Tuesday, April 3, 2012

RBI relaxes overseas direct investment norms

The Reserve Bank of India (RBI) has eased its overseas direct investment norms by waiving the need for Indian entities to seek its approval to open foreign currency accounts abroad.
The norm has been liberalised to provide operational flexibility to Indian entities, the central bank said in a statement on Monday.
However, all other norms required to open, hold and maintain foreign currency accounts for overseas investment remain unchanged, the statement said.

SEBI allowed exchanges to be listed

Market regulator SEBI today approved listing of stock exchanges , but with certain conditions which make the listing almost impossible to go through.
Clearing the decks for listing of stock exchanges, capital market regulator Sebi on Monday said 51 per cent stake of bourses could be held with public.
Listing will be restricted to those stock exchanges that address the conflict of interest between business expansion and their role as a frontline regulator. 
This was decided after considering the much-debated Bimal Jalan Committee recommendations which had not favoured listing of stock exchanges.
The Board, however, in its meeting here accepted several other recommendations of Jalan Committee on 'Review of Ownership and Governance of Market Infrastructure Institutions (MIIs)'

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