MUMBAI: Shri. Suresh Menon: A Distinguished Regulator with Three Decades of Service to India’s Securities Market. Shri. Menon is a stalwart in India’s financial regulatory landscape who recently marked the culmination of a distinguished 30-year career with the Securities and Exchange Board of India (SEBI), retiring in June 2022 as Chief General Manager.

Over three decades at SEBI, Shri. Menon rose through the ranks — from Manager to Chief General Manager — contributing across core operational departments, including Secondary Market Regulation, Market Intermediary Supervision, Investigations, and Regional Administration.

As a pioneering figure in the early regulation of India’s securities market, Shri. Menon played a pivotal role in the registration and supervision of the initial cadre of stockbrokers and stock exchanges. His team conducted crucial inspections of major exchanges, including BSE, Madras Stock Exchange, Cochin Stock Exchange, and others, laying the foundation for today’s modern, demutualized markets. His leadership extended to major policy initiatives and enforcement actions. As head of SEBI’s Investigation Department, He led inquiries into high-profile cases of market manipulation, insider trading, front running, and violations of PFUTP, LODR, and corporate governance norms.

During his five-year tenure as Regional Director of SEBI’s Southern Regional Office in Chennai, Shri. Menon oversaw the entire spectrum of securities regulation in the southern states. He also served for seven years as a Quasi-Judicial Officer, passing over 500 orders on critical regulatory matters, reinforcing SEBI’s mandate for transparency and investor protection.

In another key role, he also led the Market Intermediary Supervision and Policy Department, framing policies and overseeing the regulation of stockbrokers, depository participants, merchant bankers, credit rating agencies, and debenture trustees. His contribution to the clearance of over 500 IPO prospectuses highlights his role in capital market development. Shri. Suresh Menon’s career is a testament to integrity, regulatory foresight, and unwavering commitment to the development and stability of India’s financial markets.

The post Suresh Menon Appointed as Public Interest Director at NSE International Exchange appeared first on NRI News.

INDIA: With gold prices at an all-time high, Tanishq, India’s largest jewelry retail brand from the House of Tata, presents its ‘Tanishq Gold Exchange Program’, offering customers an unparalleled opportunity to maximize the value of their gold. Whether it’s tiny, forgotten fragments tucked away in a locker or heirloom pieces collected over generations, Tanishq welcomes every piece—no matter how small—and transforms them into jewelry that reflects today’s aspirations. At the heart of Tanishq’s Gold Exchange Program lies the Tanishq Exchange Advantage, built on 100% Transparency, Zero Deduction, and the Best Gold Rate Available.

This initiative is designed for those who see jewelry not just as an ornament but as an evolving expression of their style and milestones. Brides-to-be can now exchange decades of accumulated gold for breath-taking wedding jewellery, crafted with Tanishq’s craftsmanship and unique designs. Customers can also exchange their old gold for natural diamonds, elevating their collections with rare and timeless brilliance. With no deductions on 22K and above for pure gold and 21K and above for studded jewelry, customers benefit from a seamless and honest process, reinforced by on-the-spot Karatmeter testing and melting for complete accuracy.

The Tanishq Gold Exchange Program, valid across all Tanishq stores, comes at a pivotal time when customers are planning their gold purchases for the wedding season and festive occasions. Whether it is a bride-to-be looking to transform family heirlooms into bespoke bridal jewelry, a smart investor seeking the best value, a trend-conscious shopper upgrading to contemporary designs, or a connoisseur of craftsmanship in search of timeless elegance, this initiative caters to every need. Even the most delicate or outdated gold pieces can be repurposed into contemporary, everyday elegance, proving that no piece is ever too small to hold value. With a legacy of trust and craftsmanship, Tanishq has already helped over 1 lakh brides create their dream wedding jewelry and facilitated the exchange of 1,70,000 kg of old gold nationwide. As part of the Festival of Exchange, this program is more than just an offer—it’s an invitation to reimagine, reinvent, and celebrate jewelry in a way that resonates with today’s aspirations. Now is the time to unlock the true potential of your gold, no matter how small, and give it a new life with Tanishq.

Speaking on the initiative, Arun Narayan, VP, of Category, Retail and Marketing, Tanishq, Titan Company Ltd, said “In times like these, when gold prices are scaling new heights and wedding budgets need careful planning, Tanishq’s Old Gold Exchange program has been a beacon of joy for families across India. Over 1 lakh brides have sparkled on their special day in Tanishq’s wedding trousseau by simply exchanging old gold—of any condition, bought from any jeweler. Every Tanishq boutique is equipped with skilled karigars, advanced equipment, and a transparent purity check and melting process, ensuring you get the best value for your old gold. Exchange it for the dazzling wedding jewelry you’ve always dreamed of. Walk into any of our 500 stores to turn your old gold into new jewelry for your dream wedding!”

