India

Securities / Derivatives

SEBI Raises Limit for Debt Investments via UPI Mechanism

By Editors | 11/03/2022

The limit for investments in debt securities via the UPI mechanism is being increased from INR 200,000 to INR 500,000, effective 1 May 2022.

Enforcement

Indian Police Arrest Former NSE Head Chitra Ramkrishna

By Sanday Chongo Kabange | 07/03/2022

The CBI said evidence shows that Ramkrishna engaged in a conspiracy with another executive, after she coerced NSE’s HR department to hire him.

Securities / Derivatives

SEBI Extends Timeline for Brokers to Segregate Client Collateral

By Editors | 07/03/2022

The implementation timeline for the new framework on client collateral segregation and monitoring has been extended to 2 May 2022.

Securities / Derivatives

SEBI to Allow FPIs to Access Commodities Derivatives Market

By Editors | 03/03/2022

SEBI proposes to scrap rules that require foreign investors to have actual commodity exposure to participate in the exchange-traded commodity derivatives market.

Fintech / Regtech

India’s ASCI Issues Advertising Guidelines for Crypto Products

By Mark Johnston | 03/03/2022

All virtual asset-related ads released on or after 1 April must carry a disclaimer; Certain words associated with regulated products are will be prohibited.

AML / KYC

US Regulators Fine National Bank of Pakistan $55m for AML Violations

By Sanday Chongo Kabange | 01/03/2022

National Bank of Pakistan is required to pay penalties, correct deficiencies in its AML compliance, and submit quarterly progress reports on remedial actions taken.

Fintech / Regtech

RBI Directs Selected NBFCs to Centralise Core Systems

By Sanday Chongo Kabange | 28/02/2022

Middle and upper layer NBFCs with ten or more places of operation will be required to implement a core financial services solution by 30 September 2025.

Securities / Derivatives

SEBI to Enhance Disclosures on IPOs by Loss-making Tech Firms

By Ranamita Chakraborty | 23/02/2022

SEBI proposes that new age technology companies be required to disclose all presentations made to pre-IPO investors during the three years prior to the IPO.

Capital / Liquidity

RBI Extends Deadline for New NBFC Asset Classification Norms

By Mark Johnston | 22/02/2022

The new norms would have led to a spike in non-performing assets for NBFCs and, hence, higher provisioning.