India

Resolution & Recovery

India Progresses Key Deposit Insurance Reforms

By Editors | 09/08/2021

The reforms will enable customers to access their deposits within 90 days if a bank is unable to fulfill its obligations due to a moratorium.

Liquidity Risk

RBI Extends Liquidity Facilities for Banks, NBFCs

By Editors | 09/08/2021

The impacts of the second wave of the Covid-19 pandemic have been visible in the real estate sector, the RBI said. It is also monitoring stressed assets in the banking sector.

Credit Risk

UPDATED – RBI Extends Deadline for Current Account Restrictions

By Editors | 09/08/2021

The extension is being provided to ensure customers are “not put to undue inconvenience during the implementation process”.

Structural Regulation

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.

KYC & CDD

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.

Trading & Investment

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.

Payments & Settlements

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.

Payments & Settlements

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.

Payments & Settlements

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.