Market infrastructure institutions (MIIs) Subject: Economy Context: The Securities and Exchange Board of India sought public comments on a report submitted by one of its working committees on strengthening the governance of market infrastructure institutions (MIIs). Details: In April, the market regulator formed a committee under G. Mahalingam to strengthen governance norms at […]
ATI bond case-SAT Subject: Economy Context: The Securities Appellate Tribunal (SAT) has granted the Securities and Exchange Board of India (Sebi) three weeks to file its response in a case related to its order on mis-selling additional tier-1 (AT1) bonds. Concept AT1 bonds AT-1 bonds are a type of unsecured, perpetual bonds that […]
Why India buying Russian oil? Subject: Economy Context: In FY22, India bought around 2.4% of its overall oil imports in volume terms from Russia which was just 1.7% in FY21. Causes: Rise in oil prices post Ukraine War With oil prices going up, more dollars are needed to buy oil. This increases the […]
Export transaction in rupee eligible for sops Subject: Economy Context: Exporters settling trade in rupee terms will now be able to access export incentives or duty rebates. Details: Earlier incentives to exporters like– duty drawbacks, export promotion capital goods (EPCG) incentives, and advance authorization scheme were available only if payments or export realization […]
European Market Infrastructure Regulation (EMIR) Subject: Economy Context: The European Securities and Markets Authority (ESMA) proposes to derecognize six Indian counterparty clearing corporations CCPs due to non-compliance with certain provisions of the European Market Infrastructure Regulation. Details: It means that European banks will not be able to clear or settle trades in foreign […]
Market infrastructure institutions (MIIs). Subject: Economy Context: The Securities and Exchange Board of India sought public comments on a report submitted by one of its working committees on strengthening the governance of market infrastructure institutions (MIIs). Details: In April, the market regulator formed a committee under G. Mahalingam to strengthen governance norms at […]
Compulsory convertible preferred shares (CCPS) & equity shares Subject: Economy Context: IRDAI has rejected a proposal to convert a company’s holdings in compulsory convertible preferred shares (CCPS) into equity shares. Details: In June 2022, Digit Insurance and Fairfax Financial Holdings applied to the IRDAI for approval to convert the company’s holdings in compulsory […]
Sovereign Green Bond Framework Subject: Economy Context: The Centre has released the framework for its proposed sovereign Green Bonds. Details: An independent and Norway-based second-party opinion (SPO) provider CICERO has rated India’s green bonds framework as ‘Medium Green’ with a “Good” governance score. The payment of principal and interest on the Green Bonds […]