REGULATIONS


IANS 05 October 2023
The ministry of corporate affairs has issued a notification to scrap a key provision of the Insolvency and Bankruptcy Code (IBC) in the case of aircraft, and aircraft engines which will make it easier for lessors to recover their planes in case an airline goes bankrupt.   “The...

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IANS 05 October 2023
The RBI on Wednesday formed an external working group to seek independent inputs on how banks could make provisions on bad loans using an expected credit loss (ECL) method which represents a major shift from the current incurred loss-based provisioning regime.   The RBI released a...

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Moneylife Digital Team 05 October 2023
Market regulator Securities and Exchange Board of India (SEBI) has rejected the application filed by MCI Commodities seeking registration while debarring the firm for three months from filing a fresh application. MCI Commodities has been penalised for facilitating the sale of paired contracts...

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Moneylife Digital Team 04 October 2023
Market regulator Securities and Exchange Board of India (SEBI) has launched a centralised mechanism for reporting the demise of an investor through KYC (know-your-customer) registration agencies (KRAs).   Spelling out the operational norms, for the obligations of regulated entities,...

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Moneylife Digital Team/ IANS 04 October 2023
The Reserve Bank of India (RBI) has imposed monetary penalties of Rs17 lakh on four cooperative banks in Gujarat for breach of rules after carrying out statutory inspections of their records. According to a statement, a monetary penalty of Rs6.50 lakh has been imposed on Dhanera...

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IANS 03 October 2023
After objecting to an advertisement by e-commerce giant Flipkart, featuring veteran actor Amitabh Bachchan last week, the Confederation of All India Traders on Tuesday (CAIT) filed a complaint with central consumer protection authority (CCPA) of the consumer affairs ministry.   CAIT...

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IANS 03 October 2023
Elon Musk and his social media platform X have been slapped with fresh lawsuits, as a 22-year-old college graduate sued the tech billionaire “due to the astonishingly reckless conduct of the wealthiest man on the planet.”   The lawsuit alleged that Musk defamed Benjamin Brody by...

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IANS 02 October 2023
Markets regulator Securities and Exchange Board of India (SEBI) has extended the timeline for verification of market rumours by listed entities.   The proviso to Regulation 30 (11) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations)...

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Moneylife Digital Team 02 October 2023
The Reserve Bank of India (RBI) has cancelled the certificate of registration of Lucknow Urban Co-operative Bank Ltd due to inadequate capital and the Bank’s failure to comply with banking regulations. Lucknow Urban Co-operative Bank ceased to carry on banking business on 29 September...

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In August 2022, the Supreme Court (SC) first issued notices on a public interest litigation (PIL) that noted senior counsel Prashant Bhushan had helped me file on the need for a centralised database to pay back unclaimed funds lying dormant in pools with various financial regulators and...

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Moneylife Digital Team 29 September 2023
Coming down heavily on a chartered accountant (CA) for negligent review, failure to apply professional skills and lack of sufficient experience while working as an engagement quality control (EQC) partner for the audit of a listed company, the National Financial Reporting Authority (NFRA),...

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Moneylife Digital Team 28 September 2023
The Insolvency and Bankruptcy Board of India (IBBI/Board) has suspended the registration of insolvency professional (IP) Partha Sarathy Sarkar for two years after finding that he had conducted the entire corporate insolvency resolution process (CIRP) of Innovari Technologies Pvt Ltd...

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IANS 27 September 2023
Lina Khan-led Federal Trade Commission (FTC) and 17 state attorneys general in the US on Tuesday sued Amazon, alleging that the online retail and technology company is a monopolist that uses a set of interlocking anti-competitive and unfair strategies to illegally maintain its monopoly...

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Moneylife Digital Team 27 September 2023
The Reserve Bank of India (RBI) has cancelled the certificate of registration of Nashik Zilla Girna Sahakari Bank Ltd due to the Bank’s inadequate capital and failure to comply with the banking regulations. Nashik Zilla Girna Sahakari Bank ceased banking business on 26 September...

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Moneylife Digital Team 27 September 2023
Market regulator Securities and Exchange Board of India (SEBI) has suspended the certificate of registration (CoR) of R Wadiwala Commodities Pvt Ltd for three months. While rejecting the registration application of RVI Commodity Services Pvt Ltd, SEBI debarred the firm for three months from...

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IANS 26 September 2023
The Reserve Bank of India (RBI) on Monday slapped fines on State Bank of India, Indian Bank, Punjab & Sind Bank, and Fedbank Financial Services for violating norms.   A penalty of Rs1.3 crore was imposed on State Bank of India (SBI), Rs1.62 crore on Indian Bank, Rs1 crore on Punjab &...

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Moneylife Digital Team 26 September 2023
While making the choice of nomination voluntary for trading accounts, market regulator, Securities and Exchange Board of India (SEBI) has decided to extend the submission of choice of nomination for demat accounts to 31 December 2023, SEBI also decided to extend the last date to 31 December...

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IANS 26 September 2023
As per the joint surveillance meeting of stock exchanges and SEBI, the Trade for Trade (TFT) framework shall be extended to small and medium enterprises (SME) stocks subject to certain changes.   Market participants may note that the TFT framework shall be in conjunction with all...

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Moneylife Digital Team 26 September 2023
The Reserve Bank of India (RBI) has cancelled the certificate of registration of Mumbai-based Kapol Cooperative Bank Ltd due to inadequate capital and failure to comply with banking regulations. Kapol Cooperative Bank ceased to carry on banking business on 25 September 2023.   RBI...

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Moneylife Digital Team 25 September 2023
The Reserve Bank of India (RBI) has cancelled the certificate of registration of two cooperative banks, National Urban Co-operative Bank Limited from Uttar Pradesh (U.P) and Sri Mallikarjuna Pattana Sahakari Bank Niyamita from Karnataka. In two separate statements, RBI has asked these two...

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