Sign In
Learn bits
Economy
Mahesh

09/04/22 13:15 PM IST

Cabinet approves bilateral MoU between SEBI and FRC, Mongolia

In News 
  • The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the proposal for signing a bilateral Memorandum of Understanding (MoU) between Securities and Exchange Board of India (SEBI) and Financial Regulatory Commission, Mongolia (FRC).
Benefits of MoU 
  • The proposed bilateral MoU would, in addition to contributing towards strengthening the information sharing framework leading to effective enforcement of securities laws, also help in establishing a technical assistance programme.
  • The technical assistance programme would benefit the Authorities by way of consultations on matters relating to capital markets, capacity building activities and training programmes for the staff.
About SEBI 
  • The Securities and Exchange Board of India (SEBI) was established under the Securities and Exchange Board of India Act, 1992 to regulate the securities markets in India.
  • The objectives of the SEBI are to protect the interest of the investors and to regulate and promote development of securities markets in India. 
About FRC 
  • Established in 2006, the Financial Regulatory Commission (FRC) is a parliamentary authority mandated to supervise and regulate the non-bank sector; including the insurance and securities markets, and participants of the microfinance sector.
  • The FRC is responsible for providing stable and sound financial markets.
  • The Commission exercises power over non-bank financial institutions, insurance companies and intermediaries, securities firms, and savings and credit cooperatives. 
Source- PIB 

More Related Current Affairs View All

17 Sep

Reasons Behind the heavy rain in Uttarakhand, Himachal

'Dehradun and several other districts in Uttarakhand have experienced very heavy rainfall over the past few days, triggering landslides in multiple areas and causing rivers to swel

Read More

08 Sep

Rajasthan’s coaching centre Bill

'The Rajasthan Coaching Centres (Control and Regulation) Bill, 2025, is a significant piece of legislation passed by the Rajasthan Assembly to regulate and oversee the state's burg

Read More

28 Aug

IADT-1

'Recently, the Indian Space Research Organisation (ISRO) successfully carried out its first Integrated Air Drop Test (IADT-1), a crucial milestone in the preparation for the countr

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps