Finance: GK, General Studies and Current Affairs

11-member working group to go into concept of ‘Group Insolvency’ and suggest a suitable framework

The insolvency regulator Insolvency and Bankruptcy Board of India (IBBI) has set up a 11-member working group under the Chairmanship of former SEBI chief UK Sinha to go into the concept of ‘Group Insolvency’ and suggest a suitable framework. This Working Group has been tasked to submit a report — within two months and will ..

RBI appoints a 5-member committee headed by Nandan Nilekani to suggest ways to improve digital payments

The Reserve Bank of India (RBI) has appointed a 5-member committee headed by Nandan Nilekani to suggest ways to improve digital payments. The committee will review the existing status of digitisation of payments in the country, identify the current gaps in the ecosystem and suggest ways to bridge them and assess the current levels of ..

SEBI allows custodial services in commodity market

Markets regulator Securities and Exchange Board of India (SEBI) has recently allowed custodial services in the commodity derivatives market. Under the new framework, existing custodians will be permitted to add commodities as an asset class and provide physical delivery of both the securities and commodities. Currently, the regulation on the custodian of securities provides safekeeping ..

HDFC Mutual Fund becomes India’s largest Asset Management Company

HDFC Mutual Fund has surpassed ICICI Prudential MF to become the India’s largest Asset Management Company (AMC). As per the latest data available with Association of Mutual funds in India (Amfi), HDFC MF manages assets worth Rs 3.35 lakh crore, while ICICI Prudential MF stood at Rs 3.08 lakh crore as of December 2018. MFs ..

West Bengal government launches Krishak Bandhu scheme to address farmers distress

The West Bengal government has launched Krishak Bandhu scheme to provide financial assistance to farmers and landless labourers. The state government will give an annual financial assistance (cash dole) of Rs 5,000 per acre in two instalments – one during kharif and another during rabi – for a single crop. Farmers can take the financial ..