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of <h1>SEBI Exempts IFSC Stock Exchanges from 2014 Circular Clauses to Boost Liquidity Schemes; Investor Protection Emphasized.</h1> The Securities and Exchange Board of India (SEBI) issued a circular allowing stock exchanges at the International Financial Services Centre (IFSC) to introduce liquidity enhancement schemes without adhering to certain clauses of a previous circular from April 23, 2014. This exemption is due to the nascent stage of these exchanges and their lack of access to net profits or free reserves. Exchanges must create specific reserves for liquidity scheme incentives, which will not be included in net worth calculations. Proposals based on a normative study must be submitted for approval. The circular aims to protect investors and promote market development.
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