Reserve Bank of India (RBI) has extended the deadline for implementation of its guidelines on current account opening by banks to October 31 from July 31 heeding to requests by banks. In a notification on its website, the central bank said it has agreed to extend the timeframe in response to requests from banks for some more time to resolve the operational issues arising from the notification. “Banks will be permitted time till October 31, […]

The central bank Wednesday eased compliance norms across the board for individuals, advising banks against physical presence of customers for KYC (Know Your Customer) verifications. Bank customers are supposed to submit valid documents to remain compliant with KYC, a key measure that helps check banking frauds. Given the spread of the virus, KYC is required to be made without physical presence, the central bank said. Deadlines have also been extended. “Keeping in view the covid-related […]

This has reference to Exchange circular NSE/INSP/43488 dated February 10, 2020 with respect to Treatment of Inactive trading account. Based on representations received from Members’ and in consultation with other Stock Exchanges the following clarification is being issued The requirement for flagging the client as inactive in the UCC database of the Exchanges and the exemption for reporting (weekly submission of securities holding and monthly upload of client funds and securities balances) shall continue to […]

New Delhi: Markets regulator Sebi on Tuesday came out with revised formats for filing financial information by entities that have listed their non-convertible securities on stock exchanges. In September, the regulator had notified corporate governance rules for listed entities which have listed their debt securities. It had mandated that such entities should disclose financial results on a quarterly basis, including assets and liabilities, and cash flows. Now, Sebi has come out with formats for reporting […]

Capital markets regulator Sebi has put in place certification requirements for associated persons engaged by portfolio managers as distributors or employees having decision-making authority related to fund management. These persons need to obtain certification from the National Institute of Securities Markets (NISM), the regulator said in two separate notifications dated September 7. The associated persons, engaged by a portfolio manager as a distributor of the PMS, and associated persons functioning as principal officers of a […]