BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Indian Parliament recently has passed the bill to empower SEBI to act against ponzi operators and market manipulators more effectively. What is the name of this bill?

A	The Securities Law (Amendment) Bill, 2014
B	Judicial Appointments Commission Bill, 2014
C	The Constitution Bill, 2014
D	The Banking Law, 2014

Explanation:

Detailed explanation-1: -In order to protect investor interests against ponzi schemes and security law offenders the Securities Laws (Amendment) Bill, 2014 has been passed by the Lok Sabha and the Rajya sabha both.

Detailed explanation-2: -Securities Laws (Amendment) Act, 2014 is a legislation in India which provided the securities market regulator Securities and Exchange Board of India (SEBI) with new powers to effectively pursue fraudulent investment schemes, especially ponzi schemes.

Detailed explanation-3: -The correct answer is the Narasimham Committee. The SEBI was given statutory recognition in 1992 on the recommendation of the Narasimham Committee. The Securities and Exchange Board of India (SEBI), was initially constituted on April 12, 1988.

There is 1 question to complete.