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Aside from stonewalling on the Adani-Hindenburg issue, there was much for retail investors and intermediaries to cheer after the SEBI board meeting.
Move may quicken consolidation in India’s ₹41-tn MF industry
Asks top listed cos to confirm or deny rumours that impact share price
The regulator gave its go-ahead to a proposal suggesting ending the practice of individuals holding permanent directorship at boards of listed companies. The move is part of efforts to further boost the corporate governance ecosystem.
Markets regulator Sebi will put in place a framework for the Application Supported by Blocked Amount (ASBA) facility for investors in secondary market trading, similar to the existing system for IPO investors. Sebi's board approved the proposal during its meeting here on Wednesday. Through the proposed facility, which would be optional for investors as well as stock brokers, Sebi aims to bring in 'efficiency in the secondary market ecosystem by allowing usage of same blocked amount towards margin and settlement obligations.