Sweeping amendments in FDI rules

The Government of India introduced major changes in FDI policy on Monday, Jun 20, 2016, bringing most sectors and activities under automatic approval route. The changes introduced now simplifies the regulations governing foreign investments, increases sectoral caps with a small negative list. These amendments are the second sweeping changes in FDI policy after changes announced…

Name change: CCIL is now Trade Repository

The Clearing Corporation of India Limited (CCIL) is now designated as ‘Trade Repository’ for the OTC interest rate and Foreign Exchange Contract.  The  designated trade repository will  be regulated and supervised under section 34(2) of Payment and Settlement Systems Act, 2007 (PSS Act).  Being a Financial Market Infrastructure (FMI), the repository would function under “Regulation…