Brokers Seek 6-Month Extension on RBI Norms, Flag Market Impact in Fin Min Meet

• Brokers met with Finance Ministry officials to discuss RBI's full collateral norms and potential STT hike.
• They warned that new restrictions could harm market liquidity and the entire ecosystem, citing timing risk with April 1 implementation.
• Brokers argued that several circular provisions were not part of consultation and differed from earlier interpretations, urging a 6-month extension.
• They highlighted that banks' capital market exposure has historically seen near-zero NPAs, indicating low credit risk.
• Finance Ministry officials heard concerns and advised a detailed note; brokers are hopeful for an extension.