Committee Current Affairs - 2020
The Reserve Bank of India recently released draft framework for “Sale of Loan Exposures” and “Securitization of Standard Assets”.
The guidelines issued are applicable to Scheduled Commercial Banks. This includes All India Financial Institutions such as EXIM Bank, NABARD, Non-Banking Financial Companies. The guidelines have also included recommendations of Committee on Development of Housing Finance Securitization Market in India that was chaired by Dr Harsh Vardhan. Also, the guidelines included the recommendations made by the Task Force set up on the Development of Secondary Market for Corporate Loans. Both the Committee and the Task Force were set up by the Reserve Bank of India.
Key Features of the Guidelines
- The Guidelines has proposed Two Capital Measurement approach. This includes Securitisation External Ratings based approach and Securitisation Standardised Approach.
- Simple Transparent Comparable Securitisation has been prescribed to define preferential capital treatment.
- The new guidelines allowed Securitisation of exposures that are purchased from other lenders
- The Stressed Assets under the new guidelines shall be sold only through novation and assignment.
Tags: Committee • Dr Harsh Vardhan • EXIM Bank • Financial Institutions • NABARD
On June 2, 2020, the Bimal Julka Committee on Rationalization of Film Media operating under Ministry of Information and Broadcasting submitted its report to the ministry.
Key Findings of the report
The Committee recommended roadmaps for the development of National Film Development Corporation, Children’s Film Society of India, Films division, Satyajit Ray Film and Television Institute, National Film Archives of India, etc. The Committee recommended a Memorandum of Understanding to be signed between the Ministry and these institutes streamlining the performances of the institutes.
The committee has suggested for an umbrella configuration with four broad verticals under which the institutes should work. This includes festival, production, heritage and knowledge. The verticals are to be headed by the professionals.
The committee has also recommended creation of film promotion funds. The funds will be used to fund independent film makers to make commercial films.
The committee has suggested measures to improve revenue generation and make institutions financially self-sufficient. Price Indices have been suggested to be linked to user charges.