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Saturday
July 2020
1:49 AM IST
News Headlines
Missing Mayor found dead in north Seoul        Heavy rain hits scenic central Japan, more damage in south        Bikru bloodbath mastermind Vikas Dubey nabbed in MP town        NIA to probe gold smuggling case, ex-Consulate woman employee moves HC for anticipatory bail        Kerala reports biggest daily spike of 339 infections,COVID-19 tally crosses 6,500 mark        Holder wins early battle with Stokes as Windies take control        Ganguly announces cancellation of Asia Cup in September        We have asked every state to adopt one sport: Rijiju        Rupee slips 9 paise to 75.02 against USD        ICICI Bank to raise up to Rs 15,000 crore to bolster capital base        Trump threatens to cut federal aid if schools don't reopen        Pak PM urges world community to share info on COVID-19 strategies as tally rises to 239,225        Enhancing global cooperation need of the hour to effectively tackle COVID-19: Prez        Kanpur encounter: 2 policemen held for 'tipping off' gangster Vikas Dubey about police action        CBSE should explain rationale behind dropping certain chapters from curriculum: Sisodia        301 test positive in Kerala,COVID-19 tally crosses 6,000 mark        Dhoni turns 39, wishes pour in from all corners        New era for cricket as England-West Indies series begins        India''s COVID-19 tally, fatality rate per million population lowest in world: Govt        Rahul asks why no mention of Galwan Valley in MEA statement on talks        
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Business News
Sebi fines Emkay Global Rs 3 lakh for violating broker norms
 
New Delhi: Markets regulator Sebi on Friday imposed a penalty of Rs 3 lakh on Emkay Global Financial Services for violating brokers' norms, including not settling funds and securities of most of the inactive clients.

The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against the brokerage house for the alleged violation of brokers' norms and found that the value of unsettled amount for inactive accounts during 2013-14 was Rs 1.76 crore and 2014-15 (till December 2014) was Rs 3.90 crore.

Further, there were 196 and 570 clients with balance of more than Rs 10,000 during 2013-14, and April to December 2014 respectively, it added.

Also, Sebi noted that the brokerage house utilised overdraft facility on client bank account and charged interest to the client bank account for such facility, which is in violation of the brokers' norms.

Sebi, however, said that Emkay Global has taken "corrective steps to address the violations observed during inspection, by closing the overdraft facility on clients bank account, and settling funds and securities of most of the inactive clients".

Consequently, the regulator slapped a fine of Rs 3 lakh on Emkay Global.

In separate orders, the markets watchdog imposed a penalty of Rs 7 lakh on VCK Share and Stock Broking Services, Rs 5 lakh on Alice Blue Commodities, Rs 2 lakh on Monarch Networth Capital and Rs 1 lakh on Raghunandan Capital for violating stock brokers' norms.


Rupee slips 9 paise to 75.02 against USD
ICICI Bank to raise up to Rs 15,000 crore to bolster capital base
Gold jumps Rs 102, silver declines Rs 249
Finmin may review capital requirement of PSU banks after second quarter
I-T dept amends TDS form, makes it more comprehensive
Pak will complete CPEC at all costs, says PM Khan
COVID-19 caused huge demand destruction overseas: Bankers
Intel Capital to buy 0.39 pc stake in Jio Platforms for Rs 1,894 cr
Sensex surges over 200 pts in early trade; Nifty tops 10,600
India's trade deficit with China reduces to USD 48.66 bn in FY20
Work to begin shortly on Zojila tunnel: Gadkari
ONGC shares tank 4 pc after first-ever quarterly loss
Vodafone Idea shares plunge nearly 5 pc after FY20 earnings
Diesel price at new high as fuel prices hiked for 22nd time in just over 3 weeks
Prestige group's FY20 sales bookings flat at Rs 4,560 crore
No plans to sell non-core assets during this fiscal: PNB Chief
Petrol price up 25 paise, diesel 21 paise; rates hiked by Rs 9.12, Rs 11.01 in 3 weeks
SBI sanctions loans to over 4 lakh MSMEs under credit guarantee scheme
Money in Swiss banks: India at 77th place, accounts for just 0.06% of all foreign funds
Asian shares advance, tracking Wall Street tech rally
KERALA NEWS
Kerala reports biggest daily spike of 339 infections,COVID-19 tally crosses 6,500 mark
 Thiruvananthapuram: With COVID19 cases continuing to spiral, Kerala on Thursday recorded the biggest  
Kerala reports 272 fresh cases; 68 infected through contact
Will take appropriate decision at appropriate time:Jose K Mani
Kerala reports 131 new COVID cases, 75 recoveries, 2,112 patients under treatment
INTERNATIONAL NEWS
Missing Mayor found dead in north Seoul
 Seoul: The Mayor of this South Korean capital was found dead at Bugaksan mountain here on Thursday,
Heavy rain hits scenic central Japan, more damage in south
Trump threatens to cut federal aid if schools don't reopen
Pak PM urges world community to share info on COVID-19 strategies as tally rises to 239,225
NATIONAL NEWS
Bikru bloodbath mastermind Vikas Dubey nabbed in MP town
 Ujjain: History-sheeter Vikas Dubey ? the prime accused for whom Uttar Pradesh Police had launched a
Enhancing global cooperation need of the hour to effectively tackle COVID-19: Prez
Kanpur encounter: 2 policemen held for 'tipping off' gangster Vikas Dubey about police action
CBSE should explain rationale behind dropping certain chapters from curriculum: Sisodia
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