The Indian case is similar to one Google faced in Europe, where regulators imposed a $5 billion fine on the company.
Ride-hailing decacorn Grab is reportedly gearing up to apply for a digital-only bank licence.
Rest of Asia
The reform comes amidst renewed focus on shareholder rights.
Sebi widens definition of ‘encumbrance’ to include negative lien, pledge and non-disposable undertakings.
Despite the potential benefits of Libra, concerns raised about the way it would function are “not trivial,” MAS managing director Ravi Menon said.
Singapore has not ruled out allowing telecoms companies to use Huawei technology in their new 5G systems.
The move comes as the government tightens its control over the $38 billion industry.
Huawei said that the patent talks should not be politicized.
The regulator's move comes amid allegations of Singapore Telecommunications’ Optus misleading consumers.
A previous RBI directive was silent on whether data can be processed abroad or should only be done locally.
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