Banking, Financial and Economic Awareness

2019-12-21

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

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