Finance Current Affairs - 2020

Union Cabinet approves advancement of the Budget presentation

The Union Cabinet has given in principle approval for advancement of the date of Budget presentation from the last day of February to a suitable date. Besides in another reform relating to budgetary process, Union Cabinet has approved merger of Plan and Non Plan classification in Budget and Accounts. Advancement of the date of Budget Read More…

RBI suspended licence of seven non-banking finance companies (NBFCs)

On 17 August the Reserve Bank of India (RBI) suspends licence of seven non-banking finance companies (NBFCs). The seven NBFCs whose licences were suspended are – Religare Finance, Artisans Micro Finance, Eden Trade & Commerce, RCS Parivar Finance, Nott Investments, Dewra Stocks & Securities, Swetasree Finance. Being a dormant entity, Religare Finance licence was suspended Read More…

Pramerica Mutual Fund has acquired Deutsche MF business in India

Mutual Fund sector witnessed fifth exit of foreign fund house in two years from India on 7 August, as Pramerica Mutual Fund (MF) a company affiliated to US based Prudential Financial Inc. buys out German Deutsche Bank Group’s MF business in India for 400 crore rupees. Deutsche MF with 20,720 crore rupees assets under management Read More…

MIDC inks MoU with SIDBI to raise Rs 200-crore fund for MSMEs

Maharashtra Industrial Development Corporation (MIDC) has inked memorandum of understanding (MoU) with state-run Small Industries Development Bank of India (SIDBI) to provide easy finance to micro, small and medium enterprises (MSMEs) for their growth. The MoU was signed Ananta P Sarma, MD and CEO of SIDBI and MIDC CEO Bhushan Gagrani in the presence of Read More…

Ashu Suyash appointed as Managing Director and Chief Executive Officer of CRISIL

Ashu Suyash has been appointed as Managing Director (MD) and Chief Executive Officer (CEO) of Credit Rating Information Services of India Limited (CRISIL). She will succeed Roopa Kudva, who had been the MD & CEO at Crisil since 2007. Suyash’s appointment was confirmed by the Board of Directors of the Company and will assume charge Read More…