Sebi reduces public issue timeline to 12 days

The Securities and Exchange Board of India (Sebi) has proposed to reduce the time between the closure of a public issue and its listing to 12 days from the current threshold of 22 days. This will be applicable to public issues will op[en after May 1 2010. It takes bout 3 weeks now.

This way, small time players who want to make some quick buck for listing gains can get better ROI given this reduction.

With ASBA already in place, investing IPO has become that much for friendly for retail investors.

What more can come in IPO markets ??.

Banks to give 3.5% p.a. returns on savings accounts

Starting 1 April, we all will get 3.5% per annum interest for funds that are idle in our savings bank accounts. Earlier banks were mnadated to give 3.5% per annum returns on the lowest balance between the 10th and the end of any month.

Assume that in month, one had deposited a large sum on on the 15th of a month and keep it there for the rest of the month. One would tend to think it will get some interest because the money sat in your account for 15 days, one does not. Because the minimum balance in your account from the 10th to the 15th is zero, that is the amount picked up to calculate the interest.

Banks will have to give interest on a daily closing basis.

Government to contribute in New Pension Scheme (NPS)

In the recent budget, there is a proposal that the government will match contributions upto Rs 12,000 a year to people who contribute up to Rs 12,000 a year into their New Pension System (NPS) accounts as a perk and boost investment in NPS which has not taken of in a big way.

More on NPS and the Pros and Cons of the same in future.

Meanwhile, happy reading.