Current Affairs Today - Current Affairs 2017

हिंदी करंट अफेयर्स प्रश्नोत्तरी 2017 के लिए यहाँ क्लिक करें.

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SEBI eases rules for angel funds

The Securities and Exchange Board of India (SEBI) has liberalised norms for angel investors to invest in early-stage entities.

In this regard, SEBI in its meeting decided to amend the SEBI (Alternative Investment Funds) Regulations, 2012.

This decision was taken based on the recommendations received from the NR Narayana Murthy Alternative Investment Policy Advisory Committee.

Decisions taken by SEBI

  • Increased the upper limit for number of angel investors in a scheme from 49 to 200.
  • Angel Funds will also be allowed to invest in start-ups incorporated within 5 years instead of the earlier norm of 3 years.
  • The requirement of minimum investment amount by an angel fund in any venture capital undertaking has been reduced to Rs. 25 lakh from earlier Rs. 50 lakh.
  • The lock-in requirements of investment made by angel funds in the venture capital undertaking has been reduced to one year from three years.
  • Such funds also have been allowed to invest in overseas venture capital undertakings. It will be up to 25% of their investible corpus in line with other Alternative Investment Funds (AIFs).

Benefits

  • This move was taken as part of its attempts to facilitate fund-raising for start-ups and help to boost investment in the early stages for start-ups in the country.
  • It will benefit start-ups looking for raising venture funding not just for the money but for the other value addition.
  • It will help start-ups raising money from a venture capital firm brings such as direction and mentorship from seasoned investors.

What is an Angel Investor?

Angel investors invest in small startups or entrepreneurs. These investors are often among an entrepreneur’s family and friends. The capital provided by angel investors to these startups may be a one-time investment to help them to propel their business or it may ongoing injection of money to support and carry starup through its difficult early stages.

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Airtel launches India’s first Payments Bank service in Rajasthan

Airtel Payments Bank Limited or Airtel Bank became the first payments bank in the country to launch live banking services in Rajasthan.

The pilot phase of the Airtel bank launched in Rajasthan aims at testing systems and processes ahead of a full scale pan Indian launch.

Key Facts

  • Airtel Payments Bank is a subsidiary of Bharti Airtel Limited. Mahindra Bank holds 19.9% stake in it.
  • Airtel retail outlets across Rajasthan will act as banking points. They offer a range of basic, convenient banking services as per Payments Bank guidelines issued by RBI.
  • Customers can open bank accounts by using Aadhaar based e-KYC. Airtel subscriber’s mobile number will function as a bank account number.
  • The bank will accept deposits not exceeding Rs 1 lakh. It cannot perform lending activities, except while giving loans to its employees on approval of the board.
  • It intends to give an interest rate of 7.25% per annum on deposits in savings accounts.
  • It will be offering customers the convenience of cashless purchase of goods/services using their bank accounts/wallets, contributing to of financial inclusion and banking for all.
  • Though payment banks are allowed to issue debit card facility, but Airtel Payments Bank will be not offering this facility right now.

Background

In August 2015, RBI had had given in-principle approval to 11 applicants to set up payments bank by February 2017. So far, out of these 11 applicants, Tech Mahindra Ltd, Cholamandalam Investment and Finance Co, and billionaire Dilip Shanghvi have opted out.

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China successfully launches fourth data satellite Tianlian I-04

China has successfully launched its fourth data satellite named Tianlian I-04. The satellite will join its three predecessors to achieve global network operation.

The satellite was launched on board of Long March-3C carrier rocket from the Xichang Satellite Launch Centre in southwest Sichuan province.

Key Facts

  • Tianlian I-04 has been developed by the China Academy of Space Technology under the China Aerospace Science and Technology Corporation.
  • The satellite seeks to achieve global network operation that will provide data relay, measurement and control services for its manned spacecraft.
  • The network will also offer data relay services for the country’s medium- and low-Earth orbiting resources satellites, control support and measurement for spacecraft launches.

Background

  • Tianlian I and CTDRS-1 is a Chinese data tracking and relay communications satellite series. Functionally, it is similar to US Tracking and Data Relay Satellite System.
  • China had launched its first data relay satellite the Tianlian I-01, in April 2008.The second and third relay satellite was launched in July 2011 and July 2012 respectively.

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