REGULATIONS


Moneylife Digital Team 15 January 2024
Market regulator Securities and Exchange Board of India (SEBI) has asked stock brokers' Industry Standards Forum (ISF) to lay out a framework to provide a facility for voluntary freezing or blocking the online access of the trading account to their clients due to suspicious activities. SEBI...

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IANS 15 January 2024
The RBI on Monday released a 'draft framework for recognising Self-Regulatory Organisations (SRO) for FinTech Sector', laying down the characteristics of a FinTech SRO, and includes the required functions and governance standards.   FinTechs are significantly reshaping the landscape...

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Moneylife Digital Team 15 January 2024
Reserve Bank of India (RBI) has cancelled the certificate of registration of Karnataka-based Hiriyur Urban Cooperative Bank Ltd and Gujarat-based Shree Mahalaxmi Mercantile Cooperative Bank Ltd due to the lenders' inadequate capital and poor earnings prospects. RBI has asked both banks to...

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Moneylife Digital Team 15 January 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs35.55 lakh on Kerala-based ESAF Small Finance Bank Ltd and Tamil Nadu-based Sakthi Finance Ltd for non-compliance with the directions issued by the banking regulator.   The highest penalty of Rs29.55 lakh has been imposed on ESAF...

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Moneylife Digital Team 15 January 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs1.20 crore on  Dhanlaxmi Bank Ltd and Rs1 crore on Punjab & Sind Bank for violating rules and regulations on loans and advances, know-your- customer (KYC) directions and directions on interest rate on deposits.   RBI conducted...

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Unless tackled on a war footing, with awareness-building, a crackdown on crime hubs across India, and statutory and regulatory changes, the alarming rise in cybercrime could derail the phenomenal achievements of the fin-tech world in facilitating super-fast financial services. Cybercrime,...

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Moneylife Digital Team 12 January 2024
Holding Reliance General Insurance Company Ltd guilty of violating motor insurance service provider (MISP) guidelines and appointing in-house employees to asses the loss beyond Rs50,000 under motor insurance, the Insurance Regulatory and Development Authority of India (IRDAI) imposed a...

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Moneylife Digital Team 12 January 2024
As many as five non-banking financial companies (NBFC) have surrendered their certificate of registration (CoR) to the Reserve Bank of India (RBI). Four NBFCs submitted their registration certificate after exiting the NBFC business. At the same time, one NBFC has surrendered its registration...

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IANS 12 January 2024
The Department of Consumer Affairs is preparing new guidelines to protect consumers from ads making fake environmental claims about products by using terms such as "eco-friendly", "green", "eco-consciousness", "good for the planet" without providing verifiable evidence.   Secretary,...

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Moneylife Digital Team 11 January 2024
Holding chartered accountant (CA) Anil Chauhan and his firm Anil Chauhan & Associates guilty of professional misconduct while performing the statutory audit of Seya Industries Ltd (SIL) for financial year (FY)18-19, FY19-20, the national financial reporting authority (NFRA) imposed a penalty...

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IANS 11 January 2024
Reserve Bank of India (RBI) governor Shaktikanta Das said on Thursday that post-pandemic digital lending has seen an exponential rise in India and, at the same time, it has also raised a host of business conduct issues on which the central bank was keeping a close watch.   “Various...

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Moneylife Digital Team 11 January 2024
Market regulator Securities Exchange Board of India (SEBI) has imposed a fine of Rs2 lakh on Pradeep K Srivastava, compliance officer of Kwality Ltd, for failing to monitor and report insider trading by promoter, directors and designated persons in the Company scrip.   In an order,...

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IANS 11 January 2024
The US Securities and Exchange Commission (SEC) has finally approved a number of spot Bitcoin exchange-traded product (ETP) shares and with the decision, the world's largest cryptocurrency has joined the global financial system.   The decision will make around a dozen spot Bitcoin...

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IANS 10 January 2024
The US Securities and Exchange Commission (SEC) saw its X account hacked for a brief time, with a post claiming it has approved listings for Bitcoin exchange-traded funds (ETFs).   SEC Chair Gary Gensler later clarified in a post on his X account that the agency’s account was...

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Moneylife Digital Team 09 January 2024
Can you imagine an internet service-provider buying or borrowing bandwidth from an established player and selling it dirt-cheap to customers? Well, this is what is happening right now in the credit information and credit score space. Bajaj Finserv has launched Credit Pass, a credit monitoring...

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Moneylife Digital Team 09 January 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs12.75 lakh on five cooperative banks, including three from Gujarat and one each from Telangana and Tamil Nadu, for non-compliance with the directions issued by the banking regulator.    The highest penalty of Rs7 lakh has been...

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Subhash Chandra Agrawal 08 January 2024
The then Union environment minister Jairam Ramesh (UPA regime) had once rightly termed SUVs (sports utility vehicles)  as ‘socially useless vehicles’ misusing the diesel subsidy for the elite rich capable of purchasing these luxury vehicles. Earlier, the then Delhi chief minister Sheila...

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Moneylife Digital Team 05 January 2024
While allowing investors across all categories to short-sell, Securities Exchange Board of India (SEBI) reiterated that no naked short-selling will be allowed. In a circular, SEBI says institutional investors will have to disclose upfront at the time of placement of an order whether the...

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Even as increasingly affluent Indians desperately hunt for holiday destinations, Lavasa City, India’s first planned, private hill station lies in a shambles. Nestling in the majestic Western Ghats and styled on the lines of the Italian town of Portofino, the township is spread across 12,500...

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Moneylife Digital Team 05 January 2024
Strengthening its ongoing efforts to reduce the quantum of unclaimed deposits in the banking system and return such deposits to their rightful owners or claimants, the Reserve Bank of India (RBI) has issued a revised set of instructions. The revised instructions will come into effect from 1...

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