The post Tanishq’s Innovative Gold Exchange Offer in a High-Price Market appeared first on NRI News.

MUMBAI: Kia India, one of the fastest-growing premium carmakers in the country, launched the ‘Exchange Your Car’ service under its CPO domain, making car exchanges easier for its customers. The online self-evaluation module enables customers to know the suggestive price of their existing car, empowering them to make an informed decision while exchanging their vehicle.

To avail of this service, customers can click on ‘Exchange your Car’ under the “Buy” section on the brand’s website (www.kia.com/in) and enter the basic details of their vehicle, including its make, model, variant, manufacturing year, and kilometers driven. The customer can get a suggestive (approximate) price for the vehicle from the convenience of their home. The service also aims to speed up the initial phase of the car exchange process, allowing customers to move forward confidently.

Commenting on the module, Myung-Sik Sohn Chief Sales Officer, Kia India, Said, “At Kia India, customer experience is at the heart of everything we do. Our new feature simplifies the car exchange process, enhancing convenience and strengthening our connection with customers. This innovation not only expands our market reach but also builds trusted relationships with potential buyers. We’re committed to continually improving our services, ensuring a seamless and satisfying experience for all, and giving you confidence in our future.”

With this launch, Kia India aims to introduce transparency and ease of operation in the car-switching process. This move aligns perfectly with the company’s efforts to provide the best-in-class services to existing and potential customers. It will also enhance customer engagement and help maintain Kia’s position as a trusted car manufacturer in the country.

The post Kia Launches ‘Exchange Your Car’ Online Evaluation Service appeared first on NRI News.

MUMBAI: The Indian Gas Exchange (IGX) traded 4.92 million MMBtu (~124 MMSCM) gas volume in May’24, higher by 99% MoM & 480% on a YoY basis. Trade volumes were high mainly due to an increase in gas demand from gas-based power plants amid hot weather and directives from the government to maximize their output to address the growing electricity demand.

 A total of 96 trades were executed in May’24. During the month, 32 trades (maximum number) were executed in Monthly contracts, followed by 29 trades in Daily contracts and 19 trades in Weekly contracts, other contracts were Fortnightly, Weekday & Day-Ahead.

The most active delivery point for free market gas was Dahej & KG Basin for Ceiling Price gas, other trading delivery points were Hazira, Ankot, Suvali & Mhaskal.

During the month, the Exchange traded gas deliveries were 3.47 million MMBtu (~3 MMSCMD).

GIXI (Gas Index of India) for May 2024 was Rs 851/$10.2 per MMBtu, higher by 13% last month. GIXI-South was Rs. 786/$9.4 per MMBtu and GIXI-West Rs 901/$10.8 per MMBtu.  Different spot gas benchmark prices recorded were: HH at ~$2.1/MMBtu, TTF at ~$10 /MMBtu, whereas LNG benchmark indices were: WIM at ~11.3 $/MMBtu.

The total Domestic ceiling price category gas traded during the month was 0.20 million MMBtu at ceiling price (₹823/MMBtu) at KG Basin delivery.

IGX currently offers delivery-based trade in six different contracts such as Day-Ahead, Daily, Weekday, Weekly, Fortnightly, and Monthly, under which the trade can be executed for six consecutive months.

The gas trade takes place at multiple delivery points, such as – Dahej, Hazira, Ankot, Mhaskal, Bhadhbhut, Dabhol, KG Basin, Gadimoga, and Suvali. It covers six regional gas hubs, namely, Western Hub, Southern Hub, Eastern Hub, Central Hub, Northern Hub, and North Eastern Hub across India.

Note: The delivered volumes price excludes domestic ceiling price gas traded at ceiling price.

The post Indian Gas Exchange (IGX) Traded 4.92 Million MMBtu (~124 MMSCM) Gas Volume In May’24 appeared first on NRI News.

Commenting on the report, Rajagopal Menon, Vice President, WazirX said, “At WazirX, we are dedicated to protecting users while fostering innovation in India’s VDA ecosystem. Our latest transparency report is indicative of this ethos. Through proactive collaboration with regulators, law enforcement agencies, industry bodies, and other stakeholders, we are paving the way for positive regulations that can unlock the transformative potential of blockchain and crypto technologies across sectors. In the months to come, we will continue establishing robust security protocols, engaging with policymakers to build an appropriate regulatory framework, and promoting crypto literacy.”

