New Delhi, Feb. 23 -- The Securities and Exchange Board of India (Sebi) will look into representations by stockbrokers seeking a rethink of new norms issued by the Reserve Bank of India (RBI) that require banks to tighten funding to proprietary traders under capital market exposure rules.

Sebi chief Tuhin Kanta Pandey at an event on Monday, "We have received a representation. I saw it on Friday, and we will see we need to do on that because RBI had initially issued draft guidelines and sought their opinion, and many of them would have done it." He added, "There are three or four issues. So basically it is a battle with the Reserve Bank of India."

Mint reported on 19 February that the National Stock Exchange brokers' forum had approached...