Sebi has banned First Overseas Capital from the securities market and new IPO mandates for two years, imposing a ₹20 lakh fine. The regulator found the merchant banker violated norms by not maintaining adequate net worth, exceeding underwriting limits, and engaging in non-securities business. These actions followed an inspection revealing multiple regulatory breaches.Read More
WazirX is set to resume operations after a 15-month hiatus following a $235 million cyberhack. The Singapore High Court approved a restructuring plan, promising users 85% of their balances by July 18, 2024, with the remainder over three years.Read More
Nifty surged past 26,000, reclaiming the milestone after over a year, driven by strong global cues and optimism about a potential India-US trade agreement. Despite profit booking, analysts suggest positive global sentiment, foreign inflows, and strong earnings could sustain the upward momentum. The short-term trend remains intact, with potential to revisit higher levels.Read More
Banking profits from treasury operations significantly declined in the September quarter, nearly halving due to rising bond yields and the absence of central bank support. This trend is expected to persist, impacting income for the current quarter as well. Major banks like HDFC and ICICI Bank witnessed substantial drops in their treasury gains.Read More
Sebi is proposing to make it easier for Non-Resident Indian clients to complete their KYC. The markets watchdog wants to remove the requirement for NRIs to be physically present in India for digital onboarding or video identification. This change aims to simplify compliance for overseas investors. Public comments are invited on the draft proposal.Read More
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