REGULATIONS


Moneylife Digital Team 30 July 2021
Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs10 lakh on Karvy Financial Services Ltd for delay in making public announcement to acquire shares of Regaliaa Realty Ltd.    Karvy Financial made public announcement for open offer with a delay of...

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Market regulator Securities and Exchange Board of India (SEBI) has directed mutual fund asset management companies (AMCs) and mutual fund (MF) registrars and transfer agents (RTAs) to develop and implement an integrated MF transaction platform for investors. As per the SEBI circular, the...

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Sucheta Dalal Sucheta Dalal 29 July 2021
When we Indians are so proud of our information technology (IT) prowess and the many global tech giants headed by Indians, why isn’t cutting-edge technology being employed to refund money that rightfully belongs to savers and investors? The amount of money lying with the government, in the...

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Moneylife Digital Team 29 July 2021
Demat and trading account holders have been advised by depositories to complete their know-your-customer (KYC) details by 31 July 2021. Failure to do so would result in deactivation of their accounts, warns Central Depository Services Ltd (CDSL) and National Securities Depository Ltd...

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The Reserve Bank of India (RBI) has decided to allow payment system providers, prepaid card issuers, card networks and white label ATM operators access to its Centralised Payment Systems (CPS), such as real time gross settlement (RTGS) and National Electronic Fund Transfer (NEFT)...

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Bad news continues unabated for embattled Raj Kundra and his actress wife Shilpa Shetty. Market regulator SEBI imposed a penalty of Rs 3 lakh on the couple and their company Viaan Industries for contravening insider trading rules.   Kundra, Shetty and Viaan have been fined for a...

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Moneylife Digital Team 28 July 2021
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs5 crore on Axis Bank Ltd for contravention of and non-compliance with certain provisions of several directions issued by the central bank.   In a release, RBI says, "This action is based on the deficiencies in...

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Moneylife Digital Team 28 July 2021
With the Union cabinet clearing the Deposit Insurance & Credit Guarantee Corporation (DICGC) Bill 2021, depositors can expect to receive their money back within 90 days from Reserve Bank of India (RBI) declaring moratorium on their bank.    In a media briefing, finance minister...

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Moneylife Digital Team 28 July 2021
Expressing serious concern over the mandatory hallmarking of jewellery, the National Task Force says, the Bureau of Indian Standards (BIS) cannot change the tradition and fabric of the jewellery industry by putting the livelihood of lakhs of jewellers at stake and thus affect crores of...

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Moneylife Digital Team 26 July 2021
The Reserve Bank of India (RBI) has not taken any decision on the recommendations of its internal working group (IWG) to allow large corporate or industrial houses to become promoters of banks, the Lok Sabha was informed on Monday. Further, since 1993, the Indian government has granted...

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Moneylife Digital Team 26 July 2021
Market regulator Securities and Exchange Board of India (SEBI) on Friday announced that investors, who are opening new trading and demat account from 1st October, will have the choice of providing nomination or opting out nomination. SEBI has also issued a format for nomination form and...

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The recent cases of intervention by the stock market regulator and stock exchanges in preferential allotment of listed companies such as PNB Housing, LIC Housing Finance and Barbeque Nation have brought to fore an important but fundamental point. It may be recalled that the articles of...

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In major changes to e-commerce rules, the Ministry of Consumer Affairs has specified that an e-commerce marketplace entity shall not sell any goods owned or controlled by it on such e-commerce marketplace platform. All the sellers on the platform shall only be third party sellers, and no...

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The Reserve Bank of India (RBI) had allowed IDFC to exit the IDFC First Bank.   In a regulatory filing made to the BSE, IDFC said that RBI on July 20 clarified that "after the expiry of lock-in period of 5 years, IDFC Limited can exit as the promoter of 'IDFC FIRST Bank...

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In the past couple of weeks, I have written about how the Securities and Exchange Board of India (SEBI) wants to permit new stock exchanges and depositories with disruptive technology and vastly liberalised entry norms. This hurried proposal, if implemented, would be one of the biggest market...

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Moneylife Digital Team 21 July 2021
The National Company Law Appellate Tribunal (NCLAT) has stayed Vedanta group's winning bid for debt-laden Videocon Industries Ltd after an appeal by dissenting creditors—Bank of Maharashtra,  and IFCI, which were unhappy with the paltry value realised through the resolution.   A...

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Moneylife Digital Team 21 July 2021
Financial creditors, including banks, realised Rs2.45 lakh crore from approved resolution plans for 394 corporate insolvency resolution cases under the Insolvency and Bankruptcy Code (IBC) as on 30th June, minister of state for finance Pankaj Chaudhary informed the Lok Sabha on...

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Moneylife Digital Team 21 July 2021
The Insolvency and Bankruptcy Board of India (IBBI) has issued amended notification for the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations 2016, which will be effective from 14 July 2021.    In a release, the ministry of corporate affairs (MCA) says, the...

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Moneylife Digital Team 21 July 2021
LIC Housing Finance Ltd has approached the Securities Appellate Tribunal (SAT) over the company’s preferential allotment of shares to its parent Life Insurance Corp of India (LIC).   Securities and Exchange Board of India (SEBI) as well as BSE and National Stock Exchange (NSE) have...

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Moneylife Digital Team 21 July 2021
The Reserve Bank of India (RBI) has cancelled certificate of registration of four non-banking finance companies, one each from Haryana, Kerala, Telangana, and New Delhi. Separately, the central bank says, seven NBFCs have surrendered their certificate of registration, including Macquarie...

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