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NSICL,SIDBI,Axis Bank Get TReDS Approval

New Delhi (ABC Live): In the Union Budget for 2015-16 the Honourable Union Finance Minister had highlighted the need for and use of TReDS for improving flow of funds to MSME sector by reducing the receivables realisation cycles. TReDS will allow SMEs to post their receivables on the system and get them financed. This will not only give them greater ... Read More »

NPCI to Function as Bharat Bill Payment Central Unit

New Delhi (ABC Live): The Reserve Bank of India has today decided to grant ‘in principle’ approval to the National Payments Corporation of India (NPCI) to function as the Bharat Bill Payment Central Unit (BBPCU) in BBPS. The Bharat Bill Payment System (BBPS), an integrated bill payment system, will function as a tiered structure for operating the bill payment system ... Read More »

Sovereign Gold Bonds 2015-16 Issued

New Delhi (ABC Live): The Reserve Bank of India, in consultation with Government of India, had notified the issuance of Sovereign Gold Bonds, 2015-16 vide circulars IDMD.CDD.No. 939/14.04.050/2015-16 dated October 30, 2015 and IDMD.CDD.No. 968/14.04.050/2015-16 dated November 4, 2015. The first tranche of Sovereign Gold Bonds was open for subscription from November 5 to November 20, 2015. The bonds were to be issued ... Read More »

SEBI Signs MoU with BSEC

Mumbai (ABC Live): Securities and Exchange Board of India (SEBI) and the Bangladesh Securities and Exchange Commission (BSEC) signed a Memorandum of Understanding (MoU) on bilateral cooperation and technical assistance at Dhaka, Bangladesh on November 22, 2015. The MoU was signed by Shri U.K. Sinha, Chairman, SEBI and  Dr. M. Khairul Hossain, Chairman, BSEC in the presence of the Hon’ble ... Read More »

OPEC Tries to Settle Price War with Shale Oil

New Delhi (ABC Live): OPEC decided to maintain its production ceiling at 30 million barrels a day in a meeting held in Vienna on Friday. The decision was  taken to carry on  the strategy of unconstrained oil production, as it is seeking to battle for its market share and curb production from high-cost U.S. shale instead of bolstering the oil ... Read More »

FSLRC to Rewrite Financial Laws in India

Financial Redress Agency New Delhi (ABC Live): The Indian Government has plan to sets-up a Task Force to lay the roadmap for setting-up of Financial Redress Agency (FRA) as recommended by the Financial Sector Legislative Reforms Commission (FSLRC). The Constitution of the Task Force has been put in public domain on the website of the Ministry of Finance (www.finmin@nic.in). The ... Read More »

Russia to Amend its Law,WTO Membership Terms to Compensate for Seized Property in Foreign States

New Delhi (ABC Live): The Russian government is all set amend federal law to arrest property of foreign states and entities and receive compensations for seized property of Russian citizens on the territory of foreign states. Deputies of the State Duma received bill № 607554-6, which stipulated amendments to the federal law “On compensations for the violation of the right to ... Read More »

SEBI Notifies REIT Regulations 2014

New Delhi (ABC Live): The SEBI (Real Estate Investment Trusts) Regulations, 2014 (“REIT Regulations”) have been notified, vide notification No. LAD-NRO/GN/2014-15/11/1576 dated September 26, 2014 http://www.sebi.gov.in/cms/sebi_data/attachdocs/1411722678653.pdf In exercise of the powers conferred by section 30 read with section 11 and 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), laying down a framework for Real ... Read More »

SEBI Notifies InvIT Regulations 2014

New Delhi (ABC Live): The SEBI (Infrastructure Investment Trusts) Regulations, 2014 (“InvIT Regulations”) have been notified, vide a notification no  LAD-NRO/GN/2014-15/10/1577 dated September 26, 2014 http://www.sebi.gov.in/cms/sebi_data/attachdocs/1411722495005.pdf In exercise of the powers conferred by Section 30 read with Section 11 and 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), laying a framework for Infrastructure Investment ... Read More »

RBI Allows 100 per cent Portfolio Investment in TD Power Systems Ltd

New Delhi (ABC Live): The Reserve Bank of India has today advised that foreign institutional investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now purchase up to 100 per cent (revised from earlier limit of 49 per cent) of the paid up capital of M/s TD Power Systems Ltd. under the Portfolio Investment Scheme. The Reserve Bank has stated that the company has passed ... Read More »