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Context:

• Indian Securities Tribunal ordered the NSE to pay the ₹1-billion ($12.3 million) penalty for system lapses but set aside a disgorgement of nearly ₹11 billion rupees for illegal gains levied by the Securities and Exchange Board of India (SEBI).

About NSE:

• The National Stock Exchange of India Limited (NSE) is India's largest financial market and the fourth largest market in the world by trading volume.
• National Stock Exchange was incorporated in the year 1992 to bring about transparency in the Indian equity markets.
• National Stock Exchange of India Limited was the first exchange in India to provide modern, fully automated electronic trading.
• Headquartered in Mumbai, the National Stock Exchange of India Limited (NSE) conducts transactions in the wholesale debt, equity, and derivative markets.
• It allows for new listings, initial public offers (IPOs), debt issuances and Indian Depository Receipts (IDRs) by overseas companies raising capital in India.
• S&P CNX Nifty is the benchmark index introduced by NSE.
• Some of its other indices are CNX Nifty Junior, India VX, S&P CNX Defty, S&P CNX 500, etc.
• The exchange offers clearing and settlement services through its wholly-owned unit, the National Securities Clearing Corporation set up in 1995.

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