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Question

Which of the following statements is/are correct with reference to the market infrastructure institutions (MIIs)?

A 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.
B Foreign individuals or entities from other than FATF member jurisdictions may acquire or hold up to 5% in an MII.
C Both A & B
D None of these
Answer & Explanation
Option: 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.

Explanation:

Securities and Exchange Board of India (SEBI) proposed a new framework for ownership of market infrastructure institutions to facilitate new entrants to set up stock exchanges and depositories. 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. Foreign individuals or entities from other than FATF member jurisdictions may acquire or hold up to 10% in an MII.
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