Sebi clarified that clients under the non-discretionary portfolio management services (ND-PMS) framework can pledge securities for their own benefit. This is permissible as clients retain beneficial ownership and full control, ensuring it is not construed as borrowing by the portfolio manager.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend