REGULATIONS


Moneylife Digital Team 22 August 2023
The antitrust division of the US department of justice (DoJ) has deferred the prosecution agreements resolving criminal antitrust charges against Glenmark Pharmaceuticals Inc, the US arm of the Indian pharma company.   Glenmark Pharmaceuticals has agreed with the DoJ to resolve all of...

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Moneylife Digital Team 22 August 2023
Reserve Bank of India (RBI) has imposed monetary penalties on four cooperative banks citing the violation of different laws prescribed by the regulator. Of these, two banks are from Maharashtra, while others belong to Gujarat, Jammu and Kashmir (J&K). RBI has levied a fine of Rs4 lakh, the...

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IANS 21 August 2023
The Delhi High Court on Monday sought the Centre’s stand on a plea taking objection to the inclusion of chartered accountants (CAs), company secretaries (CSs) and cost accountants within 'reporting entities' under the Prevention of Money Laundering Act (PMLA).   A division bench of...

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IANS 19 August 2023
The Reserve Bank of India (RBI) says that banks cannot use penalties imposed on loan defaulters for raising funds.   The central bank has modified norms related to loan accounts to ensure this.   RBI said banks must treat penalty for non-compliance as ‘penal charges’ and it...

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Is a social media influencer’s opinion genuine or paid for? This question has become increasingly difficult to answer, resulting in widespread suspicion about genuine posts as well. On the one hand, there are people who blindly trust influencers and celebrities, only to be misled by fake or...

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Moneylife Digital Team 18 August 2023
The Competition Commission of India (CCI) has imposed a penalty of Rs40 lakh on Axis Bank Ltd for the Bank's failure to comply with certain provisions related to the acquisition of a stake in CSC E-governance Services India Ltd.    In a regulatory filing, Axis Bank says, "The CCI vide...

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Moneylife Digital Team 18 August 2023
Accepting a submission by Reserve Bank of India (RBI) that Google Pay operated by Google India Digital Services Pvt Ltd is a mere third-party app provider and does not require authorisation from RBI, the Delhi High Court (HC) dismissed a public interest litigation (PIL) filed by economist...

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Moneylife Digital Team 18 August 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs60 lakh on Manish Goel, a research analyst (RA) from Multibagger Securities Research and Advisory Pvt Ltd, for not keeping proper records of research recommendations provided by him, misleading and...

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Moneylife Digital Team 18 August 2023
Reserve Bank of India (RBI) has imposed monetary penalties on four cooperative banks citing the violation of different laws prescribed by the regulator. Of these, two banks are from Maharashtra while others belong to West Bengal and Kanpur in Uttar Pradesh. RBI has levied a fine of Rs3 lakh,...

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Moneylife Digital Team 18 August 2023
The Advertising Standards Council of India (ASCI) has revised its influencer advertising guidelines to place additional responsibility on the advertising content of health and finance influencers. The guidelines aim to help consumers identify promotional content and make informed decisions on...

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Moneylife Digital Team 18 August 2023
Reserve Bank of India (RBI) governor Shaktikanta Das on Thursday launched UDGAM, an unclaimed deposits - gateway to access information, a centralised web portal, which would make it easier for people to search for their unclaimed deposits across multiple banks in one place. A public interest...

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IANS 17 August 2023
The government on Thursday unveiled two significant measures to prevent fraudulent calls and stop issuance of bulk SIM cards. Telecom minister Ashwini Vaishnaw has said that reporters that now police verification is being made mandatory for SIM card-dealers and there will also be a biometric...

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Moneylife Digital Team 17 August 2023
The Bombay High Court (HC) cancelled a no objection certificate (NOC) of Parekh Constructions LLP for defaulting on the payment of transit rent to residents of the demolished building which the builder is redeveloping. The HC has also directed Maharashtra Housing and Area Development...

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Moneylife Digital Team 16 August 2023
While promising to complete its investigation into Zee Entertainment Enterprises (ZEEL), market regulator Securities and Exchange Board of India (SEBI) barred Subhash Chandra and his son Punit Goenka, founder and promoters of the ZEE group, from holding any directorship or key managerial...

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Moneylife Digital Team 16 August 2023
Reserve Bank of India (RBI) has imposed monetary penalties on four cooperative banks citing the violation of different laws prescribed by the regulator. Of these, two banks are from West Bengal, while others belong to Gujarat and Aska. RBI has levied a fine of Rs5 lakh, the highest among the...

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Moneylife Digital Team 16 August 2023
The Union government has appointed Kamlesh Varshney and Amarjeet Singh as whole-time members of the market regulator Securities and Exchange Board of India (SEBI) for the next three years.    Currently, Mr Varshney, a senior officer from the Indian Revenue Services (IRS) cadre, is...

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Moneylife Digital Team 16 August 2023
Market regulator Securities and Exchange Board of India (SEBI) has suspended the certificate of registration of Yashwi Commodities Pvt Ltd for three months for facilitating the sale of paired contracts on the now-defunct National Spot Exchange Ltd (NSEL).   In an order, Babitha...

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Moneylife Digital Team 14 August 2023
Market regulator Securities and Exchange Board of India (SEBI) has approached the Supreme Court seeking 15 more days for filing its investigation report on the Adani-Hindenburg issue, including alleged stock market manipulation in the scrips of Adani group companies.    In an...

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On 3rd August, the securities appellate tribunal (SAT) issued an interesting order which, finally, nails down what thousands of investors have suspected and complained about—that the market regulator deals with complaints to its grievance redress system like a post-office. It merely forwards...

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Moneylife Digital Team 11 August 2023
As many as 10 non-banking financial companies (NBFC) have surrendered their certificate of registration (CoR) to Reserve Bank of India (RBI). Eight NBFCs surrendered their CoR following a decision to exit from the NBFC business, while two ceased operations following corporate actions such as...

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