IFSCA directions for providing Internet banking services to clients of IBUs

The circular delineates the scope and expectations regarding internet banking services to be extended by IBUs. Internet banking services encompass a spectrum of functionalities ranging from information dissemination to transaction execution, all facilitated through electronic delivery channels over computer networks or internet technologies.

IFSCA clarification regarding Import of gold and silver by Indian Banks through India International Bullion Exchange IFSC Limited (IIBX)

It has been decided to permit the Indian Banks, authorized by the RBI to import gold/silver, to directly access the trading system of the IIBX, without the need for a Bullion Trading Member, for undertaking such import on behalf of their clients. However, such banks (referred to as ‘SCC Banks’ hereafter in this Circular) shall utilize the services of an IFSC Banking Unit (IBU) registered as a Bullion Clearing Member for clearing of their purchase transactions.

Consultation Paper on Framework for Price Discovery of Shares of listed Investment Companies & listed Investment Holding Companies

A novel special call-auction mechanism, devoid of price bands, is proposed for listed ICs and IHCs experiencing significant discounts to their book values is proposed. This mechanism aims to unlock fair value and stimulate liquidity in these securities. Key criteria for eligibility include industry classification, trading history, and asset allocation in listed companies.

Standardization of the Private Placement Memorandum (PPM)Audit Report

The standardized reporting format shall be hosted on the websites of the AIF Associations which are part of SFA within 2 working days of issuance of this circular. The associations shall assist all AIFs in understanding the reporting requirements and in clarifying or resolving any issues which may arise in connection with reporting to ensure accurate and timely reporting. The PPM audit reports shall be submitted to SEBI by AIFs online on the SEBI Intermediary Portal (SI Portal).

IBBI initiates a comprehensive review of all the Rules

IBBI decided to initiate a comprehensive review of all the Rules prescribed under various legislations being administered by MCA. Accordingly, Comments/ Suggestions are invited on the Rules from all the stakeholders.

IBBI clarification regarding IP compliance report

The IPs who have not submitted any compliance in relation to circular dated 28th September,2023, are hereby given an opportunity to comply with the circular dated 28th September 2023 and inform the status of the same to the IBBI electronically on the website of IBBI on or before 31st May 2024.

Standard Timings for Availability of Trading related data in NSE

Comprehensive online data concerning margins & collaterals are systematically conveyed through the RTRMS & Collateral applications. Members are equipped to employ trade information, margin parameters and settlement price data to compile essential back-office reports to facilitate EOD procedures.