Banking, Financial and Economic Awareness
1. 1,000 hectares of land allotted to Jaypee group cancelled
- Yamuna Expressway Industrial Development Authority (YEIDA) has cancelled 1,000 hectares of land allotted to the Jaypee group over non-payment of dues.
- It was allotted to Jaypee Sports Limited, which is associated with the Jaypee group.
- The land has India’s only F1 motor racing circuit in Greater Noida.
2. Anand Mahindra to be non-executive chairman and Pawan Goenka to be MD and CEO of M&M from April 1, 2020, to April 1, 2021
- From April 1, 2020, Anand Mahindra will become a non-executive chairman of M&M.
- Currently, he is the executive chairman of Mahindra & Mahindra (M&M).
- Pawan Goenka will be reappointed as MD (Managing Director) and CEO of M&M. He will continue from April 1, 2020, to April 1, 2021.
- After April 2, 2021, Anish Shah will become MD and CEO of M&M.
- Rajesh Jejurikar will also join the board of M&M as executive director.
3. CRISIL may acquire Greenwich Associates
- In a $40 million deal at the starting of 2020, CRISIL may acquire US-based analytics firm Greenwich Associates LLC and its six subsidiaries.
- Crisil Ltd.’s wholly-owned subsidiary, Crisil Irevna US LLC, will acquire Greenwich.
- It was formerly known as Credit Rating Information Services of India Limited.
- Headquarters: Mumbai
- CEO: Ashu Suyash
- Parent organization: Standard & Poor's International
4. ESAF Small Finance Bank's digital banking and financial literacy tool for hearing impaired
- ESAF Small Finance Bank has handed over its digital banking and financial literacy tool for hearing impaired to RBI.
- ESAF Small Finance Bank:
- It was earlier known as ESAF Microfinance.
- It was started as an NGO named Evangelical Social Action Forum.
- It was an RBI-licensed Non-banking Finance Company and Microfinance Institution (NBFC-MFI).
- After getting approval from RBI in December 2018, it started to function as a scheduled bank.
- Scheduled banks are banks included in the 2nd Schedule of RBI Act, 1934.
- Headquarters: Thrissur, Kerala