Editors Take: SEBI Bans Brokers From Creating Bank Guarantees On Clients Funds

The Securities and Exchange Board of India (Sebi) has put a stop to the practice of brokers creating bank guarantees using client funds. It said on Tuesday that such practices will be barred from May 1 and all existing bank guarantees have to be terminated by September 30. What does it mean for brokers and clients? Know from Anil Singhvi.