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Fintech / Regtech
RBI Halts Plan to Allow New Umbrella Entities in Retail Payments
By Editors | 01/09/2021
The decision is reportedly based on data security concerns following recent breaches at payment firms and non-compliance by global payment giants with India’s data localisation rules.
Market Infrastructure
India Financial Reporting Authority Seeks Auditor Oversight Powers
By Editors | 31/08/2021
The National Financial Reporting Authority is preparing a draft bill to propose to the government that will grant it greater financial autonomy and broader regulatory powers.
Fintech / Regtech
India Targets December for CBDC Pilot Testing
By Sanday Chongo Kabange | 31/08/2021
RBI governor Shaktikanta Das said the central bank is studying various aspects of a digital rupee with a view to conducting trials in December.
Market Infrastructure
ASIFMA Warns SEBI Against Move to T+1 Settlement
By Ranamita Chakraborty | 30/08/2021
SEBI has established a panel of experts to look into moving from T+2 to T+1. ASIFMA says such a move will prove problematic for global investors.
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.
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