Key Highlights from the Report:

• Trading volume saw an increase of 217% compared to the previous six months
• New user registrations grew by 122%
• March 2024 witnessed the highest trading volume of over $400M, whereas December 2023 saw the highest sign-up rates
• WazirX added 16 new tokens and 30 new trading pairs to its offerings
• Prioritizing customer satisfaction, WazirX’s dedicated customer support team addressed more than 158,900 inquiries during the reporting period
• The company responded to 1,700 requests from Indian and foreign law enforcement agencies, maintaining a 100% compliance rate
• A swift Turnaround Time of 22 minutes for responding to Law Enforcement Requests
• The company also trained officials from the Joint Cyber Crime Coordination Teams (JCCT) Northeast, Assam Police and I4C MHA on the security aspects of crypto
• As a member of the Bharat Web3 Association, WazirX contributed to policy discussions to encourage the adoption of Web3 and blockchain technologies
• Participated in the International Startup Summit
• WazirX collaborated with TaxNodes and GoSats, empowering the youth at IIT Bombay’s Techfest through a focused workshop on Crypto Trading
• Also collaborated with TOKEN and HTX DAO for conducting Learn and Earn campaigns

As the crypto exchange ecosystem continues to evolve, WazirX remains committed to ensuring a safe and transparent trading environment for its rapidly growing user base.

The full transparency report can be accessed through this link: https://wazirx.com/blog/wp-content/uploads/2024/04/WazirX-Transparency-Report-Edition-6.pdf

The post Leading Crypto Exchange WazirX Releases Bi-Annual Transparency Report Highlighting Growth And Compliance Focus appeared first on NRI News.

PUNE: India’s first and fast-growing electric motorcycle manufacturer, Tork Motors has partnered with CredR for the first-of-its-kind offer for an electric two-wheeler. Under this partnership, customers will be able to exchange their old two-wheelers on CredR’s platform to buy brand-new KRATOS, offering best-in-class solutions with transparency, genuineness, and accuracy. CredR will evaluate the exchange vehicle as per their proprietary inspection on  120+ checkpoints to derive the best-selling value. The exchange value will be discounted from KRATOS’ buying price. The customer will have to pay only the differential amount to own the KRATOS or KRATOS-R.

Tork Motors launched its flagship product – KRATOS and KRATOS-R in January, this year. The KRATOS® is priced at INR 1,22,499 [ex-showroom after subsidy in Maharashtra] and is available in white color only. The KRATOS®-R is priced at INR 1,37,499 [ex-showroom after subsidy in Maharashtra]; and comes in four color options white, blue, red, and black. Consumers can book KRATOS and KRATOS-R by visiting the company’s official website at www.booking.torkmotors.com  

Commenting on the partnership, Kapil Shelke, Founder and CEO of Tork Motors said, “This of its kind proposition is designed especially for Tork Motors’ customers to own their dream electric motorcycle – KRATOS. The collaboration is intended to offer easy accessibility and solution for a cleaner and better mode of transport, along with an element of convivial riding. With CredR, we aim to reach out to a wider consumer base, who are looking to upgrade their current two-wheeler, through a better price proposition. We will continue to partner with key players in the industry to ensure that the electric motorcycles segment is accessible and transcends to larger geographies in the country.”

Sasidhar Nandigam, Co-founder and CEO of CredR, said, “Motorcycle segment is one of the key sectors of the overall automotive Industry. While electric motorcycles are gaining momentum in the rapidly growing EV sector, it has been our endeavor to offer easy access to one of the best electric motorcycle brands in the country. This customer-centric affiliation offers hassle-free accessibility to owning the Tork KRATOS, with a simple process. This will also help bring in the paradigm shift in the electric motorcycle market of the overall EV space in India.”

Tork Motors is the first electric motorcycle brand to enter this unique partnership offering access to its made-in-India KRATOS to enthusiasts. The collaboration will provide a hassle-free exchange of their used vehicles at the nearest Tork Motors dealership. Post handing over their vehicle, the customers will be able to buy the KRATOS.

The post TORK MOTORS PARTNERS WITH CREDR TO FACILITATE THE EXCHANGE OF USED TWO-WHEELERS WHILE BUYING KRATOS appeared first on NRI News.