India

Market Infrastructure

RBI Amends Guidelines to Facilitate LIBOR Transition

By Manesh Samtani | 08/08/2021

Banks are permitted to extend export credit using alternative rates. A change in the benchmark used in a derivatives contract need not be treated as a restructuring.

AML / KYC

SEBI Allows Indian Fund Managers to Participate in FPIs

By Editors | 07/08/2021

KYC norms that required FPIs and institutional investors to disclose their personal information to SEBI have also been relaxed.

Securities / Derivatives

Intra-day NAV is Applicable for ETF Transactions: SEBI

By Ranamita Chakraborty | 06/08/2021

The mutual fund industry told SEBI the closing NAV may “not be relevant” for direct transactions in ETF units with large investors.

Market Infrastructure

RBI Issues Outsourcing Framework for Payment System Operators

By Sanday Chongo Kabange | 05/08/2021

Payment system operators may not outsource core management functions such as risk management, internal audit and KYC compliance.

Securities / Derivatives

SEBI Asks RTAs to Build Common Platform for Fund Investors

By Editors | 05/08/2021

SEBI has asked India’s two RTAs, KFinTech and CAMS, to develop a new dedicated platform for investors to transact in mutual funds.

Market Infrastructure

India Launches New Digital Payment Solution Nationwide

By Manesh Samtani | 04/08/2021

e-RUPI is a QR code or SMS string-based prepaid e-voucher that can be used for purchases without an app, card, bank account, or internet access.

AML / KYC

Regulatory Pressure on Binance Builds With Malaysia Ban

By Manesh Samtani | 01/08/2021

Malaysia’s SC has announced enforcement actions. Binance is winding down its derivatives business in Europe. India is probing its involvement in a betting probe.

Market Infrastructure

BIS, MAS Set Out Blueprint for Cross-border Payments

By Ranamita Chakraborty | 29/07/2021

BIS Innovation Hub Singapore Centre and MAS have published a blueprint that could make real-time cross-border payments a reality in the next two to four years.

Market Infrastructure

RBI Opens RTGS, NEFT to Non-bank Payment System Providers

By Editors | 29/07/2021

Prepaid payment instruments, white label ATM operators and card networks can now connect to the RTGS and NEFT systems.