Current Affairs Today - Current Affairs 2017

हिंदी करंट अफेयर्स प्रश्नोत्तरी 2017 के लिए यहाँ क्लिक करें.

Haryana government announces yoga guru Ramdev its brand ambassador

Haryana government has announced yoga guru Ramdev as its brand ambassador.

By appointing the yoga guru as its brand ambassador state aims to promote yoga and Ayurveda in the state.

It was announced by Haryana’s minister of sports and health Anil Vij.

In order to promote ayurveda in a big way, state government is planning to to develop a first ever herbal forest with over 25,000 plants over 1,000 acres of land in the state.

State government also plan to open “Vyayamshalas” and “Yogshalas” in 6,500 villages and cities of Haryana.

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SEBI notifies stringent insider trading norms

The Securities and Exchange Board of India (SEBI) has notified stringent revamped rules related to the Insider trading.

Insider trading refers to the trade of a company’s stocks or other securities and making unethical profits with access to the non-public information. This is detrimental to the other / small investors who don’t have such information.

In this regard market regulator has issued SEBI (Prohibition of Insider Trading) Regulations, 2015. Thus, revamping nearly two-decade old regulations on insider trading.

The key facts about new rules are as follows:

  • It highlights greater clarity on concepts and definitions along with a stronger legal and enforcement framework for prevention of insider trading.
  • The new rules has expanded the definition of insider. It says that that anyone who is in contractual, fiduciary or employment relations with the promoters will be presumed to be ‘insiders’. Thus, the new rules include the immediate relatives of promotes, directors and employees who are in possession or have access to such information, within the scope of insiders.
  • The new rules make it mandatory that the perpetual insiders such as promoters and directors will have to disclose their future trading plan in advance to the stock exchanges. They are required to trade strictly as per that plan in order to protect the interest of investors
  • The definition of the unpublished price sensitive information (UPSI) has been broadened. Earlier, it has reference to only to company but now, it will have reference to company as well as securities.

Background

The rules have been prepared after taking into consideration recommendations of Sodhi panel and other panel recommendations.

It should be noted that a panel headed by former Justice N K Sodhi (former Chief Justice of Karnataka and Kerala High Courts) had submitted its report on insider trading norms in December 2013.

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