The Congress on Tuesday hit out on the SEBI and the federal government for not taking well timed motion towards US algorithm buying and selling agency Jane Avenue for “inventory market manipulation”.
Congress head of social media division Supriya Shrinate stated Jane Avenue had in 2024 admitted in a US courtroom it made $1 billion in India in 2023 from the Indian choices market by exploiting “inefficiencies”. “By 2024, that quantity grew to $2.3 billion, which was 11.2% of all the cash it made around the globe. However SEBI didn’t act on this info, it was solely in February 2025 that SEBI issued a light warning, a cautionary letter to Jane Avenue, warning towards its questionable buying and selling patterns. However the agency continued its manipulative trades until as late as Could 2025,” Shrinate stated.
Criticising SEBI, she stated its “report reveals that 93% of retail traders misplaced cash in derivatives buying and selling between FY2021 and FY2024”. “In FY2024 alone, 91.1% of merchants misplaced Rs 52,400 crore,” she stated. She stated as an alternative of defending small traders, SEBI turned a blind eye to “rampant fraudulent actions”.