Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Arun Jaitley to Address RBI, Sebi Boards on February 11

Jaitley, who presented the Budget on February 1, is likely to inform the boards of both the regulators about various financial sector reforms announced including creating a six-member Payments Regulatory Board in the RBI, headed by its Governor, as part of bringing about structural reforms in the payment eco-system.

Press Trust Of India

Updated:February 7, 2017, 3:22 PM IST
facebookTwitterskypewhatsapp
Sebi
The Securities and Exchange Board of India (SEBI) office building. (File photo)

New Delhi: Finance Minister Arun Jaitley will address the boards of the Reserve Bank and markets regulator Sebi on February 11 and discuss various financial sector reforms announced in the Union Budget 2017-18.

The customary post-Budget address of the Finance Minister before the boards of the two regulators comes against the backdrop of the government pegging fiscal deficit at 3.2 per cent of GDP for the financial year ending March 2018.

The minister would address the board of Sebi and RBI in Delhi on February 11, sources said.

Jaitley, who presented the Budget on February 1, is likely to inform the boards of both the regulators about various financial sector reforms announced including creating a six-member Payments Regulatory Board in the RBI, headed by its Governor, as part of bringing about structural reforms in the payment eco-system.

Besides, the Budget proposed an amendment to the RBI Act to enable the issuance of electoral bonds.

It also proposed allowing listing of security receipts issued by asset reconstruction companies on stock exchanges to enhance capital flows into the securitisation industry and check bank non-performing assets (NPAs).

Also, he proposed to infuse Rs 10,000 crore in public sector banks in the next fiscal and more will be provided if required.

With regard to capital markets, the minister announced a paperless online mechanism for registration as brokerage firms, mutual funds, portfolio managers and other market intermediaries and linking demat accounts with Aadhaar.

He also announced that commodities and securities derivative markets would be further integrated by integrating the participants, brokers and operational framework.

Sebi, RBI and CBDT would jointly put in place systems and procedures for a common application form for registration, opening of bank and demat accounts and issuing PAN for Foreign Portfolio Investors (FPIs).

In order to strengthen IPO market and channelise more investments, Jaitley has proposed to allow "systemically important" NBFCs, regulated by RBI to be categorised as Qualified Institutional Buyers (QIBs).

Presently institutions such as banks and insurance companies are categorised as QIBs by Sebi. They are eligible for participation in IPOs with specifically earmarked allocations.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Nakshab Khan
Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Bandhan Bank 623.70 9.67
HUL 2,064.40 2.49
Infosys 768.30 -2.26
RBL Bank 264.05 1.99
Maruti Suzuki 6,985.75 2.41
Company Price Change %Gain
Bajaj Consumer 195.55 -14.77
Future Life 413.10 2.71
Bandhan Bank 625.05 10.14
Federal Bank 84.50 1.50
Indiabulls Hsg 189.05 -4.47
Top Gainers
Company Price Change %Gain
Eicher Motors 19,199.10 4.75
Vedanta 153.50 3.86
Zee Entertain 250.70 3.21
M&M 583.40 2.59
Hero Motocorp 2,675.70 2.55
Company Price Change %Gain
Vedanta 153.45 3.79
M&M 584.60 2.83
ONGC 138.75 2.63
Hero Motocorp 2,676.00 2.56
Maruti Suzuki 6,987.70 2.47
Top Losers
Company Price Change %Gain
Bharti Airtel 383.65 -2.52
Infosys 768.30 -2.26
Bharti Infratel 256.95 -0.96
JSW Steel 219.65 -0.81
Tata Motors 126.95 -0.70
Company Price Change %Gain
Bharti Airtel 383.55 -2.53
Infosys 767.80 -2.27
Tata Motors 126.95 -0.67
HCL Tech 1,084.10 -0.27
Bajaj Finance 3,880.30 -0.03

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results