CAMS brings you a weekly glimpse at the key happenings in the BFSI sector, in India and abroad. Regulatory updates or important news, here are some which might have had an impact on the sector.
With effect from July 1, 2016, no exchange of pre-2005 notes to be facilitated by banks, as declared by the RBI. By mandate, exchanges will be directly mediated at any of the 20 offices of the RBI in the country.
Three years after SEBI made it mandatory for fund houses to provide direct investment plans, preference to protect distributor channels still persist. Digitization is expected to boost disintermediation in the future.
Sources of more than 40% of inflows into equity traced back to small towns, in April-June 2016; Small town retail investors’ increasing contribution and SEBI initiated reforms have increased inflows into equities, cite experts.
SEBI prompts Mutual Funds to publish key disclosures and comparable performance metrics on their websites to increase transparency. Scheme Information Documents and the Key Information Memorandums of mutual fund schemes to include portfolio details, expense ratios and scheme’s past performance, among others.
In a significant move to induce more transparency, SEBI decrees Electronic book mechanism compulsory for issuance of debt securities. BSE and NSE receive sanctions to serve as electronic book providers (EBP).
The property market to break out of period of slowdown and expectations rise high for increased housing sales owing to implementation of the 7th Pay Commission recommendations. This development could also signal a significant period of growth for the Indian retail sector with rise in footfalls and increased consumption.
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