REGULATIONS


Moneylife Digital Team 03 August 2021
Almost a month after State-owned Punjab National Bank (PNB) asked PNB Housing Finance (PNBHFL)’s board to "reconsider restructuring" its fund-raising plans, CS Mallikarjuna Rao the managing director (MD) and chief executive officer (CEO) of PNB, said the lender never objected to the deal...

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The Securities and Exchange Board of India (SEBI) has barred Green Money Solution (GMS) and its proprietor Arvind Patidar from the securities market for involving in investment advisory activities without being registered with the capital market regulator.   In an interim ex-parte...

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Moneylife Digital Team 03 August 2021
Market regulator Securities and Exchange Board of India has allowed asset management companies (AMCs) to offer instant access facility in overnight schemes of mutual funds. Earlier, AMCs were allowed to offer such a facility only in liquid schemes. Instant access facility (IAF) facilitates...

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Moneylife Digital Team 02 August 2021
The National Stock Exchange (NSE) is waiting permission from market regulator Securities and Exchange Board of India (SEBI) for submitting draft red herring prospectus (DRHP) for its initial public offering (IPO).   In its annual report for FY20-21, the Exchange says, "NSE has...

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Ranganathan V Ranganathan V 02 August 2021
How earnest the promoter-dominated companies are in making comprehensive, clear and candid communication to minority shareholders and the market at large?   The article looks at three recent instances from Chennai, where companies typically pride themselves on being law-abiding and...

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Subhash Narayan (IANS) 02 August 2021
The Centre has proposed a crackdown on insolvency professionals that develop nexus with companies facing bankruptcy proceedings thereby delaying the resolution process.   Bankruptcy regulator, the Insolvency and Bankruptcy Board of India (IBBI) has tightened disciplinary proceedings...

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Moneylife Digital Team 30 July 2021
Market regulator Securities and Exchange Board of India (SEBI) has disposed the adjudication proceedings initiated against Dewan Housing Finance Corporation Ltd (DHFL) in the matter of certain transaction of shares by the company.   "The present proceedings cannot be continued against...

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Moneylife Digital Team 30 July 2021
As if the pains caused by the coronavirus (COVID) pandemic were not enough for businesses, banks from across the country are either freezing or closing current accounts of customers.   Banks are citing a circular issued by the Reserve Bank of India (RBI) in August 2020 titled 'Opening...

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Moneylife Digital Team 30 July 2021
The Reserve Bank of India (RBI) has cancelled the license of Goa-based Madgaum Urban Cooperative Bank, with effect from 29 July 2021. This bank is latest to add to a long list of badly-run banks whose licenses have been cancelled by the RBI after their poor performance.   The banking...

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Moneylife Digital Team 30 July 2021
Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs10 lakh on Karvy Financial Services Ltd for delay in making public announcement to acquire shares of Regaliaa Realty Ltd.    Karvy Financial made public announcement for open offer with a delay of...

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Market regulator Securities and Exchange Board of India (SEBI) has directed mutual fund asset management companies (AMCs) and mutual fund (MF) registrars and transfer agents (RTAs) to develop and implement an integrated MF transaction platform for investors. As per the SEBI circular, the...

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Sucheta Dalal Sucheta Dalal 29 July 2021
When we Indians are so proud of our information technology (IT) prowess and the many global tech giants headed by Indians, why isn’t cutting-edge technology being employed to refund money that rightfully belongs to savers and investors? The amount of money lying with the government, in the...

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Moneylife Digital Team 29 July 2021
Demat and trading account holders have been advised by depositories to complete their know-your-customer (KYC) details by 31 July 2021. Failure to do so would result in deactivation of their accounts, warns Central Depository Services Ltd (CDSL) and National Securities Depository Ltd...

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The Reserve Bank of India (RBI) has decided to allow payment system providers, prepaid card issuers, card networks and white label ATM operators access to its Centralised Payment Systems (CPS), such as real time gross settlement (RTGS) and National Electronic Fund Transfer (NEFT)...

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Bad news continues unabated for embattled Raj Kundra and his actress wife Shilpa Shetty. Market regulator SEBI imposed a penalty of Rs 3 lakh on the couple and their company Viaan Industries for contravening insider trading rules.   Kundra, Shetty and Viaan have been fined for a...

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Moneylife Digital Team 28 July 2021
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs5 crore on Axis Bank Ltd for contravention of and non-compliance with certain provisions of several directions issued by the central bank.   In a release, RBI says, "This action is based on the deficiencies in...

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Moneylife Digital Team 28 July 2021
With the Union cabinet clearing the Deposit Insurance & Credit Guarantee Corporation (DICGC) Bill 2021, depositors can expect to receive their money back within 90 days from Reserve Bank of India (RBI) declaring moratorium on their bank.    In a media briefing, finance minister...

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Moneylife Digital Team 28 July 2021
Expressing serious concern over the mandatory hallmarking of jewellery, the National Task Force says, the Bureau of Indian Standards (BIS) cannot change the tradition and fabric of the jewellery industry by putting the livelihood of lakhs of jewellers at stake and thus affect crores of...

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Moneylife Digital Team 26 July 2021
The Reserve Bank of India (RBI) has not taken any decision on the recommendations of its internal working group (IWG) to allow large corporate or industrial houses to become promoters of banks, the Lok Sabha was informed on Monday. Further, since 1993, the Indian government has granted...

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Moneylife Digital Team 26 July 2021
Market regulator Securities and Exchange Board of India (SEBI) on Friday announced that investors, who are opening new trading and demat account from 1st October, will have the choice of providing nomination or opting out nomination. SEBI has also issued a format for nomination form and...

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