SEBI issues settlement order to Utkarsh Small Finance Bank
The Securities and Exchange Board of India (SEBI) has issued a settlement order to Utkarsh Small Finance Bank upon the payment of Rs 1.24 crore by the lender.
The Securities and Exchange Board of India (Sebi) has re-constituted its 17-member commodity derivatives advisory committee (CDAC) that examines issues related to contract designs and new products in the segment. The same committee also advises on matters related to delivery mechanism and warehouses.
The committee has been mandated to recommend measures for improving market safety, efficiency, transparency and integrity and reducing cost of transaction.
In addition, the panel will examine issues related to contract designs and new products in commodity derivatives and to advise on matters related to delivery mechanism and warehouses. Among others, it will recommend changes if required in the risk management system and suggest changes if required in the regulatory framework of commodity derivatives including governance of commodities derivatives exchanges.
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Further, the panel will also suggest measures for changes and improvements in market structure in view of the impending changes.
As per the latest Sebi data, CDAC would be chaired by retired IAS officer Ashok Dalwani. Other members will include BSE MD and CEO Ashish Chauhan, and NSE MD and CEO Vikram Limaye along with the chiefs of MCX, ICEX and NCDEX.
The panel also has representatives from Sebi, Niti Aayog, Reserve Bank of India, finance ministry, NABARD, CPAI, WDRA and MMTC.
Besides, representatives of commission for agricultural costs and prices, department of agriculture, cooperation and family welfare, department of consumer affairs, department of food and public distribution and department of commerce are members of the committee.
The terms of reference of the committee also include review investor protection measures in the exchanges and suggest improvements as well as examine aspects related to various intermediaries and their regulations.
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