The Securities and Exchange Board of India (Sebi) has increased its oversight on the board composition of market infrastructure institutions (MIIs), which include stock exchanges, clearing corporations and depository firms. Sebi’s scrutiny comes after the shareholder directors of the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) left after lengthy tenures.
Separately, depository firms National Securities Depository (NSDL) and the Central Depository Services India (CDSL) have had new shareholder directors this year. The regulator has strict norms dictating ...
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