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RBI to promote innovations in payment systems with soft touch regulations:Governor
Sanjay Malhotra,Governor , RBI "We will continue to encourage...
Irdai permits insurers to undertake transactions in bond forwards for hedging
In a circular on 'Exposure to Forward Contracts in Government...
SBI Life to reclassify BNP Paribas Cardif as non-promoter
As per Sebi guidelines, a promoter or promoter group seeking reclassification should not hold more than 10 per cent of the voting rights in the company. SBI Life shares closed at Rs 1,129.15 apiece on BSE, down 1.86 per cent from the previous close Mumbai: SBI Life...
China asks banks, firms to report exposure to Jack Ma’s Ant Group -Bloomberg News
Ant has been subjected to a sweeping restructuring by China, whose initial public offering of $37 billion was derailed by regulators in late 2020. Chinese authorities have told state-owned firms and banks to start a fresh round of checks on their financial exposure...
RBI-appointed administrator invites bids for resolution of Reliance Capital
Reliance Capital has two insurance companies, Reliance General Insurance and Reliance Nippon Life Insurance Company, as subsidiaries Mumbai: As part of the resolution process, the RBI-appointed administrator on Friday invited expressions of interest (EoIs) for sale of...
SC sets aside SAT’s “aiding and abetting corruption’ remarks against former IRDA member Joseph
Aggrieved by a SAT order, the IRDAI and its former member PJ Joseph had filed an appeal in the SC ,which the insurance regulator claimed was issued without giving it a proper hearing. The other parties in the long drawn case are few insurance brokers including Atkins...
Sebi moots new disclosure framework for IPOs of loss-making cos
The move comes against the backdrop of many new age companies, that do not have a track record of having an operating profit at least in the preceding three years, tapping the Initial Public Offering (IPO) route to raise funds New Delhi: Markets watchdog Sebi on...
No group can have more than one FRB in India:IRDAI
Till recently AXA group had only two separate branches, XL Se India branch and AXA France India branch and IRDA had asked the group to wind up operation of one of its branches Hyderabad: The insurance regulator IRDAI, after allowing overseas reinsurers to set up...
Time to ready global response to crypto risks, regulators say
Regulators worry increasingly about how a meltdown in cryptoassets – markets which are highly volatile and still opaque – would feed through into the wider financial sector London: Risks from the $2.6 trillion crypto market could grow quickly and regulators need...
Separation of chairperson, MD positions voluntary: Industry welcomes Sebi’s decision
Capital markets regulator Sebi on Tuesday said the requirement to split Chairperson and Managing Director/Chief Executive Officer positions at listed companies will not be mandatory and will be implemented on a voluntary basis Mumbai: Industry bodies on Tuesday...
Cryptocurrencies threaten financial sovereignty, need to be banned: RBI Dy Guv
''We have also seen that cryptocurrencies are not amenable to definition as a currency, asset or commodity; they have no underlying cash flows, they have no intrinsic value; that they are akin to Ponzi schemes, and may even be worse. These should be reason enough to...
ESG rater says green push compliance tough for Indian companies
The government’s move has pushed the Securities and Exchange Board of India to roll out a series of rules in the past year and create a standardized ESG framework for the country’s top 1000 listed companies While Indian companies have shown an eagerness to embrace...