SEBI warns FIIs on lending/borrowing activities

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Mumbai, Oct 20 (UNI) Expressing its disapproval over the Foreign Institutional Investors (FIIs) overseas borrowing/lending operations and the consequent selling pressure in the Indian cash market, Market regulator Securities and Exchange Board of India today warned stronger measures against them.

SEBI, in a release here, said it was reviewing the difficulties in the use of the lending/borrowing facility and would be taking steps to make this mechanism more effective.

It had been reviewing the data submitted by Foreign Institutional investors (FIIs) with regard to their stock lending activities abroad, the release said.

''While the stock lending mechanism has been made operational in the Indian market, SEBI finds that this facility has not been used by the institutions,'' the regulator said.

The release said SEBI had communicated its disapproval to the FIIs.

UNI VK RN VKG1830

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