The department of financial services (DFS) under the ministry of finance has issued a ‘written request’ to market regulator Securities and Exchange Board of India (SEBI) to withdraw its revised guidelines for treating all perpetual bonds to be considered as with 100-year maturity.
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Days after finance minister (FM) Nirmala Sitharaman spoke about trading halt at the National Stock Exchange (NSE) and the ‘cost’ of such incidents for the financial markets, the ministry of finance (MoF) has asked the market regulator to share its finding based on the root cause analysis that NSE has been asked to submit within 21 days.
FM Sitharaman held a meeting on Thursday to discuss the issue with key secretaries and SEBI chairman Ajay Tyagi, who is understood to have participated through video-conferencing. We learn that secretaries from the department of economic affairs (DEA), dept of financial services (DFS), department of investment and public asset management (DIPAM) and the revenue secretary were present in the meeting.