India: Finance and Banking

Between January and April 2026, the Securities and Exchange Board of India ("SEBI") pushed through a dense cluster of circulars and regulatory amendments – touching everything from merchant banker registration to the way retail investors receive an abridged prospectus. Some of these changes were long overdue; others were triggered by market stress. All of them, taken together, amount to a fairly significant recalibration of how India's capital markets participants will need to conduct themselves going forwa

The Indian corporate financing landscape has evolved significantly, with companies increasingly exploring alternatives to traditional bank funding and equity dilution. One such sophisticated instrument is the issuance of listed Non-Convertible Debentures (NCDs), which allows companies to raise debt capital from institutional investors while maintaining ownership control.

A well drafted partnership deed is the backbone of any partnership firm. While many businesses focus on starting operations quickly, the real legal protection lies in defining the relationship...

The Supreme Court of India recently addressed a critical conflict between statutory debt recovery under the SARFAESI Act and the educational welfare of students enrolled in a defaulting institution.

India's External Commercial Borrowing regulations have undergone significant amendments effective February 16, 2026, introducing substantial changes to pricing caps, end-use restrictions, and borrowing limits.

Reserve Bank of India through circular no. RBI/2026-27/10 A.P. (DIR Series) Circular No. 06 dated 10.04.2026 notified the amendment to the Master Direction - Reserve Bank of India (Non-resident Investment in Debt Instruments) Directions, 2025.

The National Company Law Appellate Tribunal delivered a landmark ruling on whether credit facilities restructured under RBI guidelines retain their secured status during liquidation proceedings without corresponding modification of charge registration. The judgment addresses the complex interplay between corporate debt restructuring, charge registration requirements under company law, and the insolvency resolution framework, establishing critical precedents for consortium lending practices.

We are delighted to share this week's AKP Banking & Finance Weekly Digest. Please feel free to write to us with your feedback at info@akandpartners.in.

The Mutual Funds Regulations 2026 of SEBI together with the new expense ratio framework will establish new methods for Indian mutual funds to charge investors and disclose their expenses...

Earlier this year, the International Financial Services Centre Authority (“IFSCA”) issued a notification (“Notification”) specifying operating leases, including any hybrid of operating...

The RBI has released the Draft Master Direction on Prepaid Payment Instruments (2026 Draft), with comments invited until 22 May 2026.

The National Company Law Appellate Tribunal delivered a landmark ruling on whether credit facilities restructured under RBI guidelines retain their secured status during liquidation proceedings without corresponding modification of charge registration. The judgment addresses the complex interplay between corporate debt restructuring, charge registration requirements under company law, and the insolvency resolution framework, establishing critical precedents for consortium lending practices.