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Economic Times
17 minutes ago
- Economic Times
GMR Airports board clears proposal to raise up to Rs 5,000 crore
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Time of India
an hour ago
- Time of India
Sebi mulls AI-only AIF regulatory regime with significantly less compliance requirements
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Markets regulator Sebi has proposed a new accredited investors-only alternative investment fund (AIF) regime with lesser compliance rules, a move aimed at enabling sophisticated investors to back higher-risk ventures more efficiently, its senior official said on Sebi is also working on an FPI (Foreign Portfolio Investors) portal, a one-stop shop that will provide clear information for existing and new foreign investors on ways to access Indian markets, its Whole Time Member Ananth Narayan G said at FICCI CAPAM 2025 event Accredited Investors (AIs), he said that globally, such investors are identified as experienced and capable of handling risk, so they are given fewer regulatory protections. To qualify, investors must show they can manage risk and are willing to accept fewer introduced an AI framework in 2021, but it hardly gained traction because the process was cumbersome and expensive, and offered few this is now changing, as Sebi has already simplified the process of obtaining AI status, making it largely paper-free, and is working to make it even easier, Narayan said that Sebi is looking to allow AIF (Alternative Investment Fund) managers to do the initial checks for AI Narayan said that Sebi has now " proposed an AI-only AIF regulatory regime that has significantly less compliance requirements around investor protection--our pathway to optimum regulations around AIFs. We want to enable sophisticated investors to back higher-risk ventures in an efficient manner".On FPI front, he said, "Sebi is also developing an FPI Portal, providing clarity and transparency to existing and prospective foreign investors around our regulatory regime".This will also be a one-stop shop for global investors to understand the "how" of accessing India markets, he August 2023, Sebi came out with norms requiring foreign funds with more than 50 per cent of their holdings in a single corporate group to give detailed information about all their owners and beneficiaries. However, some funds such Sovereign Wealth Funds and regulated mutual funds with strict rules on diversification and transparency were exempt, based on a trust-but-verify the regulator wants to turn these exemptions into a positive qualification. The idea is to create a framework called SWAGAT-FI or a Single Window Automatic & Generalized Access for Trusted Foreign Investors. This could cover up to 70 per cent of foreign portfolio investor (FPI) assets, Narayan FPIs would benefit from easier registration, simpler compliance requirements, and broader market access, similar to large domestic the Futures& Options market, Narayan said that Sebi is considering ways to improve the tenor and maturity profile of derivative products, so that they better support sustained capital formation."This may also need to be achieved in a calibrated manner, giving the system adequate time to adjust," he said that the regulator is open to objective and simple mechanisms to ensure that derivative participation is informed, suitable, and approach to arriving at the optimum regulatory regime around derivatives has been, and will continue to be, analytical and daily traded volumes in equity cash markets have grown rapidly by over 25 per cent Compounded Annual Growth Rate over the past 5 years, to well over Rs 1 lakh crore in the day, Sebi Chairman Tuhin Kanta Pandey also stressed on improving the tenor and maturity profile of derivative products.
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Business Standard
an hour ago
- Business Standard
MeitY blocked 1,300 illegal gaming sites but offshore firms still thrive
Despite the Ministry of Electronics and Information Technology (MeitY) issuing 1,298 directions between 2022 and 2024 to block online betting, gambling and gaming websites, executives from real money gaming (RMG) firms allege that non-compliant offshore platforms continue to thrive in India. Additionally, the Directorate General of Goods and Services Tax Intelligence (DGGI), in a note published in March, said it had blocked 357 non-compliant offshore RMG entities, with 700 more under scrutiny. With bans imposed on homegrown RMG platforms, offshore entities are expected to gain further ground, cornering the Indian market through social media channels, messaging platforms and proliferation of apps operated from regulatory havens. 'The crackdown on offshore platforms led us to believe that the Centre was focussed on curbing these operators by working with the homegrown industry as partners. There were risk and analytics professionals advising the government on illegal money flows and suspicious behaviour,' an executive with knowledge of the matter said, requesting anonymity. Executives said the industry had co-operated with the government in cracking down on offshore entities in recent months. However, they pointed out that many offshore firms continued to promote their services through outdoor advertising despite government orders. They noted that bans on legitimate operators in states such as Andhra Pradesh and Tamil Nadu had in the past pushed RMG activity towards offshore companies. Executives cautioned that if a complete ban is imposed on Indian operators, instances of financial distress and money laundering could rise, as offshore firms remain outside the scope of regulatory scrutiny. 'The demand does not evaporate because of this ban, the demand is still there. It is just that a different set of operators will be available now to fulfil that,' one executive said. A July 2024 survey conducted by PRAHAR (Public Response Against Helplessness and Action for Addressal) among 2,500 gamers in Telangana—where RMG has been banned for eight years—found that more than 94 per cent of players continued to access offshore or illicit apps through VPNs, Telegram groups or sideloaded platforms.
