KAPUR PANEL RECOMMENDS INFRASTRUCTURE FUND FOR SSIs

Article Abstract:

The Reserve Bank of India (RBI) is to examine the working of credit delivery for small scale industries. The SL Kapur Committee appointed by RBI has recommended that small scale industries (SSIs) should not be asked to provide collateral securities for loans up to Rs200,000. It has suggested the setting up of a collateral reserve fund to support entrepreneurs besides the formation of a small Industries Infrastructure Development Fund. It has also suggested a change in defining sick SSIs, and special treatment to smaller SSIs. It also advocates doing away with difficult procedures in giving advances to SSIs. The Committee has also recommended that state level inter institutional committees be given statutory powers. (uh)

Comment:

India: Reserve Bank of India is to examine the working of credit delivery for small-scale industries

Financial Regulation NEC, Financial services, Commercial law

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DAVE PANEL FIXES Rs10-CR LIMIT TO FLOAT PLANTATION SCHEMES

Article Abstract:

The Securities and Exchange Board of India (Sebi) had set up the SA Dave Committee to frame norms for collective investment schemes (CIS) for plantation. This panel has fixed a minimum net worth of Rs10 crore for launching new plantation schemes. The new norms ban collective investment schemes from guaranteeing investors assured returns. The committee has recommended a 2-tier structure for collective investment schemes. The structure is to have a firm to manage assets and trustees to act as regulators. The trustees of collective investment schemes are required to be registered with Sebi. The present collective investment schemes have been allowed 3 years to adopt the 2-tier structure. (gs/kvr)

Investor Protection & Disclosure, Disclosure (Securities law), Investor relations

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ADR, GDR HOLDERS NOW ENTITLED TO BONUS, RIGHTS

Article Abstract:

The Finance Ministry of the Government of India has allowed holders of American Depository Receipts (ADRs) and Global Depository Receipts (GDR) the benefits of bonus and rights issues. The new guidelines also allow the issue of bonus and rights shares in case of mergers and amalgamations done under the supervision of the Indian high courts. The companies will have to secure the approval of the Department of Economic Affairs for issuing GDRs/ADRs. (ag)

Comment:

India: Finance Min allows holders of American Depository Receipts & Global Depository Receipts benefits of bonus & rights issues

Securities & Commodities Regulatn

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