The Securities and Exchange Board of India (Sebi) has opened up the Indian capital markets to clients of global private banks, which can invest in stocks without having to go through registration or compliance requirements.

Until now, foreign banks were allowed to do propriety trades only. However, now they have been allowed to invest in domestic securities on behalf of their clients.

By his own admission, Managing Director of the PNB Sunil Mehta on Thursday revealed that they detected the Rs 11,400-crore Nirav Modi fraud in the third week of January and reported the matter to the CBI on January 29. But shockingly, the bank’s management neither informed the shareholders about the scam in the PNB Board meeting on February 6 nor did it report the matter to the Security and Exchange Board of India (SEBI) for another two weeks.

The Securities and Exchange Board of India (Sebi) is readying a framework for issuance of participatory notes (p-notes) from the international financial services centres (IFSCs) such as GIFT City. P-notes are derivative instruments that allow overseas investors to invest in a domestic security without having to directly register with Sebi. The market regulator is in talks with foreign portfolio investors (FPIs), which act as issuers of P-notes, according to sources.

MUMBAI: Capital market regulator Sebi will meet credit rating agencies this week to explore ways to have quicker access to information on loan defaults by corporates. With the Reserve Bank of India (RBI) having so far refused to share the sensitive information beyond the banking industry, Sebi is keen that all rating agencies take membership of credit information companies (CICs) to obtain default data that banks have to report to CICs.

Amid rising volatility in the domestic stock markets, as gauged by the 30-share barometer Sensex and Nifty, which have shown wild swings over the last week, if response to bouts of global stock sell-off, SEBI Chairman Ajay Tyagi says that the stock market will continue to remain volatile for some more time. India’s stock market opened higher on Monday following a sharp recovery on Wall Street on Friday last week with Dow Industrials rising 330-points and better Q3 earnings by some of the blue-chip companies back home.

RBI Governor Urjit Patel on Saturday said the stock market bubble should not "lead to a very major problem" even has he stressed on the need for the regulators to be cognisant of the risks going forward.

The chief of a large fund house sits late afternoon every day and dutifully pours over the net asset values (NAVs) of his schemes. After scrutinising the returns for the day, he decides on the expense ratios that need to be charged and deducted for each category.

The executive is not alone. In fact, many fund houses, especially those that handle significant institutional money, dabble in what some call "NAV management", which involves adjusting the expenses based on the returns made on the particular day.

With the concept of a universal exchange set to become a reality, the Securities and a Exchange Board of India (Sebi) has finalised norms for allowing mutual funds and portfolio management services to participate in commodity derivatives. The market regulator will be announcing these norms shortly.

Sebi had issued a discussion paper on the subject in first week of December last year.

Markets regulator Sebi's decision to allow mutual fund houses to charge additional expenses from customers from beyond top 30 cities, as against 15 earlier will help in increasing penetration of such products, experts said.

"Sebi is now worried to develop the interiors of B-30 cities.

New Delhi: The government is eyeing Rs 3,000-4000 crore surplus funds lying with market regulator Sebi as part of its exercise to mop up non-tax revenue to bridge the fiscal deficit gap, a senior official has said.

The government has already sought dividend of about Rs 13,000 crore from the Reserve Bank of India for 2016-17.

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