REGULATIONS


Moneylife Digital Team 22 November 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs8.35 lakh on five cooperative banks, including four from Gujarat and one from Odisha, for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs3 lakh has been imposed on Odisha-based Sundargarh...

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Moneylife Digital Team 22 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed Rs13 lakh penalty on four entities associated with Bodhtree Consulting Ltd (BCL) for violations of securities laws. These penalties were issued for off-market share transactions and failure to comply with regulatory...

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Moneylife Digital Team 20 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has proposed stricter rules for the initial public offering (IPO) of small and medium enterprises (SMEs) by setting a minimum issue size for companies getting listed, doubling the minimum application size and introducing a 'draw of...

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Moneylife Digital Team 20 November 2024
Reserve Bank of India (RBI) has issued a cautionary alert regarding fake videos circulating on social media. These videos falsely depict top officials, including the RBI governor, offering financial advice or endorsing investment schemes. Created using advanced deepfake technology, these...

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Moneylife Digital Team 19 November 2024
India's Securities and Exchange Board of India (SEBI) has ordered four unregistered online platforms (UOPs) to halt their operations involving the public subscription of unlisted securities on their platforms. The UOPs are AI Growth Pvt Ltd (owner of altGraaf), Texterity Pvt Ltd (operator of...

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Moneylife Digital Team 19 November 2024
The Competition Commission of India (CCI) has imposed a penalty of Rs213.14 crore on Meta for abusing its dominant position while implementing a privacy policy update in 2021 on WhatsApp and collecting and sharing user data with other group companies. CCI also directed WhatsApp not to share...

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Moneylife Digital Team 19 November 2024
The directorate of enforcement (ED) has uncovered evidence suggesting that Amazon and Flipkart exert significant control over their preferred sellers, says a report from Economic Times (ET).   Quoting sources, the newspaper says ED investigations revealed close ties between these sellers and...

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Moneylife Digital Team 19 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a cumulative penalty of Rs59 lakh on Jagjanani Textiles Ltd (JTL)(noticee 1) and the company promoters for failing to comply with disclosure requirements under the SEBI (Listing Obligations and Disclosure Requirements)...

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Moneylife Digital Team 19 November 2024
Reserve Bank of India (RBI) has imposed a penalty of over Rs8.50 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs4.10 lakh has been imposed on Bihar-based National Central Cooperative Bank Ltd.   The other...

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Moneylife Digital Team 18 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has asked Reliance Big Entertainment Pvt Ltd (now known as Rbep Entertainment Pvt Ltd) to pay Rs26 crore in penalties for failing to clear fines imposed for illegally diverting funds from Reliance Home Finance Ltd (RHFL).   In a...

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Debayan Roy (Bar  and   Bench) 18 November 2024
The Supreme Court on Monday sought a response from the Union government regarding the non-appointment of chairpersons in 11 Debt Recovery Tribunals (DRTs) across the country.   A Bench of Chief Justice of India (CJI) Sanjiv Khanna and Justice PV Sanjay Kumar issued notice on a plea...

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Moneylife Digital Team 15 November 2024
One fine day, Bengaluru-based M Ramachandran (name changed), a senior citizen who retired as an official from Reserve Bank of India (RBI), found his account in State Bank of India (SBI) frozen for want of renewal of his know-your-customer (re-KYC). After visiting SBI three times, he was finally...

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Moneylife Digital Team 15 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed penalties of Rs20 lakh on four entities found guilty of engaging in non-genuine trading activities within the illiquid stock options segment of the BSE. Each implicated entity has been fined Rs5 lakh for participating in...

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Moneylife Digital Team 15 November 2024
Market Regulator Securities and Exchange Board of India (SEBI) have imposed a penalty of Rs7 lakh on Ankur Jain, proprietor of Winway Research, after receiving complaints on the SEBI Complaints Redress System (SCORES).    In an order, Asha Shetty, adjudicating officer (AO) of SEBI, says, "I...

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Moneylife Digital Team 15 November 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs11.64 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs6.34 lakh has been imposed on Jaynagar Mozilpur People’s Cooperative Bank Ltd from West Bengal.   Other...

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Moneylife Digital Team 14 November 2024
Even as investor clients of defaulter brokers are struggling to get their money back, one more broker has defaulted. BSE declared its trading member (broker) Maxgrowth Capital Pvt Ltd has been declared a defaulter for violating several rules and regulations.    "Investors having any...

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Moneylife Digital Team 14 November 2024
The central consumer protection authority (CCPA) has issued guidelines that all coaching institutes must disclose relevant information regarding their students and courses to prevent parents and candidates from being misled. Nidhi Khare, chief commissioner of CCPA and secretary in the...

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Moneylife Digital Team 14 November 2024
Markets regulator Securities and Exchange Board of India (SEBI ) has exempted infrastructure investment trusts (InvITs) and real estate investment trusts (REITs) from lock-in and allotment restrictions while issuing units to an employee benefit trust under unit-based employee benefit (UBEB)...

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Moneylife Digital Team 13 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has asked two entities to pay Rs52 crore in penalties for failing to clear fines imposed for illegally diverting funds from Reliance Home Finance Ltd (RHFL).   In two separate notices, SEBI asked Mohanbir Hi-Tech Pvt Ltd and

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Sahyaja MS (Bar  and   Bench) 13 November 2024
The Bombay High Court on Monday disposed of a 26-year-old petition filed in public interest by the Securities and Exchange Board of India (SEBI), which had sought urgent regulatory reforms to tackle certain fraudulent financial schemes, including agro bonds and plantation bonds (SEBI v. Libra...

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