Question
Which of the following is not a criterion for a Stock
exchange whose subsidiary can be an Accreditation Agency?Solution
It is preferred that, to begin with, the number of institutions which are eligible to be Accreditation Agencies be limited to a small number. Accordingly, the following criteria may be specified for Recognized Stock Exchanges whose subsidiaries may be eligible to carry out accreditation as proposed in the framework: (a) Minimum 20 years presence in Indian securities market, (b) Minimum networth of INR 200 crores, (c) Presence of nation-wide terminals, (d) Having Investor grievance redressal mechanisms in place, including Arbitration, (e) Presence of Investor Service Centers (ISCs) in at least 20 cities, and (f) any other criteria as specified by the Board from time to time.Â
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