FMC Merges with SEBI: FIVE facts to know about the unprecedented merger of regulators...!


The amalgamation of Forward Markets Commission (FMC), the erstwhile commodities regulatory body, with capital markets watchdog Securities and Exchange Board of India (SEBI) came into effect today, marking the first major case of 2 regulators being merged.

Although, the merger of these 2 independent regulatory bodies was under discussion for long time, the move gathered pace, especially, after the commodity market was rocked by the outbreak of a multi-crore scam at National Spot Exchange (NSEL) unearthed 2 years back.

Now that the merger has been done with, below is the draw down of the journey of the commodities regulatory body & what led to the eventual covergence with the capital markets regulator SEBI.

(1) History of the 2 Regulatory bodies..!

The Forward Markets Commission regulated commodities market since 1953, while the Securities and Exchange Board of India was set up in 1988 as a non-statutory body for regulating the securities markets and became an autonomous body in 1992 with full independent powers.

Currently, India boasts of three national and 6 regional bourses for commodity futures in the country. The persisting global economic slowdown coupled with slackening growth in China fuelled a sharp fall in commodity prices over the past year or so. So, much so that the consolidated turnover of all the exchanges put together fell to nearly Rs. 60 lakh crore in 2014-15 from over Rs. 101 lakh crore in the preceding financial year.

(2) Issues stifling commodities markets..!

FMC oversaw the commodities market for over 60 years, but it lacked powers which led to wild fluctuations and alleged irregularities remaining untamed in this market segment.

Also, the commodities market faced challenges with respect to speculative activities and illegal activities like 'dabba trading' flourishing in this segment.

Cautioning small investors, SEBI chairman Mr. UK Sinha had once said, "If you put your hard-earned money into this market, it may not be ultimately good for you. The commodities market is for those who are experts in this space. For non-experts, it is a risky area."

(3) Talks of merger..!

The merger talks between the two regulatory bodies was first mooted in 2003, and continued in next few years before the Rajan committee in 2009 reiterated consolidation of all financial sector regulators under one umbrella. 

In the events before the outbreak of NSEL crisis came to light, Justice BN Srikrishna-led FSLRC recommended unified regulation.

But, the fallout of NSEL prompted finance ministry to bring FMC under its fold in that same year. Finally, in his budget speech this year in February, finance minister Arun Jaitley announced the merger of FMC with SEBI.

(4) What merger aims to achieve..!

The merger is aimed at streamlining the regulations and curb wild speculations in the commodities market, while facilitating further growth there.

“The merger will increase economies of scope and economies of scale for the government, exchanges, financial firms and stakeholders,” finance minister Arun Jaitley has been quoted as saying in reports.

 The minister also promised a more steps measures to further develop the market. He said there is no reason why the commodities market should not have options or index futures. He also said in future banks and foreign portfolio investors will also be allowed to participate in the markets.

(5) Measures by SEBI..!

 SEBI has also created a separate Commodity Cell and has set up new departments for regulation of commodities derivatives market. SEBI has formed a Commodity Cell by posting its senior officials, while 2 internal departmental committees (one each in Integrated Surveillance Department & Market Intermediaries Regulation and Supervision Department) have been set up.

The market regulator has also sought help from the Agriculture Ministry with regard to the data sources for the prices and to improve the methodology for determination of final settlement price. It will also give up to one year time for those in commodities market to adjust to new regulations.


Src: Firstpost With inputs from PTI
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More than 2 Home Loans - What About Interest Rate?

Generally only 2 home loans are allowed under normal home Loan interest.
If a customer avails a 3rd home Loan, as per the prevailing rules, Banks charge interest above the normal Rate of Interest. 

Several Banks charge O.5% extra over the normal rate of interest.

It varies from Bank to bank and among financial institutions. It is better to take up with 2 to 3 banks & after comparison of interest rates, the customer may choose a bank / financial institution to avail the 3rd home loan.



It is better for the customer to reveal the fact that he / she has already availed 2 home loans under normal rate of interest. 

There is no exemption for Non-Resident Indians (NRIs) in respect of rate of interest  for home loans.
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Will RBI’s Generous Rate Cut Revive The Indian Real Estate Industry?

By Mr. Anuj Puri, JLL India

As opposed to the market’s expectation of a 0.25% cut, the RBI has delivered an astounding 0.50% reduction. 

With this, it has clearly abandoned its cautious baby-steps approach and assumed a bolder stance, obviously because the current economic fundamentals provide it with the room to do so. 

Given the magnitude of this step, I do not think any further rate cuts are likely in this financial year, especially since the RBI foresees a moderate growth in inflation rate in the interim months.

