Registrars Association of India, or RAIN as it is more popularly known, was founded
in 1991. The basic aim was that RAIN should be the representative body of Securities'
Registrars Share Transfer Agents in India. With the full activation of the Securities
Exchange Board of India (SEBI), especially with reference to registration of securities'
market intermediaries, it was time for the registry industry to redefine service
standards, and follow good business ethics. RAIN became the forum, through which
common issues facing the industry were addressed.
The era of paperless trading started in India with the setting up of the Depository
in late 1996, and the entire share registry and IPO processes underwent a paradigm
change. RAIN, with the active participation of its members, contributed immensely
to the smooth and successful switchover to paperless trading and electronic shareholding.
Today, Registrars in India, play a vital role in the areas of IPOs, corporate actions,
investor servicing and compliance facilitation. It would be proper to say that the
bulk of the transaction processing involved in the above areas is in the domain
of the registrars. The process is highly IT-driven, and involves processing a large
volume of transactions with near-zero error levels. All this has enabled RAIN’s
members to offer services in the securities transaction processing area to cross-border
business associates.
RAIN provides the one-point interface for its members with the regulator - Securities
and Exchange Board of India (SEBI), the Depositories ( National Securities Depository
Ltd. (NSDL) & Central Depositories Services (India) Ltd. (CDSL)), and the two
leading stock exchanges of India (NSE & BSE).
RAIN looks forward to expanding the horizons of the registry business. The tasks
ahead for RAIN are in the areas of :
- Issuing Standard
Operating Procedures in the Indian context
- Training &
certification for industry personnel
- Identifying services
for the international community
- Redefining infrastructure
especially the IT infrastructure
Keep visiting this site for regular updates and insights into registry-related issues
in India.
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