India

Capital / Liquidity

RBI Panel Proposes New Regulatory Framework For UCBs

By Sanday Chongo Kabange | 26/08/2021

The RBI panel recommends a four-tier structure for regulating UCBs, and the establishment of an umbrella organisation to oversee them.

Enforcement

Indian Police Arrest Karvy Stock Broking Founder for Fraud

By Editors | 25/08/2021

The case dates back to 2019, when the brokerage was found to have pledged client securities at banks to secure loans for use as working capital.

Securities / Derivatives

India Pilots New Gift City Bullion Exchange

By Editors | 20/08/2021

The International Bullion Exchange will be the ‘gateway for bullion imports into India’, the finance ministry said in a statement.

Market Infrastructure

RBI Says Only Visa Complies With Data Localisation Rules

By Ranamita Chakraborty | 19/08/2021

Visa is the only foreign card network that complies with requirements for financial data on Indian customers to be stored locally, the RBI says.

Securities / Derivatives

RBI Loosens Restriction on Foreign Sovereign Bond Holdings

By Sanday Chongo Kabange | 19/08/2021

Foreign sovereign bonds will not count towards a regulatory cap on holdings of overseas listed securities, the RBI reportedly told some banks in a notice.

Market Infrastructure

RBI Launches New Index to Track Financial Inclusion Metrics

By Editors | 18/08/2021

The Financial Inclusoin Index for the period ending March 2021 measures at 53.9, compared to 43.4 for the period ending March 2017.

Fintech / Regtech

Depositories to Develop Platform for Monitoring Security Creation: SEBI

By Editors | 18/08/2021

SEBI is asking issuers, debenture trustees, and credit rating agencies to carry out necessary changes to ensure readiness to use the new DLT-based platform.

Securities / Derivatives

SEBI Creates Panel to Explore Move to T+1 Settlement – Report

By Sanday Chongo Kabange | 16/08/2021

A reduction to T+1 is expected to increase market liquidity and trading turnover, while also reducing settlement risk and broker defaults.

Securities / Derivatives

SEBI Combines Debt Securities Rules Into Single Regulation

By Ranamita Chakraborty | 15/08/2021

New operational guidelines cover non-convertible securities, securitised debt instruments, security receipts, municipal debt securities and commercial papers.