FINANCEOUTLOOKINDIA8 AUGUST, 2026REPORTSEBI INTRODUCES A SINGLE CERTIFICATION EXAM FOR MF & SIF DISTRIBUTIONINDIAN BANKS RAISE $20.7 BILLION UNDER RBI'S FCNR INCENTIVE SCHEMEINDIA'S GEM & JEWELLERY EXPORTS JUMP 26%: WHAT IT MEANS FOR FY27INDIA PLANS TO EASE EXPORT RULES FOR SHIPMENTS UP TO RS 10,000Markets regulator SEBI has introduced a single certification examination for persons selling and distributing mutual funds and Specialised Investment Funds (SIFs), a move aimed at simplifying eligibility requirements for distributors.Under the new framework, any person employed or engaged in the sale or distribution of Specialised Investment Fund products will need to hold a valid NISM Series V-D ­ Mutual Fund-Specialised Investment Fund Distributors Certification, SEBI said in a circular issued. The new certification will allow distributors to sell both mutual fund and SIF products, removing the need for them to separately obtain the NISM Series V-A ­ Mutual Fund Distributors Certification. Indian banks have mobilized $20.7 billion under the RBI's special FCNR incentive scheme, with foreign currency deposits emerging as the biggest source of inflows. The strong response could strengthen external liquidity and support India's balance of payments in the coming months. The Reserve Bank of India introduced the special incentive window on June 5, 2026, and operationalized it on June 8. The facility remains open for FCNR(B) deposits until September 30 and for OFCBs and ECBs until December 31, 2026.Along with $17.4 billion raised through FCNR(B) deposits, banks mobilized $2 billion through overseas foreign currency borrowings and $1.3 billion through external commercial borrowings. India's gem and jewelry exports rose 26.51% in June, driven by strong demand for gold jewelry and steady growth in diamond shipments. The strong performance also offers an encouraging outlook for FY27 as global demand shows signs of recovery.Total exports reached Rs 21,010.78 crore ($2.21 billion) during the month. Gross imports also increased 10.06 percent to Rs 16,330.63 crore ($1.72 billion).The latest figures suggest overseas demand is improving after a prolonged slowdown. Industry experts say better global economic stability has encouraged buyers to return to the market.India is planning to simplify export procedures for shipments worth up to Rs 10,000, a move that could make it easier for small businesses and first-time exporters to reach global markets. The proposal aims to reduce paperwork by removing a key registration requirement for low-value export consignments.The Directorate General of Foreign Trade (DGFT) has proposed exempting export consignments with a free-on-board (FOB) value of up to Rs 10,000 from obtaining a Registration-cum-Membership Certificate (RCMC).
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