Sebi – The News Desk

HDFC Bank goes live with NPCI-developed UPI in secondary market platform

1Jan

By adminNo Comments

Business

HDFC Bank goes live with NPCI-developed UPI in secondary market platform

On December 29, the NPCI had said the 'UPI for secondary market' facility will go live from January 1 in the Beta phase for the equity cash segment, with support from clearing corporations, stock exchanges, depositories, stockbrokers, banks, and UPI app providers. (Photo: Bloomberg) HDFC Bank has executed transactions via the NPCI's UPI payments app as part of the 'UPI for secondary market' facility, which which went live on Monday, the lender said in a statement. The move follows markets regulator Sebi allowing the facility through the UPI app developed by the National Payment Corporation of India (NCPI). Effective January 1, Sebi and the stock exchanges permitted trading in the cash segment through block mechanism, on an optional basis, for the secondary market on th...

Sebi: Same-day settlement can be optional

23Dec

By adminNo Comments

Business

Sebi: Same-day settlement can be optional

MUMBAI: Markets regulator Sebi on Friday proposed concurrent presence of the current T+1 settlement system in the stock market along with the proposed T+0 settlement system, to be replaced by an instant settlement system in a few months. To arrest any price distortion that may arise between the two settlement systems, Sebi also proposed a price band of plus/minus 100 basis points (100bps = 1 percentage point) for the same stock when traded under the two different settlement systems.It floated a consultation paper which said that investors on Dalal Street will have the option to choose under which of the two - T+1 and T+0/instant settlement - cycles they would put their trade.Under the current T+1 settlement system, the buyers and the sellers of stocks get their stocks in the demat account...

Sony, Zee have one-month grace period to complete $10 billion merger

21Dec

By adminNo Comments

Business

Sony, Zee have one-month grace period to complete $10 billion merger

Incidentally, all three channels belong to the Zee network By P R Sanjai and Debjit Chakraborty Sony Group Corp. and Zee Entertainment Enterprises Ltd. have a one-month grace period starting Thursday to close the merger of their India operations that will create a $10 billion media behemoth, according to people familiar with the matter. A 30-day period after the Dec. 21 deadline was included in the merger pact signed in 2021 if either party sought more time, said people familiar with the discussions who didn’t want to be identified as the information is private. Zee is hopeful of tying up loose ends before the grace period is over, they said. Mumbai-based Zee, however, requested for an extension in a Dec. 17 filing, without specifying how much time it was seeking. ...

Sebi streamlines criteria for grant of accreditation to investors

18Dec

By adminNo Comments

Business

Sebi streamlines criteria for grant of accreditation to investors

NEW DELHI: Capital markets regulator Sebi on Monday simplified the requirements for the grant of certification to accredited investors. A person or entity identified as an accredited investor based on net worth or income. Such investors can invest in securities that may not be available to retail investors. Under the framework, accreditation agencies, which are also KYC Registration Agencies (KRAs), can access Know Your Customer (KYC) documents of applicants available with them in the capacity of KRA and can also access the same from the database of other KRAs for accreditation, Sebi said in a circular. The accreditation agencies will grant accreditation solely based on the KYC and the financial information of the applicants. The certificate issued by accreditation agencies will include ...

India Moving Towards T+0 for Market Settlement Before End Of FY24: Sebi Chief

8Dec

By adminNo Comments

Business

India Moving Towards T+0 for Market Settlement Before End Of FY24: Sebi Chief

Published By: Mohammad HarisLast Updated: December 08, 2023, 12:36 ISTIndia Moving Towards T+0 for Market Settlement Before End Of FY24: SebiT+0 would mean settlements in the same day and instant settlement would ensure trades are settled immediatelyIndia is moving to set up same-day market settlement before the end of fiscal year ending March 2024 and subsequently to instantaneous settlement a year later, the chairperson of the country’s markets regulator said on Friday.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.“We are now moving to optionally T+0,” Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch told a...

