SEBI is keen on delivery-based options in commodities, said a source familiar with the development.
The Securities and Exchange Board of India has begun drawing up a roadmap for listing and trading of security receipts issued by a securitization company or asset reconstruction company, on stock exchanges. The regulator is seeking the inputs of the Reserve Bank of India in framing the regulations.
The Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016, will not, however, apply to loans for agricultural land as well as student loans.
Three months after they failed to sell Kingfisher House, erstwhile headquarters of the defunct Kingfisher Airlines, the lenders have once again put up the property for auction with a lower reserve price of Rs 135 crore so as to part-recover their loans
Lenders to the grounded Kingfisher Airlines on May 13 started the process to take physical possession of Kingfisher Villa, which was pledged by beleaguered businessman Vijay Mallya to the bankers as collateral for over Rs 7,800-crore loan
Government amendments in these two acts will improve the recovery climate in the country, says HR Khan, Deputy Governor of The Reserve Bank of India.
An expert panel will be set up shortly to devise a strategy for consolidation of public sector banks as India needs stronger lenders rather than a "numerically large number" of them, Finance Minister Arun Jaitley said.
State Bank of India has mandated Knight Frank to sell property to an industrial house. SBI values the property at about Rs 95 crore. A total of 17 banks have exposure of Rs 7000 crore to KFA. SBI has an exposure of Rs 2000 crore.
Sanju Verma, CEO, Violet Arc Global believes no governor can tackle both inflation and exchange rate at the same time and Raghuram Rajan is trying to do just that. "If governor doesn‘t want the rupee to appreciate any further then he will have to allow inflation to rise or vice-versa."
Non-banking finance companies should be brought under the ambit of the SARFAESI Act to enhance investor confidence and ensure robust growth of the financial services sector, a study has said.
By: Krishnayan Sen, VERUS Advocates
Such companies are required to obtain, for the purpose of enforcement of security interest, the consent of secured creditors holding not less than 60 percent of the amount outstanding to a borrower as against 75 percent at present.
The survey said 29 per cent of the respondents estimated the actual potential of corporate bond market to be 10-12.5 percent of GDP while 14 percent of them believe the level to be at 7.5 -10 percent.
The government envisages Rs 56.3 lakh crore (about USD 1 trillion) investment in the infrastructure sector during the 12th Five Year Plan period.
Fitch Ratings has come out with its special research report on 'risks in lease rental discounting (LRD) loans'. As per the rating agency the failure to appreciate the inherent risks of LRD loans may leave market participants exposed to stress in commercial rental market in an economic downturn.