Page 10 - Banking Finance December 2022

ROUNDUP

Market Price (VWAMP) for 60 trading Managing Director & Chief Executive to 75 kmph," the Ministry of Railways
days immediately preceding the date Officer of the firm. said in a statement.
of the public announcement.
"His appointment is subject to accep- It added that reliable fog safe devices,
The board of Sebi approved amending tance of the offer made to him and ful- if available, may be provided to the
the takeover regulations in the context fillment of terms and conditions includ- Loco Pilots in all locomotives running in
of strategic disinvestment of PSUs and ing approval from the Shareholders of fog affected areas during fog.
consideration payable under open of- BSE," said the exchange in a filing.
The ministry has asked railway zones
fer.
Ramamurthy is currently the Chief Op- to keep adequate supply of detonators
erating Officer-India at Bank of --detonating signals, otherwise known
SEBI's new framework for America. as detonators or fog signals, are appli-
intermediaries Previously, he was associated with the ances which are fixed on the rails and
when an engine passes over them, they
National Stock Exchange of India (NSE)
Sebi has put in place a revised frame-
explode with a loud report so as to at-
in various roles for nearly two decades
work for seeking its prior approval for
tract the attention of the driver.
before leaving it in October 2014.
changes in control of stock brokers,
depository participants and other mar- "Lime marking across the track at the
ket intermediaries. Trade settlement in Ru- sighting board (or at distant signal in
case of double distant signals) must be
The framework will be applicable for pees: Govt, RBI devise
done," it added.
stock broker/clearing member, deposi-
country - specific plan
tory participant, investment adviser, The ministry said in a statement said
The central government and the Re-
research analyst or research entity, that all signal sighting boards, whistle
serve Bank of India have devised a boards, fog signal posts and busy vul-
registrar to an issue and share trans-
country-specific plan towards imple- nerable level crossing gates, which are
fer agent and KYC Registration Agen-
cies (KRAs). mentation of overseas trade in rupee, accident-prone, should either be
people aware of the matter said. To painted or provided with yellow/black
In a circular, the regulator said the
start with, a small number of banks will luminous strips. The work of repainting
changes have been made to streamline
be allowed to manage cross-border for their proper visibility should be
the process of providing approval to
transactions in domestic currency with completed before the onset of the
the proposed change in control of the
a particular country. The Reserve Bank foggy season.
entities.
of India has allowed the opening of 18
Under the provisions, which will be ef- special vostro accounts and majority of
Railways to export Vande
fective from December 1, an interme- these have been opened to facilitate
diary should apply online for Sebi's trade with Russia. Bharat trains by 2025-26
prior approval and along with the ap- Indian Railways is looking at becoming
plication, the entity concerned has to Railways increases max an exporter of Vande Bharat trains by
submit various details, including the 2025-26 to markets senior official said.
speed of trains
current and proposed shareholding
The latest version of the indigenous
To avoid delay of trains during the
pattern of the applicant.
trains with sleeper coaches will be op-
foggy season, the Indian Railways has
SEBI gives nod to appoint- decided to enhance the maximum per- erational by the first quarter of 2024.
missible speed of trains to 75 km per The official said the railways is planning
ment of Ramamurthy as to clock 1-1.2 million kilometres on 75
hour from the present 60 km per hour.
MD & CEO of BSE "It has been decided that with the use Vande Bharat trains over the next few
years to ensure that they are export-
The BSE said that the Securities and of fog devices in locomotives, the maxi-
ready.
Exchange Board of India (Sebi) has ap- mum permissible speed during foggy/
proved the appointment of inclement weather conditions can be "The ecosystem to export trains has to
Sundararaman Ramamurthy as the enhanced from 60 kmph (km per hour) be created over the next two to three

10 | 2023 | JANUARY | BANKING FINANCE