Corporate Updates – 11-04-2017


SEBI has prescribed the procedures for removal of names of Exclusively Listed Companies (ELCs) from Dissemination Board of Nationwide Stock Exchanges in the month of October, 2016 and last date has been extended twice upto 30-06-2017. SEBI has issued FAQ clarifying certain issues being faced by the Exclusively Listed Companies (ELCs) placed on Dissemination Board of Nationwide Stock Exchanges. It has been clarified that if the Exclusively Listed Companies (ELCs) shall be removed from the Dissemination Board (DB) of exchange, if the same is currently listed on Calcutta Stock Exchange. Further, if the company is under BIFR or in winding up, stock exchanges after obtaining the relevant documents may keep such companies on hold till the court proceedings are completed.


RBI has announced the Applicable Average Base Rate to be charged by NBFC-MFIs for the Quarter beginning April 01, 2017. The applicable average base rate to be charged by Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) to their borrowers for the quarter beginning April 01, 2017 will be 9.35 per cent. From now onwards the Reserve Bank will also advise the average of the base rates of the five largest commercial banks for the purpose of arriving at the interest rates to be charged by NBFC-MFIs to its borrowers in the ensuing quarter on the last working day of every quarter.

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