Delhi Government RBI MoU and the Beginning of Structured Fiscal Governance Delhi Government RBI MoU has emerged as one of the most consequential public finance reforms undertaken by the National Capital Territory in recent years. By formally appointing the Reserve Bank of India as its banker, debt manager, and financial agent, the Delhi Government has aligned itself with a governance framework that most Indian States have followed for decades. This development is not merely administrative […]

RBI on NBFC Underwriting Standards: A Clear Regulatory Message to the Sector RBI on NBFC underwriting standards has once again come to the forefront following a high-level interaction between the Reserve Bank of India and senior leadership of select non-banking financial companies. The message from the regulator was measured, yet firm—credit growth must be supported by strong underwriting discipline, vigilant asset quality monitoring, and ethical conduct at every level of lending. At a time when […]

Insurance Mis-selling in India is No Longer a Marginal Issue Insurance mis-selling in India has moved from being an occasional complaint to becoming a structural concern that regulators, insurers, banks, and intermediaries can no longer afford to overlook. In its latest Annual Report 2024–25, the Insurance Regulatory and Development Authority of India (IRDAI) has clearly flagged mis-selling as a key risk undermining customer trust, policy persistency, and long-term insurance penetration in the country. What makes […]

SEBI AI Cyber Safety Tool and the New Era of Risk-Based Supervision SEBI AI Cyber Safety Tool represents a major leap in how India’s capital markets regulator is strengthening cyber preparedness across regulated entities. As digital participation deepens and market infrastructure becomes increasingly technology-dependent, cyber resilience has moved from being a compliance requirement to a systemic necessity. Speaking at the Bombay Stock Exchange, the Chairman of Securities and Exchange Board of India, Tuhin Kanta Pandey, […]

SEBI Merchant Banker Net Worth Norms and a Clear Shift in Regulatory Expectations SEBI Merchant Banker Net Worth Norms mark one of the most consequential regulatory upgrades for India’s capital market intermediaries in recent years. With India emerging as one of the world’s most active equity issuance hubs, the market regulator has moved decisively to ensure that merchant bankers managing public fund-raising are financially strong, professionally governed, and capable of absorbing market stress. Through amendments […]