New Delhi, July 10 -- In a bid to streamline the operations of international financial services centres (IFSC), the Securities and Exchanges Board of India (SEBI) on Thursday said that it has revised the eligibility and shareholding limit for stock exchanges desirous of operating in IFSCs.
In a circular, the regulator said that based on the internal discussions and consultations held with the stakeholders, it has been decided to amend clause 4 (1) of SEBI (IFSC) Guidelines, 2015.
Under the revised framework, any Indian recognised stock exchange or a bourse of foreign jurisdiction may form a subsidiary to provide the services of stock exchange in IFSC wherein at least 51 per cent of paid up equity share capital is held by such exchange and...