REGULATIONS


Moneylife Digital Team 25 August 2021
The National Stock Exchange (NSE) has instructed all members, including stockbrokers and wealth managers, to wind down the sale of digital gold on their platforms by 10th September.   The move follows a warning by Securities and Exchange Board of India (SEBI) on the sale of digital...

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The Ministry of Corporate Affairs has cautioned the public and stakeholders of 'Nidhi' businesses as none of the the companies scrutinised by the government so far have been able to satisfy the requisite criteria for being declared a Nidhi company.   The business of Nidhi companies...

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Moneylife Digital Team 19 August 2021
UPDATED at 4.10pm on 19 August 2021 to include response received from ICEX   There was mismanagement in the liquidity enhancement scheme (LES) at the Indian Commodity Exchange Ltd (ICEX) that resulted in a loss of Rs15 crore. The board of directors of ICEX ordered a forensic audit...

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Moneylife Digital Team 18 August 2021
The Reserve Bank of India (RBI) has decided to partially lift its ban on HDFC Bank Ltd from 18 August 2021. As per the partial relief, HDFC Bank will be able to issue new credit cards, after a ban of eight months imposed by RBI for technical glitches.   In a regulatory filing, HDFC...

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Moneylife Digital Team 16 August 2021
Market regulator Securities & Exchange Board of India (SEBI) has put some restrictions on National Commodity & Derivatives Exchange Ltd (NCDEX), for contracts in Chana trading.   In a release, SEBI says, NCDEX cannot launch new contract for Chana till further orders. "In respect of...

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Moneylife Digital Team 14 August 2021
The Reserve Bank of India (RBI) has cancelled licence of Panvel-based Karnala Nagari Sahakari Bank as the bank does not have adequate capital and earning prospects. RBI says 95% of depositors of the bank will receive full amounts of their deposits from Deposit Insurance and Credit Guarantee...

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Moneylife Digital Team 13 August 2021
Many banks have approached the Supreme Court (SC) to stop the Reserve Bank of India (RBI) from sharing inspection reports of the banks with the public. On the other hand, the banking regulator, however, is using the provisions under the Right to Information (RTI) Act to buy some time, while...

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The National Company Law Tribunal (NCLT) Chennai has dismissed the C Sivasankaran application and ordered the liquidation of Siva Industries.   NCLT said that Sivasankaran application under section 12 (A) does not stand. NCLT has also dismissed the SBI application.   Siva...

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Moneylife Digital Team 06 August 2021
Capital market regulator Securities and Exchange Board of India (SEBI) has introduced the concept of 'accredited investors' in the Indian securities market. The move, which comes after the regulator had issued a consultation paper on the concept in February, is expected to open up a new...

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Moneylife Digital Team 06 August 2021
Market regulator Securities & Exchange Board of India (SEBI) on Friday approved relaxation of lock-in requirement for promoters' shareholding to 18 months from the allotment in initial public offering (IPO) or follow-on public offering (FPO), from three years.   In its meeting, the...

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Moneylife Digital Team 06 August 2021
Market regulator Securities and Exchange Board of India (SEBI) has reduced the minimum application value of real estate investment trusts (REITs) and infrastructure investment trusts (InvITs), while revising trading lot to one unit for these investment instruments to make them more attractive...

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Moneylife Digital Team 06 August 2021
Market regulator Securities & Exchange Board of India (SEBI) says it has refunded Rs129 crore, including interest to 16,909 applications involving 45,451 accounts of investors of Sahara India Real Estate Corp Ltd (SIRECL) and Sahara Housing Investment Corp Ltd (SHICL). As on 31 March 2021,...

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The Reserve Bank of India (RBI) has extended deadlines for meeting certain thresholds prescribed under the Covid Resolution Framework 1.0.   The resolution plans implemented under the Resolution Framework for COVID-19 related stress announced on August 6, 2020, are required to meet...

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To provide comfort to banks on their liquidity requirements, the Reserve Bank of India (RBI) on Friday extended the facility of tapping funds under the marginal standing facility (MSF) for a further period of three months, up to December 31, 2021.   Under MSF banks are allowed to...

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Moneylife Digital Team 05 August 2021
Market regulator Securities and Exchange Board of India (SEBI) wants to align interest of asset management companies (AMCs) and their employees with the unit-holders of the mutual fund (MF) schemes. For this, part compensation to key employees would be given in the form of units of MF schemes...

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Moneylife Digital Team 05 August 2021
Market regulator Securities and Exchange Board of India (SEBI) has allowed mutual funds to maintain current accounts in an appropriate number of banks for receiving the subscription amounts and for payment of redemption to investors. Interestingly, banking regulator Reserve Bank of India...

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Moneylife Digital Team 04 August 2021
Paying heed to outrage on social media and requests by banks, the Reserve Bank of India (RBI) has extended the deadline to 31st October from 31 July 2021 for implementation of its guidelines for banks on current account opening.    In a notification, RBI says, “Banks will be permitted...

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Moneylife Digital Team 04 August 2021
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs50.35 lakh on Janalaxmi Co-operative Bank from Nashik for non-compliance with its directions.   The banking regulator said that the Janalaxmi Co-operative Bank did not follow directions issued on 'Placement of...

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Sucheta Dalal Sucheta Dalal 04 August 2021
The National Stock Exchange (NSE) released its annual report over the weekend, making news for the announcement that it was planning to apply again for an initial public offering (IPO). The Indian capital market is in a rare bull market where food delivery major Zomato is seeing its share...

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Moneylife Digital Team 03 August 2021
IndusInd Bank says it has been empanelled by the Reserve Bank of India (RBI) to act as an 'agency bank' to facilitate transactions related to government businesses. The bank said this will strengthen the bank's presence within the government domain.   The announcement follows a recent...

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