Here's a rundown of 11 significant news stories to keep you in the know:

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In a first, SEBI acts against finfluencer PR Sundar, options trader not allowed to trade for a year

In a first case of action against a finfluencer (financial influencer), market regulator Securities and Exchange Board of India (SEBI) on May 25 penalised and barred renowned youtuber and options trader PR Sundar from trading for a year over alleged violation of investment advisers norms.

(A financial influencer or 'FinFluencer', is a person who gives information and advice to investors on financial topics.)

In a case that dates back to 2022, finfluencer PR Sundar, his company Mansun Consulting, and co-promoter of the company Mangayarkarasi Sundar have settled with the SEBI complaints alleging they were providing investment advisory services without the requisite registration from the regulator.

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Depositing Rs 2,000 notes in bulk? Income Tax Dept may take action if..

The withdrawal of Rs 2,000 notes has caused confusion among the public regarding its tax implications. While there is a one-time limit of Rs 20,000 and no overall limit on cash deposits in bank accounts, tax experts say depositors should be aware of the Statement of Financial Transaction (SFT) rules.

Notably, citizens can exchange or deposit Rs 2,000 notes in banks, following the Reserve Bank of India's decision to withdraw them from circulation. The central bank has given the public time till September 30 to either deposit such notes in accounts or exchange them at banks.

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