REGULATIONS


Moneylife Digital Team 19 January 2024
While refusing to interfere in an order passed by the Securities and Exchange Board of India (SEBI), the Securities Appellate Tribunal (SAT) dismissed an appeal filed by Brightcom Group Ltd (BGL) against the SEBI order.   In an order, Meera Swarup (technical member) of SAT says,...

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Moneylife Digital Team 19 January 2024
While refusing to interfere in an order passed by the Securities and Exchange Board of India (SEBI), the Securities Appellate Tribunal (SAT) dismissed an appeal filed by Brightcom Group Ltd (BGL) against the SEBI order.   In an order, Meera Swarup (technical member) of SAT says,...

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Moneylife Digital Team 19 January 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs84 lakh on five cooperative banks, including NKGSB Cooperative Bank Ltd and New India Cooperative Bank Ltd from Mumbai, for non-compliance with the directions issued by the banking regulator.    The highest penalty of Rs50 lakh...

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IANS 19 January 2024
he RBI has asked internal ombudsmen of banks, NBFCs, and credit information companies (CICs) to provide inputs for enhancing internal systems and processes in order to ensure a more effective redress of customer grievances.   As part of the Reserve Bank's continuing engagement with...

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IANS 18 January 2024
The Pension Fund Regulatory and Development Authority (PFRDA) has notified the point of presence (PoP) regulations for introducing a new simplified system of only one registration for the National Pension System (NPS) instead of multiple registrations required earlier, the finance ministry...

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Moneylife Digital Team 17 January 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs10 lakh on Abhijit Pawar (noticee) for indulging in insider trading in Magma Fincorp Ltd, now known as Poonawalla Fincorp Ltd.   In his 27-page order, Ashwani Bhatia, whole-time member (WTM) of...

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Moneylife Digital Team 17 January 2024
Market regulator Securities and Exchange Board of India (SEBI) has clarified that the conversion of warrants into equity shares is not a corporate action as it is not caused by any action taken by the company.     In the informal guidance to Share India Securities Ltd, A Vijayan,...

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IANS 17 January 2024
The Reserve Bank of India (RBI) on Tuesday recommended that state governments should consider fixing a ceiling for incremental guarantees that they issue during a year at 5% of revenue receipts or 0.5% of gross state domestic product, whichever is less.   RBI has also recommended that...

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IANS 16 January 2024
The Reserve Bank of India (RBI) on Monday issued a draft circular which proposes to harmonise regulations of housing finance companies (HFCs) with that of non-banking finance companies (NBFCs) in several areas such as minimum capital requirement and deposit-taking rules.   RBI said it...

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IANS 16 January 2024
The real estate regulatory authority (RERA) said on Tuesday that no promoter should accept more than 10% of the cost of a flat, plot or building as an advance payment or application fee.   Following Section 13(1) of the RERA Act, 2016, and Rule 8 (1) of the Haryana Real Estate...

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IANS 16 January 2024
Amid chaos over flight delays and cancellations due to adverse weather conditions, the directorate general of civil aviation (DGCA) on Monday allowed airlines to cancel flights that are likely to be delayed beyond three hours, an official said, adding the aviation watchdog has also issued new...

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Moneylife Digital Team 16 January 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs93 lakh on eight, including promoters, chairperson and managing director (CMD) and directors, while directing three of them to disgorge Rs22.80 crore, the unlawful gains earned by manipulating the share...

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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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IANS 15 January 2024
The National Highways Authority of India (NHAI) on Monday said that FASTags with incomplete KYC (know-your-customer) will be de-activated or blacklisted by banks after 31st January , as part of its move to enhance efficiency of the electronic toll collection system and provide seamless...

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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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