Business, Economy & Banking Current Affairs - 2020

Business, Economy and Banking in Current Affairs 2019 with latest news and current affairs in Agriculture, Industry, Banking, Capital Markets, Import and Export and Government schemes in commercial sector.

Virat Kohli appointed as brand ambassador of BSF

Screenshot_2The Border Security Force has appointed Indian cricketer Virat Kohli as its brand ambassador. It is important to note that any central force in India has appointed its brand ambassador. BSF is the second largest paramilitary force of India that guards two crucial Indian borders with Pakistan and Bangladesh.

Virat Kohli has been roped in for strengthen the appeal of 2.5 lakh personnel strong BSF.

About the Border Security Force (BSF)

Established on December 1, 1965, the Border Security Force (BSF) is a border patrol force of the Government of India. BSF come under the flank of the Paramilitary Forces of India (PMF) and its main role is to guard India’s international borders during peacetime as well as prevent transnational crime. The BSF is under the administrative control of the Ministry of Home Affairs. Besides ensuring the border security, BSF also has the responsibility of conducting the anti-Naxal operations in India as well as playing roles in upkeep of the internal security.

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Investment through P-Notes hits 3-month high of $26 billion

As per share market regulator SEBI, investments into Indian shares through participatory notes (P-Notes), hit a three-month high of Rs 1.65 lakh crore (about $26 billion) in August 2013.

What are Participatory Notes?

Participatory Notes or P-notes are derivative instruments, used by Foreign Institutional Investors (FIIs) who are NOT registered with SEBI. The major characteristics of P-notes are:

  1. They are derivative instruments
  2. They are used by Foreign Institutional Investors (FIIs) who are NOT registered with SEBI.
  3. They are used on Indian shares, but at a location outside of India.

This means that the FIIs who are not registered with SEBI but wish to take exposure in the Indian securities markets can use P-notes. P-Notes, mostly used by overseas HNIs (High Networth Individuals), hedge funds and other foreign institutions, allow them to invest in Indian markets through registered Foreign Institutional Investors (FIIs), while saving on time and costs associated with direct registrations. Brokers buy or sell securities on behalf of their clients on their proprietary account and issue such notes in favor of such foreign investors.

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