Markets regulator Sebi has simplified the procedural requirements for onboarding of Foreign Portfolio Investors (FPIs) in a bid to facilitate ease of doing business and to reduce the time taken for their registration. The regulator allowed designated depository participants (DDPs) to grant FPI registration on the basis of scanned copies of application forms and supporting documents, according to a circular issued on Monday. Granting of registration on the basis of scanned copies has been allowed but trading can only be activated following the verification of the physical documents, it said.
Posts tagged Rediff
US banking turmoil: ADRs of Domestic Banks Impacted (28-03-2023)
Analysts say domestic banks’ dependence on local depositors insulates them from the crisis.
Will markets reclaim March glory? Analysts weigh in (28-03-2023)
Historically, March has been a volatile month for Indian equity markets. To begin with, it marks the end of a financial year, wherein there is some compulsive portfolio rebalancing trade by large funds – domestic and foreign. Retail investors, too, prefer to ‘cash in’ on their gains and losses before the financial year runs out.
UBS buy gives Credit Suisse India staff some hope (28-03-2023)
UBS stepping in to save Credit Suisse with a $3.2-billion acquisition has provided the beleaguered Swiss bank’s India employees a glimmer of hope. The surprise deal – engineered by the Swiss government – has triggered optimism of fewer job losses at Credit Suisse’s India unit and better synergies at key verticals, such as wealth management and investment banking. “UBS is a much stronger hand. Coming within its fold will give Credit Suisse’s wealth management and investment banking divisions a good home.
Metal stocks: Buying opportunity or a deeper fall? (28-03-2023)
Given wild swings, investors are wondering where the metal market is going. There was a strong uptrend in industrial metal through much of the last three years due to fears of supply chain issues – first due to Covid-19 and then due to the Ukraine War. That uptrend broke down as it became apparent that global growth would moderate as inflation rose and Western Europe (the EU plus the UK) went into a near-recession and China was in a rolling lockdown.
EPF interest rate fixed at 8.15% for FY 2022-23 (28-03-2023)
Retirement fund body EPFO fixed 8.15 per cent rate of interest on employees’ provident fund (EPF) deposits for 2022-23 at its meeting on Tuesday. In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent in 2020-21. This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent.
‘SIP Inflows Remained Robust’ (28-03-2023)
‘Although mid- and small-cap funds have the potential for higher growth, they come with inherent higher volatility.’
Luxury Carmakers Eye Small Towns (28-03-2023)
Many of these companies have a waiting period from 6-18 months now, indicating a rise in demand.
‘Growth Rate May Come Down To 3-4%’ (28-03-2023)
‘The government should act proactively to instil confidence in the private investors, and also boost the purchasing power of people directly or indirectly by ensuring minimum wages.’
HDFC gets board’s nod to raise Rs 57K cr through NCDs (27-03-2023)
Mortgage lender HDFC Ltd on Monday said its board has approved raising funds through non-convertible debentures (NCDs) in tranches aggregating to Rs 57,000 crore. The board has cleared issuance of unsecured, redeemable, non-convertible debentures under a Shelf Placement Memorandum, aggregating Rs 57,000 crore, in various tranches, on a private placement basis, HDFC said in a regulatory filing. This is in accordance with the approval granted by the shareholders of the HDFC at the 45th annual general meeting held on June 30, 2022, it said.