The Securities and Exchange Board of India’s (SEBI’s) discussion paper on a framework for large corporate borrowings smacks of regulatory overreach. The capital markets regulator has proposed that firms with long-term borrowings of at least Rs 100 crore and a credit rating of AA or above will have to compulsorily source 25 percent of their incremental debt financing from the bond market starting next financial year. Further, it has suggested that after a couple of years a monetary penalty be imposed if firms don’t achieve this target. … [Read more...] about Opinion | There’s a need to develop corporate bond market, but SEBI’s proposal is regulatory overreach
Sebi
Managing Money with Moneycontrol | SEBI guidelines for debt funds
After more than six months of turmoil in debt funds fueled by defaults, companies missing interest payments, mutual fund schemes’ NAVs falling, SEBI has finally stepped in released a revised set of mutual fund guidelines. … [Read more...] about Managing Money with Moneycontrol | SEBI guidelines for debt funds
SEBI allows listing of mutual fund units of schemes in process of winding up
On April 23, Franklin Templeton Mutual Fund had said it would wind up six schemes - Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund and Franklin India Income Opportunities Fund - citing severe illiquidity and redemption pressures caused by the COVID-19 pandemic. … [Read more...] about SEBI allows listing of mutual fund units of schemes in process of winding up
Don’t wait for 90-days to upgrade a defaulted firm if it makes payments: Sebi to rating agencies
The Securities and Exchange Board of India (Sebi) has told credit rating agencies (CRAs) that they can upgrade a company from default to a higher grade if the firm manages to pay back quickly and there is a policy change in place. Till now, rating agencies have to wait for 90-days before upgrading a defaulted company. … [Read more...] about Don’t wait for 90-days to upgrade a defaulted firm if it makes payments: Sebi to rating agencies
Sebi shutters headquarters for three days after employee tests positive: Report
The nationwide lockdown was first announced by Prime Minister Narendra Modi in March. Several services and operations were put under the 'essential' category, thereby exempting them from the restrictions imposed during the lockdown. As markets were also declared an essential service, Sebi continued its operations. … [Read more...] about Sebi shutters headquarters for three days after employee tests positive: Report
