SEBI fined Reliance Securities Rs 7 lakh for not following stockbroker rules.
SEBI inspected Reliance Securities and found that the company provided wrong details in daily margin statements and reported incorrect ledger balances.
Reliance Securities failed to meet risk-based supervision guidelines and improperly passed upfront margin penalties to some clients.
SEBI imposed a fine of Rs 7 lakh on Reliance Securities for violating stock broking norms.