Will mull bringing under own ambit all financial products from abroad sought to be sold to Indians.
Prior to this assignment, he held the position of chief general manager in Reserve Bank of India and was heading the department of banking operations and development. During his stint in the RBI, he has had a wide experience in regulatory and other functions.
Securities and Exchange Board of India may soon launch a full-fledged investigation into the alleged violation of mutual funds regulations by JM Mutual Fund while dealing in government securities.
A sluggish industrial growth has impacted the corporate bond market, too.
Finance Ministry meets market participants, wants feedback.
The ministry on Thursday discussed the issue with participants of the debt market to enlist views for widening the corporate bond market.
Both the Securities and Exchange Board of India and the Reserve Bank of India were trying to find if Puri was also involved in front-running and used his information on positions taken by Citi for placing bets, said an official with one of the regulators.
Recent measures by the Reserve Bank of India and the Securities and Exchange Board of India are being seen by observers as an attempt to reverse the inexorable decline of the rupee.
Indiabulls has received Sebi's approval to enter the mutual fund operations.
The issue has gained importance as a working group of International Organisation of Securities Commission (IOSCO) has been set up to study the impact of private equity funds on emerging markets.
The offer is to close on April 26 and the price is fixed at Rs 1,440 a share.
The move comes a full four years before the deadline set by the Reserve Bank of India.
The government is likely to restrict foreign direct investment in stock exchanges to 49 per cent. This follows a Reserve Bank of India suggestion for limiting FDI in stock exchanges some time ago.
Financial conglomerates neither have group-wide oversight mechanisms nor do they follow enterprise-wide risk management practices, according to the findings of a monitoring exercise by the Reserve Bank of India (RBI), Securities and Exchange Board of India (Sebi) and Insurance Regulatory and Development Authority (Irda).
India may soon have a database for international transactions, particularly those routed through nations with which New Delhi has tax avoidance pacts, to check non-payment of taxes, if a proposal by a government panel has its way.
The move follows concerns raised by the Reserve Bank of India. According to sources, the central bank is concerned that most sovereign wealth funds operate in a non-transparent manner.
Airports across the country witnessed chaotic scenes on Friday after dozens of flights were either delayed or cancelled after a widespread global computer outage that also hit operations like cash withdrawal at some banks, and impacted functioning of some brokerages. Globally, the Microsoft cloud outage led to US airlines cancelling flights, but the tech giant later reportedly said its cloud services outage in the Central US region has been resolved.
According to RBI sources, the government -- which appoints deputy governors -- is of the view that it will do away with the practice of reappointment to important posts like chairman of the Securities and Exchange Board of India, RBI, National Bank for Agriculture and Rural Development.
The mutual fund (MF) industry had an action-packed 2023 as it tackled the scrapping of tax benefits for debt fund investors and surging flows into equity funds.
Security and Exchange Board of India Chairman C B Bhave and representatives from the Reserve Bank and Corporate Affairs Ministry are likely to brief parliamentary standing committee on finance about the latest developments in the Satyam fraud case, at a meeting called on Wednesday to discuss the issue.
What needs to be done to make Mumbai even more attractive is to provide more residential accommodation and faster transport to the southern end of the city (Nariman Point), which is the Manhattan of India.
Since March 2020, when the Nifty50 plummeted to 7,511 following the announcement of a nationwide lockdown, the stock market has been on an upward trajectory. Over the next four years, the major market index has delivered a remarkable compounded annual growth rate (CAGR) of over 31.5 per cent. In the past year alone, the Nifty50 has gained by 27 per cent, hitting a succession of record highs.
A top Sebi official on Friday criticised the RBI's "conflicting" roles as a regulator of the government securities market and as a market participant, suggesting that Sebi was better suited for the regulatory function.
The Securities and Exchange Board of India (Sebi) has proposed that at least 10 per cent of corporate bond market trades by foreign portfolio investors (FPIs) should be done on the request for quote (RFQ) platform. At present, most trades in the corporate bond market are over-the-counter (OTC), creating a lot of opacity. The markets regulator has been nudging debt market participants such as mutual funds (MFs), alternative investment funds (AIFs) and brokers to use the RFQ platform to boost secondary market liquidity and transparency.
Tactical investors should have an investment horizon of around six months to one year, long-term investors should stick around for 10 years or more.
Through the UB Group, Mallya holds 21.98 per cent stake in MCF.
The buoyant foreign capital flows in debt instruments since the beginning of 2010 could weigh on the Reserve Bank of India's decision on whether to raise policy rates.
The Investors' Grievances Forum on Wednesday charged the Reserve Bank of India with continued cover-up operation in the IPO scam instead of nailing down the scamsters.
Finance Minister Jaswant Singh on Monday swung into action asking the RBI and the Sebi to take necessary action to improve the health of the bourses following the unprecedented crash that wiped out huge sums of market capitalisation.
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