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.
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.
- 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.
- 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.