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New Delhi, Jan 12 (PTI) Capital markets regulator Sebi on Friday said a framework will be put in place by April 1, allowing trading members to offer the facility of voluntarily blocking online access of trading accounts for clients displaying suspicious activities. The framework will be laid down by Brokers' Industry Standards Forum (ISF) in collaboration with stock exchanges and Sebi, the regulator said in a circular. Also Read | Who Are Houthis? Everything About Rebel Group That Sparked US and UK Strikes Amid Red Sea Crisis. The framework will include guidelines on the detailed policy for voluntarily freezing or blocking a client's online trading account. It will prescribe communication methods for clients to request such blocking, the issuance of acknowledgment upon message receipt, and the timeframe for processing the request and blocking the trading account. Also Read | Mumbai Trans Harbour Link Special: From Speed Limit to Toll Prices, Here's All About India's Longest Sea Bridge Set to Be Inaugurated by PM Narendra Modi on January 12. Further, Sebi said that action will be taken by the trading member following the receipt of a request for freezing/blocking of the trading account and the process for re-enabling the client for trading. The stock broking industry in India has moved from a call-and-trade type of scenario to online mode, wherein the investors use the login IDs and passwords provided to them by the trading members. "It has been observed that at times, suspicious activities are noticed by investors, but the facility of blocking of accounts is not available with the majority of trading members," the Securities and Exchange Board of India (Sebi) said. Many times, investors raise issues of suspicious activities in their trading accounts and thus, there is an urgent need to address the situation of having a facility for blocking trading accounts as it is available for blocking ATM cards and credit cards, it added. A similar facility of voluntary blocking/ freezing of demat accounts is already available for investors and this facility would now be offered to the investors for their trading accounts also. "To enhance ease of doing business and ease of investment, it has been decided that the framework for trading members to provide the facility of voluntary freezing/blocking the online access of the trading account to their clients on account of suspicious activities shall be laid down on or before April 1, 2024, by the ISF," Sebi said. Further, the regulator asked stock exchanges to ensure that the guidelines issued under the framework are implemented by trading members from July 1, 2024. In a separate circular, Sebi asked stock exchanges to put in place a mechanism for monitoring clients' funds lying with the stock brokers. This will be based on the principle that the total available funds -- cash and cash equivalent -- with the stock broker and with the clearing corporation/clearing member should always be equal to or greater than clients' funds as per the ledger balance. This came after Sebi received representations from various stakeholders citing inefficiencies due to duplication of monitoring mechanisms and difficulties in uploading data to exchanges.

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13.01.24 05:28

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World News | Molasses Makers in Nepal Under Pressure Due to Short Preparation Wi...

Kathmandu [Nepal], January 13 (ANI): Restless hands, boiling lumps of sugar, and its aroma always linger in the air around the ancient city of Tokha these days, as it has been the sole supplier of the molasses locally called "Chaku" for years. Workers preparing molasses this year are under pressure to maintain the supply of enough "Chaku" in the market, as they had relatively less time to prepare and dispatch it to the market. Demand for the confectionary has already risen in the market with the arrival of Maghe Sankranti, the festival of Chaku. Also Read | Japan: Crack Found on Cockpit Window of ANA Boeing 737-800 Aircraft Mid-Air, Plane Safely Lands at Sapporo-New Chitose Airport. Buddha Shrestha, an entrepreneur at Tokha, told ANI, "Demands for Chaku (molasses) are rising year by year. The season is quite short this year, because of which we fear that we won't be able to tap into the supply as per demand. We are making efforts to pump on enough produce for the market but we are not able to supply enough amount of Chaku as per the demand of the market." Shrestha added that the production of Chaku in the ancient town started late by about 10 days this year in comparison to the previous ones. Also Read | UK Shocker: Mother, Her Ex-Partner Kill 18-Month-Old Boy in 'Cruel and Brutal' Attack, Jailed For Life. "In previous years we used to start producing Chaku in high volume from mid-November but this year we started late from the first week of December. The demand of Chaku increases when the Newa: a community of Kathmandu Valley devour themselves celebrating Yo:mari Punhi and the festival as per the lunar calendar started late which gave us a window of 19 days to prepare enough Chaku for the Maghe Sakranti. In the earlier years we used to have about a month to prepare and supply enough to the market but this year the season is short which has resulted in low supply," Shrestha explained. The Newa, a community of Kathmandu valley consume a high volume of Chaku- confectionery made from concentrated sugarcane juice, jaggery, ghee and nuts which holds significance on the Maghe Sankranti- the first day of the 10th month as per the Lunar calendar. This process involves melting jaggery, stirring it continuously and then cooling it in clay pots. It is then whipped, slapped, and stretched until it turns dark brown. The confectionery is then weighed, topped with nuts, and packaged. The whole process takes two to three hours. "Consuming Chaku would regulate body temperature. It increases warmth in a person's body as well as plays a role in producing milk for breastfeeding. Women can take benefit through its consumption," Rahul Shrestha, another entrepreneur briefed about its major health benefit. As many as 1100 grams of sugar lumps, 'Bheli', are needed to prepare one kilogram of molasses and the producers only can make a profit of Rs 15-20 through the sales. The business of making molasses is seasonal and functions full-fledged for 2 months in a year. The rest of the time entrepreneurs...