REGULATIONS


Sucheta Dalal Sucheta Dalal 06 January 2012
How SEBI sleeps over obvious connections A trial in the UK over the nexus between a team of Union Bank of Switzerland (UBS) rogue traders headed by one Sachin Karpe made headlines in India in December 2011. The story is old. Sachin Karpe and his team of five were sacked from the London office...

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Sucheta Dalal Sucheta Dalal 26 December 2011
Sebi faced its worst credibility crisis last year. Will 2012 be different? It is that time of the year when we take stock of the past 12 months and make plans for the New Year. From the capital market perspective, 2011 is a year that is probably best forgotten, due to domestic and global...

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Moneylife Digital Team 23 December 2011
SEBs witnessed losses due to lack of periodic tariff revision and high T&D losses which are in excess of 30%. The rising losses and debt level in SEBs are biggest risk  to banks credit exposure, the central bank said With incremental credit to the power and telecom sector outpacing the...

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Dr SD Israni 21 December 2011
The proposed Bill will make builders accountable. No wonder, they are opposing it In a vast country like India, where a large chunk of the population, even in metropolitan cities, lives in slums, there is a huge pent-up demand for housing. This has resulted in unabated construction in cities...

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Moneylife Digital Team 19 December 2011
According to the RBI, 4,102 borrowers, defaulting on Rs1 crore and above, owed Rs47,594 crore to banks and financial institutions as on 31 March 2011. Similarly, the number of defaulters having an outstanding amount of Rs10 crore and above (non-suit-filed accounts) of financial institutions was...

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Moneylife Digital Team 16 December 2011
As correctly predicted by Moneylife, the central bank had kept repo, reverse repo, CRR and SLR rates unchanged and said that from now onward its actions would respond to the risks to growth The Reserve Bank of India (RBI) in its mid-quarterly monetary policy review on Friday, kept the repo and...

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Moneylife Digital Team 15 December 2011
While WPI inflation moderated in November, core inflation as measured by non-food manufactured WPI inflation is still above the RBI's comfort level. This may make the central bank to take a pause after increasing repo, reverse repo and CRR rates 13 times since March 2010 The Reserve Bank of...

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Gurpur Gurpur 14 December 2011
There is a need to regulate Indian credit rating agencies not only to make them accountable for their actions, but also to pre-empt any possibility of a ‘cash-for-rating’ scam, which can be prevented only if a strong regulation is put in place If there is one business in this world that is...

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Sucheta Dalal Sucheta Dalal 13 December 2011
Why can’t investigative agencies find him? On 8th December, as this column goes to print, the Income-Tax Department (ITD) and the Enforcement Directorate (ED) were both hunting for controversial stockbroker Nirmal Kotecha. Is the noose finally tightening around Nirmal Kotecha whose name...

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Sucheta Dalal Sucheta Dalal 13 December 2011
Will the regulator at least make an attempt to know? Stock exchanges have taken another step in what they imagine is ‘clarifying’ sudden price movements to the larger body of investors. Moneylife has frequently pointed out that insider trading and concerted price manipulation first becomes...

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Moneylife Digital Team 12 December 2011
While SEBI has already set up a National Institute of Securities Management, doesn’t it stand to reason that all certification must either be conducted or at least supervised by SEBI? And that the fees should be reasonable and cost-based? Do the many certification programmes for market...

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Sucheta Dalal Sucheta Dalal 12 December 2011
Sebi is thinking of acting at last but how long will it be before we get  effective action? On 25th November, a caller from Hyderabad—let’s call her Indira—asked if I take up investor grievances. Since I do help cases of ‘genuine’ distress, I asked for details. Indira said that she and a...

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Sucheta Dalal Sucheta Dalal 29 November 2011
Is SEBI’s consent order system illegal? While a group of eminent citizens embarrassed themselves by moving the apex court to quash UK Sinha’s appointment as chairman of the Securities and Exchange Board of India, an ordinary investor seems to have scored a major victory by filing a...

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Sucheta Dalal Sucheta Dalal  and   Alekh Angre 28 November 2011
A fortnight ago, the ED summoned Kotecha, a self-confessed admirer of Harshad Mehta, for enquiry under the Prevention of Money Laundering Act Controversial stockbroker Nirmal Kotecha is now under the scanner of the Enforcement Directorate in connection with an investigation into money...

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Sucheta Dalal Sucheta Dalal 28 November 2011
The PIL on top SEBI appointments raises too many questions On 21st November, the Supreme Court dismissed as withdrawn (for the second time) one of the most bizarre public interest litigations (PILs) one has come across. It was regarding the selection process for the post of the chairman...

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William Gamble William Gamble 28 November 2011
 The concept of ‘soft landing’ assumes that policy makers understand the economy and markets, that their models and theories can predict the future and that they are supplied with timely, complete and accurate information. Even if policy makers did have the right tools, their efforts would be a...

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R Balakrishnan R Balakrishnan 21 November 2011
RBI’s action of pushing up interest rates on savings accounts is fraught with peril The Reserve Bank of India (RBI) has made another dangerous move by freeing up the interest rates on savings accounts deposits. In an earlier argument against this, I had said that RBI should have, in...

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Gurpur Gurpur 21 November 2011
What we are witnessing today is a classic case of shadow boxing by two international rating agencies which is causing an upheaval in the Indian stock markets. Is our government to remain a helpless spectator to the butchery of investors in a civilized world? On 9 November 2011, Moody’s...

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Moneylife Digital Team 17 November 2011
The apex bank will discuss the suggestions on pre-penalty on foreclosure of home loan, Internet and mobile banking with the IBA; Out of the 230 recommendation of the Damodaran Committee around 88 have already been accepted by the RBI The Reserve Bank of India (RBI) has accepted 88 out of the 230...

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R Balakrishnan R Balakrishnan 17 November 2011
The current regulations may sound the death knell for the mutual fund industry The Securities and Exchange Board of India (SEBI) now proposes to regulate financial advisors through a self-regulatory organisation (SRO). Reading the proposed guidelines makes me wonder whether the idea has been...

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