Reserve Bank of India Master Directions on Prepaid Payment Instruments, 2021
The provisions of MD-PPIs shall apply to all Prepaid Payment Instrument (PPI) Issuers and System Participants. It provide a framework for authorization, regulation and supervision of entities issuing and operating PPIs in the country.
The IFSC has allowed branches of Indian financial institutions to offer financial products linked to Indian Rupee
Branches of Indian banks and branches of other Indian financial institutions operating in IFSC may, subject to the directions issued by the Authority, offer financial products linked to Indian Rupee.
Operating Guidelines on Bullion Exchange, Bullion Clearing Corporation, Bullion Depository and Vault Manager
The Bullion Exchange shall only enable trading in Bullion which adhere to OECD Due Diligence Guidance for Responsible Supply chain of Minerals from Conflict Affected and High-Risk Areas for establishing supply chain integrity.
Modalities for implementation of the framework for Accredited Investors
Eligible subsidiaries shall make an application to SEBI through the concerned Stock Exchange or Depository, for recognition as an Accreditation Agency within 3 weeks from the date of the Circular.
SEBI initiates implementation of system for Security and Covenant Monitoring using Distributed Ledger Technology
The system using Distributed Ledger Technology (DLT) shall be used for recording of the process of creation and monitoring of security (viz. due diligence, charge creation etc.), continuous monitoring of covenants by Debenture Trustees (as applicable), credit rating of the non-convertible securities by the Credit Rating Agencies, etc.
National Monetization Pipeline
NMP estimates aggregate monetization potential of Rs 6.0 lakh crores through core assets of Central Government.
BSE circular regarding Segregation and Monitoring of Collateral at Client Level
BSE has clarified that clearing members who are registered with multiple clearing corporations i.e. registered with more than one equity or commodity clearing corporation are required to report the collaterals which is available with respective clearing corporation only instead of aggregated collateral across all clearing corporations.
Factoring Regulation (Amendment) Act, 2021 operationalised
The amendment provides that every factor shall register the particulars of every transaction of assignment of receivables in his favor with the Central Registry set-up the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
IFSCA Guidelines on Factoring and Forfaiting of Receivables
The guidelines directs that every Factor and/or ITFS on behalf of the Factor, as the case may be, shall register the particulars of every transaction of assignment of receivables in its favor with the Central Registry set-up under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
SEBI imposes an additional 3% penalty on repeated default by seller.
Sebi, in consultation with clearing Corporations (CCs), has decided that in the case of repeated defaults by a seller or a buyer, for each instance of repeated default an additional penalty shall be imposed. Which shall be 3 % of the value of the delivery default.
