For bond trading, foreign banks ready locally-compliant structures

For bond trading, foreign banks ready locally-compliant structures

Mumbai: Foreign banks are closer to setting up locally compliant structures and mechanisms to ensure seamless trading in domestic bonds after overseas rules on oversight rights led to a standoff between Indian and European monetary authorities.European banks likely to be affected by the impasse between the European Securities and Markets Authority (ESMA) and the Reserve Bank of India (RBI) may bypass the contentious overseas regulations by holding less than half of the domestic entity…
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