Market regulator Sebi has asked credit rating agencies to disclose their methodologies, the fees charged from the companies they rate, the default rate of each agency and the conflict of interest between analysts and the companies they rate.
Sebi has asked stock exchanges to display the annual reports of listed companies on their Websites, a move that could help investors take informed decisions.
Banking
The RBI has enhanced the cash limit of foreign exchange from $2,000 to $3,000 for travellers going abroad. They can buy this amount without taking prior permission from the central bank.
The central bank has asked banks to put in place additional security measures for credit card transactions based on Interactive Voice Response (IVR) by 1 January 2011. IVR allows people to access bank or credit card information through automated responses over the phone, instead of having to speak to the staff.
The RBI has asked non-banking financial companies to ensure that property developers disclose information regarding the entity to which the property is mortgaged in all pamphlets, brochures and advertisements if they want to apply for a loan against property.
Insurance
Irda has asked life insurers to make public the commission they pay agents from investors' money for unit-linked products.
