The Reserve Bank of India (“RBI”) recently issued instructions on practices to be adopted for charging penal interest/ charges on loans, vide its notification dated August 18, 2023, titled ‘Fair Lending Practice – Penal Charges in Loan Accounts’ (“Circular”).Continue Reading Fair lending practices on levy of penal charges
In October 2022, the Securities and Exchange Board of India (“SEBI”) introduced several amendments to various chapters of its Operational Circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper, dated August 10, 2021 (“Operational Circular”), in response to certain representations received by it from various market participants. These modifications appear to be in line with SEBI’s continued efforts to improve the accessibility, fairness, and transparency of the debt securities market.Continue Reading Changes to SEBI’s framework on non-convertible debt securities: A Snapshot
The Securities and Exchange Board of India (“SEBI”) has recently issued the operational guidelines (“Operational Guidelines”)[1] for its circular dated August 13, 2021, on ‘Security and Covenant Monitoring using Distributed Ledger Technology’ (the “DLT Circular”)[2]. This article will examine the key highlights of the Operational Guidelines and analyse their impact.Continue Reading A Technology Driven Approach to Achieving Compliance: SEBI’s Operational Guidelines for Monitoring of Security and Covenants