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Fraud, Scams & Cybercrime
Indian Banks Taking Nearly Two Years to Detect Fraud: RBI
By Editors | 02/09/2019
The RBI said in its annual report that banks take an average of 22 months to detect fraud, and up to 55 months for frauds involving large amounts.
Trading & Investment
SEBI Extends Deadline for New Rules on Handling Client Securities
By Editors | 30/08/2019
Following feedback from stock exchanges and market participants, SEBI has decided to extend the effective dates in a June circular by one month.
Capital Adequacy
RBI to Transfer $24bn to Govt on Committee Recommendation
By Editors | 28/08/2019
The transfer will comprise of a $17.2bn income surplus and $7.4bn in excess provisions resulting from a newly revised economic capital framework for the RBI.
Trading & Investment
India Withdraws FPI Tax Surcharge Amid Foreign Pressure
By Editors | 26/08/2019
The surcharge, introduced last month, increased capital gains tax on foreign trusts investing in India to over 40%, prompting the stock market’s worst July in 17 years.
Structural Regulation
SEBI Eases Requirements for FPI Registration
By Editors | 23/08/2019
SEBI has consolidated 57 circulars and 183 FAQs issued over the years into a single circular for FPIs, easing several requirements in the process.
Credit Risk
SEBI to Force Borrowers to Disclose Defaults to CRAs
By Editors | 23/08/2019
The move follows a spate of defaults in India where credit rating agencies were blamed for being unable to flag potential credit risks.
Market Abuse
SEBI Targets Insider Trading with Informant Reward Mechanism
By Editors | 22/08/2019
Whistleblowers will be eligible for rewards up to $139,000 and, if culpable themselves, for amnesty or settlement with SEBI.
Cloud & Infrastructure
RBI Issues Enabling Framework for Regulatory Sandbox
By Editors | 14/08/2019
The RBI has set a minimum net worth criteria of $35,000 for sandbox participants, half the amount specified in April’s draft.
Credit Risk
RBI Props Up NBFCs Through On-Lending Guidance
By Editors | 14/08/2019
Banks are mandated to lend a portion of their funds to priority sectors. Allowing NBFCs to serve as middlemen for such lending provides them a liquidity backstop.
Trading & Investment
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”.
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