For the affordable housing sector, the outlook is nevertheless bright, since the RBI governor has made provisions for lending to this sector to become less stringent and broader in scope.

Of course, real estate industry stakeholders – particularly end-users and investors in residential property – is still left with questions about how well RBI’s latest move will work in reviving the industry. It has been noted that selling prices must come down before any significant revival can take place, and that reduced interest rates alone are not sufficient.

In the first, place it is incorrect to say that prices have not corrected. A majority of new housing project launches have been at lower rates than those of earlier projects launched in the same category projects and in the same locations. 
Anuj Puri, JLL India

Also, while developers in the residential sector are definitely feeling the pinch owing to high inventory levels and restricted upward momentum in prices, they are careful not to continue with a slew of new project launches in the premium and luxury segment.

Rather, over the last few quarters, the focus has been on launching projects that fall in the mid-segment category. In the case of tier-I cities, this would include apartments priced under Rs. 1 crore.

Firstly, there is ample demand for mid-segment homes within the city limits of major metros in India. Secondly, executing projects in the affordable category requires good technical expertise and a high level of professionalism, and therefore may not be a forte for a large set of developers.

As a consequence, over the next few years, average prices across major cities would witness a fall to levels that are more sustainable. It is important that both the RBI and government take necessary prerogatives to boost developments in the affordable category. 

Policies like Housing for All and the recent RBI directives will go a long way in helping the cause.

By Mr. Anuj Puri, Chairman & Country Head, JLL India


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“LifeBadlo Boss” with HCL TalentCare’s transformational programs for graduates and engineers

“LifeBadlo Boss” with HCL TalentCare’s transformational programs for graduates and engineers

HCL TalentCare, the global talent-solutions venture from HCL Corporationhas launched a print and digital advertisement campaign called “Life Badlo Boss”. The campaign amplifies HCL TalentCare’s goal to bridge the skill gap and transform graduates and engineers with additional skills that prepare and align them for effective employment in top notch enterprises in IT, Banking, Insurance and Healthcare sector.

Ideated and conceptualised by Chennai based‘Life Badlo Boss’ or ‘Life Maathu Boss’ (Tamil) captures the transformation journey of young graduates and engineers looking for a job to becoming seasoned and trained professionals well placed in career. 


These graduates and engineers will undergo a 6-month all residential transformational programs from HCL TalentCare called The Young Engineer Program (YEP)or theYoung Graduate Program (YGP). These flagship programs from HCL TalentCare prepare graduate and engineers to be Job Ready with 3 months of rigorous training at the Hyderabad and Chennai campuses and 3 months of on job internship for honing the student’s practical skills.

Launching the campaign Vijay Iyer, Chief Business Officer, HCL TalentCare said, “Several studies indicate that a large proportion (upward of 75%) of new college graduates do not possess the skills required to be readily employable in roles for which they seek to be hired. 

HCL TalentCare addresses this skill gap and plans to develop a large pool of talent for specific entry-level roles in industrydelivering ‘Productivity-On-Arrival’. ‘Life Badlo Boss’ is all about this transformational journey that a student undergoes with us at HCL TalentCare.’’
Commenting on the media plan of ‘Life Badlo Boss’, Sharad Haksar, CEO, 1pointsize said, ‘’The artwork in English has been rolled out in key national dailies across target markets in North, West and South while the Tamil version will be featured in regional publications of Tamil Nadu. In the second phase we will target other educational hubs and pockets in Andhra Pradesh, Karnataka and Orissa.’

About HCL TalentCare


HCL TalentCare is a wholly-owned subsidiary of HCL Corporation. It aims to be a global talent-solutions company offering integrated products and services to meet the growing demand for quality talent. HCL TalentCare’s focus is to create skill development solutions that offer a career launch pad for students and a ready pool of employable talent for enterprises in the IT, Banking, Insurance and Healthcare sectors. For more information, visit hcltalentcare.com
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SBI All loans would become cheaper by 0.40%.


RBI cut benchmark repurchase (repo) rate from 7.25% to 6.75%, lowest in four-and-half-years.

Soon after reduction in repo rate by the Reserve Bank of India (RBI) , country’s largest lender State Bank of India (SBI) on Tuesday (September 29, 2105)  slashed minimum lending or / base rate by 0.4% to 9.3 %, setting the trend for benign interest rate regime.
With the reduction in the base rate, all loans, including housing loan, auto laon and corporate laon, would become cheaper by at least 0.40 per cent.

The SBI bank has decided to reduce the base rate by 0.40% to 9.3% with effect from 2015 October 5, SBI said in a statement.


“RBI has cut interest rate by 0.50%, we have reduced it by 0.40%,” SBI Chairperson Ms. Arundhati Bhattacharya said.

