Abhishek kumar aashish jindal

SEBI sets out deposit norms for members in debt segment

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SEBI sets out deposit norms for members in debt segment

December 24, 2013

The Securities and Exchange Board of India (SEBI) sets out minimum deposit requirements for members in the debt segment of the stock exchanges.

As per the circular issued by SEBI –

  • As per the norms for stock brokers and proprietary trading members, the base minimum capital requirements will be applicable for the debt segment as well.

  • As per the profile of the members, the base minimum deposit requirements range from Rs 10 lakh to Rs 50 lakh for members of stock exchanges having nation-wide trading terminals.

  • For Clearing Members (CM) and Self Clearing Members (SCM) the deposit shall be Rs 10 lakh. No exposure shall be granted against such deposit requirement of the CM/SCM.

  • No deposit will required from members seeking registration in the debt segment if they are already members of another segment on the stock exchange.

  • No deposits would be applicable in case, the clearing members ‘clears and settles trades only on gross basis for both securities and funds, and where no settlement guarantee is provided by the clearing corporation.

CCEA approved Rs 6,600 cr interest-free loans for sugar mills

December 24, 2013

The Cabinet Committee on Economic Affairs (CCEA) approved Rs 6,600 Crore interest-free loans to cash-starved sugar mills in order to make payments to cane farmers. The interest subvention will be 12%, which will be borne by the Sugar Development Fund.

The loans provided by banks to sugar mills are solely for making payments to sugarcane farmers, including arrears. The loans are equivalent to the excise duty paid by the mills in the past three years. Mills will have to repay the loans in five years and can avail of a moratorium on repayment for the first two years.

The PM-constituted panel headed by Agriculture Minister Sharad Pawar recommended for interest- free loans, to help millers to clear dues and make timely payment in the current crushing season 2013-14 to cane growers.

Currently, sugar industry is facing a financial crisis due to higher cost of production and decline in the prices of sugar.  This has led to Rs. 3400 crore cane arrears from 2012-13 during the marketing year that ended in September 2013. Thus, owing to liquidity crunch, the sugar mills demanded interest-free loans for working capital requirement, hike in import duty, and export subsidies among others. This financial package will allow millers to pay money they owe to the farmers.

First Ministerial Level Talk held for BCIM Trade Corridor

December 25, 2013

IndiaChinaBangladesh and Myanmar held the first ever official-level discussions on the ambitious BCIM economic corridor to link India and China with Bangladesh and Myanmar.

The economic advantages of the BCIM trade corridor are:-

Approach to numerous markets in Southeast Asia,
Improvement of transportation infrastructure and
Creation of industrial zones 

Currently, the four nations raised an ambitious proposal that included developing multi-modal transport, such as road, rail, waterways and airways, joint power projects, telecommunication networks, etc. As a first step, they will identify realistic and achievable infrastructure projects to boost physical connectivity.

Over the next six months, each country will come up with a joint study report proposing concrete projects and financing modalities, before the next meeting of the four nations in June 2014, hosted by Bangladesh.

The  linking of all four countries by road has strengthen the belief that this corridor would subsequently open up the whole of the northeastern region of India to Southeast Asia and China and turn it into a significant channel of trade.

BCIM Trade Corridor 

The Bangladesh-China-India-Myanmar (BCIM) economic corridor is a test case for cooperation between India and China in regional development as well as addressing common challenges. It aims to connect Kolkata with China’s Kunming city with a highway running through Bangladesh and Myanmar.

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