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Mar 22, 2015

SEBI eases rules for banks to convert bad loans to equity

MUMBAI (Reuters) – Indian banks will be able to convert distressed loans owed by listed companies into equity stakes, the Securities and Exchange Board of India (SEBI) said on Sunday, in a move that will allow lenders to reduce bad loans weighing on their balance sheets.

India’s bad loans have risen sharply as its economic growth has been weak for two years.

Mar 22, 2015

Indian regulator eases rules for banks to convert bad loans to equity

MUMBAI, March 22 (Reuters) – Indian banks will be able to
convert distressed loans owed by listed companies into equity
stakes, the capital market regulator said on Sunday, in a move
that will allow lenders to reduce bad loans weighing on their
balance sheets.

India’s bad loans have risen sharply as its economic growth
has been weak for two years.

Mar 20, 2015

SEBI warns of penalties as board quota deadline nears

MUMBAI (Reuters) – Corporate India’s “shameful” failure to appoint enough women directors ahead of a deadline set by regulators for April 1 will result in “very serious” consequences for firms, the head of the Securities and Exchange Board of India (SEBI) said on Friday.

SEBI last year imposed a quota of one female director on the board of every listed firm. It extended the deadline once last year, but despite last-minute appointments, hundreds of firms, including several large state-owned companies, still fall short of the requirement.

Mar 20, 2015

India regulator warns of penalties as board quota deadline nears

MUMBAI, March 20 (Reuters) – Corporate India’s “shameful”
failure to appoint enough women directors ahead of a deadline
set by regulators for April 1 will result in “very serious”
consequences for firms, the head of the country’s market
regulator said on Friday.

The Securities and Exchange Board of India last year imposed
a quota of one female director on the board of every listed
firm. It extended the deadline once last year, but despite
last-minute appointments, hundreds of firms, including several
large state-owned companies, still fall short of the
requirement.

Mar 18, 2015

India to strip RBI of power to regulate government bonds

NEW DELHI/MUMBAI (Reuters) – India plans to strip its central bank of authority to regulate government bonds but leave it in charge of other money market instruments, setting the stage for a confrontation with Reserve Bank of India Governor Raghuram Rajan.

The move by Arun Jaitley’s finance ministry is part of an overhaul intended to expand bond markets by attracting retail investors and improve the transmission of monetary policy, three government sources told Reuters.

Mar 18, 2015

India to strip central bank of power to regulate government bonds

NEW DELHI/MUMBAI, March 18 (Reuters) – India plans to strip
its central bank of authority to regulate government bonds but
leave it in charge of other money market instruments, setting
the stage for a confrontation with Reserve Bank of India
Governor Raghuram Rajan.

The move by Arun Jaitley’s finance ministry is part of an
overhaul intended to expand bond markets by attracting retail
investors and improve the transmission of monetary policy, three
government sources told Reuters.

Mar 18, 2015

India plans IPO rule changes to lure homegrown start-ups: sources

MUMBAI (Reuters) – India’s market regulator is planning rule changes that will make it easier for homegrown start-ups to list their shares on local bourses, sources involved in the process said, helping domestic investors to bet on the country’s booming online economy.

While many of India’s largest online players are set to list in the coming year or two as they mature, none is currently expected to make its market debut at home. That could mean a significant loss for local exchanges and investors: marketplace Flipkart has prompted valuations of as high as $11 billion.

Mar 13, 2015

Tribunal slashes SEBI’s capital markets ban for DLF

NEW DELHI/MUMBAI (Reuters) РA tribunal has backed an appeal by property developer DLF Ltd(DLF.NS: Quote, Profile, Research) against the harshest punishment ever imposed by India’s market regulator, cutting a three-year ban from accessing capital markets that began last October to just six months.

The Securities and Exchange Board of India (SEBI) last year banned debt-burdened DLF for withholding key information at the time of its record-breaking public listing in 2007.

Mar 13, 2015

India tribunal slashes capital markets ban for property developer DLF

NEW DELHI/MUMBAI, March 13 (Reuters) – An Indian tribunal
has backed an appeal by property developer DLF Ltd
against the harshest punishment ever imposed by the country’s
market regulator, cutting a three-year ban from accessing
capital markets that began last October to just six months.

The Securities and Exchange Board of India (SEBI) last year
banned debt-burdened DLF for withholding key information at the
time of its record-breaking public listing in 2007.

Feb 28, 2015

Budget woos foreign investors with tax incentives

MUMBAI (Reuters) – India, keen to rekindle economic growth, wooed foreign investors on Saturday with a budget that delayed controversial rules to target tax avoidance and maintained lower taxes on income from debt investments.

The measures, part of the government’s budget for the next fiscal year, come amid growing concerns about foreign investors pulling cash out of India and other emerging markets should the U.S. Federal Reserve start raising interest rates this year.