Current Affairs - Finance

SEBI's FPI Outreach Cell is a dedicated initiative to facilitate seamless market access for foreign portfolio investors. Operating under the Alternative Investment Fund and Foreign Portfolio Investors Department, this cell provides assistance with documentation, compliance, and operational challenges. The primary goal is to simplify the registration process, making it easier for FPIs to participate in the Indian securities market. This move aims to boost foreign investment and promote a more investor-friendly environment in India.

SEBI has mandated that individual investors must use UPI to block funds when applying for public debt securities up to ₹5 lakh. This regulation, effective from November 1, 2024, requires investors to include a UPI ID linked to their bank account in their bid-cum-application form. The aim of this directive is to enhance investor protection and improve regulation within the securities market, ensuring a more secure transaction process for participants in public debt offerings.

The Loss and Damage Fund board's groundwork in Baku marks a significant milestone in addressing climate-related disasters. With nearly $800 million pledged, COP29 seeks to convert commitments into tangible funding. This development supports nations affected by climate disasters, showcasing international cooperation in combating climate change. The fund's disbursement, set to begin in 2025, underscores the importance of global solidarity in mitigating the impacts of climate change.

The NPS Vatsalya Scheme, set to launch on September 18, 2024, allows parents to invest in their child's future with flexible contributions starting at Rs. 1,000 annually. Overseen by the Pension Fund Regulatory and Development Authority (PFRDA), the scheme is designed to build long-term wealth for children through the power of compounding. It provides a financial security net for children and is accessible to families from various economic backgrounds, ensuring their child's financial future is safeguarded.

RBL Bank has collaborated with Indian Oil Corporation to introduce the 'Xtra Credit Card.' This partnership aims to moderate the growth of RBL Bank's credit card portfolio and enhance customer engagement. The new credit card is part of RBL Bank's strategy to achieve a 15% increase in credit card outstanding while addressing regulatory concerns over the unsecured credit segment. The collaboration with Indian Oil reflects a focus on leveraging co-branded partnerships to boost market presence and customer value.