SEBI’S 75% Cash Surplus To Go To Government – Economic – Free PDF

CURRENT AFFAIR

• A PROPOSAL IN THE RECENT UNION BUDGET HAD BEEN MADE
• SEBI WILL HAVE TO TRANSFER 75% OF IT’S SURPLUS FROM THE GENERAL FUND EVERY YEAR TO CFI
• PROPOSED AMENDMENT TO SEBI ACT, 1992.

SURPLUS

• SEBI HAS A SURPLUS OF 3170 CRORE (2017 BS)
• SURPLUS COULD GO UP BY SEVERAL HUNDRED CRORES IN 2018

BUDGET PROPOSAL

• SEBI SHOULD CONSTITUTE A RESERVE FUND (25% TO BE CREDITED)
• TRANSFER TO RESERVE FUND EVERY YEAR SHOULD NOT EXCEED THE TOTAL ANNUAL EXPENDITURE OF PRECEDING 2 YEARS
• REST 75% TO CFI

 GENERAL FUND

• ALL THE AMOUNT THE REGULATOR GATHERS DURING THE ENTIRE YEAR
• FEES, OTHER PAYMENTS FROM MARKET INTERMEDIARIES

 CRITICISM

• UNDERMINES SEBI AUTONOMY

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