The government is likely to pause issuing new Sovereign Gold Bonds (SGBs) due to high costs and economic concerns. The last tranche was in February 2023, raising ₹27,031 crore. SGB redemptions have surged with gold prices doubling since 2016. Reduced import duties on gold and rising government payouts for redemptions are key factors behind this decision.
The ED is investigating wealthy individuals for using offshore India-focused funds under the Liberalised Remittance Scheme (LRS) to indirectly invest in Indian stocks, violating FEMA rules. This method is used to externalize investments, benefit from currency gains, or avoid taxes. Violators face penalties up to three times the invested amount and forfeiture of profits.
SEBI proposed making market intermediaries and Market Infrastructure Institutions (MIIs) responsible for AI tool outputs, addressing both benefits and risks in its November 13 consultation paper. SEBI highlighted AI’s potential for improving financial decision-making and efficiency but emphasized the need to protect investor privacy. Public comments on the proposal are open until November 28.
SEBI has proposed doubling the net worth requirement for custodians from ₹50 crore to ₹100 crore, citing their expanding role and increased operational risks. The consultation paper, released on November 13, also suggests new regulations on competition practices, business continuity plans, and a framework for orderly winding down. Comments are open until November 28.
SEBI’s consultation paper proposes allowing only accredited investors in angel funds, requiring third-party verification of net worth. Key changes include lowering the minimum investment to ₹10 lakh, raising the maximum to ₹25 crore, and removing the 25% diversification cap. The paper also questions whether angel funds should remain under SEBI’s AIF regulations. Public comments are open until November 28.