SEBI's new move to cut retailers participation in F&O!

[afin]

Guys..HOLD ON for some times..we are all discussing everything based on OWN assumption and perception. let them introduce rules, then we decide whether to challenge or change or accept.

we are discussing on the basis of the SEBI document and not OWN assumptions.

 

[NJ78]

I am beginning to wonder why on earth did I come back to this god forsaken country?? I should have stayed back where I was. Coming back to India was the greatest, monumental blunder I did. My sense of patriotism was foolish and misplaced. Nothing ever works here and the one that is working is just made to break. Shit!

For some strange yet logical reason, I can identify with you. Back in 2007, when I was looking for a job, no one locally (in India) would hire me. That's when I decided to tap the freelance market and ended up looking at the US. That led to a fruitful independent career that lasted well into 2015.

In the past few days, since this SEBI situation surfaced, I've began dusting off my old contacts and freelance accounts. Logged into my Paypal account, it's still active. Logged into my freelance account, also active. I'm preparing for the worst case scenario.

 

[afin]

For some strange yet logical reason, I can identify with you. Back in 2007, when I was looking for a job, no one locally (in India) would hire me. That's when I decided to tap the freelance market and ended up looking at the US. That led to a fruitful independent career that lasted well into 2015.

In the past few days, since this SEBI situation surfaced, I've began dusting off my old contacts and freelance accounts. Logged into my Paypal account, it's still active. Logged into my freelance account, also active. I'm preparing for the worst case scenario.

the problem in my case is that I can't go back. I am forced to be here and my avenues are highly limited. Its an extremely challenging scenario. My trading career was just taking off you know and this happens.

 

[headstrong007]

we are discussing on the basis of the SEBI document and not OWN assumptions.

Yes, members shared here the link of every SEBI document date wise. And various Business and Financial site reports shared here are also mentioned various quotes from such proposal published in SEBI website.
Anyone can go through it (SEBI proposals pdf).

 

[NJ78]

absolutely! The govt has only been resorting to lofty sloganeering like "make in india" and what not. It all comes to naught if they foolishly implement such sick and insane things.

That's correct. Let me give you a real life example (this is something I had posted in the tax subsection of this form as well) -- I have a younger relative who works in a real estate firm in Mumbai. His salary has not been paid in almost 8-9 months. When it does get paid, it's always in part. He has had to rely on the kindness of strangers and his boss' charity to get through EMIs. The company has been deducting TDS but hasn't yet paid it. As a result, his Form 26AS is blank. With salary getting delayed, so also is tax filing. And out of the blue comes the govt with a grand plan to levey a hefty penalty on late tax filing. It's been a frantic month for him, pleading with the company for his dues and also figuring out how to file his returns before 31 Aug.

 

[Smart_trade]

Guys we can discuss the new restrictions logically and decide how to fight it but this thread should not be used to demean our country.......

Smart_trade

 

[afin]

Guys we can discuss the new restrictions logically and decide how to fight it but this thread should not be used to demean our country.......

Smart_trade

I agree. I offer my apology for that. We still live in a democracy for starters and my life isn't in danger for discussing a contentious issue.

 

[headstrong007]

Frankly, speaking, Roti-Kapra-Makan is the first priority for any human beings.

Nationalism and Patriotism come naturally.
When India looks good, patriotism and nationalism do not need to be ordained by political leaders or anyone else.

 

[Tejas Khoday]

I agree. I offer my apology for that. We still live in a democracy for starters and my life isn't in danger for discussing a contentious issue.

Good thoughts!

 

[Tejas Khoday]

How many of you think that the worst is over in terms of such regulations which restrict retail traders' access to derivatives?

For all we know, the worst is behind us.