RBI bans three banks over circular trading

The Reserve Bank of India has barred three banks from proprietary trading in government bonds for six months after they were found to be involved in circular trading.

The Economic Times, an Indian newspaper, reported on Friday that Standard Chartered, Société Générale and Credit Agricole had been banned for six months after they were found to have been involved in circular trading, where securities are traded at artificially high prices. A spokeswoman for the Reserve Bank confirmed this to Centr

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