REGULATIONS


A special CBI (central bureau of investigation) court here on Thursday refused to grant bail to former NSE (National Stock Exchange) head Chitra Ramkrishna and former employee Anand Subramanian, who were arrested by the probe agency in connection with the NSE co-location (Colo)...

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The Insurance Regulatory and Development Authority of India (IRDAI) on Thursday allowed general insurers to design and launch fire, and allied perils, insurance policies covering dwellings, micro and small enterprises.   With this, IRDAI had scrapped its earlier circular that mandated...

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The Federation of Hotel and Restaurant Associations of India (FHRAI) on Wednesday urged the Securities and Exchange Board of India (SEBI) to call off online hospitality major Oyo's initial public offering (IPO), citing the massive losses suffered by the hotel rooms aggregator in recent...

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Moneylife Digital Team 11 May 2022
NASDAQ-listed Coinbase’s chief executive officer (CEO) Brian Armstrong has revealed that its services in India had to be halted because “after launching, we ended up disabling unified payments interface (UPI) because of some informal pressure from the Reserve Bank of India (RBI), which is...

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Moneylife Digital Team 11 May 2022
Market regulator Securities and Exchange Board of India (SEBI) has derecognised Indian Commodity Exchange Ltd saying the bourse does not have sufficient number of experienced staff and requisite financial capacity. Consequently, “ICEX shall cease to be a recognised stock exchange,” SEBI said...

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A special CBI (central bureau of investigation) court here on Monday deferred the verdict on the bail applications of former NSE  (National Stock Exchange) head Chitra Ramkrishna and former employee Anand Subramanian, who were arrested by the probe agency in connection with the NSE...

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On 30th April, the chief justice of India (CJI), NV Ramana, mentioned in a speech that India has 40mn (million) cases pending in lower courts and that the government was the biggest litigant accounting for 50% of these cases. At another event on 2nd May, the media reported him saying that...

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Moneylife Digital Team 07 May 2022
Update: 6 May 2022 15.50 hrs to include a response from Axis MF   Axis Mutual Fund (MF) has removed its head trader Viresh Joshi as fund manager from five schemes. Similarly, Deepak Agarwal, the assistant fund manager for equity at Axis MF, is no longer part of schemes like Axis...

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The Orlando Police Pension Fund has sued Elon Musk and his $44 billion buyout of Twitter, claiming that the deal cannot close till 2025 owing to Tesla CEO's stake in the micro-blogging platform.   The proposed class-action lawsuit, filed by the Orlando Police Pension Fund in the...

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Moneylife Digital Team 04 May 2022
In a surprise move, the monetary policy committee (MPC) of the Reserve Bank of India (RBI) has unanimously decided to increase the repo rate by 40 basis points (bps) to 4.40% with immediate effect. Consequently, the standing deposit facility (SDF) rate stands adjusted to 4.15% and the...

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Moneylife Digital Team 03 May 2022
Nine entities in the scrip of Ruchi Soya Industries Ltd, that were found indulging in fraudulent trade practices about 10 years ago, have been slapped with a total penalty of Rs25 lakh by market regulator Securities and Exchange Board of India (SEBI). Last year, SEBI's whole-time member (WTM)...

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Moneylife Digital Team 03 May 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a Rs6 lakh penalty on Pace Stock Broking Services for flouting norms related to National Stock Exchange (NSE)'s co-location facility.   The order came after SEBI received multiple complaints against the broker,...

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Moneylife Digital Team 02 May 2022
A special central bureau of investigation (CBI) court in New Delhi has reserved its order on the bail plea filed by the National Stock Exchange (NSE)'s former managing director (MD) and chief executive officer (CEO) Chitra Ramkrishna and ex-group operating officer Anand Subramanian in the NSE...

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Sreeram VG (The Leaflet) 02 May 2022
The Insolvency and Bankruptcy Code, 2016, by design, makes the committee of creditors the central decision-making authority in the insolvency process. With the Adjudicating Authority becoming a mute spectator, workers have to fight for their claims with both hands tied behind their...

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Sucheta Dalal Sucheta Dalal 29 April 2022
Mandatory corporate governance rules have not stopped the management of listed companies, public-private partnerships or even first-line regulators from doing what they please. The independence of boards is a sham; directors are usually eager to please management and ignore whistle-blowers,...

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Debashis Basu Debashis Basu 29 April 2022
Last Thursday, the Central Bureau of Investigation (CBI) filed a charge sheet against Chitra Ramkrishna, former chief executive officer (CEO) of the National Stock Exchange (NSE) and Anand Subramanian, former group operating officer (GOO), in connection with the co-location (Colo) fraud case...

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Moneylife Digital Team 29 April 2022
Sunness Capital India Pvt Ltd (Sunness Capital) has become the 32nd defaulter broker since May 2019, to be expelled by the National Stock Exchange (NSE). According to NSE, the Bengaluru-based broker's trading rights have been withdrawn in equity, futures & options (F&O) and commodity segments...

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A video of scantily clad women dancing at an event of a government owned bank in a Goa hotel has drawn the ire of a major banking union.   C.H.Venkatachalam, General Secretary, All India Insurance Employees Association (AIBEA) told IANS on Friday, "A life insurance subsidiary of a...

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Moneylife Digital Team 29 April 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs29 crore on nine entities for misutilisation of investor clients' funds and securities and siphoning off funds. Those penalised by SEBI include Amrapali Aadya Trading and Investments Pvt Ltd (AATIPL),...

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The Indian insurance regulator's move to rationalise some of the regulatory compliance is nothing but a `big sound and fury, signifying nothing'.   Perhaps it may rationalise the workload on IRDAI's actuarial department but not that of the life, non-life and reinsurers, industry...

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