CAMS brings to you the important happenings in the BFSI segment during this week. In this weekly roundup, we will attempt to cover key events, milestones, regulatory updates that have an impact on the BFSI sector in India.
Prime Minister Narendra Modi said on Sunday the government would launch the gold monetisation scheme before Dhanteras. In his monthly ‘Mann ki Baat’ radio broadcast, the PM also said peace, harmony and unity were the foundations of progress and the diversity of India was its pride.
The Reserve Bank of India (RBI) on Thursday issued directions for banks on implementation of the gold scheme approved by the government last month with the objective of monetizing India’s massive private holdings of the precious metal.
The Reserve Bank of India (RBI) has turned down a proposal from the government to allow up to 100% foreign direct investment (FDI) in banks, a move that may come as a damper for several private sector lenders.
As an ever-growing number of consumers flock to eCommerce websites for their shopping needs, market regulator Sebi is considering allowing sale of mutual funds through these platforms to deepen this market.
In yet another first, The Reserve Bank of India (RBI) will auctioned the first ever 40-year government bond on Friday. This will be the longest tenor bond issued by India. Until now, the 30-year bond has been the longest-duration security issued by the Indian government.
Action on High Frequency Trading: SEBI says fact-finding exercise already underway. Market regulator Securities and Exchange Board of India (SEBI) mentioned that Technical Advisory Committee (TAC) has extensively discussed the issue of high frequency trading (HFT) and the matter is drawing its serious attention.
The Reserve Bank of India has invited applications for authorisation from entities, including non-banks and banks, currently engaged in bill payments and desirous of operating as Bharat Bill Payment System Operating Units under the Bharat Bill Payment System.
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