New Instruments: RBI Flags off IDRs

Standard Chartered Bank (Stanchart) of the UK is in line to become the first issuer of Indian Depository Receipts (IDRs) after it obtained a green signal for its fund raising from the Reserve Bank of India (RBI). Stanchart will now file a prospectus with the Securities and Exchange Board of India (SEBI) and is on course to be the first foreign entity to be listed on the Indian stock exchanges....

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