REGULATIONS


Moneylife Digital Team 12 April 2022
Months after the application, the Reserve Bank of India (RBI) is yet to approve Mobikwik’s application to operate its Zaakpay payment gateway service, while banks have been told to stop dealing with Mobikwik’s payment gateway in 180 days’ time, says a report from Entrackr.   According...

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Moneylife Digital Team 12 April 2022
As many as 22 non-banking financial companies (NBFCs) and one housing finance company (HFC) have surrendered their certificates of registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the RBI Act,...

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The trading hours of various markets regulated by the Reserve Bank will be restored, from April 18, to timings which were applicable during the pre-pandemic period, it was announced on Monday.   The opening time for regulated financial markets will be restored to their pre-pandemic...

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Moneylife Digital Team 08 April 2022
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs93 lakh on Axis Bank Ltd and a fine of Rs90 lakh on IDBI Bank Ltd for non-compliance with the regulatory directions issued by RBI on various norms, including some of serious nature.   RBI conducted a statutory...

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Moneylife Digital Team 08 April 2022
Market regulator Securities and Exchange Board of India SEBI has set up two working groups to review the role and eligibility of a sponsor and trustees of a mutual fund (MF) to facilitate growth and innovation in the industry. A Balasubramanian, managing director & chief executive officer (MD...

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Moneylife Digital Team 08 April 2022
The monetary policy committee (MPC) of the Reserve Bank of India (RBI), in its first bi-monthly policy review for FY22-23, has decided to keep the repo rate unchanged at 4% while restoring the width of the liquidity adjustment facility (LAF) to 50 basis points (bps), the position that...

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Reducing the minimum start-up capital for insurers from the current Rs 100 crore, allowing captive insurers/standalone micro insurers/niche players/regional entities into insurance space, and minimising the regulatory compliance burden are some of the action plans of the insurance regulator...

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The ministry of cooperation on Wednesday barred three credit cooperative societies from collecting deposits from the public.   The three were identified as Sahara Credit Cooperative Society Ltd, Lucknow, Saharayn Universal Multipurpose Society Ltd, Bhopal, and Humara India Credit...

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Moneylife Digital Team 07 April 2022
Market regulator Securities and Exchange Board of India (SEBI) has issued new guidelines for KYC Registration Agencies (KRAs) whereby such agencies will have to independently validate KYC records of all clients from 1st July.   The move comes after SEBI, in January,...

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Moneylife Digital Team 06 April 2022
Market regulator Securities and Exchange Board of India (SEBI) has issued new guidelines for KYC (know-your-customer) Registration Agencies (KRAs) whereby such agencies will have to independently validate KYC records of all clients from 1st July.   The move comes after SEBI, in...

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Moneylife Digital Team 06 April 2022
The sudden holiday declared to mourn the demise of legendary singer Lata Mangeshkar on 7th February exposed the big risk of running stock markets while keeping the banks and forex market shut. The stress and travails of institutions, market intermediaries and custodians have now been spelt...

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Moneylife Digital Team 05 April 2022
Following the debacle at Karvy Stock Broking Ltd, where investors' power of attorney (PoA) was misused to transfer shares and funds, the Securities and Exchange Board of India (SEBI) has now issued guidelines on the execution of 'demat debit and pledge instruction' (DDPI) for transfer of...

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Moneylife Digital Team 04 April 2022
The parliamentary standing committee on finance, headed by Jayant Sinha, has summoned top officials of the Securities and Exchange Board of India (SEBI). The committee may also question SEBI's new chief Madhabi Puri Buch on regulatory issues and the National Stock Exchange (NSE) co-location...

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Moneylife Digital Team 01 April 2022
Market regulator Securities and Exchange Board of India (SEBI) imposed penalties totalling Rs 51 lakh on 18 entities, including individuals, for misutilisation of IPO funds and certain other lapses with respect to the shares of Acropetal Technologies Ltd (ATL).   ATL raised Rs 170...

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Moneylife Digital Team 31 March 2022
The Central Bureau of Investigation (CBI), which is investigating the co-location (Colo) scam at the National Stock Exchange (NSE), has made substantial progress, finance minister (FM) Nirmala Sitharaman informed the Rajya Sabha. In a separate reply, the Union government says the internal...

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Moneylife Digital Team 31 March 2022
Credit information companies (CICs) or credit bureaus are mandated to share corrected particulars with the specified user or individual within 30 days, the Union government informed the Rajya Sabha.   In a written reply, minister of state for finance Dr Bhagwat Karad says, "As per the...

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Moneylife Digital Team 30 March 2022
Market regulator Securities and Exchange Board of India (SEBI) has mandated a 30-days period for all mutual fund (MF) schemes, other than index funds and exchange-traded funds (ETFs), for rebalancing of their portfolios. SEBI says this will bring uniformity across MFs.   In a...

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Sucheta Dalal Sucheta Dalal 30 March 2022
In a curious development, the Securities and Exchange Board of India (SEBI) has gone from issuing press releases supporting the National Stock Exchange (NSE), to throwing the book at it over the mishandled four-hour disruption in trading on 24 February 2021.    SEBI has accused NSE of...

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Moneylife Digital Team 29 March 2022
Market regulator Securities and Exchange Board of India (SEBI) on Tuesday decided to amend regulations to simplify the procedure for transmission of securities, including increasing the threshold limit for documents. SEBI also decided to strengthen the regulatory framework for collective...

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Moneylife Digital Team 29 March 2022
The Securities and Exchange Board of India (SEBI) has taken cognisance of the misleading promotion of Ruchi Soya’s follow-on public offer (FPO) by asking lead managers to initiate corrective action and give investors an opportunity to withdraw.   Essentially, Ruchi Soya, after its...

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