SEBI's crackdown on weekly options has triggered a revenue crisis across Indian brokerages and exchanges, with 26 lakh active clients exiting in the September quarter alone—prompting desperate appeals to restore Bank Nifty trading
SEBI did not bother to check whether the infrastructure is in place for the smooth operation of the policy changes
Association of National Exchanges Members of India (Anmi) believes there is a strong case for the complete abolition of Securities Transaction Tax (STT) and Commodities Transaction Tax (CTT).
SEBI needs to be reminded that it is regulator of the entire market and has to take the view of all stakeholders before implementing structural changes
An ANMI official said due to the second wave of COVID-19, the panic in minds of members and their families, it is becoming difficult to observe some of the mandatory compliances.
Volumes in the market will crash, brokers and exchange revenues will be hit
If the finance ministry does not interfere immediately, SEBI’s diktats can structurally weaken the market.
According to ANMI, the implementation of both STT and LTCG may lead to job losses with no major impact on government revenues.
The proposed agreement is part of the US administration's efforts to combat possible tax evasion by its residents through foreign accounts in India and other countries.
This Vibrant financial markets, this week showcases a large brain pool, The Association of National Exchange Members of India (ANMI).