RBI unveiled a few weeks ago its discussion paper on the proposed holding company structure for financial conglomerates, there were no murmurs of protest from any of the other regulators.
Prior to this assignment, he held the position of chief general manager in Reserve Bank of India and was heading the department of banking operations and development. During his stint in the RBI, he has had a wide experience in regulatory and other functions.
Securities and Exchange Board of India may soon launch a full-fledged investigation into the alleged violation of mutual funds regulations by JM Mutual Fund while dealing in government securities.
Will mull bringing under own ambit all financial products from abroad sought to be sold to Indians.
A sluggish industrial growth has impacted the corporate bond market, too.
Finance Ministry meets market participants, wants feedback.
Both the Securities and Exchange Board of India and the Reserve Bank of India were trying to find if Puri was also involved in front-running and used his information on positions taken by Citi for placing bets, said an official with one of the regulators.
The ministry on Thursday discussed the issue with participants of the debt market to enlist views for widening the corporate bond market.
The proposal to merge the Gujarat International Finance Tec-City (GIFT City) units of the National Stock Exchange (NSE) and BSE has reached an advanced stage, and both bourses could file an application before the National Company Law Tribunal as early as this month, according to a top regulatory official. Sources indicate that the merger proposal has received approval from their respective boards. Both the NSE and BSE are arch rivals when it comes to onshore trading.
Telecom regulator Trai on Monday said that it is working on various technologies to detect pesky calls and messages along with a joint action plan with other regulators to curb financial frauds. The Telecom Regulatory Authority of India (Trai) said that Unsolicited Commercial Communication (UCC) or pesky communication is a major source of inconvenience to the public and impinges on the privacy of individuals. "Now complaints are reported against Unregistered Telemarketers (UTMs), where a surge has been seen in pushing various kinds of UCC SMSes. Additionally, UCC calls are also one of the concerns which need to be dealt with equally along with UCC SMSes," it said.
Recent measures by the Reserve Bank of India and the Securities and Exchange Board of India are being seen by observers as an attempt to reverse the inexorable decline of the rupee.
Indiabulls has received Sebi's approval to enter the mutual fund operations.
Overseas investors, as well as other key stakeholders, such as brokers, custodians, and clearing corporations, are yet to iron out critical issues, even as the shift towards a shorter trade settlement cycle approaches new phases. Several industry players said foreign portfolio investors (FPIs) are still facing impediments over the trade confirmation timelines, foreign exchange (forex) bookings, and pre-funding requirements. This could potentially act as a roadblock when it comes to moving entirely to the new T+1 settlement cycle from next year.
The issue has gained importance as a working group of International Organisation of Securities Commission (IOSCO) has been set up to study the impact of private equity funds on emerging markets.
Regulatory capacity, hyperactivity and excessive prescription are the biggest challenges the financial sector is facing, said Meleveetil Damodaran, former chairperson, Securities and Exchange Board of India (Sebi). Speaking at the Business Standard BFSI Summit on Wednesday, Damodaran highlighted the need for simpler, clear, and continuous regulations in the financial sector. He opined that the industry had felt it challenging to keep pace with the changing regulations.
The offer is to close on April 26 and the price is fixed at Rs 1,440 a share.
The move comes a full four years before the deadline set by the Reserve Bank of India.
The government is likely to restrict foreign direct investment in stock exchanges to 49 per cent. This follows a Reserve Bank of India suggestion for limiting FDI in stock exchanges some time ago.
Financial conglomerates neither have group-wide oversight mechanisms nor do they follow enterprise-wide risk management practices, according to the findings of a monitoring exercise by the Reserve Bank of India (RBI), Securities and Exchange Board of India (Sebi) and Insurance Regulatory and Development Authority (Irda).
India may soon have a database for international transactions, particularly those routed through nations with which New Delhi has tax avoidance pacts, to check non-payment of taxes, if a proposal by a government panel has its way.
The move follows concerns raised by the Reserve Bank of India. According to sources, the central bank is concerned that most sovereign wealth funds operate in a non-transparent manner.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
According to RBI sources, the government -- which appoints deputy governors -- is of the view that it will do away with the practice of reappointment to important posts like chairman of the Securities and Exchange Board of India, RBI, National Bank for Agriculture and Rural Development.
Security and Exchange Board of India Chairman C B Bhave and representatives from the Reserve Bank and Corporate Affairs Ministry are likely to brief parliamentary standing committee on finance about the latest developments in the Satyam fraud case, at a meeting called on Wednesday to discuss the issue.
What needs to be done to make Mumbai even more attractive is to provide more residential accommodation and faster transport to the southern end of the city (Nariman Point), which is the Manhattan of India.
A top Sebi official on Friday criticised the RBI's "conflicting" roles as a regulator of the government securities market and as a market participant, suggesting that Sebi was better suited for the regulatory function.
Through the UB Group, Mallya holds 21.98 per cent stake in MCF.
The buoyant foreign capital flows in debt instruments since the beginning of 2010 could weigh on the Reserve Bank of India's decision on whether to raise policy rates.
The Investors' Grievances Forum on Wednesday charged the Reserve Bank of India with continued cover-up operation in the IPO scam instead of nailing down the scamsters.
Finance Minister Jaswant Singh on Monday swung into action asking the RBI and the Sebi to take necessary action to improve the health of the bourses following the unprecedented crash that wiped out huge sums of market capitalisation.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances