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To safeguard clients’ funds, SEBI has come out with a framework that requires the upstreaming of all client funds received by stock brokers to clearing corporations.Under the framework, no clients’ funds will be retained by stock brokers on an end-of-day (EoD) basis. Further, clients’ funds will be upstreamed by stock brokers and clearing members to clearing corporations (CCs) only in the form of either cash, lien (a legal claim or legal right which is made against the assets that are held as collaterals for satisfying a debt ) on Fixed Deposit Receipt (FDR) or pledge of units of mutual fund overnight schemes. Other than the FDRs (liened to CCs) and mutual fund overnight scheme (pledged to CCs), any remaining client funds with brokers will be upstreamed to a CC before a stipulated cut-off time.The new framework will come into effect from July 1, 2023. With regards to upstreaming through FDRs created out of clients’ funds, the stock brokers may create FDRs out of clients’ funds only with those banks which satisfy the CC’s exposure norms. Further, every FDR created out of clients’ funds would necessarily be lien-marked to one of the CCs at all times. The tenure of such FDRs will not be more than one year and the FDR should be pre-terminable. Besides, the principal amount of the FDR will remain protected throughout the tenure, even after accounting for all possible pre-termination costs.
The difference between compound interest and simple interest at the same rate for Rs. 3600 for 2 years is Rs. 36. The rate of interest per annum is:
The simple interest on a sum of Rs X in 5 years is (2/5)of the principal. What is the annual rate of interest?
A sum of ₹15,625 is invested for 2 years at an annual interest rate of 8%. For the first 1.5 years, the interest is compounded semi-annually, and for ...
What is the simple interest on a sum of Rs. 10,000 at a rate of 5% per annum for 3 years.
A person 'X' borrowed Rs. 4,000 from a bank on simple interest, which is to be repaid in three equal annual installments. The rat...
A sum of ₹5,000 is invested at 8% simple interest per annum for 3 years. After 3 years, the interest is reinvested at 6% compound interest for 2 years...
A man deposited Rs. 16000 at 10% compound interest, compounded annually while Rs. 14000 at 13% simple interest per annum. What will be the difference be...
A sum of money amounts to ₹13,200 after 3 years at a certain simple interest rate. If the principal was ₹10,000, what was the rate of interest per a...
A person invested some amount at the rate of 12% simple interest and a certain amount at the rate of 10% simple interest. He received yearly interest of...
A sum is lent on compound interest for 2 years at 12% p.a. If the compound interest on the sum is Rs.4579.2, find the sum.
