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SEBI bans transfer of clients’ securities to broker accounts.
"With effect from June 01, 2020, TM (Trading Member)/CM (Clearing Member) shall, inter alia, accept collateral from clients in the form of securities, only by way of 'margin pledge', created in the depository system...," the circular said. Read More
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LIC's IPO Will Benefit Insurance Industry in India: Fitch
The ratings agency believes that the benefits of the coveted IPO may trickle down to the entire domestic insurance industry in terms of attracting more foreign interest, which could result in an increase in foreign capital inflows into the industry. Read More
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IndusInd Bank names Sumant Kathpalia as CEO.
IndusInd Bank on Thursday announced the appointment of Sumanth Kathpalia as the CEO succeeding Romesh Sobti who turned around a sinking bank a decade ago with a band of colleagues from ABN Amro. Kathpalia, a long-term colleague of Sobti takes over at a time when the stock is at a yearly low and investors worry about its bad loans. Read More
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Mastercard CEO Ajay Banga to step down, insider Michael Miebach tapped.
Mastercard's chief executive officer of 10 years, Ajay Banga, will step down at the start of the next year, the company said on Tuesday, and be replaced by Chief Product Officer Michael Miebach. Banga, who took charge of the company just after the 2008-09 financial crisis, has seen the payment processor's revenue triple during his tenure as online shopping gained prominence around the world. Read More
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Slowing credit growth critical challenge for bank: RBI Guv
Slowing credit growth is one of the most critical challenges for the banking industry and there is a need to focus on prudent lending by the banks, Reserve Bank of India Governor Shaktikanta Das said. Read More
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Whistle-blowers'' complaints ought to be considered by auditors.
The Ministry of Corporate Affairs (MCA) has mandated auditors to consider whistle-blower complaints against companies in their audit process. Read More
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Warren Buffett Weighs In On Corporate Governance.
His comments begin with the general (board composition and director challenges) and evolve to the specific (the role that independent directors fulfill in the broader context of corporate governance). Collectively, they serve as a useful checklist from which the board -or its governance committee-can compare and contrast with its own related policies. Read More
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Why your company holding its AGM in September may be a potential red flag.
"Companies with weak performance wait till the last minute to hold their AGMs. Perhaps, companies hope that their shareholders may not focus on weak financial numbers as attention shifts to the new financial year’s performance," wrote Amit Tandon, founder and Managing Director, IiAS. Read More
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IndiGo flouted rules in some related-party deals, finds SEBI.
The Securities and Exchange Board of India (Sebi) has sent its findings to an internal committee for possible penal action, two people aware of the investigation said on condition of anonymity. Shares of InterGlobe, which operates low-fare airline IndiGo, fell as much as 7.6% on the BSE on Tuesday, before closing 4.68% lower at ₹1,376.70, while the benchmark Sensex index fell 0.2%. Read More
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Sebi probe finds violation of listing and disclosure norms by Sun Pharma.
The Securities and Exchange Board of India (Sebi) has found that Sun Pharmaceuticals had violated its listing and disclosure norms by not revealing the related-party transaction with Aditya Medisales (AML), an entity owned by the drugmaker’s promoters that distributed its formulation in India. Read More
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