REGULATORY EVOLUTION
Sebi proposes comprehensive review of merchant banker regulations
Markets regulator Sebi has proposed a comprehensive review of merchant banker regulations to address changes in market dynamics. The review includes assessing the activities of bankers, updating capital adequacy requirements, and introducing a minimum liquid net worth.
Binance registers with FIU-IND, pays Rs 18.8 crore fine to restart operations in India
Binance registration with the Financial Intelligence Unit (FIU-IND) marks its 19th global regulatory milestone, the company said in a statement on Thursday. India leads the world in grassroots crypto adoption, according to Chainalysis’ 2023 Global Crypto Adoption Index, Binance said.
Green bonds - Municipal bodies think change, climate change
Brihanmumbai's ₹10,224 crore FY25 climate budget signifies Indian municipal bodies' shift to sustainability. With Solapur, Vadodara, Bhopal, Indore, and Pimpri-Chinchwad leading green initiatives, CEO Masood Mallick highlights Swachh Bharat Mission, regulatory evolution, and public-private partnerships. NGT's environmental compensation emphasizes compliance, increasing the need for green financing.
RBI policy on expected lines, upgrading GDP growth estimate reposes confidence: Bankers
Bankers welcomed the Reserve Bank of India's decision to maintain interest rates, as it was in line with expectations, with an upward revision of the growth estimate. The move, including the unchanged repo rate, was seen as positive for the economy. The revised GDP growth forecast for FY25 instilled confidence in the central bank's outlook. Industry leaders praised the regulatory measures and highlighted the importance of collaboration for financial sector growth.
Trai reviewing norms for inactive landline and mobile connections, seeks feedback
The telecom regulator is seeking input on defining inactive landline and mobile connections as part of a discussion paper for a revised national numbering plan. It also seeks industry suggestions on reusing numbering resources from inactive connections.
Human intelligence on keeping AI in line
The second global summit on AI regulation in Seoul showed progress in overseeing AI development. Tech companies reiterated their commitment to basic safeguards. Governments are establishing institutions to monitor risks and define restricted areas. The focus is on harmonizing international regulations to keep AI within approved limits. While promising, current regulations lack enforcement. The shift to government oversight signals progress from industry and academia. Two approaches are emerging: applying rules based on use cases and controlling AI development at its source to prevent scenarios where AI outwits regulations.
Why Sebi's decision on AIF certification is need of the hour and should be welcomed
Sebi mandates that at least one key personnel on the investment team of an AIF manager must have NISM certification. The regulation aims to signal legitimacy, promote lifelong learning, and create a talent pool in the investment industry.
Homebound startups restructure; offline push by D2C brands
Happy Wednesday! Homegrown startups are stepping on the pedal for their move back home. This and more in today's ETtech Morning Dispatch.
How to reskill and upskill yourself in pharma industry
The Indian pharma sector is evolving rapidly, demanding reskilling amidst technological advancements and regulatory shifts. To thrive, professionals must embrace digital transformation, stay updated on regulations, and invest in continuous learning. Soft skills and adaptability are also crucial in navigating market dynamics. Reskilling is imperative for success in this dynamic landscape.
T+0 is more than a procedural update. It will fundamentally alter trading
The shift to T+0 has met with mixed reactions and holds immense potential to enhance market operations. Here's why it can potentially improve the efficiency in the cash markets to the next level.
Rise of fintech leads to demand for leaders who can manage regulatory and business requirements
Increased regulatory requirements in fintech drive demand for professionals with expertise in blockchain, AI, and cybersecurity. Boards seek leaders capable of navigating complex regulatory landscapes while fostering innovation and ensuring regulatory compliance for sustainable growth.
Regulatory scrutiny may queer the pitch for insurtech; and other top startup & tech stories this week
Multiple people in the know have told me that the insurance regulator is not comfortable with the typical corporate structures of startups, and may not be in favour of granting them an insurance manufacturing licence. The regulator wants these firms to get rid of any holding company structures, onboard investors directly into the applying entity, and have founders bring in sufficient amount of net worth before applying.
Keeping AI's future open: A key to ethical and inclusive AI innovation and governance
The rapid evolution of AI presents a unique opportunity to merge cultures, ideas, and knowledge into a unified canvas of innovation. With AI predicted to inject $15.7 tn into the global economy, its role extends beyond economic growth to societal transformation. Policymakers worldwide are focusing on a broader, more inclusive approach to governance that transcends conventional regulatory strategies.
Ola Electric raises $50 million in debt financing from EvolutionX Cap
Ola Electric Mobility raised Rs 410 crore from EvolutionX Debt Capital, supported by DBS and Temasek. Founder Bhavish Aggarwal is pitching the IPO to global investors, aiming for a $7-8 billion valuation.
Upholding Corporate Integrity: The evolution of independent directors' accountability
The market’s watchdog in the past has gone blazing guns at independent directors by levying penalties ranging from monetary to debarment in capital markets for failure in exercising due diligence. Some popular names include Jai Mata Glass Limited, Securekloud Technologies Limited, Sanwaria Consumers Limited.
Advancing stem cell therapy: The regulatory process to get to clinical trials
Advancements in new drug and stem cell therapy can transform the treatment of many diseases, but development is complicated, takes years and is expensive. Here is how one can get the necessary approvals from regulators to start clinical trials.
Reflecting on 15 Years of Bitcoin: India's Crypto Evolution and Beyond
The inception of Bitcoin traces back to a mysterious figure known as Satoshi Nakamoto, who introduced this groundbreaking digital currency through a whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" published in 2008. Nakamoto's vision centred on a decentralised financial system and the concepts elucidated in this document laid the foundation for a trustless, secure, and transparent financial network.
Evolution of investor portals and its impact on investor relations in alternative investments
The catalyst for the development of investor portals in alternative investments can be attributed to the broader trend of digitalization in the financial industry. As investors and fund managers sought more efficient ways to conduct business, the demand for purpose-built digital solutions became apparent, leading to the evolution of investor portals.
From coastal trading town to high-tech hub: Dubai’s transformation through entrepreneurial stories
Long-time business families, recent entrepreneurs and investors in Dubai share insights into the city's transformation, highlighting business opportunities and challenges.
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