Weekly Roundup – August 6

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CAMS brings you a weekly glimpse at the key happenings in the BFSI sector, in India and abroad. Regulatory updates or important news, here are some which might have had an impact on the sector.

China: Cut in bank reserve ratios to inject high dose of liquidity into financial system and lead to Yuan depreciation, says China Central bank.

chinese yuan

Brazil : Opening Ceremony of Rio Olympics reflects the tumultuous state of finances in the host country

Brexit: Bank of England cuts interest rates to enamor UK from the dangers of an impending recession

GSecs

RBI reveals new guidelines for ‘on-tap’ licensing of new private banks, deeming resident Indian individuals and professionals with 10 years’ experience in BFSI eligible to promote universal banks.

RBI

RBI, SEBI and IRDAI launch Centralized KYC system to facilitate upload of KYC data with CERSAI. Hailed as a standardization initiative, cKYC is expected to reduce complexity for customers.

for cams

State Level Coordination Committee of RBI and SEBI get a facelift with launch of a new website to deter scams. Website to include strategic information for benefit of investors, such as data on entities that accept public deposits illegally.

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SEBI releases combined debt limit for overseas investments in Rupee denominated bonds. The regulator asks depositories to institute essential systems for periodic collection of information on foreign investments in the bonds.

MF1

Indian AMC schemes that focus on investing overseas have fallen down 30% against the 41.6% rise in domestic asset management.

 

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Published by

Sudarshan Ranganthan

Breaths Investments, Suggests Wealth Creation Ideas, Lives on Law Of Attraction

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