Market Regulators

Market Regulators

1.) RBI : Centralized Web Portal

• The Reserve Bank of India (RBI) has announced that it will launch a web portal to help beneficiaries retrieve unclaimed deposits.
• It will allow users to search for unclaimed deposits across multiple banks, using AI tools to enhance the search results.
• Unclaimed Deposits : Deposits of individuals in any bank account that remain unclaimed for 10 years.

2.) SEBI : Application Supported by a Blocked Amount

• The Securities and Exchange Board of India (Sebi) approved a framework for an Application Supported by a Blocked Amount (ASBA) like facility being made available to investors for secondary market trading.
• It is a facility that allows investors to apply for initial public offerings (IPOs) and invest in the stock market without actually transferring the money to the IPO issuer or stockbroker upfront.

Benefits

• This helps investors earn interest on their money while it is blocked; and
• Eliminates the risk of fraud or misappropriation of funds by intermediaries.

Practice Questions for Prelims

The Chairman of Securities and Exchange Board of India is appointed by the
a) Ministry of finance
b) Reserve Bank of India
c) Stock Exchanges
d) None of the above

ans. a)

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