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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.
Fintech / Regtech
India Enables Consent-Based Financial Data Sharing
By Manesh Samtani | 26/07/2019
Four years of collaboration between India’s major financial regulators has resulted in a new platform that enables financial services providers to share data with other institutions based explicitly on user consent.
Capital / Liquidity
RBI Urges Better Risk Monitoring, Faster NPA Resolution at State Banks
By Editors | 23/07/2019
RBI governor Shaktikanta Das asked state-owned banks to speed up bad debt recovery efforts, strengthen internal controls and risk monitoring, and help fix the ongoing NBFC liquidity crisis.
Market Infrastructure
SEBI Proposes Additional Requirements for Resigning Auditors
By Editors | 22/07/2019
Under the proposal, auditors will be required to finalise their audit reports and make detailed disclosures regarding their reasons for resignation from listed companies.
Capital / Liquidity
SEBI Tightens NPA Disclosure Requirements for Listed Banks
By Editors | 21/07/2019
Listed banks will have to make disclosures if the additional provisioning for NPAs assessed by RBI exceeds 10% of reported profit, compared to 15% previously.
Capital / Liquidity
Allahabad Bank Reports $258mn Fraud by Indian Steelmaker
By Editors | 17/07/2019
Following a similar report from Punjab National Bank earlier this month, Allahabad Bank has reported a $258mn fraud at Bhushan Power & Steel.
Crypto / Digital Assets
Leaked Draft Shows India’s Zero-Tolerance for Cryptocurrency
By Editors | 17/07/2019
The leaked draft bill being circulated, though unauthenticated, specifies up to 10 years’ jail for buying, selling or storing cryptocurrency in India.
Market Infrastructure
RBI Proposes to Extend Trading Hours for Forex, Money Market
By Editors | 11/07/2019
An RBI working group has proposed extending onshore FX trading from 5pm to 9pm, in a bid to recapture liquidity lost to offshore markets in recent years.
Enforcement
Punjab National Bank Detects $550mn Fraud by Indian Steelmaker
By Editors | 09/07/2019
Punjab National Bank says Bhushan Power & Steel misappropriated bank funds and manipulated its books to raise funds from lenders.
Capital / Liquidity
India’s 2019 Budget Grants Lifeline to State Banks, NBFCs
By Editors | 08/07/2019
The government announced a fresh capital infusion for state banks, credit guarantees on NBFC assets, and stronger supervisory powers for the RBI.
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