ESIC seems to be to put money into inventory market, awaits SEBI nod

Staff’ State Insurance coverage Company regional workplace. File
| Photograph Credit score: www.esic.gov.in

The Staff’ State Insurance coverage Company (ESIC) is seeking to make investments surplus funds within the inventory market via alternate traded funds (ETFs) and is awaiting markets regulator Securities and Alternate Board of India (SEBI)’s nod for exemption from the ₹25-crore per transaction restrict.

As of March 31, 2024, the social safety physique’s investments in authorities and different securities, bonds and debentures, fastened deposits (FDs) and Particular Deposit Account (SDA) totalled ₹1,48,547.16 crore, sources within the Ministry of Labour and Employment mentioned. Of this, ₹79,611 crore has been invested in authorities securities, ₹7,147 crore in different accredited securities, ₹39,407 crore in debentures and bonds, greater than ₹44 crore in FDs with scheduled business banks, and ₹22,336 crore in SDA with the finance ministry, the sources mentioned.

The ESIC wrote to the SEBI final yr looking for exemption from the ₹25-crore per transaction threshold provided that it doesn’t have the capability to shell out that huge quantity of funding at one go, defined ministry sources. 

(The creator, Dalip Singh, of this text is with The Hindu businessline)