December 22, 2009
Press
Release no. 1
NSCCL Rated “CCR AAA” for second consecutive year
For second consecutive year CRISIL
has assigned its highest corporate credit rating of ‘CCR AAA’ to the National
Securities Clearing Corporation Ltd (NSCCL). 'CCR AAA' rating indicates highest
degree of strength with regard to honouring debt obligations. As per CRISIL the
rating reflects NSCCL’s status as Clearing Corporation for NSE,
CRISIL has further stated that NSCCL’s risk management system is comprehensive, and is constantly upgraded to pre-empt market failures. The company addresses risks in clearing and settlement with its stringent norms for selection of members, robust margining system, and risk-based position limits and surveillance mechanism.
Press
Release no. 2
Launch of Trade Receivables Engine for e-Discounting ‘NTREES’ by Finance Secretary, Shri Ashok Chawla
Vigyan Bhawan,
22 December 2009
Finance Secretary, Shri Ashok Chawla today launched an e-platform ‘NTREES’, an acronym for Trade Receivables Engine for E-discounting. NTREES, promoted by SIDBI & NSE, which will facilitate discounting of MSME bills on their supplies to large purchaser companies.
Iterating the importance of the
historic event, Shri Chawla discussed the journey of MSMEs that have been
recognized as the true engines of growth not just in
Over the years, MSME needs have gradually expanded with credit being one of the critical requirements which is provided to them by banks, as well as, specialised financial institutions, such as the SIDBI.
NTREES provides a qualitative approach to addressing their needs and he expressed his hope that this will take off and become an optimum framework and institutional mechanism. In the next phase, as more and more banks adopt this platform, the platform could also emerge as a price discovery mechanism.
Congratulating SIDBI and NSE on this path breaking endeavour, Shri Chalwa extended his best wishes towards the success of NTREES.
The launching occasion at Vigyan
Bhawan,
Shri Ravi Narain, MD and CEO of
NSE stated that major challenges facing the MSMEs today are meeting their
capital requirements at reasonable cost. NTREES is a unique and exciting
platform to address these challenges for MSMEs.
Shri Narain expressed his acknowledgement towards SIDBI’s partnership
for this unique platform and hoped that NTREES – which has received encouraging
response, becomes an industry-wide platform and goes a long way in its mission.
He further stated that the present e-platform NTREES is the beginning of a
series of collaborations of SIDBI with the NSE. For instance, SIDBI and the NSE
are further collaborating for developing ‘SME Exchange’ for the first time in
In his special address, Shri Venugopal Dhoot of Videocon Group said that despite size, MSMEs in India produce large quantities of high quality goods and services for larger companies, and hence vital from their perspective. In order for Indian economy to achieve a consistently high rate of growth and achieve a super-power status by 2010, these MSMEs need to be strengthened and NTREES is an innovative platform for MSMEs providing them an impetus for further growth.
Shri R M Malla, CMD, SIDBI, informed that the Bank’s Bill Discounting mechanism called Receivable Finance Scheme, has grown in popularity over the years to reach out to more than 17,000 MSME suppliers related with about 250 large corporates. NTREES replaces the paper-based physical mechanism with e-trading which will make discounting of bills transactions cost-effective, expeditious, and more transparent. This will be a win-win situation for MSMEs, purchaser companies, banks and FIs. He expressed confidence that NTREES will stand out in the world as a unique concept.
Shri Malla mentioned that NTREES is a part of SIDBI’s financing and developmental support to MSMEs. While mentioning various diverse activities of SIDBI, he said that with GOI support, SIDBI has set up Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) for encouraging collateral free lending to MSEs. During the current FY, SIDBI is committed to provide over 1 lakh credit guarantees. SIDBI has also set up SIDBI Venture Capital Limited for providing equity/risk capital support, a dedicated rating agency called SMERA for credit rating of MSMEs and an asset reconstruction company called ISARC, to take over the NPAs of the MSME sector and free capital for better productive use by banks and FIs.
Shri Malla thanked GoI and Reserve Bank for providing special support to MSMEs by way of refinance assistance to SIDBI. This has facilitated SIDBI recording more than 85% growth in its credit disbursement and 50% in credit outstanding during FY 2009.
Press Release no. 3
NSE completes its 2454th
The Exchange has successfully completed its 2454th
Normal Settlement (Rolling T+2 following SEBI
directive) since inception i.e., Settlement Number N – 2009236 on December 22, 2009. The settlement statistics
are as follows:
Particulars
|
Values
|
|
|
N-2009236
|
|
Total traded quantity (lakhs) |
6428.62 |
|
Total traded value (Rs. In Crores) |
13508.83 |
|
Total value of the settlement (Securities) (Rs. In Crores) |
3113.61 |
|
Total value of the settlement (Funds) (Rs. In Crores) |
764.20 |
Shortages for the settlement
|
0.17% |
|
% of Delivery ( No. of shares deliverable / No. of shares traded ) |
23.07% |
Retail Debt Market has completed
its 1728th settlement, details of which are as follows:
|
Settlement No. |
Traded Value |
Settlement Value |
|
|
|
|
Securities |
Funds |
|
D- 2009236 |
NIL |
NIL |
NIL |
Press Release no. 4
Market-wide Position Limit in ABAN
The derivative contracts in the underlying ABAN have
crossed 95% of the market-wide position limit on December 22, 2009. It is
hereby informed that all clients/ members shall trade in derivative contracts
of ABAN
by offsetting their existing positions till the open interest comes down
to 80% of the market wide position limit.