REGULATIONS


Moneylife Digital Team 17 December 2021
With finance minister Nirmala Sitharaman categorically stating that the Insurance Regulatory Authority of India (IRDAI) is not exempted from obtaining approval from the Central Vigilance Commissioner (CVC) while appointing its chief vigilance officer (CVO), the question is: Will the Union...

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Sucheta Dalal Sucheta Dalal 17 December 2021
On 9th December, the market regulator put out a discussion paper on regulating algorithms (algos) for retail investors after several algo-writers had pushed for clarity on their role, responsibilities and, more importantly, liability.    An algorithm codes a certain price pattern to...

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Dr Rajendra M Ganatra Dr Rajendra M Ganatra 16 December 2021
In April 2021, the Reserve Bank of India (RBI) set up an expert committee (EC) to undertake a comprehensive review of the working of asset reconstruction companies (ARCs) in the financial sector ecosystem and recommended suitable measures for enabling such entities to meet the growing...

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IANS 15 December 2021
The Reserve Bank of India on Tuesday introduced the prompt corrective action (PCA) framework for non-banking financial companies (NBFCs), and it will come into effect from October 1, 2022, based on the financial position of NBFCs on or after March 31, 2022.   "NBFCs have been growing...

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IANS 15 December 2021
The Supreme Court on Tuesday said that the adjudicating authority (NCLT) and appellant authority (NCLAT) under the Insolvency and Bankruptcy Code (IBC) cannot compel parties to settle a dispute.   A bench of Justices D.Y. Chandrachud and A.S. Bopanna said: "The adjudicating authority...

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Moneylife Digital Team 14 December 2021
Market regulator Securities and Exchange Board of India (SEBI) has set up an advisory committee for leveraging regulatory and technology solutions (ALeRTS) to enhance technological capabilities and explore appropriate technology solutions for the early detection of market...

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Moneylife Digital Team 10 December 2021
The Securities and Exchange Board of India (SEBI) has finally released a draft framework to regulate retail algo trading after pressure from the public, key whistleblowers and organisations such as Moneylife.    The consultation paper on algorithmic (algo) trading by retail investors,...

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Sucheta Dalal Sucheta Dalal 10 December 2021
India’s investor population has almost doubled since the COVID pandemic forced people to work from home in March 2020. The number of retail investors rose by 14.2mn (million) in FY20-21 alone. The significance of this becomes evident when I tell you that our investor population was just 21mn...

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Moneylife Digital Team 09 December 2021
Paytm Payments Bank Ltd (PPBL), a subsidiary of digital payment services-provider Paytm, says it has received approval from the Reserve Bank of India’s (RBI) to function as a scheduled payments bank. This will help PPBL expand its financial services operations and introduce new...

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Moneylife Digital Team 08 December 2021
Creditors of the twin beleaguered non-banking finance companies (NBFCs) Srei Infrastructure Finance Ltd (SIFL), and Srei Equipment Finance Ltd (SEFL) have overwhelmingly voted in favour of group insolvency proceedings for the non-bank lenders.    Creditors representing 99% of SIFL’s...

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Moneylife Digital Team 08 December 2021
The monetary policy committee (MPC) of the Reserve Bank of India (RBI) has decided to keep policy rates unchanged in its December review. Due to this, the repo rate under the liquidity adjustment facility (LAF) would remain unchanged at 4% and the reverse repo rate at 3.35%. With no change in...

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Moneylife Digital Team 07 December 2021
The Delhi High Court on Tuesday asked an officer from the Central Bureau of Investigation (CBI), who is investigating the National Stock Exchange (NSE) co-location (Colo) scam, to personally be present before the Court on the next date of hearing, says a report from Bar &...

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Moneylife Digital Team 07 December 2021
The comptroller & auditor general (CAG) has finally audited the National Dairy Plan (Phase-I) implemented by the National Dairy Development Board (NDDB), despite the long and stiff resistance put up by the latter. To put things in perspective, the CAG audit has been pending for ten years,...

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Debashis Basu Debashis Basu 07 December 2021
At our 10th anniversary programme in February 2020, Moneylife announced the first-ever Corporate Governance Awards that would be based on direct nominations from active investors, rigorously processed and analysed to eliminate biases. The COVID-19 pandemic delayed our plans for a year; but...

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Moneylife Digital Team 06 December 2021
The Indian government has no plans for boosting the cryptocurrency sector in the country, says Pankaj Chaudhary, Union minister of state for finance.   Giving a written reply in the Lok Sabha, the minister reiterated that cryptocurrencies are currently unregulated and the government...

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Moneylife Digital Team 06 December 2021
All investors in the stock market must update their know-your-customer (KYC) data before 31 December 2021 to keep using their demat and trading accounts, say bourses and depositories.    In a message, the Bombay Stock Exchange (BSE) says, "All investors are requested to take note that...

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Sucheta Dalal Sucheta Dalal 03 December 2021
On 29th November, when the Reserve Bank of India (RBI) superseded the board of Anil Ambani run Reliance Capital Ltd (RCL) and placed it under an administrator, the overwhelming reaction was that, finally, the regulator has bestirred itself to act! Or, as our columnist V Ranganathan says, RBI...

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IANS 01 December 2021
The Supreme Court on Wednesday warned the Oil and Natural Gas Corporation (ONGC) of contempt, for declining to pay fees to the arbitrators, retired judges, who have been arbitrating its dispute with Schlumberger Asia Services Ltd.   A bench headed by chief justice NV Ramana and...

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Ranganathan V Ranganathan V 01 December 2021
Even by the staid standards of the regulator, the glacial pace and unspoken reluctance with which Reserve Bank of India (RBI) issued the diktat to supersede the board of Reliance Capital Ltd on 29 November 2021, the development has been little commented upon in the media that ran headlines on...

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IANS 30 November 2021
Life Insurance Corporation (LIC) has received approval from the Reserve Bank of India (RBI) to increase its stake in the Kotak Mahindra Bank.   The approval is to raise LIC's stake in the bank up to 9.99 per cent from the current 4.96 per cent it has in the private...

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