery

By Editors | 12/04/2023

Stock exchanges will have to compute a common equilibrium price for IPO listings if their call auctions result in equilibrium prices that are too far apart.