By IANS Dec 17, 2019 7:47:08 AM IST (Published)
The regulator would take steps to avoid a situation like the recent developments when Karvy Stock Broking pledged Rs 2,300 crore securities of over 95,000 clients with HDFC Bank, ICICI Bank, Bajaj Finance and IndusInd Bank as collateral to raise money.
Capital markets regulator Securities and Exchange Board of India (SEBI) would take further steps to avoid issues like the recent development involving Karvy Stock Broking, said a top regulator official.
"We have taken some steps and will take more steps," said SEBI Chairman Ajay Tyagi on Monday.
The regulator had taken prompt action regarding regulatory issues arising from companies and broking firms, he said on the sidelines of an event.