 "brokers, market, sebi, regulator")
The recent economic pain, compounded by Covid-19, has left a string of brokerages unable to meet their obligations. The National Stock Exchange has declared 15 brokers as defaulters since September 2019. The BSE has 14 defaulters, with most being common to both exchanges.
The total number of such defaults between September 2019 and September 2020 is almost higher than the sum of the previous 10 years’ defaults on the BSE. It exceeds the sum of all brokerage defaults on the NSE over around the previous 15 years.
Some recent defaulters were Modex International Securities, Vineet Securities, Grovalue Securities, Quantum Global Securities, Wellindia
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