Banks will have to take a call and then come to the regulator with a road map on what they want to do: official.
Exchanges cite non-compliance with market rules.
The local unit gathered strength anticipating further easing in key rates to boost the slowing economy.
The 30-share BSE gauge closed marginally higher by 8.36 points or 0.02 per cent at 40,802.17.
Positive opening in domestic equities supported the rupee and restricted the fall.
The 30-share index was trading 81.65 points, or 0.20 per cent, higher at 40,875.46.
Investors will be closely monitoring foreign fund flows, crude movement and the rupee.
On Friday, the government data showed GDP growth for the second quarter has slowed down to a 26 quarter low of 4.5 per cent.
Karvy had said that Sebi’s November 22 interim order that barred it from using PoA was hurting its more than 2,000 clients.
The move will bring trust back to the gold industry, benefiting consumers and trade alike.