REGULATIONS


Moneylife Digital Team 14 June 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs1.45 crore on Central Bank of India for sanctioning a working capital demand loan to a corporation against receivable from government subsidies and failing to credit money to customer accounts in the unauthorised electronic...

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Moneylife Digital Team 14 June 2024
The Telecom Regulatory Authority of India (TRAI) says reports about the regulator planning to charge subscriber with multiple SIMs or using more numbering resournces are completely false. "Such claims are unfounded and serve only to mislead the public."   In a statement, TRAI says on 6 June...

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Moneylife Digital Team 14 June 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs4.25 lakh on four cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs2 lakh has been imposed on Nandani Sahakari Bank Ltd from Maharashtra.   Other banks penalised by RBI are...

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Moneylife Digital Team 14 June 2024
The Reserve Bank of India (RBI) has restored functionality to its automated sweep-in and sweep-out (ASISO) system following a technical disruption.   The glitch, which occurred on RBI's ASISO facility within the e-Kuber platform, temporarily hindered Bank’s access on Wednesday. This platform...

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Moneylife Digital Team 14 June 2024
Securities and Exchange Board of India (SEBI) has debarred background check company SecUR Credentials and its managing director (MD) Rahul Belwalkar from the securities market, for imposing significant restrictions due to alleged financial irregularities and corporate governance lapses. This...

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Moneylife Digital Team 13 June 2024
Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs7 lakh on Majestic Auto Ltd for the company's failure to obtain approval from the audit committee and shareholders for related party transactions (RPTs) during FY18-19.   In an order last week, Amar Navlani, adjudicating...

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Moneylife Digital Team 13 June 2024
Securities and Exchange Board of India (SEBI) has levied a fine of Rs2 lakh following an adjudication order scrutinising the trading practices of specific entities associated with Ascom Leasing and Investments Ltd (noticee). This order investigates explicitly the misclassification of Saffron...

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Moneylife Digital Team 12 June 2024
The Securities and Exchange Board of India (SEBI) has imposed a fine of Rs1 crore each on Pradeep Pandya, former markets editor of CNBC Awaaz, and Alpesh Vasanji Furiya, a technical analyst, for engaging in fraudulent trading activities. The penalties follow a comprehensive investigation...

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Moneylife Digital Team 12 June 2024
Taking cognizance of corporate governance issues at PTC India Financial Services Ltd (PFS), market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs25 lakh on Pawan Singh, former managing director and chief executive officer (MD&CEO) and Rs10 lakh on Rajib...

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Moneylife Digital Team 12 June 2024
Johnson & Johnson (J&J) has agreed to pay US$700mn (million) to settle an investigation by 42 US states and Washington DC into its marketing of baby powder and other talc-based products blamed for allegedly causing cancer, says a news report.   According to a report from Reuters, the...

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Moneylife Digital Team 11 June 2024
Securities and Exchange Board of India (SEBI) has released a consultation paper inviting public feedback on proposed revisions to the eligibility criteria for stock derivatives. According to SEBI, this move is designed to bolster market integrity and investor protection in response to...

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Moneylife Digital Team 11 June 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs2.75 lakh on three cooperative banks and India Home Loan Ltd, a housing finance company (HFC), for non-compliance with the directions issued by the banking regulator.   The cooperative banks penalised by RBI are: Angul United Central...

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Moneylife Digital Team 11 June 2024
The Insolvency and Bankruptcy Board of India (Board/IBBI) has released a discussion paper on reducing compliance by reviewing corporate insolvency resolution process (CIRP) forms submitted by insolvency professionals (IPs) to IBBI. The Board seeks public comments by 1 July 2024.    Stating...

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Moneylife Digital Team 10 June 2024
With the last date to submit a choice of nomination for demat accounts and mutual fund (MF) folios coming near, market regulator Securities and Exchange Board of India (SEBI) has clarified that non-submission of choice of nomination will not result in freezing of these accounts or MF...

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Moneylife Digital Team 10 June 2024
Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs20 lakh on one Rajat Mishra for insider trading and failing to respond to summons and furnish information. SEBI investigation revealed that Mr Mishra and another entity were engaged in suspicious trading activities prior...

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Moneylife Digital Team 07 June 2024
Securities and Exchange Board of India (SEBI) has introduced a stringent new framework to reinforce surveillance standards at market infrastructure institutions (MIIs) such as stock exchanges, clearing corporations and depositories. The framework is scheduled to come into effect from 1 July...

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Moneylife Digital Team 07 June 2024
Reserve Bank of India (RBI), while revising upwards bulk deposit limits and rationalising export and import regulations, introduced new facilities within the e-mandate framework for recurring payments without fixed periodicity to streamline digital payments.   RBI increased to Rs3 crore from...

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Moneylife Digital Team 06 June 2024
Acting on several complaints by shareholders of ICICI Securities, some of whom received calls from ICICI Bank seeking favourable votes for the delisting scheme, market regulator, Securities and Exchange Board of India (SEBI) has issued an administrative warning over the outreach efforts.   In...

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Moneylife Digital Team 06 June 2024
Following an order from the Supreme Court, all advertisers and advertising agencies are mandated from 18 June 2024 to submit a 'self-declaration certificate' before publishing or broadcasting any advertisement. The certificate, signed by an authorised representative of the advertiser or...

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Moneylife Digital Team 05 June 2024
To enhance operational efficiency and reduce the risk to clients' securities, market regulator Securities and Exchange Board of India (SEBI) decided to make the process of direct payout of such securities to the client's account mandatory. It will be effective from 14 October 2024, SEBI says in...

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