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At present, merchant banks in India are subject to supervision by two types of authorities.
(i) The Reserve Bank of India (RBI) supervises those merchant banks which are subsidiaries or are affiliates of commercial banks. If the merchant banks were to raise deposits, they would have to follow the guidelines issued by the RBI.
(ii) Since the beginning of 1993, the merchant banking has been statutorily brought
under the regulatory framework of the Securities Exchange Board of India (SEBI)
to ensure greater transparency in their working and make them accountable.
(a) The merchant bankers are now to be authorized by SEBI. (b) They will have
to follow the stipulated capital adequacy norms. (c) They have to abide by a code of conduct which specify a high degree of responsibility towards investors in respect of pricing and premium fixation of issues and disclosures in the prospectus or offer letter for issues.
State Bank of Indias Merchant Banking Group is strongly positioned to offer perfect financial solutions to your business. They specialize in the arrangement of various forms of Foreign Currency Credits for Corporates.They provides the resources, convenience and services to meet the needs by arranging Foreign Currency credits through:
Commercial loans
Syndicated loans
Lines of Credit from Foreign Banks and Financial Institutions
FCNR loans
Loans from Export Credit Agencies
Financing of Imports.
They are internationally the most Preferred Bank by Export Credit Agencies for Guarantees in case of the Indian Clients or Projects.
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