Entries by Staff

Significant Risk Transfer: Market, Structures, Economics and Risks

February 11, 2026 /0 Comments/in /by

Vinod Kothari and Dayita Kanodia | Finserv@vinodkothari.com  Introduction Known by various alternative names as “synthetic risk transfers”, “credit risk transfers”, “on balance sheet securitisation” or “synthetic securitisation”, Significant Risk Transfers (SRT) have a history of over 25 years but have recently grown faster than other components of either traditional securitisation or credit derivatives.  The pool […]

InvITs and REITs: Regulatory actions for more enabling environment 

February 10, 2026 /0 Comments/in /by

Simrat Singh | Finserv@vinodkothari.com  SEBI has issued a Consultation Paper on 05.02.2026 proposing amendments to the InvIT Regulations related to end-use of borrowings, status of SPVs and investment in under-construction projects. Further, it has also proposed to enhance the investible options for both REITs and InvITs w.r.t liquid mutual funds.  InvITs and REITs have continued […]

The Swap that does it all: RBI introduces total return swaps on corporate bonds

February 9, 2026 /0 Comments/in , , , /by

– Dayita Kanodia & Siddharth Pandey | finserv@vinodkothari.com Budget 2026 proposed to introduce Total Return Swaps (TRS) for corporate bonds, purportedly as a measure for synthetic trading in corporate bonds. However, given the very slow pick up of credit default swaps, the much easier and globally prevalent version of credit derivatives, will the more esoteric […]

Draft Income-tax Rules deal a tax blow on CTC Car leases

February 9, 2026 /0 Comments/in , , , /by

– Chirag Agarwal, Assistant Manager | finserv@vinodkothari.com Draft Income-tax Rules, 2026 (“Draft Rules”), intended to be applicable from 1st April, 2026, have increased the perquisite value for cars used for a mix of personal and official use, by Rs 3200 per month  and Rs 4600 per month (where the expenses for running and maintenance are […]