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With reference to the market infrastructure institutions (MIIs), consider the following statements:
1. As per the key proposals, a resident promoter setting up an MII may hold up to 50% shareholding, which will be brought down to not more than 25% in 10 years.
2. Foreign individuals or entities from other than FATF member jurisdictions may acquire or hold up to 5% in an MII.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
With reference to the market infrastructure institutions (MIIs), consi...
The Securities and Exchange Board of India (SEBI) has floated a discussion paper on review of ownership and governance norms to facilitate new entrants to set up stock exchanges and depositories, otherwise called as market infrastructure institutions (MIIs).
  • As per the key proposals, a resident promoter setting up an MII may hold up to 100% shareholding, which will be brought down to not more than (either 51% or 26%) in 10 years.
  • A foreign promoter from Financial Action Task Force FATF member jurisdictions setting up an MII may hold up to 49% shareholding, which shall be brought down to not more than (either 26% or 15%) in 10 years.
  • Foreign individuals or entities from other than FATF member jurisdictions may acquire or hold up to 10% in an MII.
  • Any person other than the promoter may acquire or hold less than 25% shareholding.
  • At least 50% of ownership of the MII may be represented by individuals or entities with experience of five years or more in the areas of capital markets or technology related to financial services.
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With reference to the market infrastructure institutions (MIIs), consider the following statements:1. As per the key proposals, a resident promoter setting up an MII may hold up to 50% shareholding, which will be brought down to not more than 25% in 10 years.2. Foreign individuals or entities from other than FATF member jurisdictions may acquire or hold up to 5% in an MII.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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With reference to the market infrastructure institutions (MIIs), consider the following statements:1. As per the key proposals, a resident promoter setting up an MII may hold up to 50% shareholding, which will be brought down to not more than 25% in 10 years.2. Foreign individuals or entities from other than FATF member jurisdictions may acquire or hold up to 5% in an MII.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the market infrastructure institutions (MIIs), consider the following statements:1. As per the key proposals, a resident promoter setting up an MII may hold up to 50% shareholding, which will be brought down to not more than 25% in 10 years.2. Foreign individuals or entities from other than FATF member jurisdictions may acquire or hold up to 5% in an MII.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the market infrastructure institutions (MIIs), consider the following statements:1. As per the key proposals, a resident promoter setting up an MII may hold up to 50% shareholding, which will be brought down to not more than 25% in 10 years.2. Foreign individuals or entities from other than FATF member jurisdictions may acquire or hold up to 5% in an MII.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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