GK & Current Affairs!

CURRENT AFFAIRS - BUSINESS & ECONOMY Fair Market Conduct | 02-Aug-2017 16:53
  • SEBI has constituted a committee headed by T K Viswanathan on ‘fair market conduct’.
  • The committee has been tasked with suggesting improvements to the existing SEBI norms, fraudulent and unfair trade practices (FUTP).
  • It has been specifically asked to look at handling of price-sensitive information during takeovers and aligning of insider-trading rules with provisions of the Companies Act.

SEBI:

 Securities and Exchange Board of India,a statutory body, regulates India’s capital markets. Sebi, which was established in 1988, got statutory backing in 1992 through the SEBI Act, 1992.

Composition:

  • The chairman who is nominated by Union Government of India.
  • Two members, i.e., Officers from Union Finance Ministry.
  • One member from the Reserve Bank of India.
  • The remaining five members are nominated by Union Government of India. Out of them at least three shall be whole-time members.

Functions:

  • Approve by−laws of stock exchanges.
  • Require the stock exchange to amend their by−laws.
  • Inspect the books of accounts and call for periodical returns from recognized stock exchanges.
  • Inspect the books of accounts of financial intermediaries.
  • Compel certain companies to list their shares in one or more stock exchanges.
  • Register brokers.

 

Flipkart Buys eBay India | 11-Apr-2017 18:31
          India's largest e-commerce player Flipkart buys eBay's India business, and closing a $1.4 billion fund-raising round from Tencent, eBay and Microsoft. 
 
      In exchange for an equity stake in Flipkart, eBay has agreed to make a $500 million cash investment in and sell its eBay.in business to Flipkart. 




Paytm, The first e-commerce company to become ASCI member | 31-Mar-2017 15:34

               The country’s fast-growing e-commerce industry Paytm is all set to become a member of the self-regulatory voluntary organization Advertising Standards Council of India (ASCI) from April, 2017. The move is significant because advertising violations by e-commerce companies, which are big spenders on television, print and digital media, have been on the rise in recent years.

                The Alibaba-backed Paytm has also set up a new company named Paytm Financial Services, which will sell financial products like insurance and mutual funds to its planned payments bank account holders.