The National Payments Corporation of India (NPCI) has asked its members to comply with the Reserve Bank of India’s (RBI’s) decision to increase the UPI transaction limit to Rs 5 lakh for hospitals and educational services by January 10. The NPCI has instructed banks, payment service providers (PSPs), and UPI applications to increase transaction limits … Read more
“Consumer-oriented industries have bright prospects, thanks to a strong GDP growth rate and a high rate of domestic consumption. As India’s per capita income rises, the share of the wallet is shifting from goods to services,” says Sujan Hajra, Chief Economist & Executive Director, Anand Rathi Shares and Stock Brokers. In an interview with ETMarkets, … Read more
Starting May 1, 2023, stock brokers and clearing members in India will no longer be allowed to use their clients’ funds for bank guarantees, according to a ruling by the Securities and Exchange Board of India (Sebi). Usually, banks issue bank guarantees on behalf of stockbrokers to stock exchanges for security deposits and margin requirements. … Read more
NEW DELHI: Stock brokers‘ association Anmi on Thursday urged markets regulator Sebi to waive the penalty for short margining in all the segments till September 15 as systems are not fully geared for the new mechanism on ‘pledge and repledge’. The new mechanism on ‘pledge and repledge’ came into force from September 1. Under the … Read more