Synopsis
The rates have been kept at a record low, and some of the current lending schemes have been extended to fuel growth.
Monetary Policy highlights: RBI restores CRR, allows online access to government securities market
NEW DELHI: The Reserve Bank of India (RBI) on Friday took a calculated approach and announced a number of measures which will not just infuse more money in the system but also create a path towards normalcy.
The rates have been kept at a record low, and some of the current lending schemes have been extended to fuel growth. The RBI also created avenues for more retail participation in funding India’s growth. However, the policy announcement failed to assuage the debt market which is fearing a rise in yields.
In a partial relief to alternative investment funds (AIFs), capital markets watchdog Securities and Exchange Board of India (Sebi) has provided certain exemptions to such funds with regard to investment committee. Under the new norms, members of an investment committee of an AIF will no longer be responsible for investment decisions. Also, members of the committee would not be liable for compliance of the AIF investments with the regulatory provisions, governing documents of the AIF and other applicable laws. However, exemption in AIF rule is conditional upon capital commitment of at least Rs 70 crore from each investor accompanied by a suitable waiver, Sebi said in a notification on Friday.
SEBI relaxes investment panel norms; partial relief for AIFs
Under the new norms, members of an investment committee of an AIF will no longer be responsible for investment decisions
PTI | January 11, 2021 | Updated 18:21 IST
Securities & Exchange Board of India (SEBI)
In a partial relief to alternative investment funds (AIFs), capital markets watchdog Sebi has provided certain exemptions to such funds with regard to investment committee.
Under the new norms, members of an investment committee of an AIF will no longer be responsible for investment decisions.
Also, members of the committee would not be liable for compliance of the AIF investments with the regulatory provisions, governing documents of the AIF and other applicable laws.
AIFs can leverage without limits in IFSC
December 11, 2020
This will give offshore fund managers a lot of leeway in taking commercial calls
GIFT City regulator IFSCA has removed several restrictions in current regulations on Alternative Investment Funds (AIFs) operating in International Financial Service Centre (IFSC), providing more flexibility to offshore fund managers looking to set up funds in such centres in the country.
Restrictions on leverage, creation of co-investment pools and diversification norms have been done away with by the International Financial Services Centres Authority (IFSCA).
These measures are expected to give offshore fund managers lot of leeway in taking commercial calls and in structuring funds based on negotiations with investors so as to better returns, say experts. Until now, a category I and II AIF operating in IFSC were not allowed to leverage. Also, Category III funds can only leverage up to a permissible limit.