Business & Economy Current Affairs 2017

Latest Business & Indian Economy Current Affairs 2017 for UPSC Exams, Bank Exams, Civil Services, SSC and other Competitive Exams. Latest developments in Business and Finance Industry of India and world 2017 all important national updates in Banks and events for the year 2017.

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SEBI inks pact with ESMA for information exchange on CCPs

Markets regulator Securities and Exchange Board of India (SEBI) has entered into a Memorandum of Understanding (MoU) with the European Securities and Markets Authority (ESMA).

The MoU was signed for exchange of information concerning Central Counterparties (CCPs) under the European Markets Infrastructure Regulation (EMIR). CCPs are entities that help facilitate clearing and settlement activities.

Key Facts

The MoU establishes cooperation arrangements, including exchange of information regarding CCPs which are established and authorised or recognised in India by SEBI and which have applied for EU recognition under EMIR.

EMIR provides for signing of a cooperation arrangement between ESMA and relevant non-EU authorities, whose legal and supervisory framework for CCPs have been deemed equivalent to EMIR by the European Commission. Signing of MoU is one of the conditions for recognition of third country CCPs by ESMA under EMIR.

About Central Counterparty (CCP)

CCP is a corporate entity that exists in various European countries to help facilitate trading done in European derivatives and equities markets. It reduces counterparty, operational, settlement, market, legal and default risk for traders. It provides efficiency and stability to the financial markets in which they operate. CCP bear most of the credit risk of buyers and sellers when clearing and settling market transactions.

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Reliance Industries market capitalisation hits Rs 5 lakh crore mark

Mukesh Ambani-led Reliance Industries Limited (RIL) for the first time in its trading history has crossed Rs 5 lakh crore in market capitalisation. The market cap of RIL stood at Rs 5,04,458.09 on BSE (Bombay Stock Exchange.

RIL is second firm to cross Rs 5 lakh crore in market capitalisation. It is also RIL’s highest market cap in its lifetime and also currently it is the most valued company on the bourses.

Tata Consultancy Service (TCS) was first company to hit Rs 5 lakh crore in market capitalisation milestone in July 2014. Later in November 2014, its market capitalisation had surged to 5.43 lakh crore. Now, it is the second most valuable company in terms of market-capitalisation.

About Reliance Industries Limited (RIL)

RIL is an Indian conglomerate engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications. It is the third most profitable company in India. It is the second largest company in India in terms of revenue after the government-controlled Indian Oil Corporation (IOC). It was ranked 215th on the Fortune Global 500 list of the world’s biggest corporations as of 2016. It was also ranked 8th among the Top 250 Global Energy Companies by Platts as of 2016.

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