Skip to main content

SEBI, stock exchanges to step up vigilance on eve of results

By
SEBI, stock exchanges to step up vigilance on eve of results
Similar additional safeguards have been effectively used during polls in Gujarat, Uttar Pradesh and other states in the recent past as well as the time of 2014 general elections
Market regulator, the Securities and Exchange Board of India (Sebi) as well as stock exchanges have stepped up surveillance to keep a close tab on possible manipulations and excessive volatility in the markets ahead of assembly elections results in Karnataka.The results of the single-phase assembly elections will be declared on May 15. However, before the formal announcement of the results, several agencies conducted exit polls, predicting the outcome.
The exit poll results for the election were announced after voting ended on May 12.A senior official said the markets regulator and stock exchanges have beefed up surveillance and risk management systems to check any manipulative activities and excessive volatility risks on Monday and Tuesday.
Similar additional safeguards have been effectively used during polls in Gujarat, Uttar Pradesh and other states in the recent past as well as the time of 2014 general elections.
The keenly contested elections in Karnataka is likely to have a major bearing on the central government’s economic agenda as well as on the Lok Sabha polls next year. The Karnataka polls are also being seen by some as a barometre for the prevailing public mood about the Narendra Modi government at the Centre.The enhanced vigil on the markets will continue till May 15, when the results of election will be declared. Poll results will start coming in during trading hours on May 15. Typically, manipulators tend to exploit such volatile situations in the stock market.
The Business Standard, New Delhi, 14th May 2018

Comments

Post a Comment

Popular posts from this blog

RBI deputy governor cautions fintech platform lenders on privacy concerns during loan recovery

By
  India's digital lending infrastructure has made the loan sanctioning system online. Yet, loan recovery still needs a “feet on the street” approach, Swaminathan J, deputy governor of the Reserve Bank of India, said at a media event on Tuesday, September 2, according to news agency ANI.According to the ANI report, the deputy governor flagged that fintech operators in the digital lending segment are giving out loans to customers with poor credit profiles and later using aggressive recovery tactics.“While loan sanctioning and disbursement have become increasingly digital, effective collection and recovery still require a 'feet on the street' and empathetic approach. Many fintech platforms operate on a business model that involves extending small-value loans to customers often with poor credit profiles,” Swaminathan J said.   Fintech platforms' business models The central bank deputy governor highlighted that many fintech platforms' business models involve providing sm
Post a Comment
Read more

Credit card spending growth declines on RBI gaze, stress build-up

By
  Credit card spends have further slowed down to 16.6 per cent in the current financial year (FY25), following the Reserve Bank of India’s tightening of unsecured lending norms and rising delinquencies, and increased stress in the portfolio.Typically, during the festival season (September–December), credit card spends peak as several credit card-issuing banks offer discounts and cashbacks on e-commerce and other platforms. This is a reversal of trend in the past three financial years stretching to FY21 due to RBI’s restrictions.In the previous financial year (FY24), credit card spends rose by 27.8 per cent, but were low compared to FY23 which surged by 47.5 per cent. In FY22, the spending increased 54.1 per cent, according to data compiled by Macquarie Research.ICICI Bank recorded 4.4 per cent gross credit losses in its FY24 credit card portfolio as against 3.2 per cent year-on-year. SBI Cards’ credit losses in the segment stood at 7.4 per cent in FY24 and 6.2 per cent in FY23, the rep
Post a Comment
Read more

India can't rely on wealthy to drive growth: Ex-RBI Dy Guv Viral Acharya

By
  India can’t rely on wealthy individuals to drive growth and expect the overall economy to improve, Viral Acharya, former deputy governor of the Reserve Bank of India (RBI) said on Monday.Acharya, who is the C V Starr Professor of Economics in the Department of Finance at New York University’s Stern School of Business (NYU-Stern), said after the Covid-19 pandemic, rural consumption and investments have weakened.We can’t be pumping our growth through the rich and expect that the economy as a whole will do better,” he said while speaking at an event organised by Elara Capital here.f there has to be a trickle-down, it should have actually happened by now,” Acharya said, adding that when the rich keep getting wealthier and wealthier, they have a savings problem.   “The bank account keeps getting bigger, hence they look for financial assets to invest in. India is closed, so our money can't go outside India that easily. So, it has to chase the limited financial assets in the country and
Post a Comment
Read more