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Business News/ Market / Stock-market-news/  Sebi notifies depositories to credit 5% of profits to IPF
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Sebi notifies depositories to credit 5% of profits to IPF

Sebi notified that every depository has to credit 5% of its profits from depository operations every year to the Investor Protection Fund

Photo: Abhiit Bhatlekar/MintPremium
Photo: Abhiit Bhatlekar/Mint

Mumbai: The capital markets regulator on Thursday notified through a gazette that every depository has to credit 5% of its profits from depository operations every year to the Investor Protection Fund, for promotion of investors’ awareness.

The Securities and Exchange Board of India in its 30 November board meeting had cleared this proposal, following a recommendation by a the report of an expert committee on clearing corporations under the chairmanship of K.V. Kamath.

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ABOUT THE AUTHOR
Anirudh Laskar
Anirudh reports on significant corporate matters including large mergers and acquisitions, India's emerging e-commerce sector and regulatory issues in the corporate and financial services industry. Over the past 17 years, he has covered many beats including banking, NBFCs, aviation, automobile, insurance, markets, SEBI, IRDAI, mutual funds, investment banking, private equity, deals, and conglomerates.
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Published: 21 Jan 2016, 11:15 PM IST
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