Top Headlines: PFC as India's lead DFI; card-on-file tokenisation, and more

The Union power ministry has moved a proposal to grant Power Finance Corporation (PFC) the status of a development financial institution (DFI), according to sources in the know. With the deadline to comply with Reserve Bank of India’s (RBI's) card-on-file tokenisation norms fast approaching, industry participants say they are relatively well placed now as far as readiness to transition into the new regime is concerned. Read more on these in our top headlines. 

Power Ministry pitches PFC as India's lead DFI for energy transition

The Union power ministry has moved a proposal to grant Power Finance Corporation (PFC) the status of a development financial institution (DFI), according to sources in the know. The objective behind the move is to enable PFC to steer global climate funding and net zero investment in the country. Read more
 

Players ready for migration as card-on-file tokenisation deadline nears

With the deadline to comply with Reserve Bank of India’s (RBI's) card-on-file tokenisation norms fast approaching, industry participants say they are relatively well placed now as far as readiness to transition into the new regime is concerned. But inadequate testing of the new process may throw up teething problems, which may result in failure of some transactions, especially recurring payment ones. Read more
 

Sebi wants more safeguards for F&O trades to shield small investors

The Securities and Exchange Board of India (Sebi) is considering further safeguards to shield small investors from the risky derivatives market. Since the future and options (F&O) segment accounts for a bulk of trading volume, there are concerns around gullible investors dealing in this segment without fully understanding the risk. Read more
 

Telecom association demands 'converged' law for various digital services

The Cellular Operators Association of India (COAI) has asked for a law that addresses the need for “convergence” of various digital services, including telecommunication connectivity, carriage of broadcasting content, and over-the-top (OTT) communication services that are provided using any technology or network, terrestrial or non-teresstrial, including a satellite-based communication network. Read more
 

Global bond index providers reach out to India amid geopolitical shifts

In a departure from earlier instances, global bond index providers have been reaching out to India for the inclusion of its sovereign debt on their platforms, as the growing exclusion of Russia from international capital markets has led to the need to draw in a large emerging market economy. Read more