ICSI launches UDIN to improve corporate governance

The Institute of Company Secretaries of India (ICSI) has rolled out an initiative in the form of a Unique Document Identification Number (UDIN) in an attempt to pursue heightened sense of self-governance and strengthen the practising side of company secretaries.

UDIN will provide ease of maintaining register of attestation and certification services. It will prevent counterfeiting of various attestations and certifications besides ensuring compliance with regard to ceilings on the number of certifications and attestations. 

The initiative will also enable stakeholders and regulators to verify genuinity of documents signed or certified by company secretaries in practice, according to a statement. 

RBI panel moots changes in timings for foreign exchange market

An internal committee of the Reserve Bank of India (RBI), which was set up to review timings of different financial markets, suggested that the foreign exchange market could function from 9 am to 9 pm At present, the currency market works from 9 am to 5 pm.

“Calibrated extension of market hours, and to begin with, revised market timings of 9 am — 9 pm, may be considered to gauge demand and potential benefits,” the draft report of the committee said.

The report noted that there are mixed views on the benefits of extension of market timing.