Entries by Staff

Bond Credit Enhancement Framework: Competitive, rational, reasonable

The RBI’s framework for partial credit enhancement for bonds has significant improvements over the last 2015 version The RBI has released a new comprehensive framework for non-fund based support, including guarantees, co-acceptances, as well as partial credit enhancement (PCE) for bonds. The guidelines with respect to non-fund based facilities other than PCE are not applicable […]

Listed and Restricted? Additional Compliances and Prohibitions for listing of SDIs by RBI regulated Originators

– Payal Agarwal & Dayita Kanodia (finserv@vinodkothari.com) Securitisation Transactions in India are primarily governed by: Consequently, an RBI regulated originator will be required to adhere to both the SSA Directions as well as the SDI Framework in case it intends to go for listing of the securisation notes.  Here, we have discussed the additional prohinitions […]

Repetitive Overhaul: RPT regime to get softer

– Team Corplaw | corplaw@vinodkothari.com SEBI rolls out Consultation Paper: Materiality threshold for RPTs to be scale-based, Industry Standard to get softer, de minimis exemptions Since 2021, the RPT framework for listed entities has been witnessing repetitive changes, and the current year 2025 has seen SEBI on a regulatory fast track in relation to RPTs.  […]

Round-Tripping Reined: RBI Rolls Out Relaxed Rules for Investments in AIFs

-Sikha Bansal, Senior Associate & Harshita Malik, Executive | finserv@vinodkothari.com Background The RBI’s regulatory approach to investments by Regulated Entities (REs) in Alternate Investment Funds (AIFs) has undergone a remarkable transformation over the past two years. Initially, the RBI responded to the risks of “evergreening”, where banks and NBFCs could mask bad loans by routing […]

Webinar on Demystifying Promoter & Promoter Group Puzzle

Register here: https://docs.google.com/forms/d/e/1FAIpQLSc0muIwl_bxlNgcjkudmP9FOjQsecZuOXNjnOBRAk4L2_7vOQ/viewform NAME THEM ALL: SEBI reiterates mandatory disclosure of all promoter group entities in shareholding pattern, regardless of shareholding “Immediate relatives” and not “relatives” for determining promoter group Resource Centre on Promoter/Promoter Group Identification and Obligations

Let them pledge but don’t make it count: RBI’s clarification on voluntary pledge

Harshita Malik | finserv@vinodkothari.com The Banking Puzzle I was giving a collateral-free loan only, but the borrower didn’t agree – he voluntarily came and pledged family gold and silver jewellery!  This is perhaps the way Banks will be reacting after the RBI Clarificatory circular on Voluntary Pledge of Gold (‘Voluntary Pledge Circular’). The Voluntary Pledge […]