REGULATIONS


Moneylife Digital Team 25 July 2024
Securities and Exchange Board of India (SEBI) has slapped a fine of Rs3 lakh on PRB Securities Pvt Ltd for failing to adhere to compliance standards. The penalty follows a thorough inspection by SEBI, which scrutinised the PRB Securities' adherence to the SEBI Act of 1992, the SEBI Stock...

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Moneylife Digital Team 25 July 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs9 lakh on Bonanza Portfolio Ltd (Bonanza), a research analyst (RA) from Mumbai, for non-compliance with directions issued by SEBI.   In its investigation, SEBI found that Bonanza committed severe...

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Moneylife Digital Team 25 July 2024
National Stock Exchange (NSE) has issued a warning about a Telegram channel, 'Banknifty Express' that is operating through mobile number 8306829377 and collecting funds from the public and providing securities market tips for trading and assured or guaranteed returns on investment in the stock...

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Moneylife Digital Team 24 July 2024
While slapping a penalty of Rs1 crore on Care Health Insurance Ltd (CHIL), the insurance regulatory and development authority of India (IRDAI) has asked the subsidiary of Religare Enterprises Ltd to buy back within 30 days 7.57mn (million) shares allotted to Dr Rashmi Saluja, the non-executive...

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Moneylife Digital Team 24 July 2024
As many as eight non-banking financial companies (NBFCs) have surrendered their certificates of registration (CoR) to the Reserve Bank of India (RBI). Of these, three have chosen to exit the NBFC business entirely, while five NBFCs ceased operations due to corporate actions, including...

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Moneylife Digital Team 24 July 2024
Reserve Bank of India (RBI) has cancelled the certificate of registration (CoR) of Assam-based Mahabhairab Cooperative Urban Bank Ltd due to the lender's inadequate capital and poor earnings prospects. RBI has asked the Bank to stop banking business from 24 July 2024.   RBI says that...

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Moneylife Digital Team 23 July 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs4 lakh on Delhi-based Indian Finance Guaranty Ltd (IFGL) for failing to comply with regulatory standards, including a issue related to its investor grievance system.   In an order, Barnali Mukherjee,...

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Moneylife Digital Team 23 July 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs5 lakh on Yashwant Cooperative Bank Ltd from Maharashtra for non-compliance with the directions issued by the banking regulator.   The Bank was penalised for contravention of the provisions of section 26A of the Banking Regulation Act (BR...

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Moneylife Digital Team 22 July 2024
The International Financial Services Centres Authority (IFSCA) has been empowered to oversee credit rating agencies (CRAs) and environmental, social and governance (ESG) rating providers (ERPs) operating within the International Financial Services Centre – Gujarat International Finance...

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Moneylife Digital Team 22 July 2024
Reserve Bank of India (RBI) has cancelled the certificate of registration (CoR) of Andhra Pradesh-based Uravakonda Cooperative Town Bank Ltd due to inadequate capital and poor earning prospects of the lender. RBI has asked the Bank to stop banking business from 20 July 2024.   RBI says...

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Moneylife Digital Team 22 July 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs1.90 lakh on Muthoot Finance Ltd for non-compliance with RBI directions on know-your-customer (KYC).   RBI's statutory inspection confirmed that Muthoot Finance had assigned more than one unique customer identification code (UCIC) to some...

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Moneylife Digital Team 22 July 2024
Securities and Exchange Board of India (SEBI) has barred Shashikant Kumar, the owner of SM Global Research, from the markets for two years for providing illegal investment advisory services. In addition to the ban, SEBI has imposed a fine of Rs6 lakh on Mr Kumar and ordered him to refund Rs1.63...

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Moneylife Digital Team 19 July 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs4.50 lakh on four cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs2.50 lakh has been imposed on Chandrapur District Central Cooperative (DCC) Bank Ltd from...

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Moneylife Digital Team 17 July 2024
Market regulator, Securities & Exchange Board of India (SEBI), proposed a new investment product category that could bridge the perceived gap between mutual funds and portfolio management services (PMS). In its consultation paper, SEBI suggested a minimum investment of Rs10 lakh for the new...

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Moneylife Digital Team 16 July 2024
On 23 June 2024, Moneycontrol reported that the Securities and Exchange Board of India (SEBI) officials had conducted search-and-seizure operations at quant Mutual Fund (MF) as part of an investigation into suspected front-running of trades.   Following this, quant MF had written to its...

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Moneylife Digital Team 16 July 2024
The Reserve Bank of India (RBI), while revising its master directions on fraud risk management in the regulated entities (REs), directed lenders, including commercial banks, all India financial institutions, cooperative banks and non-banking finance companies (NBFCs),  including housing finance...

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Moneylife Digital Team 16 July 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs25 lakh on Monetary Solutions and its proprietor, Ankit Vyas (noticee), a SEBI-registered individual investment adviser (IA), for multiple regulatory breaches.   These violations include non-compliance with...

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Moneylife Digital Team 16 July 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs7.25 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator.    The banks penalised by RBI are: Mahabaleshwar Urban Cooperative Bank Ltd, Nagarik Sahakari Bank Ltd and Abasaheb Patil Rendal...

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Moneylife Digital Team 15 July 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs5.98 crore on three cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs5.93 crore has been imposed on Mehsana Urban Cooperative Bank Ltd from Gujarat.   Other banks penalised...

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Moneylife Digital Team 15 July 2024
Reserve Bank of India (RBI) deputy governor, Michael Debabrata Patra, highlighted the significant role of India's monetary policy in the country's journey towards becoming a developed economy during a discussion with Indian Administrative Service (IAS) officials. He stressed the importance of...

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