India

Market Infrastructure

RBI Task Force Suggests Enhancements to Onshore Rupee Market

By Editors | 10/08/2019

The task force recommends implementation of margin requirements for non-centrally cleared OTC derivatives “at the earliest”.

Capital / Liquidity

RBI Cuts Consumer Credit Risk Weight, Offers Boost to NBFCs

By Editors | 09/08/2019

The RBI will increase bank exposure limits for NBFCs, allow on-lending to priority sectors, and enable near-real-time tracking of payments fraud through the creation of a centralised registry.

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.