India

KYC & CDD

India to Tighten KYC Rules for Hong Kong, China FPIs

By Manesh Samtani | 26/05/2020

Alongside stricter KYC procedures during FPI registration, India may set a 10% beneficial ownership cap on foreign investment from China including Hong Kong.

Credit Risk

SEBI Allows Quicker Upgrades of ‘Cured’ Defaulters by Rating Agencies

By Editors | 25/05/2020

Companies may no longer need to wait months for their credit status to be upgraded after a default is ‘cured’ and payments are regularised.

Credit Risk

RBI Cuts Interest Rate Again, Extends Debt Moratorium

By Editors | 24/05/2020

The RBI has also increased the large exposures cap for banks from 25% to 30% and granted FPIs three more months to comply with requirements under the voluntary retention route.

Liquidity Risk

SEBI Allows Debt Funds to Increase Exposure to G-Secs

By Editors | 23/05/2020

The flexibility has been granted for three months to ensure adequate liquidity in corporate bond funds, banking & PSU debt funds, and credit risk funds.

Trading & Investment

SEBI Provides Exit Route for Franklin Templeton Investors

By Editors | 21/05/2020

Franklin Templeton will be allowed to list units of its six shuttered mutual funds on stock exchanges, providing an alternate exit route to investors whose money is trapped.

Clearing & Post-Trade

RBI Directs IFSC Banking Units to Report OTC Trades to CCIL

By Editors | 20/05/2020

IFSC banking units are required to report their OTC foreign exchange, interest rate and credit derivative transactions to CCIL’s reporting platform from 1 June.

Structural Regulation

India to Allow Private Companies to List on Foreign Exchanges

By Editors | 19/05/2020

Private companies will be able to list in ‘permissible jurisdictions’ – likely to include the US, China, Japan, South Korea, the UK, Hong Kong, France, Germany, Canada and Switzerland.

Structural Regulation

SEBI Relaxes Public Shareholding Requirement for Listed Entities

By Editors | 16/05/2020

The move will mean promoters with more than 75% shareholding in a listed company will not have to divest their holdings while the current challenging environment persists.

Liquidity Risk

India Makes Additional Funding Available to NBFCs

By Editors | 14/05/2020

A $4bn special liquidity scheme will be provided for NBFCs, and the partial credit guarantee scheme already in force is being expanded to also cover non-investment grade NBFC debt.