Page-41 of Economy & Banking Current Affairs

Creditor-led Insolvency Resolution Mechanism

May 9, 2023

The Creditor-led Insolvency Resolution Mechanism is a newly proposed mechanism that aims to reduce delays in the resolution process, which have escalated under the current system, causing legal challenges and a shortage of NCLT benches. As per the Insolvency and ..

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SEBI’s Testing Framework for IT Systems of Market Infrastructure Institutions (MIIs)

May 6, 2023

SEBI, India’s regulatory body, has introduced a new framework for testing the IT systems used by market infrastructure institutions (MIIs), including stock exchanges, clearing corporations, and depositories. The objective of the framework is to assist MIIs in performing thorough risk ..

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ESMA’s Derecognition of 6 Indian CCPs

May 4, 2023

European Securities and Markets Authority (ESMA), the European Union’s financial markets regulator and supervisor, has derecognized six Indian central counterparties (CCPs) from April 30, 2023, due to no cooperation arrangements between ESMA and Indian regulators. Derecognition of Indian CCPs EMIR ..

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SEBI introduces the Legal Entity Identifier (LEI) System

May 4, 2023

The Securities and Exchange Board of India (SEBI) has introduced the Legal Entity Identifier (LEI) system for issuers that have listed or are planning to list non-convertible securities, securitized debt instruments, and security receipts. The LEI is a unique global ..

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Company Limited by Guarantee

May 1, 2023

The YREF, a company limited by guarantee, received a subsidy of Rs 2 crore through the National Dairy Development Board (NDDB). The organization is purportedly operated by Sanjay Prakash Rai Sherpuria, who was detained on charges of deceiving individuals and ..

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Tea Mosquito Bug Infestation

April 20, 2023

India is the world’s second-largest tea producer after China. However, the tea industry in India has been facing a major setback due to the infestation of tea mosquito bugs. These pests, which are a type of mirid bug, feed on ..

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Mission 50K-EV4ECO

April 15, 2023

SIDBI has recently launched the pilot version of the Mission 50K-EV4ECO to promote the growth and development of value chain of India’s electric vehicle industry. It is expected to promote EV adoption and strengthen associated infrastructure in the country. Mission ..

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MPC’s First Bi-Monthly Monetary Policy of FY2023-24

April 10, 2023

The Reserve Bank of India’s (RBI’s) Monetary Policy Committee (MPC) recently announced the first bi-monthly monetary policy of FY2023-24. RBI Governor Shaktikanta Das revealed that the MPC has unanimously decided to keep the repo rate unchanged at 6.50%. This key ..

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