Sebi issues notices to top NSE executives for Feb 24 trade glitch: Report
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The market regulator has sent notices to top executives of the National Stock Exchange (NSE) for a glitch that halted trading on February 24, the 'Economic Times' reported on Wednesday citing unnamed sources.
It is the first time that the Securities and Exchange Board of India (Sebi) has held exchange employees personally liable for trade disruptions, the paper said. Sebi issued the show-cause notices for violating stock exchange regulations, including deficiencies in "orderly execution of trades" and for not having adequate surveillance systems in place to "ensure market integrity."
Sebi is probing the role of NSE at the institutional level separately, the newspaper said citing the sources.
NSE halted trading at 11:40 am on February 24 and resumed after four hours: the longest such suspension in Indian markets. The glitch that halted trade caused massive volatility during the last hour of trade.
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Shiv Sena (UBT) chief Uddhav Thackeray on Wednesday hit out the BJP, saying that by inducting former Congress leader Ashok Chavan, the ruling party has also become a part of the multi-crore Adarsh Housing Society scam now. Earlier, the BJP used to target Chavan saying the families of martyrs were fooled in the Adarsh scam, but now the same party is involved in fooling them, he alleged.
Thackeray was addressing a press conference at Nanded in Maharashtra, where he arrived to campaign for the Maha Vikas Aghadi (MVA) candidate Vasant Chavan from the Nanded Lok Sabha constituency.
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Dimon, in a webinar hosted by The Economic Club of New York, praised Modi's government for alleviating poverty and implementing reforms. “Modi has done an unbelievable job in India. I know the liberal press here; they beat the hell out of him. “He has taken 400 million people out of poverty," Dimon was quoted as saying.
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The Reserve Bank of India (RBI) on Wednesday released a compiled master direction raising the minimum capital requirement for asset reconstruction companies (ARCs) to begin securitization to Rs 300 crore from Rs 100 crore as on October 11, 2022.
The central bank said that the regulation would be effective from April 24, 2024. ARCs, as on October 11, 2022, have been provided a glide path to achieve the minimum required Net Owned Fund (NOF) of Rs 300 crore.
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Congress leader Rahul Gandhi on Wednesday accused Prime Minister Narendra Modi of waiving off loans worth Rs 16 trillion of his billionaire friends, and said the country will never forgive him for this "crime".
In a post in Hindi on X, he said this money could have been used to cure the pain of Indians but was spent on creating hype for the ilk of those like 'Adanis'.
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