Topic: Indian Economy/Financial Market
1. Ghaziabad Nagar Nigam issues India’s first municipal green bonds.
- Ghaziabad Nagar Nigam (GNN) has issued India’s first municipal green bonds.
- India’s first Green Municipal bond has been successfully raised and listed by Ghaziabad Nagar Nigam.
- Ghaziabad Nagar Nigam raised ₹150 crore. The money will be used to clean up dirty water by establishing a tertiary water treatment plant.
- It will also be used to supply piped water. K Capital was the lead manager for the issue bonds.
- Ahmedabad, Surat, Visakhapatnam, Amravati, Indore, Bhopal, Pune, Hyderabad and Lucknow are nine cities that have earlier issued municipal bonds.
- Green Bonds are financial instruments designed to fund environment related and climate related projects. European Investment Bank and the World Bank launched green bonds in 2007.
2. Government of Haryana approves allotment of 140 acres of land to Flipkart.
- Government of Haryana has approved the allotment of 140 acres of land to Flipkart for setting up its largest fulfilment centre in Asia.
- It will be located in Patli Hajipur in Manesar of Gurugram district.
- The allotted land belongs to Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC).
- The approval was given in a meeting of the Haryana Enterprise Promotion Board (HEPB).
3. Flipkart enters into strategic and commercial partnership with the Adani Group.
- Flipkart has entered into a strategic and commercial partnership with the Adani Group.
- Flipkart will also establish its third data centre at Chennai-based facility of Adaniconnex Private Limited.
- Adaniconnex Private Limited is a Joint Venture that was formed between EdgeConneX and Adani Enterprises Limited.
- Under the partnership, Adani Logistics Ltd will build a fulfilment centre in its upcoming logistics hub in Mumbai and the centre will be leased to Flipkart.
Topic: Indian Economy/Financial Market
4. Government likely to increase FDI limit in pension sector to 74%.
- Government is likely to increase the FDI limit in the pension sector from 49% to 74%.
- To increase FDI limit in pension sector, the government is likely to bring a bill in the next session.
- Amendment bill may also separate NPS Trust from PFRDA. Currently, powers, functions and duties of the NPS Trust are given in the PFRDA (National Pension System Trust) Regulations 2015.
- Last month, Parliament gave approval to a Bill increasing the FDI limit in the insurance sector from 49% to 74%.
5. Dr. Reddy’s Laboratories gets permission from Drug Controller General of India (DCGI) for restricted emergency use of Sputnik V.
- Dr. Reddy’s Laboratories has got permission from Drug Controller General of India (DCGI) for restricted emergency use of Sputnik V.
- Dr. Reddy’s Laboratories has also got permission to import Sputnik V vaccine into India.
- In September 2020, Dr. Reddy’s had entered into a partnership with the Russian Direct Investment Fund (RDIF) to conduct the clinical trials of Sputnik V.
- Russian-made Sputnik V ranks second among coronavirus vaccines globally in terms of the number of approvals issued by governments.
- With the approval of Sputnik V, India now has three vaccines against COVID-19. Other two are Covishield — the Oxford-Astrazeneca vaccine manufactured by the Serum Institute of India — and Bharat Biotech’s Covaxin.
Topic: Infrastructure and Energy
6. India’s first Floating Storage and Regasification Unit (FSRU) reaches at H-Energy’s Jaigarh LNG regasification terminal in Maharashtra.
- India’s first Floating Storage and Regasification Unit (FSRU) reached at H-Energy’s Jaigarh LNG regasification terminal in Maharashtra.
- The name of FSRU is ‘Höegh Giant’. India’s first FSRU-based LNG regasification terminal will increase India’s LNG terminal capacity to 51 million tonnes (mt) from 45 mt.
- Government aims to increase the share of natural gas in India’s energy mix from the present 6% to 15% by 2030.
- The FSRU is hired from Höegh LNG Holdings Ltd for 10-years by H-Energy, through its wholly-owned subsidiary Western Concessions Pvt Ltd.
- Peak regasification capacity of ‘Höegh Giant’ is about six mt a year. It will deliver regasified LNG to the Jaigarh-Dabhol pipeline.
Topic: Regulatory Bodies/Financial Institutions
7. ₹25 crore penalty imposed by SEBI on Yes Bank in AT-1 bond case.
- ₹25 crore penalty has been imposed by SEBI on Yes Bank in AT-1 bond case.
- It also imposed a ₹1 crore fine on members of Private Wealth Management Team of Yes Bank.
- All penalties imposed SEBI have to be paid within 45 days. Yes Bank sold AT-1 bonds to investors, terming them as Super Fixed Deposits.
- In March 2020, Yes Bank wrote of ₹8,415 crore of these bonds. All the investors approached SEBI.
- In October 2020, SEBI appointed an adjudicating officer and issued show cause notices. SEBI started hearing this year.
8. S Ramann appointed as SIDBI’s new Chairman and Managing Director.
- S Ramann has been appointed as Chairman and Managing Director of Small Industries Development Bank of India (SIDBI) by the central government.
- He is appointed for a three-year tenure.
- Banks Board Bureau had suggested his name for the post in December last year.
- He is the current CEO of India’s first Information Utility, National E-Governance Services Ltd.
- It is the principal financial institution in the MSME sector.
- It works under the Department of Financial Services.
- It is regulated and supervised by the Reserve Bank of India (RBI).
- It was established in 1990.
- Headquarters: Lucknow, UP