A look at the recent rulings which can affect you.
Markets
- Sebi has asked companies to disclose the details of allottees and the corresponding pre- and post-QIP (qualified institutional placement) issue shareholding on the Websites of the stock exchanges.
- To enhance the role of mutual funds in the corporate governance of listed companies, Sebi has asked AMCs to disclose their general policies for exercising the voting rights with respect to the shares held by them. The disclosure should be made on their Websites as well as in the annual reports.
Banking
- The RBI has issued guidelines for standardisation and enhancement of security features in cheques through features like water marks and the respective bank's invisible logo to prevent forgeries and frauds.
- From 1 April, the payment of interest on savings bank accounts by scheduled commercial banks will be calculated on a daily basis.
Telecom
- Trai has released a consultation paper and asked for views on capping the number of satellite channels in the country.
Insurance
- Irda has set up an internal committee to identify possible loopholes in the norms regarding overall charges on Ulips, which it had issued in July 2009.
Rs 1 lakh is the maximum amount of gold loan that the RBI has asked the central and state co-operative banks to sanction.
