Investors are no longer required to pay stamp duty relating to agreements on demat account under the new guidelines introduced by Sebi, a move that will help save costs during registration with the securities market. Sebi recently replaced the agreements, entered between a depository participant and demat account holder, with a simpler and a common document titled ?Rights and Obligations?. The new agreement will not attract any stamp duty and will benefit new demat holders who would not be required to pay stamp duty of R100 as charged earlier.
Foreign buying crosses Rs 1-lakh-crore mark
Overseas investors were buyers of R1,151 crore ($186.3 million) worth of Indian shares on Thursday, taking total inflows for the year to over R1 lakh crore, regulatory and exchange data show. FII flows have earlier crossed the R1-lakh-crore mark in 2012 and 2010. They have made net purchases of around $18 billion so far this year, making India the number one recipient of overseas stock investment in emerging Asia, Deutsche Bank figures show. November was the third consecutive month of net FII inflows, as FIIs invested $1.3 billion then.
