SEBI, RBI, and global regulatory actions from major economies as of July 17, 2025:

SEBI – India
• Jane Street ban & freeze order: SEBI barred Jane Street from Indian markets, impounded approximately US $567 million, and froze its accounts over allegations of manipulating Bank Nifty index on options expiry days

• Bond Central launch: SEBI introduced “Bond Central” — a new centralized platform aimed at improving transparency, price discovery, and liquidity in India’s corporate bond market

• Derivatives surveillance enhancements: Introduced delta-based open-interest calculations, redefined market-wide position limits, and enhanced ban-period restrictions to curb manipulation

• Observation letter: Issued an observation letter on July 8 (e.g. to WeWork India and Studds Accessories, confirming their DRHPs clearing)

RBI – India
• Liquidity management operation: Conducted a ₹1 lakh crore Variable Rate Reverse Repo (VRRR) operation to absorb surplus liquidity as of June 27, maturing July 4

Federal Reserve – United States (Fed)
• Rates unchanged in July: The Fed held rates at 4.25%–4.50% in June and refrained from cuts in July, citing stickier core inflation (core PCE ~2.8%)

• Cut timing debated: Markets anticipate rate cuts in Sept–Dec, but officials (Powell, Barkin) are cautious; political pressure (from Trump) persists

• Policy outlook: Fed is data-dependent; bond holdings down from $9T to ~$6.4T, next meeting on July 29–30.

U.S. Federal Financial Regulators
• Fraud control reforms: Fed, OCC & FDIC issued an RFI to curb payments/check fraud and proposed easing reputational risk supervision for banks gibsondunn.com.

These measures highlight a concerted push globally toward market integrity, risk management, and careful monetary policy calibration. SEBI’s decisive actions, especially against Jane Street, underscore India’s commitment to protecting retail investors. Meanwhile, U.S. and Indian regulators are focused on financial stability amid evolving macro dynamics.