Skip to main content

Posts

Showing posts from August 27, 2018

New RBI Unit to Track Blockchain and AI EXPLORING NEW AREAS

The new unit will research, draft rules and supervise new emerging technologies in the future. The Reserve Bank of India (RBI) has formed a new unit within the central bank to beef up its own intellectual capital in the face of emerging technologies like cryptocurrency, blockchain and artificial intelligence. This new unit will research and possibly draft rules and supervise new emerging technologies in the future, two people familiar with the central bank’s plans said. “As a regulator, the RBI also has to explore new emerging areas to check what can be adopted and what cannot. A central bank has to be on top to create regulations. This new unit is on an experimental basis and will evolve as time passes,” said one of the people cited above. The unit is just about a month old as of now and though a chief general manager is identified to lead it, a formal announcement internally has not been made yet. An RBI spokesperson did not reply to an email seeking comment. Analysts said RBI is doi…

Sebi Plans ‘On Tap’ Bond Market

Market Regulator likely to let cos use stock exchanges to sell bonds directly to investors, including retail investors, any time and as many times during a financial year, after filing a single prospectus Sugata Ghosh & Reena Zachariah ‘Bond tap’, which gives corporates the flexibility to time the market, prune cost, and dramatically cut down on paperwork for raising money, will soon be a reality in India. Capital market regulator Sebi is preparing the ground to allow ‘on tap public issue of bonds’ — a mechanism that will let corporates use stock exchanges to sell bonds directly to investors, including retail investors, any time and as many times during a financial year, after filing a single prospectus. “After filing the tap bond issue prospectus, a corporate can decide when to enter the market. It can be multiple times during a financial year depending on the fund need and market appetite... as the name suggests, it’s turning the tap on or off. Such issuances could be a cheaper, …