REGULATIONS


Moneylife Digital Team 14 February 2023
Reserve Bank of India (RBI) has imposed a fine of Rs 1.50 lakh on Vaidyanath Urban Co-Operative bank located at Parli Vaijnath in Maharashtra. The penalty was imposed after an inspection by RBI found that the bank violated the operational instructions issued under the supervisory action...

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Moneylife Digital Team 13 February 2023
While agreeing with the Supreme Court's suggestion on appointing a committee to protect investors' interests, the Union government says the Securities and Exchange Board of India (SEBI) is competent to handle the fallout of the Hindenburg Report on Adani group. Since 24 January 2023, when...

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Moneylife Digital Team 13 February 2023
While imposing a penalty of Rs15 lakh, the Securities and Exchange Board of India (SEBI) has asked Ketan Parekh and his father Bhupendra to disgorge, with an interest of 12% per annum Rs22.88 lakh, the unlawful gains earned by them from front-running trades via Quest Investment Advisors Pvt...

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It has been a bad fortnight for the market regulator as its tardy investigations, poor supervision and legally weak or poorly justified orders of the past decade or more have come up for scrutiny in this short period.   “Why has SEBI been a silent operator?” thundered Mahua Moitra,...

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IANS 11 February 2023
The Supreme Court on Friday observed that there is a need for a robust regulatory framework to protect the interest of investors and if Centre agrees, a committee may be set up to suggest regulatory improvements.   The Supreme Court said this while hearing a plea seeking a direction...

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Moneylife Digital Team 11 February 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs6 lakh on Pooja Patidar and Vikas Gupta for false representation, forging documents and defrauding investors. Ms Patidar worked as a compliance officer, while Mr Gupta was a portfolio manager of Investment...

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Moneylife Digital Team 11 February 2023
Setting aside revised orders passed by the Securities and Exchange Board of India (SEBI) against erstwhile promoters and others in the infamous Rs9,000-crore Satyam Computer Services fraud, the Securities Appellate Tribunal (SAT) directed the whole-time member (WTM) of SEBI to relook the...

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Moneylife Digital Team 10 February 2023
After warning consumers not to perform forex transactions on unauthorised electronic trading platforms (ETPs) or remit or deposit money for unauthorised forex transactions, the Reserve Bank of India (RBI) released a list of 48 entities that are not authorised to carry out forex transactions....

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Moneylife Digital Team 10 February 2023
Market regulator Securities and Exchange Board of India (SEBI) has published a consultation paper proposing the introduction of a general information document (GID) and key information document (KID) for the private placements of non-convertible securities (NCS).    Taking note of the...

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IANS 10 February 2023
The Ministry of Electronics and Information Technology (MeitY) has lifted the ban on some digital lending apps like PayU's buy-now-pay-later (BNPL) service LazyPay, Kissht, KreditBee and others, after it blocked nearly 138 gambling apps and 94 loan apps over "Chinese linkage"...

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Moneylife Digital Team 09 February 2023
After finding that the lender and the ultimate borrower are entities belonging to the Infrastructure Leasing & Financial Services Ltd (IL&FS) group, the Mumbai bench of the national company law tribunal (NCLT) dismissed an application filed by financial creditor IL&FS Financial Services Ltd...

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Moneylife Digital Team 09 February 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs15 lakh on three people for manipulating the share price of Zylog Systems Ltd from 1 November 2011 to 28 March 2013. At present, shares of Zylog Systems are suspended.     In an order, Amit Kapoor,...

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IANS 08 February 2023
An individual client—Adani Group—will not bring down the Indian banking system as the country's banking sector is resilient and strong, Reserve Bank of India (RBI) governor Shaktikanta Das said.   Queried about the Indian bank's exposure to the Adani group and the comments of credit...

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IANS 08 February 2023
The Reserve Bank of India (RBI) will soon come out with draft guidelines on levying of penal charges by its regulated entities, acceptance of green deposits, governor Shaktikanta Das announced on Wednesday.   Announcing the 25 basis points (bps) hike in the repo rate to 6.5%, Das also...

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Moneylife Digital Team 08 February 2023
Market regulator Securities and Exchange Board of India (SEBI) has banned GVM Research and its partners, Nilesh Joshi, Yashwant Sharma, and Ramesh Joshi, from markets for five years. The entity and the partners were found providing market advisory illegally and without obtaining registration...

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Moneylife Digital Team 08 February 2023
Market regulator Securities and Exchange Board of India (SEBI) has published a consultation paper on institutional mechanisms for stockbrokers, including identification and surveillance of fraudulent practices like front running, price manipulation, insider trading, and spoofing. The paper...

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Moneylife Digital Team 07 February 2023
Market regulator Securities and Exchange Board of India (SEBI) has issued a guideline for enhanced obligations and responsibilities on qualified stock brokers (QSB). Market infrastructure institutions (MIIs) will carry out the enhanced monitoring of QSBs from 1 July 2023. In December last...

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IANS 07 February 2023
In the last one year, a total of 63 passengers have been placed in the "No Fly List" for unruly behaviour. These include two incidents of urinating that have come to the notice of the Directorate General of Civil Aviation (DGCA).   Minister of State for Civil Aviation, V.K. Singh in a...

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IANS 06 February 2023
Five months after the insurance Regulations Review Committee (RRC) was set up, the sub-group to look at the regulations for the intermediaries have not met even once.   The reason? A senior official of the Insurance Regulatory and Development Authority of India (IRDAI) has raised some...

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Moneylife Digital Team 06 February 2023
The Reserve Bank of India (RBI) has imposed a fine of Rs30 lakh on Bank of Baroda (BoB) for breaching stipulated transaction limits and failing to apply prescribed interest rates on term deposits. Separately, Northeast Small Finance Bank Ltd, Utkal Cooperative Bank Ltd and Krazybee Services...

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