Corporate Updates – 29-01-2015


SEBI has passed orders to provide exit to the Gauhati Stock Exchange Limited under the current policy. GSE is the ninth Stock Exchange to exit under this policy. SEBI vide Circular dated May 30, 2012 had issued the Guidelines for exit of stock exchanges. This contained details of the conditions for exit of de-recognised /non-operational stock exchanges, inter–alia, including treatment of assets of de-recognised /non-operational exchanges and a facility of dissemination Board for companies listed. Further, the Income Tax Authorities, Ministry of Corporate Affairs and the State Government of Assam are being intimated about the exit of GSE, for appropriate action at their end.


RBI with an intention to Simplify the Procedures and Processes for Obtaining Agricultural Loans, has advised the Banks to dispense with the requirement of ‘No Due Certificate’ for small loans up to Rs.50,000 to small and marginal farmers, share-croppers and the like and, instead, obtain self-declaration from the borrower. However in order to ensure hassle free credit to all borrowers, especially in rural and semi-urban areas and keeping in view the technological developments and the different ways available with banks to avoid multiple financing, banks are advised to use an alternative framework of due diligence as part of credit appraisal exercise other than the ‘No Due Certificate’.

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