NSE asks brokers to return penalty charged to clients on shortfall of upfront margin; issues circular
On 20 July 2022, Zee Business was the first to report that after the suggestions made by the market Regulator Securities and Exchange Board of India (SEBI), NSE asked brokers to return the penalty amount taken by the brokers on upfront margin shortfall collection
For amount less than Rs 1 lakh, the penalty is 0.50 per cent. For amount over Rs 1 lakh, the penalty amount is 1 per cent. Source: Reuters