REGULATIONS


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...

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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...

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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...

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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...

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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...

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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,...

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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...

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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...

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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...

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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...

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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...

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IANS 25 January 2024
Online food delivery platform Zomato on Thursday announced that its wholly-owned subsidiary Zomato Payments Private Limited (ZPPL) has been granted a certificate of authorisation from the Reserve Bank of India (RBI) to operate as an 'Online Payment Aggregator'.   The authorisation...

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Moneylife Digital Team 25 January 2024
Market regulator Securities and Exchange Board of India (SEBI) has suspended the certificate of registration (CoR) of Mumbai-based Equity99 (noticee) for three months for non-compliance with directions issued by SEBI. In its investigation, SEBI found that Equity99 committed serious...

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When a well-known journalist and the honcho of an iconic corporation spar on social media, can the temptation to pick on the corporate governance angle be easily resisted?   Clearly not, especially when the two institutions that each is a part of, live within a kilometre of each other...

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Moneylife Digital Team 24 January 2024
With the market regulator Securities and Exchange Board of India (SEBI)'s deadline ending this month, high-risk foreign portfolio investors (FPIs) will have to submit additional disclosures from 1st February. According to a report from CNBC-TV18, the quantum for disclosures for these FPIs may...

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IANS 24 January 2024
The aviation watchdog, directorate general of civil aviation (DGCA), has imposed a penalty of Rs1.10 crore on Air India after an airline employee alleged safety violations on flights operated on certain long-range terrain critical routes, an official said on Wednesday.   According to...

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Moneylife Digital Team 23 January 2024
Securities and Exchange Board of India (SEBI) may have zeroed in on the role of Zee Entertainment Enterprises Ltd (ZEEL)'s managing director and chief executive officer (MD&CEO) Punit Goenka in misuse of funds as key managerial personnel (KMP) in Essel group companies, and the investigation...

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Moneylife Digital Team 19 January 2024
While refusing to interfere in an order passed by the Securities and Exchange Board of India (SEBI), the Securities Appellate Tribunal (SAT) dismissed an appeal filed by Brightcom Group Ltd (BGL) against the SEBI order.   In an order, Meera Swarup (technical member) of SAT says,...

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Moneylife Digital Team 19 January 2024
While refusing to interfere in an order passed by the Securities and Exchange Board of India (SEBI), the Securities Appellate Tribunal (SAT) dismissed an appeal filed by Brightcom Group Ltd (BGL) against the SEBI order.   In an order, Meera Swarup (technical member) of SAT says,...

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Moneylife Digital Team 19 January 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs84 lakh on five cooperative banks, including NKGSB Cooperative Bank Ltd and New India Cooperative Bank Ltd from Mumbai, for non-compliance with the directions issued by the banking regulator.    The highest penalty of Rs50 lakh has been...

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