Y, a young person, has completed his bachelor's degree from the school of business management and feels strongly that he has adequate knowledge of finance and economics. Inspired by one of his school days friends, he is

Y, a young person, has completed his bachelor's degree from the school of business management and feels strongly that he has adequate knowledge of finance and economics. Inspired by one of his school days friends, he is also looking for a good career in IT industry. But, looking at his elder brother, who is working in the financial sector Y is also attracted towards him. Because, of the recent surge in capital market activities, fueled by mobile apps, technological advances and machine learning tools. After taking his family's advice, finally Y joined into a certification course in the technology related area, which he feels will help him in data analysis, trend analysis and related aspects. After all these qualification and subject knowledge, he finally decided to make his career in the financial and capital market related activities. But instead of taking employment and working under somebody else, he feels he has the potential and the dynamism to work on his own, build a clientele and make a good fortune. His family has a strong financial background; hence he did not find any problem to finance his new venture. But he being a self-respected person he wanted to start everything new of his own, even with his own funding. For this purpose, he has already discussed loan proposals with some of his nearby bank branches. These bankers are happy to lend him loan, because they knew his family background. Then he remembers that you as his college days' friend and you are a qualified Company Secretary and doing your own practice. Therefore, he came to you for your guidance, particularly to know about the following: What is the minimum net worth requirement that Y needs to have for starting the business of a stock broker as per the SEBI (Stock Brokers) Regulations, 1992?