India

Anti-Money Laundering

India, US Pledge to Take Stronger Action Against Financial Crime

By Editors | 20/10/2021

Indian finance minister Nirmala Sitharaman and US treasury secretary Janet Yellen also pledged to further engage on climate change.

Cybersecurity

RBI Penalised StanChart, SBI for Regulatory Violations

By Editors | 18/10/2021

The RBI cited non-compliance with its directions on customer protection, cybersecurity, outsourcing, and reporting.

Data Privacy

RBI to Allow Foreign Banks to Store Limited Data Overseas

By Editors | 14/10/2021

Following meetings with foreign banks, the RBI will allow certain static data to be stored in offshore locations for AML and sanctions screening purposes.

Trading & Investment

SEBI Orders Mutual Funds to Direct More Trades to RFQ Platforms

By Editors | 13/10/2021

From 1 December, 25% of mutual funds’ corporate bond trades must be directed through RFQ platforms of stock exchanges.

Fraud, Scams & Cybercrime

RBI Announces Fraud Theme for Fourth Sandbox Cohort

By Mark Johnston | 12/10/2021

The RBI said ‘prevention and mitigation of financial frauds’ will be the theme for the fourth regulatory sandbox cohort.

Market Risk

SEBI Issues Swing Pricing Framework for Debt Funds

By Editors | 11/10/2021

During periods of market dislocation, investors will only be able to exit certain debt funds at 1-2 percent below the NAV.

Payments & Settlements

SEBI to Stop Use of Pool Accounts for Mutual Fund Transactions

By Editors | 10/10/2021

From 1 April 2022, investor money should be directly credited to the bank account of the mutual fund scheme when an investor purchases units.

Trading & Investment

SEBI Proposes Adjustments to IPO Book Building Framework

By Ranamita Chakraborty | 06/10/2021

SEBI says some issuers have been setting “extremely narrow” price bands to camouflage fixed price issues as book built issues.

Resolution & Recovery

UPDATED – RBI to Initiate Insolvency Proceedings at Two NBFCs

By Editors | 06/10/2021

Srei Infrastructure Finance and Srei Equipment Finance owe about INR 180 billion in loans to about 15 banks and INR 100 billion in external borrowings and bonds.