New norms of performance in Credit Rating Scheme
The Dollar Business Bureau The Indian government has approved the new norms of Performance of MSMEs in the Credit Rating Scheme. These guidelines are sanctioned to enhance the credibility for the borrowers as well as banks. As per the new guidelines, the Micro, Small and Medium Enterprises (MSMEs) shall pay a fee to credit rating agencies based on their turnover. The credit rating agency fee in turn has been further classified under three slabs based on the turnover. The MSME Ministry will reimburse 75% of the rating agency fee to a maximum of Rs.15,000 for a turnover up to Rs.50 lakh, to a maximum of Rs.30,000 for a turnover between Rs.50 lakh and Rs.2 crore, and to a maximum of Rs.40,000 for MSMEs ...
Office held on regular basis in the Forward Markets Commission
Dated September 22nd, 2015 | Copy of | Notification No. sl 204 | In exercise of the powers conferred by sub-section (4) of Section 29B of the Forward Contracts (Regulation) Act, 1952 (74 of 1952), the Central Government hereby notifies that the employees mentioned below, holding the office in the Forward Markets Commission shall, with effect from the 29th day of September, 2015, hold their respective offices as the employees of the Central Government by the same tenure, upon the same terms and conditions of service, as they would have held under the Commission, had it not been transferred and vested with the Securities and Exchange Board of India, namely:- Sd/- (Manoj Joshi) Jt. Secy. S.O.2589(E) F.No.1/18/SM/2015 Issued by: Ministry of Finance (Department of Economic Affairs) ...
New trading platform for start-ups, e-commerce firms by SEBI
Sai Nikesh | The Dollar Business In a move to encourage new business entrants, the Securities and Exchange Board of India (SEBI), on Tuesday, announced setting up of an ‘alternative trading platform’ dedicated for start-ups, including e-commerce firms, in the country. The capital market regulator, by relaxing its regulations, provides an opportunity for start-ups to list and raise funds on domestic stock exchanges, instead of going overseas. “Indian start-up space is very vibrant and the country is ranked number five as far as start-ups are concerned. More than 3,100 start-ups are there in the country and a large number of M&As have also happened," said SEBI Chairman U K Sinha, in an official statement. "However, most of these start-ups were thinking ...
