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From Fraud Checks To Faster Settlements, SEBI Whole-Time Member Lists Recent Market Reforms In India
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‘There are some initiatives that we have taken to protect investor interest, to develop market, to deepen market integrity, that no other country has done’: Sebi Whole-Time Member.
SEBI Check Tools to Fight Fake Apps and Payment Frauds.
India’s capital market systems are emerging as global benchmarks in settlement speed, investor protection and technology-led regulation, SEBI Whole-Time Member Kamlesh Chandra Varshney said, outlining a series of structural and digital initiatives aimed at strengthening market integrity and transparency.
Speaking at the News18 Rising Bharat Summit, Varshney said several of India’s reforms were implemented ahead of other major economies and are now drawing international attention. “We can proudly say that there are some initiatives which we have taken to protect investor interest, to develop market, to deepen market integrity, which no other country has done. After we have done that, other countries are taking steps,” he said.
India Ahead on Settlement Speed
Varshney highlighted India’s early adoption of T+1 settlement — where trades are settled within one day — noting that the country introduced it before the United States. He added that regulators are already experimenting with T+0 settlement, which would further shorten the time between trade execution and final settlement.
“We were the first country to have T+1 settlement. Only after us did the US move to T+1 settlement. By the time they did that, we were experimenting with T+0 settlement,” he said, adding that faster settlements improve efficiency and reduce opportunities for manipulation.
Client-Level Safeguards After Past Broker Failures
Referring to a past case in which a broker pledged client securities with banks and later went bankrupt, Varshney said such incidents showed the need for stronger safeguards to ensure investors do not suffer losses due to intermediaries’ actions.
SEBI responded by introducing a technology-driven pledging and re-pledging framework that keeps securities in the investor’s account even when used as collateral. It also implemented systems for upstreaming of funds and direct payout of securities, ensuring transactions move directly between clearing corporations and client accounts instead of passing through brokers.
“This kind of system is nowhere in the world,” he said, adding that India’s clearing corporations have full client-level visibility, unlike the broker-level visibility common in many markets. This structure prevents brokers from using one client’s funds to meet another client’s obligations.
New Transparency Rules for Advisers and Algo Providers
The regulator is also tightening oversight of investment advisers, research analysts and algorithm providers. While mutual funds can publish performance because their net asset values are transparently disclosed, advisers could previously showcase selective results, potentially misleading investors.
To address this, SEBI has piloted a platform developed jointly by PARWA, NSE and CARE that tracks advice and performance in real time from the start of registration. After a fixed period — such as three or six months — standardised results are published showing whether recommendations or algorithms performed well.
“This is a transparent way of publishing results,” Varshney said, adding that more than 25 participants have already registered in the trial system. The pilot is expected to conclude by March or April, with a full rollout likely from May or June. He said such a monitored disclosure framework does not exist elsewhere.
SEBI Check Tool to Fight Fake Apps and Payment Frauds
Warning about rising cyber fraud in the securities market, Varshney said investors — including professionals such as doctors, engineers and chartered accountants — have lost large sums after transferring money through fake apps or unverified payment links posing as legitimate intermediaries.
To counter this, SEBI has launched “SEBI Check,” a verification facility available through its Sarthi 2.0 app and website. Investors can scan QR codes or enter bank account details and IFSC codes to confirm whether a payment destination belongs to a registered market intermediary.
“If this bank account is of a market intermediary, then it will say yes, you can make the payment. It is verified,” he said, adding that the tool is especially useful before making large transfers.
Regulator Pushes Tech Tie-Ups With Platforms
SEBI has also collaborated with Google so that Android users see a verified mark beside apps of registered capital market intermediaries on the Play Store. The regulator is in discussions with Apple to implement a similar system for iOS users.
“In this digital world, there is a good use of technology and bad use of technology. It is important that all these people who are using technology for good should come together and pool their resources,” Varshney said.
‘All Lenders Have Become Very Cautious’: Equifax India MD
Aditya B Chatterjee, MD of Equifax India, said, “All the lenders have become very cautious. They have become very cautious on the ticket size. We are seeing that there is a direct effect of the ticket size and delinquency. Again, zero to 15,000 is a very high delinquency, but if we go to a loan above one lakh or two lakh, it becomes very secure.”
‘We Are Ensuring Credit Access Down To Village Level’: PhonePe Lending CEO
Hemant Gala, CEO, PhonePe Lending said, “At PhonePe, in a very sustainable way, we are ensuring that customers in tier three four five cities towns, villages get access. Likewise merchants who were not being able to access credit, have a sustainable flow of credit.”
He also said formalisation phase coming, which leads to data understanding of structure data formats to be able to figure out what is the credit spending , how to lend and how to give money to people.
