In view of the recent measures adopted to provide more flexibility to the Authorised Persons in selecting the location for their branches, it has now been decided to remove the criteria relating to increase in outreach and locational advantage while considering the applications for issuance of fresh licenses for Full Fledged Money Changers (FFMC).
Insurance companies are required to conduct detailed due diligence while taking insurance risk exposure to individuals/entities connected with countries identified by FATF as having deficiencies in their AML/CFT regime …
Vide SEBI circulars Cir/IMD/DF/14/2011 and Cir/IMD/FII&C/3/2012 dated August 09, 2011 and January 13, 2012 respectively, Qualified Foreign Investors (QFI) were allowed to invest in schemes of Indian mutual funds and Indian equity shares subject to terms and conditions mentioned therein, including opening a demat account with qualified Depository Participant. The eligibility criteria for a SEBI registered Depository Participant (DP) to act as qualified Depository Participant were provided in the aforementioned circulars.
Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000, notified vide Notification No. FEMA 3/2000-RB dated May 3, 2000 and the A.P. (DIR Series) Circular No. 5 dated August 1, 2005 relating to the External Commercial Borrowings (ECB), as amended from time to time.
It has now been decided that the designated AD Category – I banks should certify the leverage ratio (i.e. outside liabilities/owned funds) of IFCs desirous of availing ECBs under the approval route while forwarding such proposals to the Reserve Bank of India.
The Reserve Bank in its Third Quarter Review of Monetary Policy 2011-12 issued on January 24, 2012, decided to reduce the Cash Reserve Ratio (CRR) of Scheduled Primary (Urban) Co-operative Banks by 50 basis points from 6.00 per cent to 5.50 per cent of their net demand and time liabilities (NDTL), with effect from the fortnight beginning January 28, 2012.
The Internet Service Provider for website of the Maharashtra Sales Tax department is M/s Airtel Major fire broke out in one of the network centers of the said service provider on 27.12.2011. Due to the fire, the web site www.mahavt.gov.in was not available through internet from 27/12/2011 to 30/12/2011.
CIRCULAR No. MRD/DP/ 01/2012, dated 20-1-2012 -SEBI, vide circular no. CIR/MRD/DP/21/2010, dated July 15, 2010, introduced Call Auction in Pre-open session (hereinafter referred to as “pre-open session”) for the scrips forming part of Sensex and Nifty. Further, SEBI, vide circular no. CIR/MRD/DP/32/2010, dated September 17, 2010 and vide letter dated September 17, 2010 provided clarification with regard to order matching and order level risk management.
SEBI vide circular no. SMD/SED/RCG/271/96, dated January 19, 1996, inter-alia, prescribed no price bands for scrips on the first day of trading pursuant to IPO. Further SEBI vide circular no. SEBI/Cir/ISD/1/2010, dated September 2, 2010, inter-alia, prescribed no price bands on the first day of re-commencement of trading for scrips specified under para 1(c) (hereinafter referred to as Re-listed scrips) of the said circular.
SEBI, vide circular Ref. No. SMD/POLICY/CIR-32/97, dated December 03, 1997 had mandated all stock exchanges to open/maintain at least one investor service centre for the benefit of the public/Investors. Such centres are required to inter alia provide counseling service to the investors. It is also noted that some stock exchanges have constituted Investor Grievance Redressal Committees (IGRC) for redressal of investor grievances.
