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

08 Aug

Concerns about Sulphur Dioxide

'Recently, the government decided to scale back its 2015 mandate requiring coal-based thermal plants to install flue gas desulphurisation (FGD) devices (clean-air equipment) that r

Read More

08 Aug

Prime Minister Internship Scheme

'Based on the review of the two pilot phases carried out for the PM Internship Scheme (PMIS), the Ministry of Corporate Affairs is planning to undertake certain tweaks in the schem

Read More

08 Aug

Are the Rohingya ‘refugees’?

'The Supreme Court will decide whether the Rohingya in India “are entitled to be declared as ‘refugees’” or whether they are “illegal entrants”.

Read More

India’s First Ai-Driven Magazine Generator

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