SEBI Wakes Up

For most of the 1990s, the capital market regulator was perceived as being uncomfortably close to the broker community and reluctant to rein them in. In 1994, after the National Stock Exchange (NSE) came into existence, its visionary leadership under Dr RH Patil initiated many of the reforms to modernise the Indian capital market. The NSE set the agenda for margin norms and its conservative...

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