BSE Regulatory Fee Ka Mamla Kya Hai?
“BSE Regulatory Fee Ka Mamla Kya Hai?
Recently, SEBI ne BSE ko ek letter bheja jiske baad ab BSE ko option contracts mai zyada regulatory fee bharna padega.
Aayie chaliye dekhte hain kya hai yeh mamla
SEBI ke letter ke hisaab se options contract mai, BSE apne annual turnover ko ‘premium value’ ke hisaab se calculate karke regulatory fee bharti hai, jabki unhe premium value par nahi balki ‘notional value’ par regulatory fee bharna chahiye tha….
Ab aap soch rahe honge ki isse kya hoga? Well, notional value, premium value se kaafi zyada hai..kyunki notional value mai contract size ko underlying price se multiply kia jaata hai…Notional price is stock price multiplied by lot size wahin premium turnover is from the option premium or option price.
Ab SEBI ne BSE se kaha hai ki jab se derivative contracts ki shuruwaat hui hai, tab se leke ab tak wo notional value aur premium value mai jo difference aa raha hai, woh bhaarein, aur saath mai ab tak ka uss differential amount par 15% p.a. interest bhi bharein. Iss amount ko bharne ke liye SEBI ne BSE ko 1 mahine ka time dia hai, from the date of the letter i.e. April 26.
Ab aap soch rahe honge ki yeh notice BSE ko kyun aaya NSE ko kyun nahi? Well, kyunki NSE notional value par hi pay kar rahi thi. Aur market regulator ne bhi BSE ko tab letter bheja jab NSE ne regulatory fee se leke clarification maanga.
Tab SEBI ko realize hua.
Ab iss naye regulatory fee se BSE par impact kya padega? Well news aate hi BSE ke stock 13% se zyada gira..kyunki BSE ko ab zyada regulatory fees bharne par acha khaasa balance sheet par asar padega.
Ab aap soch rae honge ki ye regulatory fee kya hai aur kya yeh justified hai?
Yeh regulatory fees saal 2006 se hai, aur yeh regulatory body ka annual fees hai, jo annual turnover ke basis par lia jaata hai..zaahir hai, agar ek party se SEBI ko zyada paisa mil raha hai, aur ek se kam toh who kam waale se bhi zyada waala hi formula lagaye..Ab regulator NSE se bhi premium value ke calculation ke hisab se le sakta tha fee, lekin unhone kya kia, BSE ko kaha notional value ke hisaab se de..Reason? notional value se unhe zyada income milega…
Yeh baat 2020 ke Corona kaal ki yaad dilate hai, jab almost sabhi small medium businessmen aur proprietor ko GST notice gaye, aur unse acha khasa amount demand kia gaya. Aksar jab government ke revenue sources dry yak am hone lagte hain, toh who koi na koi logic nikaali hai paise ka source bhadane ke liye.
Yahan bhi kuch waisa ho raha hai.
Aur interesting baat toh yeh hai ki kaise NSE alag fee de rahi thi, aur BSE alag. Kyun SEBI tab hi jaagi jab NSE ne clarification maanga regulatory fee se related?
SEBI aur sabhi government mai proper revenue generating measures hone chahiye taaki sab who system follow kar sakein, naa ki aisa system jahan jab chahe, jaise chahe government uth kar koi bhi fees demand karein…
Ab BSE ki toh halat kharab hogi, dekhna yeh hai ki BSE aur SEBI iss mamle ko kaise aage leke jaate hain.
