The Securities and Exchange Board of India (Sebi) has prohibited stock brokers and clearing members (CMs) from creating bank guarantees (BGs) from clients’ funds with effect from May 1. Existing BGs created out of clients’ funds will have to be wound down by September 30 this year. “Currently brokers and clearing members pledge client’s funds […]
The index maintenance sub-committee of NSE Indices, a subsidiary of the NSE, on Wednesday revised the methodology for treatment of demergers involving the Nifty equity indices. The change is expected to help reduce the churn in index constituents resulting from corporate action involving demergers. It will be applicable to the scheme of arrangement of all […]
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