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1-min read

Bad Loans: SEBI Eases Norms For Acquisition of Distressed Assets to Help Govt, RBI

Markets regulator Securities and Exchange Board of India (SEBI) on Wednesday relaxed takeover norms for acquisition of stressed assets to help the government and the RBI in their efforts to tackle bad loans.

PTI

Updated:June 21, 2017, 9:01 PM IST
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Bad Loans: SEBI Eases Norms For Acquisition of Distressed Assets to Help Govt, RBI
Under the Sebi classification, which broadly caps the fund categories to five, that are sub-divided into 36 categories, will see that total number of funds will come down 1,368.
Mumbai: Markets regulator Securities and Exchange Board of India (SEBI) on Wednesday relaxed takeover norms for acquisition of stressed assets to help the government and the RBI in their efforts to tackle bad loans.

After a board meeting here today, SEBI Chairman Ajay Tyagi said the regulator has decided to ease norms for acquisition of distressed assets of listed companies.

The board also approved a proposal to tighten the rules for participatory notes through imposition of a regulatory fee on issuers of such instruments.

Tyagi, however, said there is no proposal to completely ban these instruments as they can be useful for new foreign investors looking to test the Indian markets.

"Sebi would want foreign investors to come directly but P-notes also have their usefulness," Tyagi told reporters in Mumbai.

Besides, SEBI would issue discussion paper for easier registration of foreign investors. Another discussion paper would be floated for ways to help develop equity derivatives markets.

ALSO READ: SEBI to Ease FPI Registration Norms, Fast-track IPO Listings
| Edited by: Bijaya Das
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