Regulations
SEBI approves BSE, NSE for electronic book mechanism launch
The capital market regulator on Tuesday approved stock market majors -- BSE and the National Stock Exchange of India (NSE) -- for launch of electronic book mechanism (EBM) for issuance of debt securities on private placement.
 
The Securities and Exchange Board of India (SEBI) allowed the key stock markets to carry out EBM under the provisions of an earlier issued circular dated April 21, 2016. The new regulation will come into effect from July 1, 2016.
 
“This mechanism would help in streamlining the procedures for issuance of debt securities on private placement basis. Known as BSE-BOND (BSE Bidding Online for Debt), this would ensure transparency while dealing in debt securities,” the BSE said in a statement.
 
“Any issuer can use the EBM. However, an issuer coming out with an issue of more than Rs500 crore (inclusive of the green shoe option) would have to mandatorily use this mechanism.” 
 
According to the NSE, the mechanism will streamline procedures for issuance of debt securities on private placement basis and enhance transparency to discover prices
 
"It is a bidding platform and will not function as a trading platform. Main beneficiaries of this mechanism will be issuers, arrangers, sub-arrangers, and participants, the NSE said in a statement.
 
"Presently the issuance of private placement has been made offline. The detailed guidelines on electronic book mechanism will be provided subsequently."
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Most operators fail call drop test in Mumbai: TRAI
Most of the telecom service providers, except Airtel 2G and 3G and Vodafone 2G, in the Mumbai circle have failed to meet call drop rate benchmark of less than 2%, said sector regulator TRAI in a statement on Tuesday after conducting a drive test.
 
IMRB International has carried out independent drive test for cellular mobile telephone service in Mumbai service area between May 10-13, the statement said.
 
"Most operators (in Mumbai circle), excepting Airtel 2G/3G and Vodafone 2G, are not meeting the under 2% call drop rate benchmark," said the Telecom Regulatory Authority of India (TRAI) statement.
 
It also stated that most telcos in Mumbai met the call set-up success rate benchmark of over 95%, except MTNL 2G and 3G and Reliance Communications 2G.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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ISRO rocket blasts off with Cartosat and 19 other satellites
An Indian rocket named Polar Satellite Launch Vehicle (PSLV) on Wednesday morning lifted off successfully with the country's earth observation satellite Cartosat, Google company Terra Bella's SkySat Gen2-1 and 18 other satellites.
 
The PSLV rocket standing 44.4 metre tall and weighing 320 tonne, tore into the morning skies at 9.26 a.m. with a growl breaking free of the earth’s gravitational pull.
 
The 20 satellites weighed 1,288 kg.
 
The rocket's main cargo is India's 725.5 kg Cartosat-2 series satellite for earth observation.
 
This satellite is similar to the earlier Cartosat-2, 2A and 2B.
 
The other 19 satellites weighing totally around 560 kg are from US, Canada, Germany and Indonesia as well as one satellite each from Chennai's Sathyabama University and College of Engineering, Pune.
 
The whole launch mission will get over in around 26 minutes.
 
The images sent by Cartosat satellite will be useful for cartographic, urban, rural, coastal land use, water distribution and other applications.
 
According to ISRO, the 110 kg SkySat Gen2-1 belonging to Terra Bella, a Google company is a small earth imaging satellite capable of capturing sub-metre resolution imagery and high definition video.
 
The Planet Lab’s Dove Satellites are also earth imaging satellites. A total of 12 Dove satellites each weighing 4.7 kg are carried in this mission inside three QuadPack dispensers, ISRO said.
 
The PSLV rocket also carries 85 kg M3MSat from Canada. The technology demonstration mission is jointly funded and managed by Defence Research and Development Canada and the Canadian Space Agency.
 
The other foreign satellites on board are: 120 kg LAPSN-A3 of Indonesia, the 130 kg BIROS, from German Aerospace Centre, Germany and the 25.5 kg GHGSat-D, Canada.
 
On the other hand, the 1.5 kg Sathyabamasat from Sathyabama University will collect data on green house gases while the 1 kg Swayam satellite from College of Engineering, Pune will provide point-to-point messaging services to the HAM radio community.
 
Wednesday's mission will be the first time the ISRO is launching more the 10 satellites with a single rocket.
 
In 2008, the ISRO had launched 10 satellites with the PSLV rocket.
 
Till date India has launched 57 foreign satellites successfully.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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