In this connection, please refer to paragraph 2 (iii) (b) of our Circular UBD.(PCB) BPD.Cir.No. 46/16.20.000/2008-09 dated January 30, 2009 on investments in Non-SLR securities by Primary (Urban) Co-operative Banks (UCBs), in terms of which investments in unlisted securities (subject to the minimum rating prescribed) should not exceed 10 percent of the total Non-SLR investments at any time. Where UCBs have already exceeded the said limit, no further investment in such securities will be permitted.
Recent events in global financial system have underlined the pivotal role that credit ratings play. Effective use of credit ratings by the users is crucially dependent upon quality and quantity of disclosures made by the Credit Rating Agencies (CRAs). There have been widespread consultations on the issue both globally and within India and several documents have been prepared.
It is observed from the information provided by the depositories that the companies listed in Annexure ‘A’ have established connectivity with both the depositories during January 2010. The stock exchanges may consider shifting the trading in these securities to normal Rolling Settlement subject to the following:
Based upon the insurance related data as of year ending March 31, 2010 and related discussions, the Authority issues the following clarifications in continuation of the ULIP guidelines “Guidelines on Unit Linked Products” issued vide Circular No. 032/IRDA/Actl/Dec-2005 dated 21.12.2005:
In this connection, we advise that apart from Credit Information Bureau of India Ltd., (existing credit information company in operation since January 2001) DBOD has recently issued certificate of registration to Experian Credit Information Company of India Pvt. Ltd. and Equifax Credit Information Services Pvt. Ltd. on February 17, 2010 and March 26, 2010 respectively to commence the business of credit information. The addresses and other details of the companies are given below.
Reserve Bank of India (RBI) vide A. P. (DIR Series) Circular no. 47 dated April 12, 2010 has permitted FIIs to offer domestic Government Securities (acquired by the FIIs in accordance with the provisions of Schedule 5 to Notification No. FEMA 20/2000-RB dated May 3, 2000, as amended from time to time and subject to the overall limits specified by the SEBI from time to time; the current limit being USD 5 billion), and foreign sovereign securities with AAA rating, as collateral to the recognized Stock Exchanges in India,
Further to SEBI circular no. SEBI/DNPD/Cir-35/2007 dated January 15, 2008 with regard to introduction of Volatility Index, it has now been decided to permit Stock Exchanges to introduce derivative contracts on Volatility Index, subject to the condition that;
On receipt of application, concerned RA shall send a copy of the application to National Rifle Association of India for their comments. After receipt of comments from the National Rifle Association of India, RA shall issue licence to the applicant. (ii) After issue of licence, RA shall forward a copy of licence to National Rifle Association of India with reference to their written recommendation for information.
SEBI has put in a framework for setting up of new exchange or separate platform of existing stock exchange having nationwide terminals for SME (hereinafter referred to as the ‘Exchange/ SME Exchange’). In order to operationalise the said framework, necessary changes have been made to applicable Regulations, circulars etc. As per the framework, market making has been made mandatory in respect of all scips listed and traded on SME exchange. The following guidelines shall be applicable to the Market Makers on this exchange.
I am directed to refer to Board’s Circular No. 14/2003-Cus dated 6.3.03 whereby the work related to fixation of Brand rates of Duty Drawback was decentralized. Para 5 of the said Circular stated that the Ministry would continue to consider and dispose off all residual pendency relating to the Brand rate applications. More than 7 years have passed since the issue of this Circular, but still at times requests are received in the Board relating to brand applications filed by the exporters prior to the decentralization of this work in 2003.
