Corporate Updates 12 April 2014


In order to protect the interests of investors in security market and to promote the development, SEBI has Partially Modified the circular MRD/DP/22/2013 dated July 08, 2013, and has restore the initial and extreme margins for USD-INR contracts to pre July 08, 2013 rates which was increased to 100% by SEBI in consultation with RBI. Provisions of this Circular will be implemented with effect from April 15, 2014.

Reserve bank of India: 

RBI has decided to create a separate category of NBFCs, with the name, Non-Operative Financial Holding Company (NOFHC). A company seeking registration as an NOFHC shall first have received an in-principle approval for setting up a commercial bank from the Reserve Bank. The application for registration of NOFHC shall be made with the requisite information and documents to Reserve Bank of India, DBOD, Central Office, Mumbai. The Certificate of registration for the NOFHC will be issued by DNBS, Reserve Bank of India. For detailed circular, please click here.

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