Mutual-Funds-India
1) Indian security market regulator Securities and Exchange Board of India (SEBI) on 28 October, 2013 asked mutual funds to adopt different districts to increase their penetration. SEBI gave reference of a CRISIL report on mutual funds, which quotes data from Association of Mutual Funds in India (AMFI) to disclose the fact that Indian mutual fund market has been dominated by investors belonging to large cities of the country. According to this report what percentage of the gross mutual fund market has been captured by investors of India’s five largest cities? – 74% (Another problem effecting Indian mutual fund market is the fact that mutual funds lost 8% or nearly 35 lakh retail folios over past six months ended September, 2013 according to the latest data released by AMFI. Therefore SEBI is pushing to increase mutual fund penetration in small districts of the country for which mutual funds can also adopt some districts)
2) What is the name of a panel constituted by the Reserve Bank of India (RBI) during October 2013, which would give its recommendations for implementing a national Indian Bill Payment System so that households will be able to use bank accounts to pay school fees, utilities, medical bills and make remittances electronically? - GIRO Advisory Group (GAG) – GAG is headed by Prof. Umesh Bellur, Professor, Indian Institute of Technology, Bombay. The panel would submit its report by the end of December, 2013
3) The Finance Ministry on 23 October, 2013 finalised the bank-wise capital allocation, which is part of the capital infusion plan for 20 public sector banks which altogether will get Rs 14,000 crore. How much capital will be infused into the State Bank of India (SBI)? – Rs. 2000 crore (SBI has got the largest share in this capital infusion initiative. The capital infusion is done with the twin objective of adequately meeting the credit requirement of the productive sectors of the economy as well as to maintain regulatory capital adequacy ratios. Banks can raise Rs 10,000 crore from markets against the Rs 14,000 crore infusion)
4) The Planning Commission during October 2013 decided that the Raghuram Rajan committee report on the development index for states will not work for distribution of all central funds. The commission's move was in response to protests made by several states at the new ordering of backwardness that has been drawn up by the committee headed by Rajan. The Planning Commission