New Delhi: The board of markets regulator Securities and Exchange Board of India (SEBI) on Friday approved a wide range of proposals, including the reintroduction of open market share buybacks through stock exchanges, relaxation of intraday borrowing norms for mutual funds and simplification of securities transfer procedure following an investor's death.

Follow The PSUWatch Channel on WhatsApp

Also, the board decided to establish a green-channel mechanism -- GARUDA-- to speed up the launch of schemes by alternative investment funds (AIFs). This mechanism allows them to begin fundraising within 10 working days of filing their placement memorandums, compared with the current waiting period of 30 days.

Further, the Sebi board approved measures aimed at reviving agricultural commodity derivatives trading.

Follow PSU Watch on LinkedIN

In its board meeting, the regulator has decided to reintroduce open market share buybacks through stock exchanges with a faster execution timeline.

Reintroducing this buyback method would provide companies with an additional mechanism for undertaking buybacks while ensuring equitable opportunity and tax treatment for public shareholders.

(PSU Watch is India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy. 👉 Click to join our channel now: PSUWatch WhatsApp Channel. Prefer LinkedIn? Follow PSU Watch on LinkedIN. Click to stay connected on Twitter here and stay updated)