The Daily Brief SEBI Cracks Down on Front-Running
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Jan 29, 2025 The podcast dives into SEBI's crackdown on front-running, revealing how traders exploited confidential information for profit. A complex insider trading scheme involving two brothers sparks discussions about regulatory oversight. The spotlight then shifts to the banking sector, focusing on rising defaults in unsecured loans and microfinance challenges. There are insights on banks' deposit struggles amidst increased lending demands, reflecting a cautious approach to maintaining profitability. The episode wraps up with significant market and regulatory updates.
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Front-Running Family
- SEBI uncovered a front-running scheme involving two brothers, Ashish and Amit Kothari, their wives, and an inside dealer.
- They profited from a client's large trades by using insider information, earning ₹4.82 crore over five years.
Banking Sector Challenges
- Rising defaults in unsecured retail loans, especially microfinance, are causing stress in the banking sector.
- Banks are also facing challenges with deposits, as the shift from CASA to term deposits increases costs.
Market Tidbits
- Tata Steel's net profit declined by 36.37% due to low global steel prices.
- GSW will enter copper mining with a ₹2,600 crore contract for two Jharkhand blocks.