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February 28, 2026, 12:10 IST
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The fire has deepened fears over the nation’s petrol supplies amid a global crunch.
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SIA chief set to meet Tata Sons and AI chairman N Chandrasekaran today – The Times of India
MUMBAI/ NEW DELHI: Air India’s mounting losses and operational issues are leading to serious concerns among both its parent groups. Goh Choon Phong, CEO of Singapore Airlines (SIA, which has a 25.1% stake in AI) is in Mumbai and is expected to meet Tata Sons and AI chairman N Chandrasekaran on Thursday.The meeting comes in the backdrop of AI scouting for a new CEO after the resignation of incumbent Campbell Wilson. The airline is also staring at a loss of over Rs 22,500 crore in FY 2026 and has sought fresh fund infusion from Tata and SIA. The Ahmedabad crash last June and the continued closure of Pakistan airspace since Operation Sindoor, followed by US-Iran war since Feb 28, made things worse for the already deep-in-losses Maharaja.AI did not comment on the likely losses for last fiscal and whether it has sought fund infusion from the promoters. While reviving AI, which spent its last few years as a PSU in abject penury till Tata acquired it along with AI Express on Jan 27, 2022, was never expected to be easy, the slow pace of change and mounting losses, have now put the strain on promoters.While SIA is seeing its profits decline due to AI losses, Tata Sons is under pressure over mounting losses of its new unlisted ventures, especially AI and Tata Digital. Addressing their concerns and sending a clear message to AI employees, Chandrasekaran had last week told them to “be precise on costs and remain grounded in the reality of the situation”.People in the know said Tatas knew turning around AI would be tough. That’s why they did not bid for the airline in 2018. The terms changed in 2021 in the second round and they successfully bid for it, with Ajay Singh of struggling-to-survive SpiceJet being the other bidder. “There is serious concern in SIA over both financial and reputational loss that AI is causing. Whether Thursday’s meeting between Choon Phong and Chandra is to decide on the new CEO or the hiccups AI is facing, will be discussed threadbare. There is also talk of SIA planning to pull out of AI but that seems unlikely,” said a person in the know.
Rachel Reeves has expanded plans to cut electricity bills for thousands of UK manufacturing firms as she continues talks in Washington focused on the economic fallout from the Iran conflict.
The Chancellor, who is in Washington for the International Monetary Fund (IMF) spring meetings, said the plan will help UK businesses compete and create jobs despite the uncertain economic backdrop.
During her trip, she has stepped up criticism of US-Israeli military action in Iran, saying war was a “mistake” and has not made the world a safer place.
Her comments came as she was due to meet US treasury secretary Scott Bessent, who has referred to the impact of the war as “short-term volatility for long-term gain” which he said would prevent Tehran developing a nuclear weapon.
Ms Reeves also cautioned against knee-jerk responses to the cost-of-living crisis triggered by the war in a joint statement with international counterparts at the IMF.
In a bid to help businesses hit by rising costs, a plan announced last summer to cut electricity bills by up to 25% for more than 7,000 UK businesses will be expanded to cover 10,000 firms.
The British Industrial Competitiveness Scheme (BICS) will cut costs by up to £40 per megawatt-hour from 2027 by exempting businesses from certain extra charges that currently support green energy and back-up power supply systems.
An additional one-off payment in 2027 will be given to an extra 3,000 businesses, including companies in the automotive, aerospace, steel and pharmaceuticals sectors.
The Government said it will also cover the support firms would have received if the BICS had been in place from this month.
The scheme is expected to be worth up to £600 million per year from next April.
Ms Reeves said: “This Government has the right plan for the economy: backing British industry, cutting electricity costs and building a stronger, more resilient future.
“Today’s announcement will cut energy bills for over 10,000 manufacturers, helping businesses to compete, win and create good jobs across the country, and to deliver our modern industrial strategy.”
Business Secretary Peter Kyle said: “We are a Government of action, and when global instability puts businesses under pressure we’ll always do what’s needed to support them and ensure Britain’s resilience.
“By extending the reach of BICS by 40%, we’re acting decisively to tackle the number one issue that businesses face head-on.”
Household energy bills are forecast to increase this year because of the conflict pushing up global oil and gas prices, while motorists are already feeling the impact of higher costs at the pump.
Ms Reeves has signalled that any energy bill help this year will be targeted at the poorest households, rather than a universal bailout of the type offered by Liz Truss when she was prime minister after the Russian invasion of Ukraine.
The White House has said talks are ongoing about holding fresh face-to-face negotiations between the US and Iran and that Washington had not yet formally requested an extension of the ceasefire due to expire next Tuesday.
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