<ul data-eligibleForWebStory="false"><li>Banking industry veteran Uday Kotak emphasized the market's primary role in promoting capital formation and fair price discovery.</li><li>Kotak expressed concerns about the influence of money power and the lack of focus on fundamentals in the business models of exchanges and brokerages.</li><li>His comments follow SEBI's findings of market manipulation by Jane Street, resulting in illegal gains of over Rs 4,800 crore.</li><li>SEBI suspended Jane Street for manipulating indices, impounding gains, and revealing profits of Rs 36,671 crore during the probe period.</li></ul>

After Jane Street, Uday Kotak Reminds Market's Primary Role Is Promoting Capital Formation

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