REGULATIONS


Moneylife Digital Team 27 March 2024
Market regulator Securities and Exchange Board of India (SEBI) has barred Jayesh Shantilal Raval (noticee), proprietor of Ways2Star for two years for providing unregistered investment advisory services. While imposing a fine of Rs6 lakh, SEBI also asked Mr Raval to refund Rs48.81 lakh...

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Moneylife Digital Team 26 March 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a Rs7 lakh penalty on Investopher Research Services Pvt Ltd (noticee), a research analyst (RA) from Indore, for non-compliance with directions issued by SEBI.   In its investigation, SEBI found that the noticee...

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The Telecom Regulatory Authority of India (TRAI) on Tuesday released recommendations aimed at streamlining the regulatory landscape of machine-to-machine (M2M) embedded SIM (eSIM) in India.   With the rolling out of 5G services in the country, the opportunities for the M2M ecosystem have...

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Google-owned YouTube has removed over 2.25 million videos in India for violating its community guidelines in the fourth quarter of 2023, the popular video streaming platform said in a report on Tuesday.   The number of videos removed from the platform between October and December 2023...

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India's aviation regulator, DGCA, has imposed a financial penalty of Rs 80 lakh on the Tata-owned Air India for violation of flight duty time limitations (FDTL) and fatigue management system (FMS) regulations of flight crews.   According to the Directorate General of Civil Aviation (DGCA), as...

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Moneylife Digital Team 22 March 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs46.65 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs26.60 lakh has been imposed on Kalupur Commercial Cooperative Bank Ltd from Ahmedabad.   Other banks...

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The RBI on Thursday issued an omnibus framework for recognising self-regulatory organisations (SROs) for its regulated entities such as banks, NBFCs and housing finance companies.   The omnibus SRO framework prescribes the broad objectives, functions, eligibility criteria and governance...

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Moneylife Digital Team 21 March 2024
In an interim order, the securities appellate tribunal (SAT), while partially staying an order passed by the Securities and Exchange Board of India (SEBI), allowed Catalyst Trusteeship Ltd to resume accepting new assignments as a trustee for alternative investment funds (AIFs) from 19 March...

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Moneylife Digital Team 21 March 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs5 lakh on Amit Manchanda, former legal and Company secretary and compliance officer of Radico Khaitan Ltd (RKL), formerly known as Rampur Distillery & Chemical Company Ltd, for failing to monitor trades of...

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The Reserve Bank of India (RBI) on Wednesday issued an order for all branches of banks dealing with government receipts and payments to remain open on March 31, which is a Sunday.   “The Government of India has made a request to keep all branches of the banks dealing with government...

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Moneylife Digital Team 20 March 2024
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has proposed three separate bank accounts in a scheduled bank to establish mechanisms for the operation and maintenance of separate bank accounts for MahaRERA registered projects and to safeguard consumer interests, ensure...

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Moneylife Digital Team 20 March 2024
The Securities and Exchange Board of India (SEBI) has confirmed the ban on five, including an employee from the investment department of Life Insurance Corporation of India (LIC) and his relatives for front-running LIC trades. LIC says it has taken appropriate action against Yogesh Garg, the...

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Moneylife Digital Team 20 March 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs1.95 crore penalty on Tamilnad Mercantile Bank Ltd and DCB Bank Ltd for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs1.31 crore lakh has been imposed on Tamilnad Mercantile Bank.   Tamilnad...

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Moneylife Digital Team 19 March 2024
While dismissing an appeal challenging an order passed by the national financial reporting authority (NFRA) penalising and debarring for professional misconduct a chartered accountant (CA) member of the engagement team for the FY18-19 statutory audit of Coffee Day Global Ltd, the national...

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Moneylife Digital Team 19 March 2024
While expecting gradual easing of liquidity to stabilise lending rates, India Ratings and Research (Ind-Ra) says the Indian economy is in the middle of coordinated tightening on the fiscal, monetary, liquidity and regulatory fronts, the aggregate impact of which will be felt in...

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Moneylife Digital Team 19 March 2024
Market regulator Securities and Exchange Board of India (SEBI) slapped a penalty of Rs7 lakh on two entities for failing to exercise due diligence to ensure timely updation of default in the centralised database for corporate bonds in the case of restructuring of listed non-convertible...

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Moneylife Digital Team 19 March 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs2 lakh on Vadodara-based Marfatia Stock Broking Pvt Ltd for 'exhibiting a casual approach while reporting the data, which is unbecoming of a stockbroker'.   In his 15-page adjudication order,...

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Moneylife Digital Team 18 March 2024
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the certificate of registration of Indore-based Prashant Gole, proprietor of Capital Grow Financial Services, for failing to resolve investor grievances, making false commitments to the clients by promising assured...

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Moneylife Digital Team 16 March 2024
Securities and Exchange Board of India (SEBI) has approved a pilot on the optional T+0 settlement for a set of 25 stocks while relaxing disclosure requirements for foreign portfolio investors (FPI). The market regulator also relaxed compulsory promoter contribution norms for an initial public...

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In the past few weeks, India’s top-2 financial regulators have flexed their muscles to teach market participants some basic lessons in prudence and regulatory compliance. First, the Reserve Bank of India (RBI) imposed business restrictions on Paytm Payments Bank Ltd for repeated violation of...

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