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Thursday, January 7, 2010

SEBI eases asset cover norms for unsecured debt

India's market regulator said on Thursday regulated finance companies now no longer need to show 100 percent asset cover while selling unsecured debt instruments to raise capital, removing an earlier requirement.

The Securities and Exchange Board of India (SEBI) had in November said that, in case of listed securities, the issuer should maintain 100 percent asset cover sufficient to discharge the principal.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Monday, Jun 09
21:00 6-Month Bill Auction 1 4.15% 4.15%
Tuesday, Jun 10
04:31 BRC Like-For-Like Retail Sales (YoY) 2 0.6% 2.7% 6.8%
06:00 Westpac Consumer Confidence 2 0.5% 2.2%
07:00 National Australia Bank's Business Confidence 1 2 -1
07:00 National Australia Bank's Business Conditions 1 0 2
11:30 Average Earnings Including Bonus (3Mo/Yr) 2 5.5% 5.5%
11:30 Employment Change (3M) 3 112K
11:30 ILO Unemployment Rate (3M) 3 4.6% 4.5%
11:30 Average Earnings Excluding Bonus (3Mo/Yr) 2 5.4% 5.6%
11:30 Claimant Count Change 3 9.5K 5.2K
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