Indian regulator to speak to investors on new rules


MUMBAI — M. Damodaran, India’s stocks regulator, will hold a conference call with overseas investors Monday to discuss proposed curbs on investing in shares, after guidelines last week sparked the first weekly drop in nine in indexes. Damodaran, chairman of the Securities & Exchange Board of India, will discuss at 4:30 p.m. India time the registration process for overseas investors and also plans for limiting offshore derivatives, according to an e-mail sent to investors. Damodaran declined to comment Monday.

Proposals by the regulator to curb offshore derivatives sparked a US$100 billion sell-off in Indian equities last week and forced stock markets to halt trading for the first time in 17 months. The regulator will meet on Oct. 25 to set rules to curb record inflows that have driven the rupee to a 9 1/2 year high.