The Securities and Exchange Board of India (SEBI) on Thursday notified new norms for ownership and governance of stock exchanges and other market infrastructure institutions including at least 51% stake holding by public and a minimum networth of Rs. 100 crore.
No Indian entity,
either individually or together with persons acting in concert, would be allowed to acquire or hold more than 5% directly or indirectly in a stock exchange, SEBI said. However, stock exchanges, depositories, banks, insurance companies and public financial institutions from India can acquire or hold up to 15% stake.
Individual shareholding would be capped at 5% for all non-Indian entities without any exemptions, and their collective holding cannot exceed 49%. Out of this, the holding through the foreign direct investment (FDI) route would be capped at 26% and that through foreign institutional investors (FIIs) at 23%. No FII would be allowed to acquire shares of a recognised stock exchange otherwise than through the secondary market.
A casual mention of a lost Aadhaar card in public saw government machinery go on an overdrive and its holder got a duplicate card in less than an hour.
Wholesalers, retailers and manufacturers across Maharashtra called off their month-long agitation against the local body tax (LBT) imposed by civic agencies following talks with Chief Minister Prithviraj Chavan onThursday.
Prime Minister's Economic Advisory Council Chairman C Rangarajan said the exchange rate of the local currency will be determined by the capital flows.
Etihad's Rs 2,058-crore stake purchase in Jet Airways has hit a regulatory air pocket, as regulators are seeking more clarity.
Marking nine years of the UPA government, PM Manmohan Singh promised to build "an economically resurgent and socially just India".
Former Goldman Sachs Director Rajat Gupta's attorneys said wiretap evidence used by the prosecution should not have been introduced at trial stage.
After more than three weeks, Mumbai traders on Monday called off their strike against Local Boy Tax (LBT).