ESMA, RBI in talks to reach pact compliant with EU regulations
The matter pertains to the Clearing Corporation of India - the Reserve Bank of India (RBI)-supervised body that hosts the platform for trading domestic government bonds. In October 2022, the ESMA had de-recognised the CCIL because the RBI did not permit rights of audit and inspection over the local clearing house, which acts as the official counterparty to billions of dollars of government bond trade.
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