Thursday, November 19, 1998
New NPA provisioning norms for mutual funds on the cards
The committee set up to evolve guidelines to recognise non-performing assets (NPAs) in mutual funds is likely to submit its report to the Association of Mutual Funds in India (AMFI) within 4-6 weeks. The committee will also draft guidelines on provisioning of NPAs and their disclosures.
Stringent norms for buyback through SEs
The Securities and Exchange Board of India has laid down stringent norms for buyback of shares through the stock exchange route. The regulations are so stringent that the benefits of buying from the market may be difficult in practice.
RBI asks BSE to reduce settlement cycle for trading in gilts
The Reserve Bank of India (RBI) has asked the Bombay Stock Exchange (BSE) to reduce the settlement-cycle for trading in government securities to five days. This is a necessary pre-condition for the clearance of BSE's application for trading in government dated securities.