The decisions above are to be implemented immediately. The status of implementation should be reported in the monthly D.O. letters and also through separate letters to the Division Chief, Market Intelligence Division of SEBI.
he stock exchanges are required to double their existing base minimum capital requirement for their members from Rs. 5 lakhs to Rs. 10 lakhs in the case of Bombay and Calcutta Stock Exchange, from Rs. 3.5 lakhs to Rs. 7 lakhs in the case of Delhi and Ahmedabad Stock Exchange and from Rs. 2 lakhs to Rs. 4 lakhs in the case of other stock exchanges.
Needless to mention that automation of stock exchanges is on priority agenda of SEBI. It is advised that all efforts are made to adhere to the schedule above for introduction of on-line trading system by the respective stock exchanges.
The major stock exchanges will set up Investor Information Centres to provide information about the rights and obligations of investors as well as about the listed companies on the stock exchanges.
