SEBI relaxes norms for banks to take over stressed assets

Capital markets regulator, SEBI on Wednesday relaxed take over norms for acquisition of stressed assets of listed companies to help the government and the RBI in their efforts to tackle bad loans. SEBI Chairman Ajay Tyagi said this after a board meeting in Mumbai, on Wednesday.

SEBI’s board also approved a proposal to tighten rules for participatory notes through imposition of a regulatory fee on issuers of such instruments. But the SEBI chief said there is no proposal to completely ban P-notes, as they can be useful for new foreign investors looking to test the Indian markets.

SEBI will also issue a discussion paper for easier registration of foreign investors. Another discussion paper will be floated for ways to help develop equity derivatives markets.

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