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RBI Sets Out Guidelines on Bank Compliance Function
By Editors | 13/09/2020
The guidelines are aimed at ensuring a uniform approach with regard to compliance and risk management culture across the banking industry.
Capital / Liquidity
India Supreme Court Temporarily Extends Borrower Relief
By Editors | 11/09/2020
The extension gives the government two weeks to decide on whether to extend a loan moratorium for borrowers and whether an interest waiver is warranted.
Capital / Liquidity
RBI Issues Framework for Covid-related Loan Restructuring
By Editors | 09/09/2020
The framework sets out sector-specific floor and ceiling thresholds for five financial ratios that lenders mandatorily have to consider when restructuring loans.
Enforcement
India’s Enforcement Directorate Fines StanChart $13.6mn
By Editors | 08/09/2020
Standard Chartered escrow accounts were used in 2007 to transfer shares in Tamilnad Mercantile Bank to overseas investors without the RBI’s permission.
Securities / Derivatives
SEBI Revises Mutual Fund Side Pocketing Standards
By Sanday Chongo Kabange | 08/09/2020
Previously, only debt securities downgraded below investment grade can be side pocketed. Side pocketing will be allowed for even higher-rated debts that are restructured due to Covid-19.
Capital / Liquidity
RBI Issues Draft Rules on Variation Margin Exchange
By Manesh Samtani | 08/09/2020
The rules are applicable to India-regulated financial firms, IFSC banking units, and FPIs with non-cleared derivatives exceeding 500bn rupees.
Capital / Liquidity
RBI Issues Revised Priority Sector Lending Guidelines
By Editors | 07/09/2020
The new guidelines will boost credit availability for startups, renewable energy, health infrastructure, small farmers, and “identified districts” with low credit flows.
Capital / Liquidity
RBI Loosens Constraints on Banks’ Bond-buying Activities
By Editors | 06/09/2020
The move will provide banks additional liquidity to buy more government bonds and help calm investors who are nervous about a sudden spike in yields.
Securities / Derivatives
SEBI Asks Rating Agencies Not to Classify Restructured Debt as Default
By Editors | 06/09/2020
Credit rating agencies are asked not to consider debt restructured as a result of Covid-19 related stress as a default event.
Market Infrastructure
India Planning Specialised Cyber Agency for Financial Sector
By Editors | 19/08/2020
The specialised agency was proposed in 2017 by then finance minister Arun Jaitley. On Saturday, Prime Minister Narendra Modi said India will soon have a new cyber security policy.
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