RBI revises norms for entities applying for CCP

Quick Summary:

The Reserve Bank of India updated its criteria for Central Counterparties (CCPs), requiring a minimum net worth of Rs 300 crore, mandatory submission of audited net worth, and shares owned by users.

Foreign CCPs must seek approval to operate, and CCPs must form a compliance committee chaired by an independent director.

TOI Business Desk / TIMESOFINDIA.

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Article Details

Author / Journalist: TOI Business Desk

Category: EconomyBusiness

Markets: India

Topics: Minimum net worth Audited net worth Central Counterparty Business news CCP RBI Foreign CCP Reserve Bank of India

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 16:24:51 (3 days ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 559 words

Reading Time: 4 minutes read

Sentences: 20 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 23323010

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