REGULATIONS


Moneylife Digital Team/ IANS 08 February 2024
Reserve Bank of India (RBI) on Thursday announced that it is mandatory for regulated entities such as non-banking finance companies (NBFCs) to provide key fact statements (KFS) in a simple format to borrowers for all retail and MSME loans.   This would provide critical information...

Read More



IANS 08 February 2024
A 60-year-old Singaporean-Indian was sentenced to four weeks' jail on Wednesday for failing to exercise diligence in his duties as the director of a company.   Thilagaratnam Rajaratnam of Strategic Corporate Investments, who was convicted in October last year, was also disqualified...

Read More



Moneylife Digital Team 07 February 2024
Criticising market regulator Securities and Exchange Board of India (SEBI) for its sluggish approach in handling a case, the Supreme Court rapped SEBI for taking 10 years to conclude an investigation into a case involving alleged violation of listing norms and unfair trade practice. Last year...

Read More



IANS 07 February 2024
The Reserve Bank of India (RBI) on Tuesday imposed a penalty of Rs 8.80 lakh on Power Finance Corporation Ltd for breach of norms related to 'Liquidity Risk Management Framework for Non-Banking Financial Companies and Core Investment Companies'.   The statutory inspection of the...

Read More



Moneylife Digital Team 07 February 2024
Market regulator Securities and Exchange Board of India (SEBI) has asked Anirudh Sethi, director and designated person of Alexander Stamps and Coin Ltd (erstwhile Rudraksh Cap Tech Ltd) (ASCL), to disgorge Rs1.18 crore earned by him as profit from contra trades. SEBI asked him to remit the...

Read More



Moneylife Digital Team 07 February 2024
The Reserve Bank of India (RBI) has cancelled the registration certificate of Maharashtra-based Jai Prakash Narayan Nagari Sahakari Bank Ltd, due to the lender's inadequate capital and poor earnings prospects. RBI has asked the Bank to stop banking business from 6 February 2024.   RBI says...

Read More



IANS 06 February 2024
The Oversight Board on Monday urged Meta to begin labeling manipulated content, such as videos altered by artificial intelligence (AI) or other means, when such content may cause harm.   This comes after the Board, the external advisory group that Meta created, reviewed a misleading...

Read More



IANS 06 February 2024
In a move that would facilitate ease of doing business through the concept of 'One Nation, One Commodity, One Regulator', the Food Safety and Standards Authority of India (FSSAI) has approved various amendments to streamline food safety and standards regulations.   Various amendments...

Read More



Moneylife Digital Team 02 February 2024
Coming down heavily on Paytm Payment Bank over persistent non-compliance and continued material supervisory concerns, Reserve Bank of India (RBI) has asked it to stop deposits, credit transactions and top-ups after 29 February 2024, among other restrictions. RBI also asked Paytm Payment Bank...

Read More



Moneylife Digital Team 02 February 2024
The Reserve Bank of India (RBI) has imposed an Rs5 lakh penalty on Bajaj Housing Finance Ltd for non-compliance with certain provisions of the non-banking financial company (NBFC) - housing finance company (HFC) directions issued by the RBI.    In a release, the banking regulator says...

Read More



Moneylife Digital Team 02 February 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs4.50 lakh on three cooperative banks from Maharashtra and one from Madhya Pradesh for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs2 lakh has been imposed on Shirpur Peoples Cooperative Bank...

Read More



IANS 01 February 2024
E-commerce platform eBay has agreed to pay $59 million to settle a lawsuit alleging that it assisted in the sale of pill press machines that can be used to manufacture illegal drugs, the US Department of Justice (DOJ) has announced.   According to the DOJ, pill presses and...

Read More



Moneylife Digital Team 01 February 2024
Market regulator Securities and Exchange Board of India (SEBI) has barred Saurabh Verma (noticee) for two years for providing illegal investment advisory services. While slapping a fine of Rs2 lakh, SEBI also asked Mr Varma to refund Rs1.67 crore collected as fees from clients or...

Read More



IANS 31 January 2024
As AI-generated explicit images of Taylor Swift create massive debate among the policy makers, US lawmakers have proposed a bill that would let victims sue over digitally faked sexual images.   The ‘Disrupt Explicit Forged Images and Non-Consensual Edits’ (DEFIANCE) Act would add a...

Read More



Moneylife Digital Team 31 January 2024
While imposing a ban for two years, market regulator Securities and Exchange Board of India (SEBI) asked Nishaan Singh, proprietor of Sanbun Investments (noticee), to refund Rs16.19 crore collected from clients of his unregistered portfolio management services (PMS).    In an order,...

Read More



Moneylife Digital Team 30 January 2024
Market regulator Securities and Exchange Board of India (SEBI) is reportedly planning to conduct an examination for those who want to become strategy providers for algo trading. The market regulator is also not in favour of allowing brokers to provide an open application programming interface...

Read More



IANS 30 January 2024
The Nevada Department of Taxation in the US has been slapped a fine of US$225 for alleged violation of short payment of modified business tax for two quarters.   However, the company maintained that it is in the process of determining further steps after checking the veracity of the...

Read More



Moneylife Digital Team 30 January 2024
Updated at 3.15pm on 31 January 2024 to add comment from Growpital   Market regulator Securities and Exchange Board of India (SEBI) has asked Farm Tech Silo LLP (also known as Growpital) and its associate entities ZF Project 1 LLP, ZF Project 2 LLP,  ZF Project 3 LLP, Yotta  Agro...

Read More



Moneylife Digital Team 30 January 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs7.25 lakh on five cooperative banks, for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs5 lakh has been imposed on Dr Panjabrao Deshmukh Urban Cooperative Bank Ltd from Maharashtra.   Other...

Read More



IANS 29 January 2024
Auditing firm Deloitte has once again been caught in the eye of the storm of regulators.   Deloitte's international audit arm certified that Nigerian firm Tingo - accused of fraud by Hindenburg - had more than $470 million in the bank.   However, reports indicate that the...

Read More

Free Helpline
Legal Credit
Feedback