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Bonds in paperless mode may be exempt from stamp duty charge
The revenue department under the Union finance ministry has given an in-principle nod to waiving off stamp duty charges on the transfer of bonds in the dematerialised form. The proposal has now been forwarded to the Union law ministry for its comments. Approval of the proposal will boost asset securitisation by banks and financial institutions.
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IndBank fund faces Rs 56cr gap in Ind Jyothi; seeks parent's help
Indbank Mutual Fund has approached its parent, Indian Bank, to bail it out from the forthcoming redemption of the Ind Jyothi scheme. The scheme, which is coming up for redemption next month, is facing an estimated shortfall of Rs 56 crore. Indian Bank is reportedly taking steps in consultation with the Reserve Bank of India to bridge the shortfall.
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Foreign investors remain bullish, but want greater liquidity in market
Foreign investors feel the domestic market holds promise, especially after the sprucing up of its infrastructure. Hitches, however, still exist to their full participation, primarily owing to a lack of liquidity. This was brought to light by their representatives at a seminar on measures for restoring investors' confidence in the capital market, organised on Thursday.
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Dena Bank plans Rs 200cr debt issue
Dena Bank is launching a Rs 200 crore debt issue at 14.25%. The issue, slated to open on February 23, will boost the capital adequacy ratio of the bank. SBI Capital Markets is the lead manager to the issue. The issue has been given a "LAA" rating by ICRA.
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