Bizbits

At present, foreign institutional investors are allowed to invest 30 per cent of their corpus in gilts. The dedicated gilt funds are also barred from picking up treasury bills.

SEBI sub-brokers

MUMBAI: The move by the Sebi to register sub-brokers has seen only 4,000 of them register with the regulator till date. Interestingly, SEBI is satisfied with the response as it feels that these are the only sub-brokers who are still existing in the market.Considering that the sub-broker there were 1lakh earlier was a link between the market and the small investor, the market regulator had thought it prudent to push through the registration of sub-brokers. Sources say that the small number is also indicative of the fact that a number of brokers did not come forward to take the responsibility of their sub-brokers of the kind that had been envisaged in SEBI8217;s requirements.