It showed the availability of "Financiers" in the market—individuals who didn't trade stocks but provided the cash to settle trades in exchange for interest. The Rise and Fall: Why it was Banned
Following the securities scams of 1992 and 2001, the Securities and Exchange Board of India (SEBI) phased out the Badla system entirely by , replacing it with the standardized Futures and Options (F&O) segment. The Modern Equivalent index of badla
Today, we don't look at a "Badla Index." Instead, modern traders look at: To gauge market sentiment. It showed the availability of "Financiers" in the