India

    Fintech / Regtech

    NPCI, Lyra Network Sign MOU to Allow UPI Payments in France

    By Editors | 22/06/2022

    The MOU will allow Indians to make payments in France using UPI and Rupay cards at terminals and ATMs provided by Lyra Networks.

    Market Infrastructure

    India Designates IT Resources of ICICI, HDFC, NPCI “Protected Systems”

    By Editors | 21/06/2022

    Unauthorised persons securing or attempting to secure access to protected systems can be jailed for up to ten years and liable for a fine.

    Securities / Derivatives

    SEBI Allows Mutual Funds to Resume Overseas Investing

    By Editors | 21/06/2022

    In February, SEBI advised mutual funds to halt further investments in foreign stocks to avoid breaching industry-wide regulatory limits.

    Enforcement

    RBI Releases Mastercard from Restrictions Imposed Last Year

    By Editors | 20/06/2022

    Mastercard was barred from onboarding new domestic customers in July last year due to noncompliance with India’s data storage rules.

    Securities / Derivatives

    RBI Consults on Initial Margin Rules for Uncleared OTC Derivatives

    By Manesh Samtani | 20/06/2022

    VM rules were proposed in 2020 and will now take effect from 1 December 2022. IM rules are open for comment until 29 July 2022.

    Capital / Liquidity

    RBI Doubles Lending Limits for Cooperative Banks

    By Editors | 19/06/2022

    The higher lending caps are intended to account for rising housing prices and customer needs, the RBI said.

    Securities / Derivatives

    SEBI Enhances Cybersecurity Requirements for Asset Managers

    By Editors | 19/06/2022

    A new framework that took effect on 15 July requires AMCs to conduct cyber audits twice a year and report incidents within six hours of detection.

    Fintech / Regtech

    RBI to Allow Credit Cards to Link to UPI System

    By Editors | 14/06/2022

    Allowing credit cards to link with the UPI will provide consumers more payment options and greater convenience, the RBI said.

    Capital / Liquidity

    RBI Issues Standard Asset Provisioning Rules for Large NBFCs

    By Editors | 09/06/2022

    The new provisioning rules are part of a new regulatory framework for NBFCs that takes effect on 1 October.

    Fintech / Regtech

    RBI Opens Applications for Fourth Sandbox Cohort

    By Editors | 06/06/2022

    The fourth sandbox cohort will focus on preventing fraud. Eight entities have also been selected to participate in the third cohort on MSME lending.

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