Podcast Beta
Questions and Answers
Which organization collaborated with Mastercard to enable 24/7 cross-border payments using debit cards?
What type of assets will the new actively managed commodity fund introduced by SEBI invest in?
Which of the following options specifies the year when SEBI allowed mutual funds to invest in exchange-traded commodity derivatives (ETCDs)?
Who is the CEO of Mastercard as of the provided content?
Signup and view all the answers
Which regulatory body is responsible for considering the introduction of new commodity funds in India?
Signup and view all the answers
What is Citigroup known for in relation to Mastercard?
Signup and view all the answers
What major transaction types does the Mastercard Move service facilitate?
Signup and view all the answers
Which payment option was involved in the collaboration for 24/7 cross-border transactions?
Signup and view all the answers
What is the primary function of the Negotiated Dealing System-Order Matching (NDS-OM)?
Signup and view all the answers
Which of the following entities is NOT classified as a Primary Member in the Negotiated Dealing System-Order Matching (NDS-OM)?
Signup and view all the answers
What type of license has Jio Payments Bank Limited received from the Association of Mutual Funds in India (AMFI)?
Signup and view all the answers
Which organization imposed the penalties on SG Finserve and Arunachal Pradesh Rural Bank for regulatory non-compliance?
Signup and view all the answers
What is the maximum transaction fee that Category 1 Execution-Only Platforms can charge for mutual fund transactions?
Signup and view all the answers
Who is the CEO and Managing Director of Jio Payments Bank Limited?
Signup and view all the answers
In which city is Jio Payments Bank Limited headquartered?
Signup and view all the answers
A Category 1 Execution-Only Platform primarily enables transactions for which of the following?
Signup and view all the answers
What was the reason for the Rs 1 crore fine imposed on Jai Anmol Ambani?
Signup and view all the answers
Who else was fined along with Jai Anmol Ambani in the Reliance Home Finance case?
Signup and view all the answers
Which Asset Management Company launched India's first NBFC sector-based Target Maturity Mutual Fund Scheme?
Signup and view all the answers
What type of loans did Jai Anmol Ambani sanction despite opposition from other board members?
Signup and view all the answers
Within how many days must Jai Anmol Ambani and Krishnan Gopalakrishnan pay their fines?
Signup and view all the answers
Which regulatory body imposed the fine on Jai Anmol Ambani?
Signup and view all the answers
What does NBFC stand for in financial terms?
Signup and view all the answers
What was the amount of the loans sanctioned by Jai Anmol Ambani to each entity?
Signup and view all the answers
What did SEBI state about Jai Anmol's due diligence?
Signup and view all the answers
What is the nature of the AXIS CRISIL-IBX AAA NBFC Index fund launched by Axis AMC?
Signup and view all the answers
Study Notes
Reliance Home Finance Case
- SEBI imposed a fine of 1 crore rupees on Jai Anmol Ambani for failing to conduct due diligence before approving corporate loans at Reliance Home Finance.
- Reliance Home Finance's Chief Risk Officer, Krishnan Gopalakrishnan, was fined 15 lakh rupees for the same infraction.
- The fines were levied because Jai Anmol Ambani, a non-executive director at Reliance Home Finance, approved unsecured loans of 20 crore rupees each to Visa Capital and Accura Productions despite opposition from other board members.
- SEBI determined that Jai Anmol Ambani failed to conduct adequate due diligence on the GPCL (general purpose working capital lending) process.
India's First NBFC Sector-based Target Maturity Mutual Fund Scheme
- Axis Asset Management Company Limited (Axis AMC) launched "AXIS CRISIL-IBX AAA NBFC Index- Jun 2027 Fund," a target maturity index fund that invests in the CRISIL-IBX AAA NBFC Index - Jun 2027.
Mastercard and Citigroup Collaboration for Cross-Border Payments
- Mastercard and Citigroup partnered to enable 24/7 cross-border payments using debit cards, expanding payment options for consumers and businesses globally.
- Citigroup became the first global bank to launch the Mastercard Move service, enabling various transactions like insurance reimbursements, airline refunds, and e-commerce payments.
- The collaboration aims to provide a seamless payment experience, allowing customers to conduct cross-border transactions regardless of borders, currencies, or limitations.
- Mastercard previously collaborated with Alipay in China to facilitate money transfers to digital wallets, while Visa partnered with Western Union to enable money transfers to eligible Visa cards and bank accounts in over 40 countries.
- As of June 30, 2024, Mastercard issued over 4 billion debit, prepaid, and credit cards worldwide, highlighting its extensive presence in the payments industry.
SEBI Considering New Commodity Funds
- SEBI is considering allowing mutual funds (MFs) to introduce a new type of actively managed commodity fund dedicated to investing in exchange-traded commodity derivatives (ETCDs).
Jio Payments Bank Limited
- Jio Payments Bank Limited, a subsidiary of Jio Financial Services, received a Category 1 Execution-Only Platform (EOP) license from the Association of Mutual Funds in India (AMFI) for mutual fund distribution.
- This license allows the bank to offer direct MF plans and charge transaction fees capped at Rs 2 per transaction.
- There are currently 15 Category 1 EOPs registered with AMFI. EOPs are digital platforms enabling transactions for MF direct plans.
RBI Penalties for Regulatory Non-Compliance
- The Reserve Bank of India (RBI) imposed a penalty of Rs 28.30 lakh on SG Finserve Limited (formerly Moongipa Securities) due to non-compliance with specified restrictions outlined in the RBI's Certificate of Registration (CoR) issued under Section 45IA(5) of the RBI Act of 1934.
- The RBI also imposed a penalty of Rs 14 lakh on Arunachal Pradesh Rural Bank for regulatory non-compliance.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
This quiz covers important recent developments in the finance sector, including SEBI's penalties related to Reliance Home Finance and the launch of India's first NBFC sector-based target maturity mutual fund by Axis AMC. Test your knowledge on corporate governance, investment strategies, and regulatory compliance in the finance industry.
