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Showing posts from December 5, 2018

RBI to inject Rs 10,000 cr through open market operations on Thursday

The Reserve Bank of India (RBI) Tuesday said it would inject Rs 10,000 crore into the system through purchase of government securities on December 6 to increase liquidity.The purchase will be made through open market operations (OMOs). "Based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward, the Reserve Bank has decided to conduct purchase of ... government securities under open market operations for an aggregate amount of Rs 100 billion on December 6, 2018 (Thursday)," the central bank said. The OMO operation will help ease tight liquidity situation triggered by a series of defaults by group companies of IL&FS. The eligible participants should submit their offers in electronic format on the RBI Core Banking Solution (E-Kuber) system on December 6. The result of the auction will be announced on the same day and payment to successful participants will be made on the following day The RBI also announced auction of a 1…

SEBI panel proposes direct listing of Indian firms on foreign bourses

An expert committee set up by the Securities and Exchange Board of India (SEBI) on Tuesday recommended that the market regulator allow listing of Indian companies on foreign exchanges even without getting listed in India. Such a framework would help Indian companies to access foreign capital at lower cost, said the report. Under the current regulations, any company incorporated in India but not listed on an Indian exchange is not permitted to list its shares on a foreign stock exchange. Similarly, companies incorporated outside India cannot directly list their equity shares on Indian stock exchanges. The committee in its 29-page report also advised the security markets regulator to allow foreign companies to get directly listed in Indian stock exchanges. SEBI has sought comments on the report by December 24 "Listing may be allowed only on specified stock exchanges in 'permissible jurisdictions'," read the report submitted to SEBI. A "permissible jurisdiction"…