Several Steps Proposed to Deepen the Reforms in Capital Market.

Press Information Bureau

Government of India

Ministry of Finance

16-March-2012 14:07 IST

Several Steps Proposed to Deepen the Reforms in Capital Market

The Union Finance Minister ShriPranab Mukherjee while presenting the General Budget 2012-13 in the LokSabha today has proposed a series of steps in deepening the reforms in Capital Market. These include:

• Allowing Qualified Foreign Investors (QFIs) access to Indian Corporate Bond market.

• Simplification of process of issuing Initial Public Offers (IPOs) and loweringof cost.

• Mandatory for companies to issue IPOs of Rs 10 crore and above in electronic form.

• Allowing Electronic Voting facility to provide opportunities for wider shareholder participation.

• Two-way fungibilityin Indian Depository Receipts (IDRs) permitted subject to a ceiling.

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