SEBI proposes to allow superior voting rights shares to be issued to trusts and other corporate structures and to tweak other requirements.
FIs are asked to instead use 'any widely accepted ARR'. Currently, there is no consensus on a new ARR for India. SOFR is widely expected to be accepted.
The move is part of efforts to improve efficiency in the use of the margin capital and enhance market liquidity.
Cooperative banks should not outsource policy formulation, internal audit, KYC compliance, credit approval and portfolio management.
Liquid assets requirements imposed in November mean that asset allocation limits only apply to the non-liquid portion of portfolios.
The dividend ratio will be capped at 50 to 60 percent of a deposit-taking NBFC's profits, depending upon the nature of the business.
SEBI says mutual fund schemes may enter into plain vanilla interest rate swaps for hedging purposes.
The initiative will eliminate paperwork, reduce transaction processing time and offer a secure environment for processing LCs.
To allow SPACs in India, SEBI would have to either introduce a separate law or amend current regulations.
All deposit-taking HFCs irrespective of size, and non-deposit-taking HFCs with at least INR 50 billion in assets, have to put in place an RBIA framework.
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