BANKING & FINANCE News 16th Jan 2017

By: D.K Choudhary
SEBI Lowers Broker Fees by 25 Percent to Rs 15 Per Transaction
i. The SEBI Board on January 14, 2017 announced its decision to reduce the fees payable by broker by 25 percent as a part of calibration of various other fees collected by the regulator from different market intermediaries.
ii. It has decided to lower the fees from Rs 20 per crore of turnover to Rs 15 per crore of turnover to reduce the overall cost of transaction.
iii. The SEBI Board has also decided to give an option to all market intermediaries and companies to make their regulatory payments in digital mode to help in speedy and easy transactions and reduce failures due to payment gateway issues.
iv. Besides, the board has also approved a proposal to levy certain new charges, including filing fee for draft scheme of arrangements and processing fee on application for relaxation in certain regulations.
Securities and Exchange Board of India (SEBI)
♦ The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India.
♦ Formed: 12 April 1992
♦ Headquarters: Mumbai, Maharashtra
♦ Chairman: U K Sinha
NPCI declares Rs 54.90 crore prize money for NITI Aayog’s lucky draw schemes
i. National Payments Corporation of India (NPCI) has declared Rs 54.90 crore prize money to over 3.42 lakh winners for NITI Aayog’s lucky draw schemes Lucky Grahak Yojna (LGY) and Digi-Dhan Vyapar Yojna (DVY).
ii. There are 15,000 daily winners qualifying for total prize money of Rs. 1.5 crore and over 14,000 weekly winners qualifying for total prize money of over Rs. 8.3 crore every week. It will run till April 14, 2017
iii. Maharashtra, Andhra Pradesh, Tamil Nadu, Uttar Pradesh and Karnataka emerged as the top five states with maximum number of winners under the age group of 21 to 30 years.
♦ National Payments Corporation of India (NPCI) is an umbrella organization for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA).
♦ Chairman: Balachandran M
♦ Headquarters‎: ‎Mumbai, Maharashtra
♦ Founded‎: ‎2008
BSNL Launches Aadhar Based e-KYC Project
i .BSNL has launched its Customer Acquisition and Customer Communication Management (CACMS) project that aims to digitalize business process to ensure faster service, accurate customer responses and customer satisfaction.
ii. The project provides an Aadhar based e-KYC (Know Your Customer) service for immediate activation of new mobile connections across the country.
iii. The state-run telecom has selected Intense Technologies to deliver the CACMS project on a Pan India basis for all lines of business of BSNL as per the terms and conditions of the tender.
iv. Under the project the customers will have the convenience of Aadhar based fast and efficient utilization of services by BSNL. Foreign national with e-visa can also use the facility very quickly. The new service will enable greater efficiency in complying with TRAI regulations, enhanced customer experience and reduce costs.
v. The scope of the CACMS project includes the launch of pan India rollout of trans-promotional communications, loyalty management and contextual digital marketing to ensure seamless customer experience.
vi. CACMS project will help BSNL build competitive advantage by delivering superior customer experience to win customer loyalty.
Bharat Sanchar Nigam Limited (BSNL)
♦ Bharat Sanchar Nigam Limited is an Indian state-owned telecommunications company. BSNL is one of the largest & leading public sector units providing comprehensive range of telecom services in India.
♦ CEO: Shri Anupam Shrivastava
♦ Headquarters: New Delhi
♦ Founded: 15 September 2000

About D.K Chaudhary

Polityadda the Vision does not only “train” candidates for the Civil Services, it makes them effective members of a Knowledge Community. Polityadda the Vision enrolls candidates possessing the necessary potential to compete at the Civil Services Examination. It organizes them in the form of a fraternity striving to achieve success in the Civil Services Exam. Content Publish By D.K. Chaudhary

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