FTX is suing Binance and its former CEO Changpeng Zhao for $1.8 billion, claiming that funds were fraudulently transferred when Binance sold its stake in FTX back in 2021. The lawsuit seeks to recover these funds for FTX’s creditors, alleging that the payment was improperly funded by FTX’s insolvent affiliate, Alameda Research. Binance has called the claims “meritless” and plans to defend itself. This marks another clash between the former crypto rivals after FTX’s collapse in 2022.
RBI now allows foreign portfolio investors (FPIs) to reclassify investments exceeding the 10% cap in an Indian company as foreign direct investment (FDI) instead of forcing a divestment. This move is aimed at easing business operations and boosting foreign investment, provided FPIs meet sectoral restrictions and obtain necessary approvals.
Starting February 1, SEBI requires qualified stock brokers (QSBs) to offer clients the option to trade using a UPI block or a 3-in-1 trading account (integrating trading, demat, and bank accounts), alongside existing fund transfer options. The 3-in-1 account allows funds or securities to be blocked at order placement, earning interest until pay-in.
Due to rising defaults in personal loans, credit cards, and microfinance, Indian banks are tightening unsecured lending by reducing credit limits, increasing credit score requirements, and lowering loan-to-value ratios.
Banks are now focusing on high-credit-score customers, avoiding high-risk segments, and limiting exposure to over-leveraged borrowers, especially in microfinance and among young millennials. The RBI has raised concerns about unsecured lending risks and excessive interest rates in the sector.
