REGULATIONS


Moneylife Digital Team 19 June 2024
The competition commission of India (CCI) has approved the proposed combination involving the realignment of interests, legal ownership, and management of various entities within the 127-year-old Godrej group.   The proposed combination relates to the realignment of interests, legal...

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Moneylife Digital Team 19 June 2024
To enhance financial security, Reserve Bank of India (RBI) has successfully completed the testing phase of the fourth cohort of the regulatory sandbox (RS) focused on the prevention and mitigation of financial frauds. Six entities participated in this initiative that started from 5 January 2023...

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After the one-day slump caused by poll results, India’s stock markets have rebounded and, thankfully, remained steady—albeit on a very high plateau. This means that around Rs20,000 crore per month will continue to flow into mutual funds (MFs) which, in turn, needs to find its way into stocks of...

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Moneylife Digital Team 18 June 2024
Market regulator Securities and Exchange Board of India (SEBI) has penalised OP Jindal group company Hexa Tradex Ltd and its nine associated entities Rs35 lakh for multiple regulatory violations. The order details significant failures in due diligence and compliance with the delisting process...

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Moneylife Digital Team 17 June 2024
The Reserve Bank of India (RBI) has cancelled the certificate of registration (CoR) of Uttar Pradesh-based Purvanchal Cooperative Bank Ltd due to inadequate capital and poor earning prospects of the lender. RBI has asked the Bank to stop banking business from 15 June 2024.   RBI says...

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Moneylife Digital Team 17 June 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs96.40 lakh on Bangladesh State-owned Sonali Bank PLC for non-compliance issues.   Sonali Bank has been penalised for violating the Credit Information Companies Regulation Act (CIC (R) Act) and RBI directives related to membership in...

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Moneylife Digital Team 17 June 2024
Market regulator Securities and Exchange Board of India (SEBI) has issued an administrative warning letter to JM Financial Ltd as a merchant banker of certain past public issuances of non-convertible debentures (NCDs).   In a regulatory filing, JM Financial says, "The SEBI letter is pursuant...

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Moneylife Digital Team 17 June 2024
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the certificate of registration (CoR) of Grovalue Financial Services Pvt Ltd (noticee), a registered research analyst, due to multiple violations of SEBI regulations. This decision followed a comprehensive inquiry...

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Moneylife Digital Team 14 June 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs1.45 crore on Central Bank of India for sanctioning a working capital demand loan to a corporation against receivable from government subsidies and failing to credit money to customer accounts in the unauthorised electronic...

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Moneylife Digital Team 14 June 2024
The Telecom Regulatory Authority of India (TRAI) says reports about the regulator planning to charge subscriber with multiple SIMs or using more numbering resournces are completely false. "Such claims are unfounded and serve only to mislead the public."   In a statement, TRAI says on 6 June...

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Moneylife Digital Team 14 June 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs4.25 lakh on four cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs2 lakh has been imposed on Nandani Sahakari Bank Ltd from Maharashtra.   Other banks penalised by RBI are...

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Moneylife Digital Team 14 June 2024
The Reserve Bank of India (RBI) has restored functionality to its automated sweep-in and sweep-out (ASISO) system following a technical disruption.   The glitch, which occurred on RBI's ASISO facility within the e-Kuber platform, temporarily hindered Bank’s access on Wednesday. This platform...

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Moneylife Digital Team 14 June 2024
Securities and Exchange Board of India (SEBI) has debarred background check company SecUR Credentials and its managing director (MD) Rahul Belwalkar from the securities market, for imposing significant restrictions due to alleged financial irregularities and corporate governance lapses. This...

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Moneylife Digital Team 13 June 2024
Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs7 lakh on Majestic Auto Ltd for the company's failure to obtain approval from the audit committee and shareholders for related party transactions (RPTs) during FY18-19.   In an order last week, Amar Navlani, adjudicating...

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Moneylife Digital Team 13 June 2024
Securities and Exchange Board of India (SEBI) has levied a fine of Rs2 lakh following an adjudication order scrutinising the trading practices of specific entities associated with Ascom Leasing and Investments Ltd (noticee). This order investigates explicitly the misclassification of Saffron...

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Moneylife Digital Team 12 June 2024
The Securities and Exchange Board of India (SEBI) has imposed a fine of Rs1 crore each on Pradeep Pandya, former markets editor of CNBC Awaaz, and Alpesh Vasanji Furiya, a technical analyst, for engaging in fraudulent trading activities. The penalties follow a comprehensive investigation...

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Moneylife Digital Team 12 June 2024
Taking cognizance of corporate governance issues at PTC India Financial Services Ltd (PFS), market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs25 lakh on Pawan Singh, former managing director and chief executive officer (MD&CEO) and Rs10 lakh on Rajib...

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Moneylife Digital Team 12 June 2024
Johnson & Johnson (J&J) has agreed to pay US$700mn (million) to settle an investigation by 42 US states and Washington DC into its marketing of baby powder and other talc-based products blamed for allegedly causing cancer, says a news report.   According to a report from Reuters, the...

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Moneylife Digital Team 11 June 2024
Securities and Exchange Board of India (SEBI) has released a consultation paper inviting public feedback on proposed revisions to the eligibility criteria for stock derivatives. According to SEBI, this move is designed to bolster market integrity and investor protection in response to...

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Moneylife Digital Team 11 June 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs2.75 lakh on three cooperative banks and India Home Loan Ltd, a housing finance company (HFC), for non-compliance with the directions issued by the banking regulator.   The cooperative banks penalised by RBI are: Angul United Central...

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