Posts in category Business Standard
ESMA should follow principle of mutual trust, cooperation: T Rabi Sankar (08-12-2023)
RBI dy governor says not comfortable extraterritorial jurisdiction regulations
Sebi is looking to create a new asset class, says Madhabi Puri Buch (08-12-2023)
Capital markets regulator Sebi is looking to create a new asset class -- which lies between mutual funds and portfolio management services (PMS) -- and the new product can cater to high-risk investors, its chief Madhabi Puri Buch said on Friday.
The Sebi chief said that there is a spectrum of asset classes for investors. Of these, "mutual funds are the highly retail investors, then you have in between a PMS and then you have AIF (alternative investment fund) for private equity".
"We feel there is room for an additional asset class somewhere between mutual funds and PMS... Sebi is looking into a whole new asset class," Buch told reporters here at the sidelines of a CII event.
In October, mutual funds industry body AMFI clarified that the idea of introducing a new asset class, which lies between mutual funds and PMS, was at a "very nascent stage".
According to the industry body, there was a deliberation within the industry for an instrument that caters to investors who are looking fo
Sebi chief deeply regrets failure to de-freeze shares in Kirloskar case (08-12-2023)
Sebi chief Madhabi Puri Buch on Friday said the capital markets regulator deeply regrets the failure to de-freeze the shares held by members of the Kirloskar family in Kirloskar Industries Ltd (KIL) despite the SAT's directive.
"I think what happened in terms of delay in de-freezing accounts was unacceptable. Whatever have been the cause and root cause, communications with the depository etc., Sebi was responsible, Sebi was accountable, we deeply regret what happened," Buch told reporters at the sidelines of the CII Global Economic Policy Forum here.
Further, she said that the Securities and Exchange Board of India (Sebi) has already initiated a full process review in this regard.
"Within 30-45 days. We will revamp the process. So that risk of this happening again is completely minimised," she added.
The comments came after the Securities Appellate Tribunal (SAT) pulled up Sebi on Monday for failing to de-freeze the shares held by members of the Kirloskar family in Kirloskar ...
India’s equity MF inflows moderate in November; SIPs hit new high (08-12-2023)
The inflows dropped 22.15% month-on-month to Rs 15,536 crore in November from Rs 19,957 crore in October, the data showed
GMR Airports hits 12-year high; GQG Partners likely buyer in block deal (08-12-2023)
Till 02:30 PM; as many as a combined 1,137.87 million shares or 18.85 per cent of total equity of the company changed hands on the BSE and NSE
Sugar shares extend fall; Balrampur, Dhampur, Praj tank up to 15% in 2 days (08-12-2023)
The central government has directed all sugar mills not to use sugarcane juice or syrup for making ethanol in 2023-24 season, as the sugar production expected to be down in this year.
Sebi to introduce ASBA-like facility for secondary mkt trading from Jan-Feb (08-12-2023)
To safeguard investors' money from misuse, an ASBA-like facility for trading in secondary markets will be available from January or February, Sebi chief Madhabi Puri Buch said on Friday.
This Application Supported by Blocked Amount (ASBA)-like facility already available for the primary market, ensures that the investor's fund gets moved only when the allotment is completed.
Now, the facility will be available for the secondary market from January or February, the Sebi chairperson said at the CII Global Economic Policy Forum here.
The move could also help investors to save as much as Rs 3,500 crore annually, she added.
Under the framework, funds will remain in the client's account but will be blocked in favour of the Clearing Corporation (CC) till the block mandate expires or till the block is released by the CC, or debit of the block towards obligations arising out of the trading activity of the client, whichever occurs first.
Further, settlement for funds and securities will be d
Foreign investors turn bullish on Indian stock futures after PM Modi’s wins (08-12-2023)
Overseas funds held 31,549 more long index futures contracts than short contracts as of Thursday, turning to a net bullish position a day earlier for the first time since September
Rate sensitive shares mostly higher as RBI holds repo rate; Auto pack lags (08-12-2023)
The RBI held the repo rate steady at 6.5 per cent and raised the FY24 GDP forecast to 7 per cent from 6.5 per cent
India moving towards T+0 for market settlement before end-FY24: Sebi (08-12-2023)
Currently trades in India are settled in "T+1" or one day after the trades are initiated. T+0 would mean settlements in the same day and instant settlement would ensure trades are settled immediately