Bloomberg News

Structured Note Sales Resume in India, Business Standard Says

March 15, 2012

Indian issuers have resumed selling principal-protected structured notes after a hiatus of about four months that followed the introduction of new regulations, the Business Standard reported yesterday.

The Securities and Exchange Board of India, the country’s regulator, required daily valuation of products in September. That led to a halt in issuance of the securities, the report cited Prateek Pant, head of wealth solutions at Royal Bank of Scotland Group Plc’s private banking business, as saying.

Pant said that because Indian rating company Crisil Ltd. is offering a valuation service, product issuance had resumed, according to the report.

To contact the reporter on this story: Benjamin Garvey in Hong Kong at bgarvey8@bloomberg.net.

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net.


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