Board of Governors of the Federal Reserve System (via Public) / Dealer Inventory Constraints in the Corporate Bond Market during the COVID Crisis publicnow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from publicnow.com Daily Mail and Mail on Sunday newspapers.
All historical data available in the database will continue to be hosted by the depositories. They will have to ensure to have adequate systems and safeguards to maintain the integrity of data and to prevent manipulation of data. Each depository will have to synchronise the database in consultation with the other depositories. The depository which receives information from an issuer will have to host the same as well as share it with the other depository for hosting within three working days from the date of receipt of the information. Also, they will have to provide secure login credentials to issuers, stock exchanges, credit rating agencies and debenture trustees for updating and verifying requisite information in the corporate bond database within the required timelines.
Unfazed by Covid-19, fund raising for public issues jumped by 115% in FY21
April 14, 2021
Right issues saw an increase of 15%
Pandemic does not seem to have affected fund mobilisation through capital market as Financial Year 2020-21 (FY 21) saw resources raising through public issue more than doubled. Mutual fund and corporate bond market also registered good growth; a Finance Ministry statement released on Wednesday.
“Despite the uncertainty prevailing in FY 2020-21 owing to Covid-19 pandemic, fund raising in FY 2020-21 was better than that in FY 2019-20 for both Public Issues and Rights Issues,” the statement said.
According to data compiled by the Ministry, fund raising through public issue jumped 115 per cent during FY 21 while growth was 15 per cent for rights issues. Similarly, number of unique investors across different kind of mutual fund grew by 10 per cent, while number of issues in Corporate Bond Market increased by 10 per cent in FY 2020-21.
Rising yields turn the tide for India’s corporate bond market
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Indian banks have been willing investors in corporate bonds this year. The push has come from their corporate borrowers because benign bond yields have had an advantage over loan rates. So much so that the largest lender, State Bank of India (SBI), saw its advances growth get a 1.43 percentage point boost, thanks to corporate bond investments in the December quarter.
This tide may be turning now. Data from the Reserve Bank of India (RBI) shows banks have reduced their investments in corporate bonds and debentures in the past two months. Total investment in corporate bonds by banks was down to ₹5.64 trillion by February-end, a 3.5% fall in two months. That dragged down the non-SLR (statutory liquidity ratio) investment which includes commercial paper and shares by 2.2% for the same period.