India’s market regulator SEBI has discovered a scheme led by former stockbroker Ketan Parekh to profit from confidential trade information of Capital Group. Parekh used WhatsApp groups to share the trade details, enabling others to profit before the trades were made. SEBI has restricted those involved from trading and ordered the return of illegal profits.
ATM withdrawals make SBI richer, other PSBs poorer
State Bank of India earned Rs 331 crore from ATM cash withdrawals in 2023-24, while other state-owned banks collectively lost Rs 925 crore. SBI dominates