Murky use of private credit funds may invite harsh regulatory scrutiny

6Dec

By adminNo Comments

Business

Murky use of private credit funds may invite harsh regulatory scrutiny

By Andy Mukherjee There are plenty of high-performing private investment vehicles in India, but it’s the few that are being set up for dubious purposes that may bring harsher regulatory scrutiny to the country’s most rapidly expanding asset class. So far, the most egregious use of these so-called alternative investment funds has been by nonbank finance companies, several of whom have employed these bespoke structures for pure regulatory arbitrage. When it looked like their big-ticket borrowers, especially real-estate projects, were going to default, some financiers took recourse to new funds tailormade for them by Wall Street firms. Investors who pooled money were issued senior securities, earning them interest. The finance company also contributed, but...

SCORES: Sebi Extends Deadline For Implementation Of New Norms

3Dec

By adminNo Comments

Business

SCORES: Sebi Extends Deadline For Implementation Of New Norms

SCORES is a grievance redressal system that was launched in June 2011.In September, Sebi came out with a circular with respect to handling complaints received through SCORES platform for registered entitiesMarkets regulator Sebi on Friday extended the deadline till April 1, 2024 for the implementation of the framework for handling complaints received through the SCORES platform for registered entities and for monitoring such grievances by designated bodies.The guidelines were come into force from December 4.The designated bodies are required to apply for SCORES authentication and/or for Application Programming Interface (API) integration with SCORES within a specified time period.“It has been decided to extend the effective date of implementation of the provisions to April 1, 2024,” the S...

Aif: Distressed loans: AIF route for global funds

30Nov

By adminNo Comments

Business

Aif: Distressed loans: AIF route for global funds

MUMBAI: Sebi-registered special situation funds, a type of alternative investment fund (AIF), will be permitted to purchase and sell distressed loans - an arena dominated by asset reconstruction companies, banks, and finance companies.This proposed development has the potential to reshape the stressed asset landscape by bringing in foreign capital, given that AIFs operate without stringent capital requirements and are subject to more relaxed regulations compared to entities regulated by RBI.On Tuesday, Sebi issued draft regulations paving the way for SSFs to buy and sell bad loans. While foreign funds are expected to enter this space, they may negotiate for higher discounts, recognising that investors in these funds are high-risk takers and willing to accept capital losses.The opening up ...

Sebi to Amend REIT, AIF Norms; Proposes Regulatory Framework for Index Providers

26Nov

By adminNo Comments

Business

Sebi to Amend REIT, AIF Norms; Proposes Regulatory Framework for Index Providers

Published By: Mohammad HarisLast Updated: November 26, 2023, 10:24 ISTSebi on Saturday decided to promote investments through Small and Medium REITs, enhance measures to protect interest of investors in Alternative Investment Funds (AIFs), provide flexibility for not-for-profit organisations in raising funds through social stock exchanges and also put in place regulatory framework for index providers. The decisions were approved at the meeting of the board of the Securities and Exchange Board of India (Sebi) here.Briefing reporters after the meeting, Sebi Chairperson Madhabi Puri Buch said the objective of the Small and Medium Real Estate Investment Trusts (SM REITs) is to help expand the market significantly so that more retail investors can have fractional ownership in REIT units. She ...

Sebi eases rules to aid small NGOs raise funds

26Nov

By adminNo Comments

Business

Sebi eases rules to aid small NGOs raise funds

Minimum Issue Size On Social Bourses Cut To 50LMUMBAI: The board of Sebi on Saturday relaxed some of the guidelines for small not-for-profit organisations (NPOs) and non-government organisations (NGOs) to tap the social stock exchanges (SSEs) to raise funds, including halving the minimum fund-raising size to Rs 50 lakh. The board also approved a regulatory framework for index providers “with the objective of fostering transparency and accountability in governance and administration of financial benchmarks in the securities market,” the market regulator said in a release.Sebi board also allowed small and medium real estate investment trusts (SM REITs), with a minimum asset value of Rs 50 crore, to tap the public market to raise funds.Currently, REITs are allowed for entities with an asset ...