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Core SGF & standardized stress testing for credit risk for commodity derivatives

SEBI Circular, SEBI/HO/CDMRD/DRMP/CIR/P/2018/111 dated 11th July 2018, to National Commodity Derivatives Exchanges, reads as follows:-
1. Vide circular SEBI/HO/CDMRD/DRMP/CIP/P/2016/86 dated September 16, 2016, SEBI had continued norms related to, inter-alia, Settlement Guarantee Fund (SGF) and Stress test to determine adequacy of SGF prescribed by erstwhile Forward Markets Commission for National Commodity Derivatives Exchanges.

[SEBI] Discontinuation of acceptance of cash by Stock Brokers

SEBI Circular SEBI/HO/MIRSD/DOP/CIR/P/2018/113 dated 12th July 2018 to all Recognised Stock Exchanges, reads as follows:—
1. Please refer to SEBI circular SEBI/MRD/SE/Cir- 33/2003/27/08 dated August 27, 2003, regarding Mode of Payment and Delivery.
2. Government of India has promoted various means for transfer / receipt of funds through digital mode for encouraging a cashless economy. Financial institutions/ Banks have introduced various modes of electronic payment facility including mobile banking, Unified Payment Interface (UPI) etc.

[SEBI] Review of Adjustment of Corporate Actions for Stock Options

SEBI Circular, CIR/MRD/DoP-1/P/00108/2018 dated 5th July 2018, to all Stock Exchanges, reads as follows:—
“1. SEBI, vide Circular No. SMDRP/DC/CIR- 8/01 dated June 21, 2001, prescribed a framework for adjustment of corporate actions for stock option contracts. Further, SEBI, vide Circular No. SMDRP/DC/CIR-15/02 dated December 18, 2002, set out principles for adjustment in derivative contracts at the time of corporate actions.

Rs. 95,610cr June 2018 GST Gross Revenue (May 2018 - Rs. 94,016cr)

July 01, 2018: The total gross revenue collected in the month of June 2018 is Rs 95,610 crore of which CGST is Rs 15,968 crore, SGST is Rs. 22,021 crore, IGST is Rs 49,498 crore (including Rs. 24,493 crore collected on imports) and cess is Rs. 8,122 crore (including Rs. 773 crore collected on imports). The total number of GSTR 3B Returns filed for the month of May upto June 2018 is 64.69 Lakhs.
The total revenue earned by Central Government and the State Governments after settlement in the month of June 2018 is Rs. 31,645 crore for CGST and Rs. 36,683 crore for SGST.

Consumer Price Index for Industrial Workers (CPI-IW) — May 2018

July 02, 2018: The All-India CPI-IW for May, 2018 increased by 1 point and pegged at 289 (two hundred and eighty nine). On 1-month percentage change, it increased by (+) 0.35 percent between April, 2018 and May, 2018 when compare with the increase of (+) 0.36 percent between the corresponding months of previous year.
The maximum upward pressure to the change in current index came from Food group contributing (+) 0.68 percentage points to the total change. At item level, Rice, Groundnut Oil, Fish Fresh, Poultry (Chicken), Eggs (Hen), Mik, Pure Ghee, Chillies Green, Onion, Brinjal, Cabbage, Carrot, French Bean, Green Coriander Leaves, Palak, Potato, Radish, etc. are responsible for the increase in index. owever, this increase was checked by Wheat, Wheat Atta, Mustard Oil, Chillies Dry, Lady's Finger, Mango (Ripe), Torai, etc., putting downward pressure on the index.

4th Round of negotiations under the Asia Pacific Trade Agreement (APTA)

July 02, 2018: The results of 4th Round of negotiations under the Asia Pacific Trade Agreement (APTA) (formerly Bangkok Agreement) among six countries, namely, Bangladesh, China, India, Lao PDR, Republic of Korea, and Sri Lanka, have been implemented with effect from 1st July, 2018.
APTA is an initiative under the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP) for trade expansion through exchange of tariff concessions among developing country members of the Asia Pacific Region, in place since 1975. APTA is a Preferential Trade Agreement, under which the basket of items as well as extent of tariff concessions are enlarged during the trade negotiating rounds which are launched from time to time.

Extension of Recapitalization Scheme of Regional Rural Banks upto 2019-20

July 04, 2018: The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the extension of the scheme of recapitalization of Regional Rural Banks (RRBs) for the next three years i.e. upto 2019-20.   This will enable the RRBs to maintain the minimum prescribed Capital to Risk Weighted Assets Ratio (CRAR) of 9 per cent.
Impact:
A strong capital structure and minimum required level of CRAR will ensure financial stability of RRBs which will enable them to play a greater role in financial inclusion and meeting the credit requirements of rural areas.

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