We have launched our mobile app, get it now. Call : 9354229384, 9354252518, 9999830584.  

News in Short

News in Short - 24-April-2020

SEBI relaxes norms for investing in stressed assets

Date: 24 April 2020 Tags: miscellaneous
  • Market regulator, Securities and Exchange Board of India (SEBI) has proposed to relax funding norms pertaining to companies with stressed assets in a bid to help them infuse some funds and combat bankruptcy.
  • The SEBI relaxed the funding norms by easing the pricing guidelines for preferential issues. A preferential issue is a primary market issuance of shares by listed companies to select groups of institutions (or qualified institutional buyers).
  • Investors ready to infuse large amounts in select stressed companies may not need to make an open offer and such companies could price their preferential issues under easier norms, if proposals in a regulatory discussion paper make it to the final stage.

Air pollution in North India at 20 year low: NASA

Date: 24 April 2020 Tags: Miscellaneous
  • Air pollution over northern India has plummeted to a 20-year-low for this time of the year, according to satellite data published by US space agency National Aeronautics and Space Administration (NASA).
  • The US space agency's satellite sensors observed aerosol levels at a 20-year low post the countrywide lockdown, implemented to slow the spread of the novel coronavirus.
  • The data published with maps show aerosol optical depth (AOD) in 2020 compared to the average for 2016-2019. Aerosol optical depth is a measure of how light is absorbed or reflected by airborne particles as it travels through the atmosphere.

Affluent OBC, SC/ST not letting quota benefits trickle down: SC bench

Date: 24 April 2020 Tags: Judiciary & Judgments
  • The Supreme Court said the government is “duty-bound” to periodically review the process in order to ensure that the benefits “trickle down and are not usurped by” the affluent in these categories.
  • It was Pointing to concerns within the OBCs and the SC/STs that reservation benefits are not reaching the truly deserving among them.
  • The Supreme court agreed that the Government is required to revise the lists. It can be done presently without disturbing the percentage of reservation so that benefits trickle down to the needy and are not usurped by those classes who have come up after obtaining the benefits.

Mukesh Ambani tops Asia’s richest person list

Date: 24 April 2020 Tags: Honours & Awards
  • After the Reliance Jio-Facebook deal was announced, Mukesh Ambani's wealth surged to make him Asia's richest man surpassing Jack Ma.
  • Ambani's fortune rose by $4.69 billion to $49.2 billion after Reliance Industries gained 10 per cent, according to the Bloomberg Billionaires Index.
  • The ranking that changes after the close of every trading day in the US puts Ambani $3.2 billion ahead of Jack Ma's $46 billion. Before the deal, Ambani's fortunes had seen a decline of $14 billion on the index in 2020.

Government issues ordinance to protect frontline health workers

Date: 24 April 2020 Tags: Bills & Laws
  • The central government has brought an ordinance to end violence against health workers by amending the Epidemic Diseases Act, 1897, which will allow imprisonment from 6 months to 7 years for those found guilty.
  • The crimes against health workers had been made a "non-bailable offense" via the ordinance. Under the new law, investigation in such cases will be completed in a time-bound manner.
  • Such crime will now be cognizable and non-bailable. Investigation will be done in 30 days. Accused can be sentenced from 3 months-5 years and penalised from ? 50,000 up to ? 2 lakh.