India

Market Infrastructure

SGX-NSE GIFT City Trading Link Receives Regulatory Approval

By Editors | 07/08/2019

The so-called ‘NSE IFSC-SGX Connect’ is set to become operational by end-2020, ending a dispute between the two exchanges.

Enforcement

RBI Issues Fines on Multiple Banks Totalling $2.9mn

By Editors | 06/08/2019

The fines, involving 15 banks in total, were related to delays in reporting fraud and non-compliance with various other RBI norms.

Securities / Derivatives

SEBI Proposal Stricter Rules for Portfolio Managers

By Editors | 06/08/2019

SEBI proposes a higher net worth requirement, a higher minimum investment, and standardised performance reporting for portfolio managers, among other changes.

Market Infrastructure

RBI Tightens Criteria for Board Appointments at State Banks

By Editors | 05/08/2019

The revised criteria for determining the ‘fit and proper’ status of proposed candidates include age, education, experience, and track record, among other criteria.

Market Infrastructure

SEBI Seeks Uniform Penalties Framework for Margin Reporting Failures

By Editors | 03/08/2019

Fines charged to members for misreporting or non-reporting of margins collected from clients may extend to 100% of the incorrectly or nonreported amount.

Market Infrastructure

SEBI Grants QCCP Status to MCX Clearing Corporation

By Editors | 01/08/2019

SEBI has granted qualifying central counterparty status to Multi Commodity Exchange Clearing Corporation.

Capital / Liquidity

RBI Eases Rules on Overseas Borrowing for NBFCs

By Editors | 01/08/2019

NBFCs can use overseas borrowings to fund working capital, repay rupee loans, and on-lend to domestic customers. Banks can also sell distressed loans to eligible overseas lenders.

Fintech / Regtech

India Enables Consent-Based Financial Data Sharing

By Manesh Samtani | 26/07/2019

Four years of collaboration between India’s major financial regulators has resulted in a new platform that enables financial services providers to share data with other institutions based explicitly on user consent.

Market Infrastructure

NSE Clearing Retains Dominance as Interoperability Kicks In – Report

By Editors | 25/07/2019

Trading members and custodians have largely selected NSE Clearing over ICCL to settle trades in the equity cash segment following the introduction of clearing corporation interoperability.