The Reserve Bank of India (RBI) Friday came out with guidelines to prevent misuse of price-sensitive information by participants in markets for financial instruments.
“Market participants, either acting independently or incollusion, shall not undertake any action with the intention to manipulate thecalculation of a benchmark rate or a reference rate,” the RBI said in anotification.
Also, no market participant would carry out a transaction or initiate any action with the sole or dominant intention of influencing a benchmark rate or a reference rate.