SEBI bans Karvy from taking new clients for misusing their funds for proprietary trading

The market regulator, the Securities and Exchange Board of India (SEBI) has banned Karvy Stock Broking Ltd (KSBL) for defaulting client money worth Rs 2,000 crore with immediate effect. KSBL has now been barred from taking on new clients and executing trades for existing customers. This write up has been summed up in form of FAQs to understand the issue in a simplified way.

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