Reference: Securities and Exchange board of India
Update:
Sebi tightens disclosure norms on loan defaults for listed companies
All listed entities which have listed specified securities (equity and convertible securities), NCDs and NCRPS shall make disclosure of any default on loans, including revolving facilities like cash credit, from banks / financial institutions which continues beyond 30 days. Such disclosure shall be made promptly, but not later than 24 hours from the 30th day of such default
In case of unlisted debt securities such as Non-Convertible Debentures (NCDs) and Non-Convertible Redeemable Preference Shares (NCRPS), the disclosure shall be made within 24 hours from the occurrence of the default.
Implication:
The decision is aimed at addressing the gaps in the availability of information to investors, the Securities and Exchange Board of India (Sebi) said in a circular. This would be applicable from January 1, 2020.
Reference: Reserve Bank of India
Update:
Change in Name of \”West Bengal State Co-operative Bank Ltd\” to \”The West Bengal State Co-operative Bank Ltd.”
RBI has advised that the name of “West Bengal State Co-operative Bank Ltd.” has been
substituted with “The West Bengal State Co-operative Bank Ltd.” in the Second Schedule to the Reserve Bank of India Act, 1934.
Implication:
West Bengal State Co-operative Bank Ltd” shall now operate its function under the name “The West Bengal State Co-operative Bank Ltd”.
