Banking Awareness 7th February 2017 | Financial Affairs 7th February 2017.

 

1. Sebi board to discuss NSE ‘unfair access’ issue

• The market regulator will take up the issue of alleged unfair access at National Stock Exchange (NSE) at its board meeting on 4th Feb 2017.
• SEBI added that the market regulator may only take action if it is established the exchange or any broker made monetary gains by virtue of alleged preferential access.

2. Ministries, sectoral regulators to screen FDI proposals

The applications on foreign direct investment (FDI) in India in sectors under the approval route considered by the inter-ministerial Foreign Investment Promotion Board (FIPB) will soon be taken up by the concerned ministries and sectoral regulators, according to Commerce and Industry Minister Nirmala Sitharaman.

3. Public sector does the rescue act

• More recently, National Thermal Power Corporation agreed to take over Rajasthan government’s Chhabra thermal power plant in an equity-for-asset deal.
• Thus, ONGC announced in December that it will buy Gujarat State Petroleum Corporation’s 80 per cent stake in the Deen Dayal Upadhyay  West field and six other finds in the KG Basin for $1.2 billion.

4. Bank of Maharashtra ties up with Cigna TTK

• “We are glad to have Cigna TTK as our health insurance partner, and our coming together will help us in not only offering a wide range of products.
• But also help us enhance customer satisfaction and deliver increased value to our customers,” Bank of Maharashtra’s Managing Director and CEO Ravindra Marathe said.

5. Axis Bank ties up with Earthport

India’s third largest private bank, Axis BankBSE -0.26 %, has tied up with Earthport Plc, a cross-border payment network, to enable faster outbound cross-border payments for its customers through Earthport’s state-of-the-art global payments network.

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