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SEBI’s clampdown on Bharat Global Developers Ltd has laid bare the dubious ways in which some stock market operators make money at the expense of unsuspecting public investors of little-known companies.

While the regulator’s interim order alleges massive irregularities, the long arc of unfinished probes, hearings and appeals makes closure distant.
As growth in equities cools, asset managers are looking to embed themselves in payrolls, payments, and credit. This raises their influence, but also the stakes.
With competition in the segment intensifying, the chief business development officer of India’s largest exchange unpacks the bourse’s strategy going forward.