Markets regulator Sebi on Monday imposed a penalty of Rs 25 crore on Yes Bank in the matter of misselling the lender s AT-1 bonds few years ago. Besides, the watchdog has imposed a fine of Rs 1 crore onVivek Kanwar, whowas the Managing Director of Yes Bank, Rs 50 lakh each onAshish Nasa and Jasjit Singh Banga, who werepart of the bank s private wealth management team at the time of violation. They need to pay the penalty within 45 days, Sebi said in its order.
Yes Bank Ltd (YBL) and certain officialsdevised the devious scheme to dump the AT-1 (Additional Tier-1) bonds on their hapless customers , the regulator noted.
Read more about Sebi comes out with new guidelines on reporting formats for mutual funds on Business Standard. Capital markets watchdog Sebi on Monday came out with fresh guidelines on reporting formats for mutual funds.
Digital payments firm Paytm Payments Bank on Monday said Securities and Exchange Board of India has approved Paytm UPI handle to enable fast and seamless payment mandates for IPO applications.
Paytm Payments Bank (PPBL) has also entered into a partnership with Paytm Money to enable payment mandates for IPO applications. Paytm Money has the aim to bring 10 million Indians to equity markets by the financial year 2022. By enabling @paytm UPI to apply for IPO, we are giving millions of investors the ease of seamless, secure, and rapid payments to help enhance their financial portfolio. We believe that every Indian has a right to access capital markets and benefit from the burgeoning list of successful companies which are listing in the stock market, PPBL MD and CEO Satish Gupta said in a statement.
Read more about Sebi extends Central KYC Registry to legal entities on Business Standard. Sebi on Wednesday asked regulated entities to upload Know Your Customer data pertaining to accounts of legal entities opened on or after April 1, onto the Central KYC Registry
Read more about Sebi lays guidelines on votes cast by mutual funds to improve transparency on Business Standard. The move is aimed at encouraging fund houses to diligently exercise their voting rights in best interest of the unit holders