The Financial Express -- Markets

Tuesday, October 7 1997

RBI may ease norms for loans against dematerialised shares

The Reserve Bank of India (RBI) may ask banks to waive the requirement of transferring shares against which they extend loans in their names if such shares are in the dematerialised form as there is no risk involved in lending against dematerialised shares.

BSE to crack whip against errant deliveries, close out deals

The Bombay Stock Exchange (BSE) has decided to get tough with members who deliver wrong shares or an incorrect quantity of shares to the clearing house. It has decided that in addition to a 2% penalty levied on members who make incorrect deliveries which result in mismatches, it would now close out these shares directly without giving the members a chance to rectify or correct the objections.

Merchant bankers piqued over new underwriting norms

Merchant bankers have started expressing reservations on the two-tier underwriting system recommended in the latest book-building guidelines issued by Sebi. Sebin has recommended a system whereby the syndicate member enters into an underwriting agreement with the book-runner who, in turn, again signs an agreement with the issuer to take up the liability in case of default by the underwriters.

Wheat dara gains on demand, pulses steady & zeera dips

Market Round-up -- Call Money

RBI may ease norms for loans against dematerialised shares

Merchant bankers piqued over new underwriting norms

Market surveillance to be sharply focussed, says Tapan Dutta

DSE to sign MoU with ASE for expanding operations

DSE index down by 3.23 points

BSE to crack whip against errant deliveries, close out deals

Go long for short trades

German orders data strong, but Buba move unlikely

Magnum Open withdraws 4% entry load

NSE shifts 350 V-Sats; CSE follows suit