FINANCIAL SECTOIR DEVELOPMENT Presented by Surabhi Agrawal
About Myself . A Chartered Accountant (CA) and Company Secretary (CS) by Qualification, I love teaching and Public speaking 2. Have secured All India rank 34th and 25th in CA IPCC and Final respectively. 3. UPSC aspirant. 4. Follow me:https://unacademy.com/user/agrawalsurabhi18
Provisions in the budget for financial sector development Reserve Bank of India has issued guidelines to nudge Corporates access bond market. SEBI will also consider - mandating, beginning with large Corporates, to meet about one-fourth of their financing needs from the bond market. Money Investors Corporates Interest Issues Bonds (Securities) to investors
The Government will establish a unified authority for regulating all financial services in IFSCs in India. - About International Financial Service Centre (IFSC) 1. Gujarat International Finance Tec-City (GIFT City is the first such centre. It is modelled on the lines of those in Dubai and Singapore. These centres will allow companies incorporate outside India to raise money in foreign currencies by issuance and listing of their equity shares on stock exchanges within the IFSC. 2.
3. Foreign and Indian stock exchanges will be allowed to set up separate bourses within IFSC as subsidiaries. 4. These centres will have relaxed capital and other requirements for some time in order to facilitate stock exchanges, clearing corporations and depositories to set bourses in the IFSC. 5. India's first international exchange- India INX- has been inauqurated by PM at International Financial Services Centre (IFS ) in Gujarat International Financial Tech City (GIFT) located in Gujarat. India International Exchange (INX) is the wholly-owned subsidiary of the Bombay Stock Exchange (BSE). It will be the fastest international exchange in the world in terms of order response time.
* Task of connecting one lakh gram panchayats through high speed optical fiber network has been completed under phase l of the Bharatnet project. This has enabled broadband access to over 20 crore rural Indians in about two lakh fifty thousand villages. The budget has provided Rs. 10,ooo crore in 2018-19 for creation and augmentation of Telecom infrastructure. To harness the benefit of emerging new technologies, particularly the 'Fifth Generation' (5G) technologies and its adoption, the Department of Telecom will support establishment of an indigenous 5G Test Bed at IIT, Chennai.
* Distributed ledger system or the block chain technology allows organization of any chain of records or transactions without the need of intermediaries. This block chain technology is used in crypto-currencies like Bitcoins, etc. The Government does not consider crypto-currencies legal tender and will take all measures to eliminate use of these crypto-currencies in financing illegitimate activities or as part of the payment system
Rank 358 UPSC 2018, Chartered accountant and company secretary with 4 All India ranks, passionate learner and above all a positive soul.