Introduction

Edition 16th 23-24

Week – August 14th to August 19th

Quote for the week:

"Every problem is a gift - without problems we would not grow”

–  Anthony Robbins (American Author)

We welcome you to our weekly newsletter!

The ‘Swift e-Bulletin’ - weekly newsletter, covers all regulatory updates and critical judgements passed during the week. We hope that you liked our previous editions and found it to be of great value in its content. We want this newsletter to be valuable for you so, please share your feedback and suggestions to help us improve.

Further, various regulatory authorities have been proactive in bringing significant regulatory changes in recent challenging times. This week’s newsletter covers various circulars/notifications issued by certain regulatory authorities such as the Reserve Bank of India (“RBI”) and International Financial Services Centres Authority (“IFSCA”)

The Regulatory authorities provided various updates/relaxations, some of which being:

1. RBI vide Notification dated August 18, 2023 issued the revised Regulatory Framework for Infrastructure Debt Funds – NBFCs (IDF-NBFCs).
2. IFSCA issued Press Release dated August 16, 2023 on Financial Action Task Force (FATF) High risk and other monitored jurisdictions June 2023.

We have prepared a comprehensive summary for quick reference of the aforesaid updates and Judgements / orders issued during the week of August 14th to August 19th 2023.

Thank you,

Swift team

 REGULATORY UPDATES

RBI

1. RBI vide Notification dated August 18, 2023 issued the revised Regulatory Framework for Infrastructure Debt Funds – NBFCs (IDF-NBFCs)

IFSCA

1. IFSCA issued Press Release dated August 16, 2023 on Financial Action Task Force (FATF) High risk and other monitored jurisdictions June 2023