Sebi plans AI-based surveillance of inactive firms

What happened: Sebi chairman Tuhin Kanta Pandey said the regulator is working to delist listed companies with no economic activity and plans AI-based surveillance of such firms. Key numbers: Foreign portfolio investors withdrew a net $31.4 billion from Indian equities in the first 10 months of the year. Penny stocks are often priced below Rs 10 or Rs 20. Why it matters: Pandey said inactive listed firms pose a potential danger to investors and create scope for market manipulation. Sebi will also issue a consultation paper on aligning FII norms with global standards.

Sebi chairman Tuhin Kanta Pandey said the regulator is working to delist listed companies with no economic activity and plans AI-based surveillance of such firms.

Pandey said inactive listed firms pose a potential danger to investors and create scope for market manipulation. Sebi will also issue a consultation paper on aligning FII norms with global standards.