India

Cryptocurrency

India Contemplates Law Banning Cryptocurrency Trading

By Sanday Chongo Kabange | 17/09/2020

The government will still encourage blockchain, and is exploring its use to manage land records, pharmaceutical supply chains and educational records.

Trading & Investment

India to Introduce New Interest Rate Derivatives Products

By Editors | 16/09/2020

The new products will be accessible to FPIs as well as non-residents transacting with Indian market makers through intermediaries.

Credit Risk

RBI Orders Banks to Automate Asset Classification, Provisioning

By Editors | 16/09/2020

The RBI has given banks until 30 June 2021 to upgrade their systems to automate all asset classification, provisioning calculation and income recognition processes.

Trading & Investment

SEBI Directs Multi Cap Funds to Raise Exposure to Smaller Stocks

By Sanday Chongo Kabange | 14/09/2020

New guidelines will force multi cap funds to dump large cap stocks in favour of small- and mid-cap stocks by January 2021.

Conduct, Culture & Accountability

RBI Sets Out Guidelines on Bank Compliance Function

By Editors | 13/09/2020

The guidelines are aimed at ensuring a uniform approach with regard to compliance and risk management culture across the banking industry.

Credit Risk

India Supreme Court Temporarily Extends Borrower Relief

By Editors | 11/09/2020

The extension gives the government two weeks to decide on whether to extend a loan moratorium for borrowers and whether an interest waiver is warranted.

Credit Risk

RBI Issues Framework for Covid-related Loan Restructuring

By Editors | 09/09/2020

The framework sets out sector-specific floor and ceiling thresholds for five financial ratios that lenders mandatorily have to consider when restructuring loans.

Supervision & Enforcement

India’s Enforcement Directorate Fines StanChart $13.6mn

By Editors | 08/09/2020

Standard Chartered escrow accounts were used in 2007 to transfer shares in Tamilnad Mercantile Bank to overseas investors without the RBI’s permission.

Credit Risk

SEBI Revises Mutual Fund Side Pocketing Standards

By Sanday Chongo Kabange | 08/09/2020

Previously, only debt securities downgraded below investment grade can be side pocketed. Side pocketing will be allowed for even higher-rated debts that are restructured due to Covid-19.