Financial Daily from THE HINDU group of publications
Saturday, Jan 11, 2003
Financial Daily from THE HINDU group of publications Saturday, Jan 11, 2003 |
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Markets
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Regulatory Bodies & Rulings RBI relaxes norm for stock broking cos Our Bureau
MUMBAI, Jan. 10 STOCK broking companies, which have registered with SEBI and do not hold or accept public deposits, have been exempted from registering with the Reserve Bank of India. Such companies have also been exempted from maintenance of liquid assets and creation of special reserve fund as per the RBI Act, a RBI press release said. Applications of such stock broking companies which have applied to RBI for issue of certificate of registration and which are not holding public deposits will be treated as withdrawn, the release said.
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