
Jane Street saga: Rahul Gandhi targets Modi govt over SEBI's crackdown, says investors are being pushed to brink of ruin
Rahul Gandhi, Leader of Opposition in Lok Sabha, launched a scathing attack on Prime Minister Narendra Modi-led government on Monday over recent Sebi's explosive crackdown on American hedge fund Jane Street that has sent tremors through India's Rs 6.2 lakh crore capital market infrastructure"I clearly stated in 2024 - the F&O market has become a playground for 'big players,' and small investors' pockets are continuously being drained. Now SEBI itself is admitting that Jane Street manipulated thousands of crores. Why did SEBI remain silent for so long? At whose behest was the Modi government sitting with its eyes closed? And how many more big sharks are still shorting retail investors? In every case, it's clear - the Modi government is making the rich richer and pushing ordinary investors to the brink of ruin," said Rahul Gandhi in a post on X.
— RahulGandhi (@RahulGandhi)
What is the Jane Street controversy?
Jane Street is a well-known proprietary trading firm based in the US, active in more than 45 countries. SEBI recently accused the firm of manipulating stock and index prices in India to benefit its options trades. According to SEBI, Jane Street made huge profits by first buying stocks to push prices up and then selling them off later in the day to make money from falling prices in the options segment. The regulator has frozen over Rs 4,800 crore in profits linked to these trades and banned Jane Street and its India arm from participating in the market. SEBI has also frozen their bank and demat accounts as part of an ongoing investigation.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)

Business Standard
28 minutes ago
- Business Standard
IIT Madras to launch Rs 200 crore VC Fund, target next-gen unicorns
IIT Madras announces the launch of a Rs 200 crore VC fund to nurture startups and target next-gen unicorns. The fund will focus on Series-A and pre-Series A investments in IITM-incubated companies Shine Jacob Chennai Listen to This Article Indian Institute of Technology Madras (IIT Madras) is set to catalyse the launch of a Rs 200 crore Venture Capital fund, called the IIT Alumni Fund, targeting the next generation of unicorns. With the number of startups emerging from IIT Madras increasing exponentially in recent years, the institute anticipates several more unicorns in the future and seeks to nurture these startups through careful investments that will help them scale. The IITM Alumni Fund will focus on Series-A and pre-Series-A investments. It will be a legally separate entity from the institute, created to focus on the growth of IITM


India.com
37 minutes ago
- India.com
Noida Airport Sets New Launch Timeline: Domestic Flights From Sept 15, Full Rollout By November 2025 After Delays
Noida International Airport Jewar: Noida International Airport is now set to begin domestic flights and cargo operations in September 2025, with international services expected to follow by November 2025. The announcement was made by Uttar Pradesh Industrial Development Minister Nand Gopal Gupta Nandi. This marks the third delay in the airport's scheduled launch since its foundation stone was laid in November 2021 — will be completed by November this year. However, the airport was first expected to be completed by September 2024. However, the deadline was moved to April 2025, and then delayed again to May–June due to incomplete work on the terminal building. In March, Chief Minister Yogi Adityanath set new targets — May 15 for starting domestic flights and June 25 for international operations. Jewar Airport's Phases Costs The Noida airport in Jewar is being built in four phases with an investment of Rs 29,650 crore. The first phase, costing Rs 10,056 crore, is designed to cater to 12 million passengers annually. It will have one runway and one terminal building. By the fourth phase, the airport is expected to become operational in 2040. The airport will have the capacity to handle 70 million passengers annually. Second Major Commercial Airport Once finished, the 1,334-hectare Noida airport will be the second major commercial airport in the National Capital Region, after Delhi's Indira Gandhi International Airport. Right now, the only other functioning airport in the NCR is Hindon Airport in Ghaziabad, which runs a few commercial flights under the control of the Indian Air Force.


Time of India
37 minutes ago
- Time of India
US trade threat: Donald Trump warns Brics nations of 10% tariff hike; bloc slams US trade policies
US President Donald Trump on Monday threatened to impose an additional 10% import tariff on China, India, and other Brics nations after the 11-member grouping criticised his trade policies during their summit in Brazil. 'Any Country aligning themselves with the Anti-American policies of Brics, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy,' Trump said in a post on social media. His remarks came after Brics leaders denounced the US tariff regime as 'indiscriminate', 'damaging', and 'illegal' in their joint statement on Sunday. The Brics bloc — which includes China, India, Brazil, Russia, South Africa, Saudi Arabia, the UAE, Egypt, Ethiopia, Iran, and Indonesia — accounts for nearly half the world's population and about 40% of global economic output. Once envisioned as a forum for fast-growing emerging markets, the expanded Brics now brings together both US adversaries such as Iran and Russia, and Washington's allies, including Saudi Arabia and Indonesia. While some US-aligned members sought to moderate the criticism by avoiding Trump's name in the joint declaration, it did little to placate the White House. Saudi Arabia, a key buyer of US weapons, went so far as to withdraw its foreign minister from Sunday's session and the official Brics 'family photo', AFP reported. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 Top Trending local enterprise accounting software [Click Here] Esseps Learn More Undo Tariff pressure mounts ahead of August 1 Trump's renewed tariff threat comes ahead of an August 1 deadline, by which the administration has demanded new trade deals from global partners or face sweeping unilateral duties. The Brics nations now appear likely to be targeted for steeper penalties. The latest backlash also follows a Brics statement condemning US and Israeli airstrikes on Iran's nuclear infrastructure — a move seen as bolstering member state Iran amid rising Middle East tensions. China defends Brics stance China rejected accusations that the Brics platform was hostile to the United States. 'China has repeatedly stated its position that trade and tariff wars have no winners, and protectionism offers no way forward,' said foreign ministry spokesperson Mao Ning in a briefing on Monday. 'Brics is not targeted at any country,' Mao added, calling the bloc an 'important platform for cooperation between emerging markets and developing countries.' The summit's momentum appeared weakened by the absence of key leaders. Chinese President Xi Jinping, who has never missed a Brics summit in 12 years, skipped this year's event. Russian President Vladimir Putin, wanted by the International Criminal Court over the Ukraine war, joined via video link. Despite the diplomatic strain, Putin told Brics counterparts the group has become a 'key player in global governance', underlining its growing geopolitical weight. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now