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In recent talks with foreign banks operating in India, Bank of England (BoE) is said to be strongly considering deferring the de-recognition of the Clearing Corporation of India (CCIL), with the overseas regulator mulling at least a two-year extension of the deadline, sources said.
“It seems very likely that the June 30 deadline that was given by BoE will now be postponed, based on the latest discussions with overseas regulators. That could also put some pressure on the ESMA (European Securities and Markets Authority) regarding the issue,” a source aware of the developments told Business Standard.
Documents surveyed by Business Standard showed
