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Dear
Members
Volatility ruled the roost as the
Indian bourses recovered last weekend, tracking gains in global stocks.
On regulatory front, starting April 1st,
banks will have to adopt the “Base Rate” system in place of the current
“Benchmark Prime Lending Rate” system. This will be the minimum rate for
all commercial loans and would be applicable for all new loans and
renewals.
SEBI released circulars on "Master
Circular on Anti-Money Laundering (AML) and Combating Financing of
Terrorism (CFT) Standards" & "Committee for review of
ownership and governance of market infrastructure institutions" &
RBI released circulars on “Risk weights and exposure norms in respect of
bank exposure to NBFCs categorized as ‘Infrastructure Finance Companies’”
& “Infrastructure
Finance Companies”
On RAIN front, as mentioned
earlier, SEBI is extensively reviewing reduction in the turnaround time for
IPOs along with lead managers / merchant bankers, registrars, bankers to
the issue, etc. RAIN had sought a meeting with SEBI to discuss this in
detail and is awaiting their confirmation. Some of the leading members
have been participating in these meetings with adequate inputs from the
RAIN fraternity. I shall keep you posted on the developments.
More news in weeks to
come.....
With best regards
V. Ganesh
Chairman – RAIN
www.rainnet.org
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