Region: India

India’s central bank has told the country’s lenders to stop citing its own now-obsolete order that banned banks from offering their services to cryptocurrency exchanges and customers.

02 June 2021

India’s parliament is considering a proposal that would prohibit “private” cryptocurrencies, despite industry participants complaining there has been “no clear communication” on what falls under the definition.

09 February 2021

The Reserve Bank of India has completed its plan to fold crisis-hit lender Lakshmi Vilas into Singapore’s DBS, after courts in Mumbai and Chennai rejected shareholder pleas to stay the US$335 million merger.

30 November 2020

The Reserve Bank of India has proposed allowing large conglomerates to obtain banking licences, a move its former governor has said would allow for self-lending and conflicted ownership structures.

25 November 2020

The Reserve Bank of India has appointed a new deputy governor with responsibility for its regulatory activities, as it faces calls from a former supreme court justice for increased transparency and accountability in its decision-making.

14 October 2020

WhatsApp has received a boost in its quest to launch its payment platform in India after a Supreme Court affidavit filed last week revealed it has complied with data localisation rules, but the Indian central bank is yet to give it the go-ahead.

05 August 2020

The head of Cyril Amarchand Mangaldas’ financial regulation practice Shruti Rajan, and partner Garima Joshi, are joining Indian firm Trilegal in its Mumbai office, while Hong Kong firm Tanner De Witt has promoted a new partner in its banking and finance department.

01 June 2020