REGULATIONS


IANS 30 September 2022
The tokenisation of debit/credit card details will happen from October 1 onwards even though there may be laggards unwilling to comply with the regulations, said a senior official of the Reserve Bank of India (RBI).   According to RBI Deputy Governor T. Rabi Shankar, a total of 35...

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Moneylife Digital Team 29 September 2022
Oracle Corporation paid a bribe of more than US$400,000 to officials from a company owned by the Indian ministry of railways in 2019, during the tenure of Union minister Piyush Goyal. This explosive detail is part of the settlement negotiated by Oracle with US Securities and Exchange...

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IANS 29 September 2022
The finance ministry on Thursday clarified that premature closure of an account under the Senior Citizens' Savings Scheme (SCSS) does not get triggered due to the death of account-holder, but is applicable only when the account holder requests for the account's closure before the maturity...

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Yogesh Sapkale Yogesh Sapkale 29 September 2022
With the Reserve Bank of India (RBI)'s deadline for card tokenisation ending on 30th September (unless it is extended again), many debit and credit card-holders are worried about making payments online after 1st October. As per RBI's framework for card-on-file (CoF) tokenisation (CoFT),...

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IANS 29 September 2022
The enforcement directorate (ED) on Thursday said it has frozen the bank balance to the tune of Rs21.14 crore of OctaFx and related entities in the case of illegal online forex (foreign exchange) trading through international brokers namely OctaFx trading app and website octafx.com under FEMA...

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Moneylife Digital Team 29 September 2022
Capital market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration of stockbroker Ficus Securities for mis-managing clients' funds and securities. The stockbroker flouted regulatory norms during the period April 2015 to January 2018, SEBI said in its order....

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Moneylife Digital Team 29 September 2022
Market regulator Securities and Exchange Board of India (SEBI) has levied a penalty of Rs10 lakh on ARG Management Solutions Pvt Ltd for indulging in manipulation of the share prices of Nutraplus India Ltd.   The order came after the market regulator conducted an investigation into...

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Moneylife Digital Team 28 September 2022
Trouble seems to be brewing in the way Repco Home Finance Ltd (RHFL), a listed company with institutional holding, is being run. Moneylife has received exclusive information that the company's promoter, Repatriates Cooperative Finance and Development Bank (Repco Bank), has been trying to...

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Moneylife Digital Team 28 September 2022
The securities appellate tribunal (SAT) has stayed the Securities and Exchange Board of India’s (SEBI’s) order that had imposed a penalty of Rs30 lakh on Reliance Industries Ltd (RIL) and two of its compliance officers, Savithri Parekh and K Sethuraman, for not promptly disclosing the stake...

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Moneylife Digital Team 28 September 2022
Even as the Indian rupee has depreciated, to trade at an all-time low of 81.93 against the US dollar after the surge in the dollar index on Wednesday, State Bank of India (SBI) feels that the Reserve Bank of India (RBI) should allow the domestic currency to depreciate a bit further and find...

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IANS 28 September 2022
In an attempt to reduce claims litigation costs, individual policyholders complaints to Insurance Ombudsman, government owned National Insurance Company Ltd has decided to hire an Internal Ombudsman.   According to the company, the Internal Ombudsman shall deal with all...

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The Leaflet 28 September 2022
A division bench of the Supreme Court held on 23rd September that in a suit seeking permanent injunction, the unregistered document or agreement to sell on Rs10 stamp paper would not be admissible in evidence.   “Having conscious [sic] of the fact that the plaintiff might not succeed...

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IANS 28 September 2022
Some of the biggest Wall Street companies have been fined a total of US$1.8bn (billion) by US financial watchdogs after staff discussed deals and trades on their personal devices and apps.   The Securities and Exchange Commission (SEC) says the investigation uncovered 'pervasive...

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Moneylife Digital Team 27 September 2022
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs95 lakh on 19 individuals involved in manipulative insider trading in securities of Global Infratech and Finance Limited. These individuals are directed to pay the penalty within 45 days either through a...

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Moneylife Digital Team 27 September 2022
The Reserve Bank of India (RBI) has imposed monetary penalties on 11 cooperative banks, including four from Gujarat, three from West Bengal and one each from Maharashtra, Andaman & Nicobar, Odisha and Haryana. All these lenders were found violating RBI's guidelines, including on loans and...

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Moneylife Digital Team 27 September 2022
Markets regulator Securities and Exchange Board of India (SEBI) on Monday issued modalities for investment adviser applications, asking all the new and existing applicants to approach BSE Administration and Supervision Ltd (BASL) for registration-related activities.   In June 2021,...

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Sucheta Dalal Sucheta Dalal 24 September 2022
In a repeat of the Udayant Malhoutra case, the Supreme Court of India (SC), on 19th September, rejected the market regulator’s interpretation of what constitutes insider trading and acquitted Abhijit Rajan, former chairman of Gammon India Ltd. The two insider trading cases, and some others,...

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Moneylife Digital Team 24 September 2022
Expressing concerns over the overseas investment rules issued by the Union ministry of finance, India's former revenue secretary EAS Sarma has urged the ministry to revisit the overseas direct investment (ODI) regime and make sure that it does not open the floodgates to unhealthy money...

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Moneylife Digital Team 22 September 2022
Capital markets regulator Securities and Exchange Board of India (SEBI) has kept in 'abeyance' the proposed initial public offering (IPO) sale of Canada-based Fairfax Group-backed Go Digit General Insurance Ltd. However, SEBI has not provided any reason for putting the IPO in 'abeyance'. A...

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IANS 22 September 2022
The two promoters of New Delhi Television Ltd (NDTV)—Prannoy Roy and Radhika Roy and their investment vehicle RRPR Holding Private Ltd—have approached the Supreme Court (SC) against the securities appellate tribunal (SAT).   In a regulatory filing by NDTV, the promoters had informed...

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