BSE gets SEBI nod to launch futures contract in gold, silver
Security market regulator Securities and Exchange Board of India (SEBI) has allowed stock exchange major BSE to launch "delivery-based futures contract in dold (1 kg) and silver (30 kg)".
 
According to the BSE, the trading of these contracts will be launched from October 1.
 
"Contract start day will be 6th day of contract launch month and last trading day will be 5th day of contract expiry month," the BSE said in a statement on Wednesday.
 
"The commodity trading session will be from Monday to Friday 10 a.m to 11.30 or 11.55 p.m. Delivery centre of gold and silver futures contract will be exchange designated vaults at Ahmedabad initially and then expanding it pan India in the second phase."
 
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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    Interest on masala bonds to be tax-exempt
    The government on Monday announced tax exemption on interest payable by Indian companies to non-residents, including foreign companies, on "masala bonds" issued till March 31, 2019.
     
    Till now, interest payable on such bonds issued before July 1, 2020 was liable for concessional rate of tax of five per cent.
     
    The announcement came following Prime Minister Narendra Modi's economic review meeting on Friday, after which Finance Minister Arun Jaitley had announced a multi-pronged strategy to contain the Current Account Deficit (CAD) and augment the foreign exchange inflow.
     
    "In this background, low-cost foreign borrowings through off-shore rupee denominated bonds (also called masala bonds) have been further incentivised to increase the foreign exchange inflow," an official statement said.
     
    "Consequently, no tax shall be deducted on the payment of interest in respect of the said bond," it said, adding that legislative amendments in this regard shall be proposed in due course.
     
    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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    Sebi allows strategic investors to invest up to 25% in REITs and InvITs
    Securities market regulator Sebi has eased norms for real estate investments trusts (REITs) and infrastructure investment trusts (InvITs) to raise funds from strategic investors.
     
    According to a Sebi circular, REITs and InvITs can invite subscriptions from strategic investors.
     
    "The strategic investor(s) shall, either jointly or severally, invest not less than 5 per cent and not more than 25 per cent of the total offer size," Sebi said in a circular issued on Thursday.
     
    "The investment manager or manager on behalf of the InvIT or REIT, shall enter into a binding unit subscription agreement with the strategic investor(s), which propose(s) to invest in the public issue of InvIT or REIT."
     
    The circular further states that subscription price per unit, "payable by the strategic investor(s), shall be set out in the unit subscription agreement and the entire subscription price shall be deposited in a special escrow account prior to opening of the public issue".
     
    "The price at which the strategic investor(s) has or have agreed to buy units of the InvIT or REIT shall not be less than the issue price determined in the public issue," the circular reads.
     
    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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