SEBI grants approval to BSE SME Exchange

SME Exchange platform will provide new investment avenues for market participants and investors

The Securities and Exchange Board of India (SEBI) has accorded approval to the proposed SME Exchange by BSE Ltd. Small and medium enterprises (SMEs) have complained of difficulty in accessing both debt and equity capital. While the government has taken several measures to ease access to credit, giving them easier access to equity is the next step in that process.

SME Exchanges like AIM (London), Canada (TSXV), Hong Kong (GEM), Japan (Mothers), Korea (KOSDAQ) and US (NASDAQ) were studied in detail to understand their salient features. Learnings from the OTCEI, the capital market realities, and difficulties faced by SMEs have been taken into account while formulating the BSE SME Exchange in the Indian context.

Past few months, BSE SME Exchange has conducted several seminars for educating the SMEs on the benefits of listing and the preparations required for listing on the BSE SME Platform across India. BSE SME has tied up with channel partners who include various institutions engaged in the development of SMEs. More seminars are lined up to cover all parts of the country in this year. Additionally, BSE SME has planned for sectoral seminars for auto ancillaries, infrastructure, pharmaceuticals, manufacturing, agro based industries, suppliers to OEMS etc. BSE SME is also planning to take SME cluster approach in the development of SME segment.

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Tata Motors to decide after studying Singur judgment

Tata Motors to study the judgement before taking action

"Tata Motors has learnt of the Hon'ble Calcutta High Court's ruling on The Singur Land Rehabilitation & Development Act 2011. The company will study the judgment and decide its next course of action." This was the statement issued by Tata Motors after the judgement.

The Calcutta High Court order had upheld the Singur Land Rehabilitation and Development Act. This was the verdict of Justice Indra Prasanna Mukherjee rejecting the Tata Motors' plea challenging the legislation.

In the late afternoon, Tata Motors was trading at around Rs156.40 per share on the Bombay Stock Exchange, 0.45% up from the previous close.

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RBI to release new series of coins

RBI is to release new coins of 50 paisa, one rupee, two rupees, five rupees and ten rupee denominations

The Reserve Bank of India (RBI) will shortly put in circulation new coins of 50 paise, one rupee, two rupees, five rupees and ten rupees denominations.

The coins of these denominations shall conform to new dimensions, designs and compositions, an official release said. These coins will be legal tender as provided in the Indian Coinage Act, 1906.

However, the existing coins in these denominations shall also continue to be legal tender, Vinod Kumar, assistant general manager, RBI, Chandigarh said.

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