New norms for banking, commodities and markets sectors
A look at the recent rulings from banking, commodities and markets sectors that can affect you.
A look at the recent rulings from banking, commodities and markets sectors that can affect you.
BANKING
Scheduled commercial banks will have to adopt the National Disaster Management Authority guidelines and incorporate these in their loan policies and documentation. According to the Reserve Bank of India, these norms will apply to infrastructure projects, commercial buildings and housing structures.
COMMODITIES
The Forward Markets Commission, the commodity futures market regulator, has allowed member brokers to send contract notes in electronic format on specific request from clients. It had earlier made physical notes compulsory. All members of commodity bourses have to deliver contract notes to clients within 24 hours of transactions.
MARKETS
The Securities and Exchange Board of India (Sebi) has allowed share brokers to access client accounts with one-time authorisation. Share brokers can manage client accounts until it is revoked by the client. Earlier, the regulator had directed brokers to seek permission from clients to handle their accounts every year.
In an attempt to make more information available in the public domain on performance of asset pools on which securitised debt instruments (debt instruments such as loans which are listed on stock exchanges to raise money) are issued, the markets regulator has decided to put in place a listing agreement for securitised debt instruments which requires disclosure of investments and loans.
BANKING
Scheduled commercial banks will have to adopt the National Disaster Management Authority guidelines and incorporate these in their loan policies and documentation. According to the Reserve Bank of India, these norms will apply to infrastructure projects, commercial buildings and housing structures.
COMMODITIES
The Forward Markets Commission, the commodity futures market regulator, has allowed member brokers to send contract notes in electronic format on specific request from clients. It had earlier made physical notes compulsory. All members of commodity bourses have to deliver contract notes to clients within 24 hours of transactions.
| 7.8% was the growth recorded by Indian industries in 2010-11, against 10.5% in 2009-10. |
The Securities and Exchange Board of India (Sebi) has allowed share brokers to access client accounts with one-time authorisation. Share brokers can manage client accounts until it is revoked by the client. Earlier, the regulator had directed brokers to seek permission from clients to handle their accounts every year.
In an attempt to make more information available in the public domain on performance of asset pools on which securitised debt instruments (debt instruments such as loans which are listed on stock exchanges to raise money) are issued, the markets regulator has decided to put in place a listing agreement for securitised debt instruments which requires disclosure of investments and loans.
