Brokers to pay penalty for not collecting margins

The Securities and Exchange Board of India (Sebi) has asked stock exchanges to penalise brokers for short collection or non-collection of margins in the equity derivatives segments. The regulator’s move is aimed at resisting payment crises in the wake of high volatility recently. Despite a decline of over 10 per cent in the benchmark equity indices — Sensex of the Bombay Stock Exchange and S&P CNX Nifty of the National Stock Exchange — there has been no payment crisis in the stock markets. One reason for this is that there are no high margins

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