The bank will also be cutting fixed deposit rates by 0.25% across various maturities from October 5, she added.

“We will definitely keep looking at ways and means of bringing down rate further. Going ahead, weakening of rate will add to growth of credit,” Ms. Bhattacharya said.

With the reduction, SBI’s base rate is the lowest in the market. The reduction by the largest lender is likely to be followed by others.

Meanwhile, Andhra Bank also reduced its base rate by 0.25% to 9.75%.
Base rate is the minimum rate below which a bank can’t lend to consumers.
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Registered Investment Advisors in India - J

Registered Investment Advisors - J

1. Name
JAISHANK YOGESH GUPTA
Registration No.
INA000001902
Category
INDIVIDUAL
Contact Person
JAISHANK GUPTA
Registration Expires on
JUN 18, 2019
Registered Office Address
C/O, SYKES & RAY FINANCIAL PLANNERS
1ST FLOOR, DAULATRAM MNASION, KITRIDGE ROAD,,MUMBAI,400005
Correspondence Address
C/O, SYKES & RAY FINANCIAL PLANNERS

1ST FLOOR, DAULATRAM MNASION, KITRIDGE ROAD,,MUMBAI,400005


Phone no
000 00000000
E mail
jaishank@sre.co.in
2. Name
JATIN THUKRAL
Registration No.
INA100000127
Category
INDIVIDUAL
Contact Person
JATIN THUKRAL
Registration Expires on
AUG 20, 2018
Registered Office Address
FF-2, FIRST FLOOR, OMAXE SQUARE
JASOLA COMMERCIAL CENTER, JASOLA VIHAR,NEW DELHI,110025
Correspondence Address
141, NARMADA APPARTMENTS

ALAKANANDA,NEW DELHI,110025


Phone no
01141027733
E mail
jatin.thukral@gmail.com
3. Name
JAYANT VIDWANS
Registration No.
INA000002132
Category
INDIVIDUAL
Contact Person
JAYANT VIDWANS
Registration Expires on
AUG 27, 2019
Registered Office Address
A-6, GANESH NAGAR SOCIETY,
GOGATE WADI, OFF AAREY ROAD, GOREGAON (EAST),MUMBAI,400063
Correspondence Address
A-6, GANESH NAGAR SOCIETY,

GOGATE WADI, OFF AAREY ROAD, GOREGAON (EAST),MUMBAI,400063


Phone no
022 29275583
E mail
jayantvidwans@yahoo.co.in
4. Name
JIGNESH HARSHADRAI SHAH
Registration No.
INA000000789
Category
INDIVIDUAL
Contact Person
JIGNESH HARSHADRAI SHAH
Registration Expires on
JAN 01, 2019
Registered Office Address
JIGNESH HARSHADRAI SHAH
308, VIMAL SOCIETY, BANGANGA, WALKESHWAR, ,MUMBAI,400006
Correspondence Address
JIGNESH HARSHADRAI SHAH

308, VIMAL SOCIETY, BANGANGA, WALKESHWAR, ,MUMBAI,400006


Phone no
022-23683782
E mail
mr.jignesh.shah@gmail.com
5. Name
JITENDRA PRATAP SINGH SOLANKI
Registration No.
INA100000184
Category
INDIVIDUAL
Contact Person
JITENDRA PRATAP SINGH SOLANKI
Registration Expires on
OCT 08, 2018
Registered Office Address
C-101, FIRST FLOOR, BRIJ VIHAR , GHAZIABAD
,GHAZIABAD,201011
Correspondence Address
C-101, FIRST FLOOR, BRIJ VIHAR , GHAZIABAD

,GHAZIABAD,201011


Phone no
01202640276
E mail
jituspdm@gmail.com
6. Name
JOMON JOSEPH
Registration No.
INA200000720
Category
INDIVIDUAL
Contact Person
JOMON JOSEPH
Registration Expires on
DEC 30, 2018
Registered Office Address
KIRIYANTHAN HOUSE
NJARAKKAL,ERNAKULAM,682505
Correspondence Address
KIRIYANTHAN HOUSE

NJARAKKAL,ERNAKULAM,682505


Phone no
04844059310
E mail
jomjom97@gmail.com
7. Name
JYOTI LODHWAL PROPRIETOR ADVISER STREET
Registration No.
INA000003437
Category
INDIVIDUAL
Contact Person
JYOTI LODHWAL
Registration Expires on
SEP 06, 2020
Registered Office Address
OLD 215, NEW 484
SECTOR - F, RAJ NAGAR,INDORE,452001
Correspondence Address
OLD 215, NEW 484

SECTOR - F, RAJ NAGAR,INDORE,452001


Phone no
0731-000000
E mail
adviserstreet@gmail.com


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