India

    Securities / Derivatives

    SEBI Imposes New Caps on Mutual Fund Fees

    By Manesh Samtani | 19/09/2018

    The new caps link total expense ratios to assets under management, in a bid to pass on the benefits of scale to investors and improve transparency in the industry.

    Capital / Liquidity

    India to Merge Three State Banks to Consolidate Weak Balance Sheets

    By Garima Chitkara | 19/09/2018

    India has begun the process to merge Dena Bank, Vijaya Bank and Bank of Baroda in a bid to support their weak balance sheets and consolidate the state-run banking sector.

    AML / KYC

    SEBI Changes Course on Foreign Investor KYC Requirements

    By Garima Chitkara | 11/09/2018

    SEBI may be going back on new rules restricting non-resident Indians and persons of Indian origin from investing in India via the FPI route.

    Market Infrastructure

    Apple Shelves India Payments Expansion, Google to Move Ahead

    By Manesh Samtani | 11/09/2018

    Apple shares concerns over data localisation with Mastercard, Visa, Amazon, WhatsApp and PayPal, but Google will be ready to comply by December.

    Enforcement

    RBI Fines Three State Banks for Fraud Reporting Failures

    By Editors | 10/09/2018

    Union Bank of India, Bank of India and Bank of Maharashtra are each fined 10 million rupees.

    AML / KYC

    SEBI to Review KYC Rules for FPIs Amid Criticism from Fund Industry

    By Garima Chitkara | 06/09/2018

    SEBI says fund industry’s claims that new rules barring non-resident Indians from investing via the FPI route will lead to $75bn in outflows is “preposterous”, but has agreed to review the norms and provide recommendations.

    Market Infrastructure

    India Launches Payments Bank Using Postal Network

    By Editors | 04/09/2018

    On 1 September, India’s postal services launched a payments bank to offer basic banking and remittance services, starting from 650 post offices with an aim to expanding to its network of 155,000 post offices by 31 December.

    Market Infrastructure

    First Commodity Derivatives Clearing House Starts Operations in India

    By Editors | 03/09/2018

    First commodity derivatives clearing house in India, MCX Clearing Corporation, begins operations from 3 September 2018.garima

    Fintech / Regtech

    Xiaomi Seeks Entry to India Payments Market

    By Editors | 30/08/2018

    The Chinese smartphone maker is conducting tests for its upcoming payments service in India, which is set to be powered by the UPI, if approval is granted by the RBI.

    Securities / Derivatives

    Axis Becomes First Bank Subsidiary to Offer Commodity Derivatives

    By Editors | 30/08/2018

    Clients can now trade commodity futures and options on the MCX; trading on NCDEX to be supported by end-September.

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