Sebi meet: NBFCs to get QIB status; unified licence for brokers

The regulator relaxed criteria for banks in preferential allotment of shares

The Securities and Exchange Board of India (Sebi), at its board meeting on Wednesday, allowed a unified licence for brokers to operate in the equity and commodity markets, a move to bring in more harmony and similar stature for both the participants. Sebi also proposed systemically important non-banking finance companies (NBFCs) of certain worth to be categorised as qualified institutional buyers, making them eligible for participation in initial public offering with specifically earmarked allocations.

To make single licence regime effective, market regulator said it would amend rules pertaining to stock brokers and clearing member rules. The new rule