The Hindu Editorial Analysis : 1st March 2023

01/03/2023

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The Hindu Editorial Analysis

The Importance of Reading The Hindu Editorial: Reading The Hindu newspaper has several benefits, including improving reading skills, facilitating comprehension, staying informed of current events, enhancing essay writing, and more. For individuals aiming for a career in banking, reading editorials is crucial for vocabulary building. In this article, we will examine today’s editorials, provide practice questions, and highlight important vocabulary words.

Bans manager.

Markets regulator sebi on Tuesday banned 21 entities, including viresh Joshi a former fund manager with axis mutual fund, from the securities market because of their role in front running trades of the fund house.
Initial investigations by sebi showed that these 21 entities were led by Joshi ,who went by the nickname ‘jadugar’ among some of his conduits and had made illegal gains amounting to over 30 crore.
Front running is a process through which relatively smaller investors,based on advanced information ,trade in stocks ahead of some large investors and thus make illicit gains
Sebi rules bar all types of front- running.
In the 96 pages ordered by Sebi’s all- time member SK mohanty.
It was revealed that at present several parallel investigators in the same case are also continuing .
In July 2022,even the income tax department had raided Joshi’s residence and had recovered some incriminating documents.
Joshi has since been terminated by Axis MF.
Between September 2021 and March 2022 Joshi ,as Axis MF’s chief dealer, worked from his home as well as from a single person cabin at funds house office.
During this period he arranged with other people to buy the same stocks that the fund house bought in large chunks.
Since the private trades arranged by Joshi were executed ahead of those by the fund house,they were bought at a lower price.
Soon after,as the stocks were bought on behalf of the fund house the price went up and the private trade was reversed to make a profit.