India

Fintech / Regtech

India to Standardise Icons Used in Payment Apps to Curb Fraud

By Sanday Chongo Kabange | 08/12/2022

Project Pratima aims to introduce a uniform set of icons for basic payment actions and processes, curb fraud, and boost digital payments adoption.

Securities / Derivatives

IFSCA Mulls Introduction of VCC Structure in GIFT City

By Editors | 08/12/2022

An expert committee set up by the IFSCA in 2020 has proposed a legal framework for introducing the VCC structure for funds operating in GIFT City.

Capital / Liquidity

RBI Issues Revised Regulatory Framework for UCBs

By Editors | 08/12/2022

The four-tiered regulatory framework for UCBs will allow the RBI to prescribe more differentiated requirements based on size.

Crypto / Digital Assets

NYDFS Sets Out Proposals to Charge Crypto Firms for Supervision

By Editors | 08/12/2022

The 22 crypto companies with a New York BitLicense will be subject to assessments to determine supervisory and examination costs.

Fintech / Regtech

NPCI Extends UPI Market Cap Compliance Deadline to End 2024

By Mark Johnston | 07/12/2022

The NPCI has for the third time extended its compliance deadline for imposing a 30 percent market cap limit on UPI payment apps.

ESG / Sustainability

SEBI Planning Regulatory Changes in the ESG Space

By Sanday Chongo Kabange | 07/12/2022

SEBI is planning to simplify its BRSR framework to take into account local market conditions, mandate ESG audits, and regulate ESG rating providers.

Market Infrastructure

RBI Adds Modified MIFOR to List of Significant Benchmarks

By Editors | 05/12/2022

The Modified MIFOR curve will replace the FBIL MIFOR curve for new contracts, using Adjusted SOFR instead of USD LIBOR.

Securities / Derivatives

SEBI Instructs Fund Managers to Monitor Telegram for Name Misuse

By Editors | 05/12/2022

SEBI said some Telegram groups were impersonating mutual fund houses and has instructed AMCs to put in place monitoring to detect such activity.

RBI Relaxes Rules on Bank Dealings in Overseas Financial Products

By Sanday Chongo Kabange | 05/12/2022

Indian banks, through their overseas operations, are now allowed to undertake activities that would not be permitted in the domestic market.