REGULATIONS


Moneylife Digital Team 30 November 2023
Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs16 lakh on Stock Holding Corp of India Ltd (SHCIL), a designated depository participant (DDP), for non-compliance with rules and regulations, thus failing in fiduciary duties.   In an order, Santosh...

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Moneylife Digital Team 29 November 2023
Holding chartered accountant (CA) Nilesh Chheda responsible for professional misconduct as engagement partner (EP) for the fiscal year (FY)16-17 statutory audit (SA) of MAN Industries (India) Ltd (MIIL), the National Financial Reporting Authority (NFRA) has banned the CA for five years from...

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Moneylife Digital Team 29 November 2023
Market regulator Securities and Exchange Board of India (SEBI) has barred three individuals, Yogesh Kukadia, Rajesh R Kallidumbil, Nithin Raj and their six partnership firms Signal2Noise Capital Partners, Investo Investment Advisers, SS Info Sales, SI Digi Sales, CT Web Sales and ML Tele...

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Moneylife Digital Team 27 November 2023
Market regulator Securities and Exchange Board of India (SEBI) decided to amend the regulations or creation of new regulatory framework, for the facilitation of small & medium real estate investment trusts (SM REITs) with an asset value of at least Rs50 crore vis-à-vis minimum asset value of...

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Moneylife Digital Team 24 November 2023
The Securities and Exchange Board of India (SEBI) decided to do away with its earlier order that provided for the freezing of folios of holders of physical securities without permanent account number (PAN), know-your-customer (KYC) details and nomination, with immediate effect. In March, SEBI...

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Moneylife Digital Team 24 November 2023
Reserve Bank of India (RBI) has imposed a penalty of Rs10.34 crore on Bank of Baroda (BoB), Citibank NA and Indian Overseas Bank for non-compliance with certain directions issued by the central bank.   RBI issued three separate statements on the penalties. A maximum fine of Rs5 crore...

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Moneylife Digital Team 24 November 2023
Reserve Bank of India (RBI) has superseded the board of directors of Abhyudaya Cooperative Bank Ltd for 12 months and appointed Satya Prakash Pathak, former chief general manager (CGM) of State Bank of India (SBI) as administrator to manage the affairs of the cooperative bank during this...

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IANS 24 November 2023
The Reserve Bank of India (RBI) on Friday added 19 entities/platforms/websites to its Alert List of unauthorised forex trading platforms from which people need to stay away as they are illegal.   These entities are neither authorized to deal in forex under the Foreign Exchange...

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Moneylife Digital Team 24 November 2023
Reserve Bank of India (RBI) has imposed Rs6.25 lakh penalties on five cooperative banks from Gujarat, citing the violation of different laws prescribed by the regulator. RBI has levied a fine of Rs2.5 lakh, the highest among the banks, on Shri Mahila Sewa Sahakari Bank Ltd. Other banks...

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Moneylife Digital Team 23 November 2023
Market regulator Securities and Exchange Board of India (SEBI) has barred for one year P Krishnakumar and Jagadeesan S (noticee) of YM Forecast for providing illegal investment advisory services. Mr Krishnakumar and Mr Jagadeesan has also been slapped with a fine of Rs1 lakh each. SEBI asked...

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Moneylife Digital Team 22 November 2023
Coming down heavily on Baba Ramdev's Patanjali Ayurveda on advertisements against modern medicines and vaccination, the Supreme Court, while asking it not to make any misleading advertisements or false claims, has warned of hefty penalties of Rs1 crore on every product for false or misleading...

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IANS 22 November 2023
Highlighting its unwavering dedication to safeguarding passenger interests, the aviation watchdog, the director general of civil aviation (DGCA) has imposed a fine of Rs10 lakh on Air India for non-compliance with passenger-centric regulations.   DGCA said that it carried out...

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Moneylife Digital Team 21 November 2023
Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch launched the much-awaited investor risk reduction access (IRRA) platform at the Bombay Stock Exchange (BSE). The IRRA platform reduces risks faced by investors in the eventuality of technical glitches at the trading...

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Moneylife Digital Team 21 November 2023
Reserve Bank of India (RBI) has imposed a penalty of Rs67.05 lakh on four cooperative banks and one non-banking financial company (NBFC) for deficiencies in regulatory compliance. Of the four banks penalised, two belong to Maharashtra, while the remaining two are from Gujarat and Tamil Nadu....

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IANS 20 November 2023
The Reserve Bank of India (RBI) approved the resolution plan for debt-ridden Reliance Capital on Friday.   The move finally clears the path for Hinduja Group entity—IndusInd International Holdings Ltd (IIHL)—to acquire the company.   "This is to inform you that the...

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IANS 20 November 2023
India’s construction and engineering giant Larsen & Toubro (L&T) has been slapped with two penalties of Rs 111.31 crore and Rs 127.64 crore by Qatar's income tax authorities for alleged variation in the income declared by the company compared with the assessment of the authority, the company...

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Dear Finance Minister:   I am writing to bring to your attention the fact that public sector banks (PSBs) are undermining the government’s effort to provide security to the economically underprivileged through a series of thoughtful insurance schemes.   How is this happening?...

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Moneylife Digital Team 17 November 2023
The Advertising Standards Council of India (ASCI) has proposed guidelines for transparency and accountability in environmental claims-based advertising. Developed by a multi-stakeholder task force, including environmental experts, these guidelines aim to ensure that advertisements are free...

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Moneylife Digital Team 17 November 2023
As many as four non-banking financial companies (NBFCs) and two housing finance companies (HFCs) have surrendered their certificates of registration (CoR) to Reserve Bank of India (RBI) for various reasons. Separately, RBI has cancelled the registration of two NBFCs, New Delhi-based Todays...

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Moneylife Digital Team 17 November 2023
Reserve Bank of India (RBI) has imposed monetary penalties worth Rs62.78 lakh on Manappuram Finance Ltd and Anand Rathi Global Finance Ltd for violating various laws prescribed by the regulator. The central bank imposed a Rs42.78 lakh penalty on Manappuram Finance from Kerala and Rs20 lakh on...

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