Banking, Financial and Economic Awareness of 21 December 2019

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.
• CRISIL:
  • 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 2^nd Schedule of RBI Act, 1934.
  • Headquarters: Thrissur, Kerala