It was put on hold in 2008 after the global financial crisis.
Experts believe the new norms may be an indirect way for Sebi to apply the brakes on dividend option plans in MFs.
The finance ministry has put out an advertisement seeking applications from eligible candidates for the post and gave just two weeks against the usual practice of three months. Further, the tenure of the watchdog is again being extended to five years.
Private equity (PE) is set to play a bigger role in banks. Of 21 recommendations accepted by the Reserve Bank of India (RBI) out of 31 made by its Internal Working Group (IWG), its stance on non-promoter holdings in private banks is seen with excitement, though it doesn't refer to PEs explicitly. On non-promoter holdings in these banks, the RBI said this will be capped at 10 per cent of the paid-up voting equity share capital in the case "of natural persons and non-financial institutions and entities"; and "at 15 per cent for all categories of financial institutions, entities, supranational institutions, public sector undertaking, or the government." While this is a modification of the IWG's stance for the non-promoter holding in banks at up to 15 per cent, it does open up a huge window for PEs, all the same. This is because, while the RBI has remained silent on the eligibility of industrial houses for bank licences, fresh high-quality capital in large amounts can only come from PEs.
Being part of category-I implies lower compliance burden, simplified know-your-customer norms and documentation requirements, and fewer investment restrictions.
This year is set to be the third consecutive year when India's share of IPOs has fallen relative to the rest of the world.
The Securities and Exchange Board of India (Sebi) on Monday relaxed the norms for valuing perpetual bonds. The norms, which had sought to value banks' deemed residual maturity of Basel III additional tier 1 (AT1) bonds as 100-year debt from April 1, were strongly opposed by the finance ministry. In a statement released on Monday, the regulator said the maturity would be 10 years until March 31, 2022, and would be increased to 20 and 30 years over the subsequent six-month period.
India's stock exchanges are considering trading on February 28, the federal Budget day, which falls on a Saturday.
According to the new proposals, resident promoters or a foreign promoter from a FATF jurisdiction can set up a market infrastructure institution.
Sebi has asked intermediaries to stagger the offerings as much as possible, said people in the know and ensure adequate capacity building.
Mutual funds aspirants have the option of snapping up smaller AMCs or applying for a new licence.
The Sahara group apologised for its earlier advertisements expressing regret for 'unintentional wrongs, disrespectful feelings, hurt and annoyance.'
T'I am not going to buy small- or mid-cap stocks at very high valuations if it doesn't make sense for the investors.'
Typically, CCI takes decisions related to M&As within 30 days, though it can do so within 210 days of the filing of application.
The move will increase working capital requirement for brokers, raise the work load on the system and will leave little room for contingencies.
Murthy said moral weakness and incompetence of the chairman of the board are the main reasons behind corporate scams.
Lawyers say compensation may be an uphill task for investors because of a lack of judicial precedent and broader institutional difficulties.
Investing merely on the basis of past return can land you in trouble even in debt funds, a supposedly safe asset class, suggests Sarbajeet K Sen.
Operational and compliance challenges foreseen for fund houses in deducting tax at source, resulting in possible TDS mismatches and disputes with investors.
Through the IPO, Burger King has raised Rs 450 crore, which will be used to rollout new outlets and retire debt.
The big thing was inflating the revenue of the company through fake invoices.
Finance Minister Arun Jaitley's Budget 2014 allows retail investors in India to have an affordable, liquid and convenient way to invest in real estate.
Debt funds typically held 0-5 per cent of their portfolio in cash and cash equivalents before this Sebi diktat.
As per the assessment done by the RBI, the gross NPA of the SBI was 11,932 crore more at Rs 1,84,682 as against Rs 1,72,750 reported by the bank. As a result the bank has to make additional provisioning of Rs 12,036 crore in the balance sheet.
Regulator likely to probe possible violation of insider-trading norms.
The Zee saga will see a long-drawn-out court battle before shareholders get any chance to vote on any proposal by the management or Invesco, says Prosenjit Datta.
Stick to low-cost ULIPs launched in the past few years. Go with an insurer with a good investment team and solid track record of long-term returns, suggests Sanjay Kumar Singh.
The market regulator is seeking help from its peers in Mauritius, the UK and the US to solve the high-profile money laundering case involving Sahara chief Subrata Roy.
As a multi-agency probe into the NSE case gathers pace, the grant of preferential server and data access to select brokers and their suspected misuse are being investigated threadbare to unveil all quid pro quo arrangements in a highly-sophisticated scheme that worked like a cricket betting scandal, officials said on Monday. While the bourse has said it has taken several steps over the years to strengthen its technology infrastructure, including as per regulatory orders, the officials said certain fresh disclosures call for a detailed probe into whether a select group of individuals in high positions had banded together to make illicit gains by facilitating the preferential trading slots, beginning over a decade ago. Even a split-second faster access is said to result in huge gains for a trader.
Future Retail Ltd has said that SEBI's one-year ban on its chairman Kishore Biyani and some other promoters from the securities market will have "no impact" on the Rs 24,713 crore-deal with Reliance. Further, Kishore Biyani, some other promoters and Future Corporate Resources Pvt Ltd (FCRPL) plan to appeal against the order passed by Securities and Exchange Board of India (SEBI) on Wednesday. "The order will have no impact on the ongoing Scheme of Arrangement of the company. We understand that the relevant parties propose to challenge this order in exercise of their statutory right to appeal," Future Retail Ltd (FRL) said in a late-night regulatory filing on Wednesday.
Finance Minister Nirmala Sitharaman presented her third Budget on February 1.
The Securities and Exchange Board of India (Sebi)'s decision to require a minimum of 25 per cent public shareholding for government companies translates into around Rs 60,000 crore (Rs 600 billion) in divestments in the next three years.
The assets in control of MFs soared to a record high of Rs 17.9 lakh crore last month
The 30-share Sensex ended at 21,101.03, up 21 points higher from its previous close and the borader 50-unit Nifty gained 10 points at 6,284.50.
BSE Small-Cap and Mid-Cap indices were up more than 1% each, with both these indices outperforming the Sensex today.
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Thursday said it has no intention to sell a part of its stake in Petronet LNG Ltd and Indraprastha Gas Ltd (IGL) to help its new owner avoid making an open offer for the two gas companies. BPCL holds 12.5 per cent of the shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions.
Faster account opening, which allows investors to start trading without ever leaving their homes or visiting a physical branch of their local brokerage has played a role in the surge.
The criteria for allowing companies to avail of this provision will include profitability, networth, paid-up capital, and turnover.
At present, the EPFO is mandated to invest 20-45 per cent of its incremental funds - of around Rs 1.5 trillion - in debt-related instruments.
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