The Memorandum of Understanding sets out a framework for engagement between the two bodies and will enhance industry coordination in dealing with cooperative issues that arise in the payments system.
The Reserve Bank of India has approved eleven non-financial corporations to become payments banks, a new classification of financial institution that can offer basic banking and payment services.
China has relaxed its property investment rules for foreigners, allowing them to buy as many properties as they wish and loosening restrictions on loans and settlement in foreign currencies.
The Australian Prudential Regulation Authority is down-playing its desire for city-specific lending restrictions to cool Sydney and Melbourne property prices.
The Yangon Stock Exchange, Myanmar’s first modern bourse, will begin accepting listing applications in September and open in early December.
ASIC releases consultation paper proposing an industry funding model where regulatory costs will be recovered directly from banks, listed companies and the financial services sector.
The Reserve Bank of New Zealand has released a consultation paper with proposals to update its outsourcing policy for banks.
RBI Deputy Governor SS Mundra is calling for tighter regulatory frameworks around peer-to-peer (P2P) lending, internet-only banks, crowd funding platforms and cryptocurrency.
The China Securities Regulatory Commission has launched an investigation into some of China's largest brokerages for suspected rule violations.
Domestic tax rules changed to account for US legislation; minimum alternate tax exemption backdated to 2001.