REGULATIONS


Even as millions of new investors enter the capital market, our investor grievance redress system remains broken. Two recent orders that have gone against the Securities and Exchange Board of India (SEBI) expose the frightening state of affairs.   Blame Game with Intermediaries: On...

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Moneylife Digital Team 08 December 2023
Indian Pharmacopoeia Commission (IPC) has issued a drug safety alert about Meftal, a  painkiller, stating that its constituent, mefenamic acid, can cause adverse reactions. Meftal is a commonly used drug for menstrual cramps and rheumatoid arthritis. Meftal is manufactured and sold by Blue...

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Moneylife Digital Team 08 December 2023
The Reserve Bank of India (RBI) has cancelled the certificate of registration of Sitapur, Uttar Pradesh-based Urban Cooperative Bank Ltd, due to the lender's inadequate capital and poor earnings prospects. RBI has asked the Bank to stop banking business from 7 December 2023.   RBI...

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Moneylife Digital Team 08 December 2023
Special economic zones (SEZ) providing a big relief to commercial office owners, the government of India (GoI) has allowed floor-wise denotification of information technology (IT) and information technology enabled services (ITeS) SEZs, fulfilling a long-standing industry demand. The sunset...

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Moneylife Digital Team 08 December 2023
Reserve Bank of India (RBI) has imposed Rs3.10 lakh penalties on four cooperative banks for violating various laws prescribed by RBI. Of these, three belong to Maharashtra and the other to Telangana. The banks penalised are Patan Cooperative Bank Ltd, Prathamik Shikshak Sahakari Bank Ltd,...

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IANS 08 December 2023
The Reserve Bank of India (RBI) will soon lay down the regulatory framework for web-aggregation of loan products since the customers are being harmed now, said the Central bank Governor Shaktikanta Das.   “Several concerns relating to such web-aggregation of loan products harming...

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IANS 08 December 2023
Enhancing the payment limits for Unified Payments Interface (UPI), electronic mandates, setting up of cloud facilities, the financial sector and fintech repository were some of the major announcements made by the Reserve Bank of India Governor, Shaktikanta Das on Friday.   Das...

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IANS 08 December 2023
The Securities Appellate Tribunal (SAT) has set aside the Securities Exchange Board of India (SEBI)’s order restraining IIFL Securities from taking new clients for a period of two years, and has reduced the penalty imposed on the brokerage firm to Rs 20 lakh from Rs 2 crore.   SAT in...

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Moneylife Digital Team 08 December 2023
As predicted by economists, the monetary policy committee (MPC) of Reserve Bank of India (RBI) kept the repo rate unchanged at 6.50% during its February bi-monthly meeting. RBI increased its gross domestic product (GDP) growth by 50bps (basis points) to 7% while keeping its consumer price...

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IANS 07 December 2023
Public sector banks (PSBs) wrote off a whopping Rs3.66 lakh crore loans in the last three financial years, according to RBI (Reserve Bank of India) data.   At the same time, these banks recovered just Rs1.9 lakh crore during this period, the data obtained by Moneycontrol.com through...

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Moneylife Digital Team 06 December 2023
Market regulator Securities and Exchange Board of India (SEBI) has barred for two years Chandrapratap Singh Naruka and Amarjeet Singh Trehan (noticees) from W Gain Research & Development.Com (WGRD) for providing illegal investment advisory services. The noticees has also been slapped with a...

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Moneylife Digital Team 05 December 2023
Terming the conclusion by the adjudicating officer (AO) of the Securities and Exchange Board of India (SEBI) as 'baseless', the Securities Appellate Tribunal (SAT) quashed the SEBI order passed against Reliance Industries Ltd (RIL), the group chief Mukesh Ambani, Navi Mumbai SEZ Pvt Ltd and...

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Moneylife Digital Team 05 December 2023
Coming down heavily on the Securities and Exchange Board of India (SEBI) for its lackadaisical approach to complying with its order, the Securities Appellate Tribunal (SAT) has imposed a penalty of Rs5 lakh on the market regulator. The case is related to the unfreezing of demat accounts of...

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Moneylife Digital Team 05 December 2023
Castigating Securities and Exchange Board of India (SEBI) for not complying with an order passed in October, the Bombay high court (HC) says the market regulator is required to act in the public interest. The HC was hearing a plea filed by minority shareholders of Bharat Nidhi Ltd, a company...

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Moneylife Digital Team 05 December 2023
The Reserve Bank of India (RBI) has cancelled the certificate of registration of Ichalkaranji, Kolhapur-based Shankarrao Pujari Nutan Nagari Sahakari Bank Ltd due to inadequate capital and poor earnings prospects of the lender. RBI has asked it to stop banking business from 4 December...

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Moneylife Digital Team 05 December 2023
Reserve Bank of India (RBI) has imposed monetary penalties on four cooperative banks from Maharashtra for violation of different laws prescribed by the regulator. RBI has levied a fine of Rs4 lakh, the highest among the banks, on Jijamata Mahila Sahakari Bank Ltd.   Other banks...

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Moneylife Digital Team 04 December 2023
Market regulator Securities and Exchange Board of India (SEBI) has asked six entities, including former promoters of Satyam Computer Services Ltd (Satyam), to disgorge unlawful gains of Rs624 crore with an interest of 12%pa (per annum) for about 15 years, taking the total amount to over...

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Moneylife Digital Team 04 December 2023
Securities and Exchange Board of India (SEBI) has decided to extend the timeline for linking the SEBI complaint redressal (SCORES) platform with the online dispute resolution platform to 1 April 2024 from 4 December 2023.   However, regulated entities, including listed companies,...

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IANS 04 December 2023
The Supreme Court on Monday dismissed a plea filed by the Securities and Exchange Board of India (SEBI) against an order passed by the securities appellate tribunal (SAT) setting aside a penalty of Rs65 lakh imposed on Apollo Tyres in an alleged 2003 share buy-back norms violation...

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Moneylife Digital Team 01 December 2023
Reserve Bank of India (RBI) has imposed a penalty of Rs6 lakh on five cooperative banks, citing the violation of different laws prescribed by the banking regulator. Of these, three banks are from Gujarat, while others belong to Bihar and Odisha.   The banks penalised are: Dhrangadhra...

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