Banks are witnessing a surge in hiring for sales staff in secured segments such as home, vehicle and gold loans as compared to the recovery category, driven by a boost in business growth, and a host of regulatory measures aimed at improving ease of doing business, according to industry experts.
Markets regulator Sebi will soon set up a working group to undertake a comprehensive review of short selling and the Securities Lending and Borrowing (SLB) frameworks, its chairman Tuhin Kanta Pandey said on Friday. The framework for short selling, introduced in 2007, has largely remained unchanged since its inception.
The National Stock Exchange (NSE) on Monday said it will conduct a special Muhurat trading session on Tuesday, October 21, to mark the festival of Diwali.
The settlement cycle for cash, derivatives, and securities lending and borrowing mechanism (SLBM) segments has been revised after September 5 and September 8 were declared as settlement holidays by clearing corporations, markets regulator Sebi said on Monday.
Citibank's Securities and Fund Services said on Monday it will offer securities lending services to its clients in India.
'If the portfolio growth rate is higher, take this loan. If it is lower, liquidate your investments.'
Fintech companies believe that the impact of Reserve Bank of India's order last week on unsecured loans will be visible in six to 12 months and prompt them to diversify and strengthen their secured portfolio. Fintechs which source funds through banks or non-banking finance companies (NBFCs) are looking at quickly building their secured portfolio options to at least 40 per cent of their total portfolio. "Over the medium to long term, as part of our product strategy, we are evaluating secured products which can be enabled over a digital platform" said Yogi Sadana, the founder of Zype, a lending-focussed fintech.
'We are working with a few housing finance companies to drive affordable lending because that's where we believe our sweet spot is.'
While the BSE is holding a special trading session to test its disaster recovery software, NSE conduct a special live trading session in capital market segment and future options and SLB segments.
In a move that could infuse more liquidity in the markets and make it more dynamic, the Securities and Exchange Board of India on Wednesday extended the tenure of contracts in securities lending and borrowing to 12 months from one month.
The Securities and Exchange Board of India (Sebi) on Wednesday said short-selling and securities lending and borrowing will be operationalised from April 21.Short-selling refers to the practice of selling a stock which the seller does not own at the time of trade with the hope of buying it back at a lower price.
Short-selling will be back after a gap of six years, with the Securities and Exchange Board of India on Thursday allowing all classes of investors, including institutional ones, to sell stocks that they do not own at the time of trade.
The Securities and Exchange Board of India will introduce margin trading and securities lending scheme in stock markets from February 1, 2004.
Investors can earn risk-free income of 6% to 8% annually by lending stocks.
This comes at a time when competition has increased significantly.
'If the new rate is lower than your current rate, ask your bank to shift you to it.' 'This can be done by paying a fee of Rs 5,000 to Rs 6,000.'
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