The SEBI registration makes SMERA, only the sixth rating agency in India to rate issues related to capital market
SME Rating Agency of India Ltd, the dedicated rating agency for the MSME sector in India, has been registered under Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999. According to SMERA, it is the first and only rating agency in the MSME space that is dedicated to increase the credit flow to the MSME sector. The Mumbai-based agency was incorporated in August 2005 and is promoted by SIDBI, Dun & Bradstreet and other banks in India.
The SEBI registration makes SMERA, only the sixth rating agency in India to rate issues related to capital market. SEBI registration has paved way for SMERA to rate the capital market instruments, such as, IPO, bonds, commercial papers, security receipts and others. The SEBI registration bestows higher credibility and acceptance for SMERA in the market.
Parag Patki, CEO, SMERA said, "Considering the high level of consistent GDP growth expected from the economy to provide sustenance to its expanding needs, it is natural that part of this responsibility will fall on the MSME sector. However, there are fears that the MSME sector will not be capable to fulfill this role due to limited access to capital for investing in capacity expansion or diversification. Keeping in view this limitation and capacity constrain within the rating industry, SEBI registration to SMERA is timely and opportune".
"SMERA is committed to improve the rating penetration in the country for the systematic development of the capital market. SMERA Ratings would assist the Indian investors make suitable investment decisions for their risk profile", he added.
Jet Privilege customers will get a new Tata Photon Whiz or Tata Photon Plus connection at a special price
Dual-technology telecom service provider Tata Teleservices Ltd and Jet Airways have entered an exclusive partnership to offer JetPrivilege. The offer is to JetPrivilege members who wish to buy either a Tata Photon Plus or Tata Photon Whiz connection, anywhere in India-at a price of Rs1,249 and Rs699, respectively. This special offer is available only on Tata Photon Plus and Tata Photon Whiz post-paid plans.
Jet Privilege customers cannot just get a new Tata Photon Whiz or Tata Photon Plus connection at a special price; they can also choose tariff plans of their choice as per their needs and usage patterns. Furthermore, JetPrivilege members will also earn an additional 10% of their monthly bill amount as JP Miles for one year.
Under the offer, JetPrivilege members can opt for any post-paid connection on Tata Photon Plus and Tata Photon Whiz. The offer is available at all Tata Indicom Exclusive Stores across the country and on the company's I-Choose website.
Taurus Mutual Fund new issue closes on 11th March
Taurus Mutual Fund has launched Taurus Fixed Maturity Plan 367 Days Series C, a close-ended income scheme.
The investment objective of the scheme is to generate income with minimum volatility through investments in a portfolio of debt and money market instruments maturing on or before the maturity of the scheme. The tenor is 367 days.
The new issue closes on 11th March. The minimum investment amount is Rs5,000.
CRISIL Short Term Bond Fund Index is the benchmark index. Rahul Pal and Pankaj Jain are the fund managers.