New Delhi: Following the advice of SEBI, the National Stock Exchange (NSE) has announced that it will postpone the decision to shift the expiry date of weekly contracts in pre-trade from Thursday to Monday.
BSE shares rise due to NSE’s decision
The National Stock Exchange of India (NSE) announced in early March that weekly contracts, which currently expire on Thursday, will now expire on Monday.
It had announced that monthly, quarterly and half-yearly contracts will be shifted to the last Monday instead of the last Thursday.
It had also announced that this change would come into effect from April 4.
In this context, the market regulator SEBI has advised stock exchanges to seek their approval before announcing any change in the expiry date of any contract.
Accepting SEBI’s advice, NSE has announced that it will postpone the decision to change the expiry date indefinitely.
BSE shares rose over 15 percent in yesterday’s trading in response to the postponement of the NSE expiry date. Currently, the BSE expiry date is Tuesday.
What is the penalty imposed by RBI on HDFC Bank?
The Reserve Bank of India has imposed a fine of Rs 75 lakh on HDFC Bank for not following KYC norms properly.
In this regard, the Reserve Bank of India has stated in a notification that HDFC did not assess and categorize customers into low, medium and high risk categories. Moreover, instead of assigning a unique identification code to customers based on risk, it assigned different identification codes.
Initially, a notice was issued asking why a penalty should not be imposed for non-compliance with the RBI order. To this, the decision to impose a penalty was taken only after considering the reply sent by HDFC Bank on behalf of the bank and concluding that it was not appropriate.
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