Corporate Updates – 31-01-2017


SEBI has issued Procedures for Exchange Listing Control Mechanism. Regulation 45 of the SECC Regulations provides for listing of stock exchanges on any recognised stock exchange, other than itself and its associated stock exchange. It has been decided that the Listing Department of the listing stock exchange (i.e. a stock exchange on which the listing is done) shall be responsible for monitoring the compliance of the listed stock exchange (i.e. a stock exchange which is getting listed) as in the case of listed companies. The Independent Oversight Committee of the listing stock exchange shall exercise oversight at the second level to deal with the conflicts, if any. An independent Conflict Resolution Committee (CRC) constituted by SEBI, with an objective for independent oversight and review, shall monitor potential conflicts between listed and listing stock exchange on a regular basis. The listed stock exchange aggrieved by the decision of the Independent Oversight Committee of the listing exchange may appeal to the CRC.


RBI has decided to partially withdraw the cash withdrawal limits placed on Current Accounts/Cash Accounts/Over draft Accouts with immediate effect. The limits on Savings Bank accounts will continue for the present and are under consideration for withdrawal in the near future. Further, form 1st February, 2017 onwards, cash withdrawal from ATM will have no Limits. Further, banks are urged to encourage their constituents to sustain the movement towards digitization of payments and switching over of payments from cash mode to non-cash mode.

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