RBI:
RBI on a review and based on feedback received from stakeholders, has partly modified and also clarified, some aspects of its Prudential Guidelines for Revitalising Stressed Assets in the Economy. Revision of Strategic Debt Restructuring (SDR) Scheme include reduction in the minimum percentage of shareholding to be initially divested by the lenders. RBI also clarified that flexible structuring of Project Loans would now also be permitted for ECBs. The revised guidelines will be applicable prospectively.
SEBI:
Securities and Exchange Board of India has clarified that the unclaimed redemption and dividend amounts, that are currently allowed to be deployed only in call money market or money market instruments, shall also be allowed to be invested in a separate plan of Liquid scheme / Money Market Mutual Fund scheme floated by Mutual Funds specifically for deployment of the unclaimed amounts. AMCs shall not be permitted to charge any exit load in this plan and TER (Total Expense Ratio) of such plan shall be capped at 50 bps. Investors who claim the unclaimed amounts during a period of three years from the due date shall be paid initial unclaimed amount along-with the income earned on its deployment. Investors, who claim these amounts after 3 years, shall be paid initial unclaimed amount along-with the income earned on its deployment till the end of the third year.
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