Corporate Updates 04 June 2014


SEBI has reviewed the Securities Lending and Borrowing (SLB) Framework on the basis of suggestions received from market participants. Accordingly, the Authorised Intermediary (AIs) shall enter into an agreement with Clearing Members (CMs) for the purpose of facilitating lending and borrowing of securities and shall specify the rights, responsibilities and obligations of the parties to the agreement and agreement to include suitable conditions in the agreement to have proper execution, risk management and settlement of lending and borrowing transactions with clearing member and client. Stock Exchanges and Depositories are also advised to follow certain guidelines.


RBI has decided to reduce the eligible limit of Export Credit Refinance (ECR) facility for schedule banks (excluding RRBs) from the level of 50 per cent of the outstanding rupee export credit eligible for refinance as at the end of the second preceding fortnight to 32 per cent with immediate effect. In this connection the reporting format appearing in Annex III of the Master Circular No.MPD. 366/07.01.279/2013-14 dated July 1, 2013 is accordingly modified.

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