The Securities and Exchange Board India (Sebi) has proposed a single regulation for merchant bankers. A Sebi committee to review merchant banking regulations has said that the multiplicity of regulations has to be rationalised.
The committee has also said that in order to avoid multiplicity of regulations, underwriting should be a permitted activity under the respective regulations.
The committee has said that in line with the regulations applicable to other intermediaries, the clause on permitted scope of activity should be deleted, allowing Merchant Bankers to take up activities both fund-based and non-fund based activities in line with the changing market conditions.
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