India

Structural Regulation

India Eases Market Access for Foreign Institutions

By Manesh Samtani | 17/02/2018

Private banks, merchant banks can invest on behalf of FPI clients; pre-approval requirement for switching local custodian effectively scrapped.

Credit Risk

India Toughens Bad Loan Resolution Framework

By Editors | 15/02/2018

New framework will force banks to reclassify stressed accounts and initiate steps towards resolution, immediately on default.

Structural Regulation

Indian Exchanges Suspend Overseas Index Trading

By Editors | 12/02/2018

BSE, NSE, MSEI to stop issuing market data licenses to foreign exchanges in a bid to halt migration of liquidity from India.

Data Privacy

India to Stiffen Personal Privacy Law, Create Fintech Sandbox

By Samuel Riding | 12/02/2018

Inter-regulatory group concerned about ‘dearth’ of coherent law on customer data, recommends multiple measures to support development of fintech regulatory framework.

Conduct, Culture & Accountability

RBI to Set Up Dedicated Ombudsman for NBFCs

By Editors | 09/02/2018

New ombudsman scheme will initially cover deposit-taking nonbank financial companies; rules to be laid out this month.

Structural Regulation

India’s Financial Centre to Get Unified Regulator

By Garima Chitkara | 05/02/2018

Tax concessions and single window clearance to businesses and investors announced in annual budget by Indian government.

Credit Risk

IMF, World Bank Issue Reports on India Financial Supervision, Market Infrastructure

By Samuel Riding | 24/01/2018

Reports praise progress but suggest more can be done on governance at public sector banks, market infrastructure risk management, among other issues.

Cryptocurrency

UPDATED – India Taxes Cryptocurrency Capital Gains, Banks Shut Out Exchanges 

By Manesh Samtani | 23/01/2018

Nationwide survey reveals USD 3.5 billion in cryptocurrency transactions over 17-months; banks suspend services to exchanges to deter ‘suspicious transactions’.

Fraud, Scams & Cybercrime

UPDATED – PwC Gets 2-Year Ban from Auditing Listed Firms in India

By Garima Chitkara | 15/01/2018

Ban relates to accounting fraud at software exporter Satyam Computer Services, where PwC was auditor.