Regulatory Action
Latest news, explainers and analysis on Regulatory Action. Tracking 7 stories on Arth Vani.
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Latest on Regulatory Action
IIFL Finance Pays RBI Penalty for Gold Loan Violations
IIFL Finance, a major NBFC, has paid a penalty to the Reserve Bank of India (RBI) for violations related to its gold loan operations. This action highlights the central bank's ongoing commitment to enforcing compliance within the financial sector.
RBI Cancels Registrations of 13 NBFCs in Latest Regulatory Action
The Reserve Bank of India (RBI) has revoked the Certificate of Registration (CoR) for 13 Non-Banking Financial Companies (NBFCs). This action underscores the central bank's ongoing commitment to ensuring regulatory compliance and stability within India's financial sector.
SEBI Penalizes SMC Global Securities for Compliance Lapses
India's market regulator, SEBI, has imposed a penalty on SMC Global Securities for failing to comply with certain regulatory requirements. This action underscores SEBI's ongoing focus on ensuring adherence to market rules by financial intermediaries.
IRDAI Fines Canara HSBC Life ₹1 Crore for Policy Mis-Selling
The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of ₹1 crore on Canara HSBC Life Insurance Company. The fine was levied due to instances of policy mis-selling by the insurer.
IRDAI Fines ICICI Lombard ₹1 Crore for Outsourcing, Vendor Management Lapses
The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty of ₹1 crore on ICICI Lombard General Insurance Company. The fine was levied due to deficiencies found in the insurer's outsourcing and vendor management practices.
BreakingMaharashtra FDA Cancels 10 Ayurvedic Drug Licences Over Quality Violations
The Maharashtra Food and Drug Administration (FDA) has cancelled the manufacturing licenses of ten Ayurvedic drug makers following a statewide crackdown. Inspections revealed serious violations of quality control and manufacturing standards, with 135 other manufacturers receiving show-cause notices for non-compliance.
Sebi Order Halts Zee's ₹3,143 Crore Fundraising Plan
Zee Entertainment Enterprises' planned ₹3,143 crore fundraising is likely delayed after the Securities and Exchange Board of India (Sebi) issued an order restricting key individuals from accessing the securities market. The Sebi order prohibits them from dealing in securities for a specified period.
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