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Disgruntled SEBI writes a (strongly worded) letter to the RBI

Disgruntled SEBI writes a (strongly worded) letter to the RBI

Monday, March 13, 2017, 10:43 AM

In a classic example of the regulatory turf war, market watchdog Securities and Exchange Board of India (SEBI), in a recent letter to the banking regulator Reserve Bank of India (RBI), has expressed its displeasure over RBI’s intervention in trading of HDFC’s shares. As a pretext, the FDI Policy sets the bar at 74% for foreign investment in private sector banks.
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