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Dear
Members
Markets remained flat throughout last
week with fears of monetary tightening at home and tougher rules from US
banks to invest in equities.
Much awaited, RBIs
quarterly monetary policy was reviewed on 29th January 2010.
Worries of monetary tightening, has receded for the time being, with the
central bank taking a decision to leave interest rates unchanged while
raising cash reserve ratio by 75 basis points. The RBI hiked its cash
reserve ratio (CRR) by 75 basis points to 5.75% and this will be
implemented in two phases.
On regulatory front, SEBI released circulars on “Disclosure of investor
complaints & arbitration details on depository website” &
“Requirement of fee clearance and NOC-non applicability in respect of
certain category of members of stock exchange”. IRDA has released circular
on “Public disclosures by insurers” across life, non-life and re-insurance
divisions.
Our next RAIN meeting is scheduled on 11th
February. Nothing much to report on RAIN
activities this week.
With best regards
V. Ganesh
Chairman – RAIN
(www.rainnet.org)
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