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Mumbai : Market regulator SEBI has lifted ban on British bank Barclays for issuing offshore derivative instruments, a move which will allow the lender to facilitate investment by unregistered entities into Indian stock markets.
The Securities and Exchange Board of India, in December last year, had banned Barclays Bank Plc from issuing overseas derivative instruments (ODI) following its failure to provide "true and accurate picture of transactions" as required by the regulations.
"The deficiencies in the systems and processes of Barclays have now been remedied ... The ex-parte directions issued against Barclays Bank PLC vide the order dated December 9, 2009, shall stand revoked with immediate effect," SEBI said in a ruling.
ODIs are investment vehicles issued by Foreign Institutional Investors (FIIs) to unregistered overseas investors for parking their funds in Indian equities and derivatives.
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