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Dear Members
The
key benchmark indices showed positive trend last week and closed at
17,694 on Friday (23rd April 2010), on higher stocks and
gains in US index futures. Optimism about the fourth quarter
corporate earnings and normal monsoon this year aided the rally.
The
Central Bank in its monetary policy review on 20th April
2010 has increased repo rate, reverse repo rate and cash reserve
ratio (CRR) by 25 basis points each. This is the third round of rate
hike by the RBI in the current calendar year. With the latest hike,
the repo rate, reverse repo & CRR stand at 5.25 percent, 3.75
percent & 6 percent respectively.
Key
circulars released across BFSI segment are:
1.
SEBI -
(a) Reduction in time between issue closure and listing (b)
Execution of Power of Attorney (PoA) by the client in favor of the
stock broker/ stock broker and depository participant
2.
RBI
- (a) Credit/debit card transactions- security issues and risk
mitigation measures for IVR transactions (b) Prudential norms on
advances to infrastructure sector (c) Issue and pricing of shares by
private sector banks
3.
NSDL -
(a) 2010-0042-Policy-Annexure-Updation of master circular on account
opening (b) 2010-0041-Policy-SEBI's instructions relating to
consolidated UN list
More
news in weeks to come….
With best regards
V.
Ganesh
Chairman – RAIN
www.rainnet.org
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