Page 9 - Banking Finance December 2022

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PAN may be made identi- quests. "Only 514 applications faced SEBI amends norms to
some sort of technical glitches, which
fier for all biz ease rules for PSU disin-
shows the efficiency of the system",
Businesses can cite their permanent Goyal said. vestment
account number (PAN) as a unique
Sebi can relax regulatory norms for the
identifier for accessing the national
PV firms to invest around central government in relation to stra-
single window system (NSWS) to obtain tegic disinvestment of public sector un-
Rs. 65,000 crore
clearances and approvals from central
dertakings (PSUs), according to a noti-
and state government departments, Passenger vehicle makers are expected
fication. "The Board (Sebi) may after
said union commerce minister Piyush to invest around Rs 65,000 crore by
due consideration of the interest of the
Goyal. FY25 to ramp up production capacities
investors and the securities market and
to cater to enhanced demand, rating
Businesses presently use EPFO number, for the development of the securities
agency ICRA said. It stated that the
ESIC number, GSTN, TIN, TAN and PAN market, relax the strict enforcement of
demand for passenger vehicles has re-
to apply for government approvals. any of the requirements of these regu-
mained healthy since the turn of the
Goyal said that the PAN number will lations if an application is made by the
calendar year, aided by strong under-
help automatically populate other ap- Central Government in relation to its
lying demand and an easing up of semi-
plication forms received in the system strategic disinvestment in a listed en-
conductor shortages.
tity," Sebi said in a notification made
to speed up approvals.
The passenger vehicle industry whole- public.
"We are moving towards using one of
sale volumes are expected to touch an
To give this effect, the regulator has
the existing databases as the entry
all-time high of 3.7-3.8 million units in
amended LODR (Listing Obligations
point, which is already available with
FY23, a growth of 21-24 per cent over
and disclosure Requirements) norms.
the government...and most probably the previous fiscal, driven by robust
that will be the PAN number. So with demand, it added. Earlier in September, the Securities
the PAN, a lot of the basic data about and Exchange Board of India (Sebi) had
With ease in supply chain constraints
the company, its directors, addresses, decided to dispense with a require-
and semiconductor shortage, capacity
and a lot of common data is already ment for calculating open offer price
utilisation of the OEMs (Original Equip-
available in the PAN database," Goyal with respect to the disinvestment of
ment Manufacturers) improved to
told reporters after a review meeting PSUs.
healthy levels over the past few quar-
of NSWS in Delhi. As per Sebi norms, one of the param-
ters - factoring in a continuation of
NSWS, which is in the beta stage, has strong demand sentiments, the OEMs eters prescribed to determine the
received more than 76,000 requests have now revved up their capacity ex- open offer price of a frequently traded
and it has approved around 48,000 re- pansion plans, ICRA said. scrip is Volume-Weighted Average
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