India's RBI fines HSBC ₹31.8 lakh over unclaimed deposits and dormant-account lapses Change India's RBI imposed a ₹31.8 lakh monetary penalty on Hongkong and Shanghai Banking Corporation for failing to host a searchable unclaimed-deposits database and for not issuing Unclaimed Deposits Reference Numbers (UDRN) when transferring funds to the Depositor Education and Awareness (DEA) Fund following a statutory inspection with reference date March 31, 2025. Why it matters Banks operating in India are now subject to enforceable operational requirements to publish customer-searchable records of unclaimed deposits and to assign UDRNs on transfers to the DEA Fund. Failure to meet these recordkeeping and traceability requirements exposes institutions to monetary penalties and the possibility of escalated regulatory measures. The420 · Mar 22 More actions Like (sign in) Save (sign in) Share Facebook LinkedIn X / Twitter Copy link
India's Securities and Exchange Board of India (SEBI) fines 111 brokers over algorithmic trading links Change SEBI settled enforcement proceedings by fining 111 stockbrokers a combined ₹1.11 crore under the 2025 Settlement Scheme, with each broker paying ₹1 lakh. Why it matters The settlement closes the specific adjudications for those broker firms but leaves open SEBI's right to reopen cases if any representations were false or settlement undertakings are breached. That preserves legal exposure for firms that relied on the closure and increases uncertainty about past associations with algorithmic trading platforms and application programming interfaces (APIs). The420 · Mar 21 More actions Like (sign in) Save (sign in) Share Facebook LinkedIn X / Twitter Copy link
