This is a draconion measure by SEBI and we should protest against them for trying to protect illiterate small traders at the expense of literate small traders. If SEBI is so compassionate, than why not reduce lot size?
Protest, file PIL.
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yes we should raise voice against this
yes there should be …i am in
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EVERYBODY PLEASE SEND your TWEETS to @SEBI_india.
@SEBI_India : Stop income based discrimination ! Dont restrict small traders.
@SEBI_India : Do you think only poor people speculate ?
@SEBI_India : Dont become super nanny to small traders.
@SEBI_India : Placing income restrictions on small traders is undemocratic.
@SEBI_India : SEBI basing its decision on a person being poor or rich is undemocratic/overzealous regulation.
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Plz paste a tweet template
Easier. To. Ask. Ppl. To copy paste
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Also I think barely 2 to 3% Indians are trading how can we expect Nationwide protest for this?
nationwide protest means those 2 to 3 % traders only …that’s is also a huge number
Instead of protesting, it is better one gets used to it at the earliest.
If they r mentioning exposure limit, obviously IT dept wud come into picture soon. Similar to Banking Credit score, they might come up with something. Once the new ITRs r updated for filing in the coming FY, it might become clear. Let’s hope everything turns out fr gud.
Ajay Tyagi, SEBI chairman - “Individual investors may freely take exposure in the market (cash and derivatives) up to a computed limit based on their disclosed income under their Income Tax Return (ITR) over a period of time. For exposure beyond the computed limit, the intermediary would be required to undertake rigorous due diligence and take appropriate documentation from the investor,” the release said.
Brokers protest Sebi decision to make them responsible for retail product suitability.
@RohitJain the brokers are protesting what about us the retails. We should also protest
@SurajM brother thats the problem we get used to things very easily …SEBI is acting like that typical indian parent who want his kid to do engineering even if he likes commece/arts or anything else
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@SurajM Is it even democratic to discriminate based on income/wealth ? And why are you suggesting to get used to this unfairness ? If the aim is to reduce speculation in Indian markets then let them come up with a rule applicable on all equally. Even we hope for everything to turn for good for everybody.
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Sebi is not objecting one to pursue trading, it is just setting entry exposure limit. After tht it is between u & broker with due diligence fr further exposure. If one’s exposure limit becomes Zero as per ITR, it is left between the client & broker fr further due-diligence to move forward.
@p699 As somebody has also pointed out, there is no use in trying to misinterpret fr the sake of argument using the word ‘democratic’, ‘discriminate’ etc.
@SurajM I will agree with this explanation. But if there is a strict restriction based on income then that is definitely …
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please place your orders with me.
Thank you.
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We should tag them in twitter and find many twitters to retweet…so that it catches SEBI’s attention