Standard Chartered Bank Settles SEBI Case Over FPI Regulation Violations with Rs 57.2 Lakh Payment

Standard Chartered Bank has settled a case with the Securities and Exchange Board of India (SEBI) by paying Rs 57.2 lakh over alleged violations of foreign portfolio investor (FPI) regulations. SEBI cited delays in reporting material changes in beneficial ownership, processing investor grouping changes, and granting exemptions without ensuring compliance. The bank filed a settlement application without admitting or denying the findings, leading SEBI to dispose of the show-cause proceedings against it.