REGULATIONS


Moneylife Digital Team 22 June 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs30 lakh on Reliance Industries Limited (RIL) and two of its compliance officers, Savithri Parekh and K Sethuraman, for not promptly disclosing the stake sales in its subsidiary company, Jio Platforms to...

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Moneylife Digital Team 22 June 2022
Market regulator Securities and Exchange Board of India (SEBI) has allowed mutual funds to resume investing in foreign stocks within USD 7 billion, which is the aggregate mandated limit for the industry.   SEBI’s decision comes in the backdrop of a correction in global markets that...

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REGULATIONS
Sucheta Dalal , 14-August-2022
It is over two weeks since Zee Business channel’s investigative report...

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As India prepares for long-delayed 5G spectrum next month, top industry stakeholders have locked horns over the issue of public and private 5G networks and whether the government should allow spectrum directly to the enterprises for operating private captive 5G networks.   The debate...

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Moneylife Digital Team 21 June 2022
Market regulator Securities and Exchange Board of India (SEBI) has rejected a proposal by asset management companies (AMCs) to introduce mutual funds (MF) schemes with insurance features for scheme investment like systematic investment plan (SIP) insure.   In a letter to the...

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Moneylife Digital Team 21 June 2022
The Reserve Bank of India (RBI) has clarified that non-bank institutions cannot load credit lines on prepaid payment instruments (PPIs) like e-wallets and prepaid cards. This clarification from RBI, which is not available on its website till writing this report, would impact credit products...

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GS Bajpai  and   Neha Kapur (The Leaflet) 20 June 2022
The Supreme Court’s decision to consider banks as promoters for the purpose of the RERA Act will lead to a conundrum in the execution of the three legislations namely, the RERA, the SARFAESI Act, and the IBC. —– On 14 February 2022, the division bench of the Supreme Court consisting...

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Moneylife Digital Team 20 June 2022
Market regulator Securities and Exchange Board of India (SEBI) has asked all stock brokers to name and tag bank and demat accounts to reflect the purpose for which those bank and demat accounts are being maintained by, 30 June 2022.    In a circular, SEBI says, "Credit of securities...

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Moneylife Digital Team 20 June 2022
The Reserve Bank of India (RBI) has cancelled the licence of Davangere-Karnataka-based Millath Co-operative Bank Ltd due to inadequate capital and lack of earning prospects.    RBI says, “Millath Co-operative Bank does not have adequate capital and earning prospects. As such, it does...

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Sucheta Dalal Sucheta Dalal 18 June 2022
A few months ago, an 80-year-old diabetic person suffered the trauma of being inadvertently locked up in a bank when he had gone to access his locker. When the issue was escalated to the top brass at the Reserve Bank of India (RBI), it was felt that he ought to be given a token compensation....

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We are all familiar with the impossible trinity posited by Robert Mundell and Marcus Fleming, which states that in its economic policy, a country can choose any two of the following, but not all three, a fixed exchange rate; an independent monetary policy and free flow of capital....

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Moneylife Digital Team 17 June 2022
The securities and appellate tribunal (SAT) has granted interim relief to ICICI Bank’s former managing director and chief executive officer (MD&CEO) Chanda Kochhar, saying that Securities and Exchange Board of India (SEBI) “acted in haste in fixing a date for hearing without supplying the...

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Moneylife Digital Team 17 June 2022
Market regulator Securities and Exchange Board of India (SEBI) has sent notices to stock exchanges BSE and NSE asking them to pay over Rs5 crore in a case related to Karvy Stock Broking Ltd (KSBL) and warned them of attachment of assets and bank accounts if they fail to make the payment...

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Moneylife Digital Team 17 June 2022
The securities appellate tribunal (SAT) has quashed an order passed by market regulator Securities and Exchange Board of India (SEBI) derecognising the Indian Commodity Exchange (ICEX). The Tribunal also pulled up SEBI for not giving an opportunity to the Exchange to revive itself. This is...

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Moneylife Digital Team 17 June 2022
Market regulator Securities and Exchange Board of India (SEBI) has ordered attachment of bank accounts as well as share and mutual fund accounts of Aakruti Nirmiti Ltd (ANL) and its directors to recover investors' dues of over Rs95 crore.   The recovery proceedings have  been...

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Moneylife Digital Team 17 June 2022
The Reserve Bank of India (RBI) has lifted the restrictions imposed on Mastercard Asia Pacific Pte Ltd on on-boarding of new domestic customers with immediate effect.   “In view of the satisfactory compliance demonstrated by Mastercard with the RBI circular dated 6 April 2018 on...

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Moneylife Digital Team 16 June 2022
Holding seven entities, including Yash Birla, for providing security towards the loan taken by Vintage for subscribing to global depository receipts (GDR) of Zenith Steel Pipes & Industries Ltd (erstwhile Zenith Birla (India) Ltd) -ZBIL, market regulator Securities and Exchange Board of India...

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Moneylife Digital Team 16 June 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed penalties totalling Rs23 lakh on three individuals in a case related to misrepresentation in the financial details of Indian Infotech and Software Ltd (IISL).   In its latest order, the market regulator has...

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After reports surfaced that ed-tech giant BYJU's, last valued at US$22bn (billion), is yet to file its financial statements for FY20-21 and FY21-22, the company said on Wednesday that it has completed the consolidation of businesses and will be filing its financial results this...

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Moneylife Digital Team 15 June 2022
Market regulator Securities and Exchange Board of India (SEBI) has issued a circular saying investors, who are subscribing to mutual fund (MF) units from 1st August, will have the choice of providing nomination or opting out nomination. This will partly pave the way for standardisation of the...

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The Securities Appellate Tribunal (SAT) has directed the Securities and Exchange Board of India (SEBI) to conduct an independent inquiry against five brokers and persons associated with the brokers, and probe their role in the Rs5,600-crore NSEL (National Spot Exchange Limited) payment...

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