Page 17 - Ortfolio Allocation News Today

The Reserve Bank of India (RBI) has extended the deadline to 15 March 2024, after which Paytm Payments Bank Ltd is barred from accepting deposits. The last date fixed earlier was 29 February 2024. RBI also released FAQs to help customers understand the implications of its restrictions on Paytm Payments Bank.

The directorate of enforcement (ED) has launched a preliminary investigation or a pre-open inquiry into alleged violations related to the Foreign Exchange Management Act (FEMA) in the Paytm Payments Bank Ltd case, says a report. Meanwhile, citing regulatory actions, the National Highway Authority of India (NHAI) has removed Paytm Payments Bank from its list of 30 authorised banks for the FASTag service.

Enhancing the protection of insurance policyholders, the Insurance Regulatory and Development Authority of India (IRDAI) has proposed to enhance the free look period to 30 days in the case of life and health insurance policies.

Four independent directors of Binny Ltd agreed to pay Rs42.57 lakh to settle the adjudication proceedings initiated by the Securities and Exchange Board of India (SEBI) for violating SEBI regulations and failing to act independently. Those who agreed to settle the matter include justice (retd) S Jagadeesan, T Manisriram, T Radhakrishnan and Dr DVR Prakash Rao.

Balu Forge Industries Limited (BFIL) supplies precision-engineered products, crankshafts and forging components suitable for automobiles, defence, railways and new energy space.

Bharat Electronics Ltd (BEL) manufactures and supplies electronic equipment and systems to the defence sector. It also has a limited presence in the civilian market.

A property card issued by the local government in metropolitan areas serves as an official document identifying the real estate owner. It records pertinent details such as the proprietors name, land acreage, survey number, plot number, district, taluka and village.

Market regulator Securities and Exchange Board of India (SEBI) has barred Arjun Sharma (noticee), proprietor of Commodity Raja for one year for providing illegal investment advisory services. While slapping a fine of Rs1 lakh, SEBI also asked him to refund Rs12.47 lakh collected as fees from clients or complainants.

In a significant order the Supreme Court on Thursday while strucking down electoral bonds scheme as unconstitutional directed State Bank of India (SBI) the issuer bank to stop issuing EBs. The apex court also directed SBI to submit details of electoral bonds purchased since 12 April 2019 till date to Election Commission of India (ECI).

RBI Governor Shaktikanta Das on Wednesday told the managing directors and CEOs of public and private sector banks that the customer grievance redress mechanism and protection of customers’ interests are of paramount importance for the safety and stability of the financial system and that of individual financial institutions.