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BUSINESS BRIEFS

Monday, June 03, 2013

BSE Gets SEBI Approval To Launch Debt Trading Platform
The BSE Ltd has received approval from the Securities Exchange Board of India to launch its debt platform under the new regulations. The SEBI’s approval allows BSE Ltd. to launch a debt platform where banks, primary dealers, insurance companies, provident funds and pension funds can be trading members. This window for trading in debt instruments opens up a new avenue for retail investors to buy debt.

Corporate bonds are an attractive investment to retail investors as they provide stable returns. The new debt trading platform will bring in a lot of transparency and ease of settlement.

The debt trading platform at BSE Ltd will provide retail investors with an opportunity to  invest in Corporate bonds on a liquid and transparent exchange platform. It will further provide an opportunity to Institutions to buy and sell at optimum prices and help Corporates to get adequate demand, while issuing bonds.

Four Iranian Banks Propose To Open Branch In India, Says Consul General
“Indo-Iranian bilateral trade stands at $ 15.9 billion. However, the high tariff structure maintained by India restricts further growth which needs to be rationalised as preferential tariff system between India and Iran shall boost trade ties between the nations. Secondly, India should expedite the route through the Chabahar Port which shall be a gateway for India to Iran and the Central Asian countries. The progress of the Port shall facilitate the Chabahar Railway Project and the Chabahar fertilizer mill. Four Iranian banks look forward to opening branches in India. However, due to the cumbersome procedures and guidelines of RBI they are unable to start operations. Our delegation recently met the Ministry of Finance and the RBI officials to further the same”, says Masood E. Khaleghi, Consul General, Consulate General of the Islamic Republic of Iran calling upon India to accelerate necessary reforms to facilitate Indo-Iranian relations. He was speaking at a meeting organised by MVIRDC World Trade Centre Mumbai and All Indian Association of Industries with a high level business delegation from the Azarbaijan Province of the Islamic Republic of Iran.

Further Khaleghi asked why the Indo-Iranian bilateral trade can’t cross US$ 60 billion when the same exists between India and China.

Vijay Kalantri, Vice-Chairman, MVIRDC World Trade Centre Mumbai and President, All India Association of Industries said that there exists huge indirect trade with the nation. Kalantri called upon for greater interaction between the nations through further exchange of delegations in the days to come.

Further, MOUs were signed in between MVIRDC World trade Centre & Urumieh Chamber of Commerce, Industry and Mines and All India Association of Industries and Urumieh Chamber of Commerce, Industry and Mines to facilitate trade promotion between the two countries.

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