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Banking and Financial Awareness Digest: December 2022

Published on Tuesday, January 10, 2023
Banking and Financial Awareness Digest: December 2022

SEBI Restructures Advisory Panels

Current Context: The Securities and Exchange Board of India (SEBI) restructured its advisory committees regarding Foreign Portfolio Investors (FPIs) and the Social Stock Exchange.
  • The former Finance Secretary, Hasmukh Adhia, was chosen as the head of the 16-member FPI Advisory Committee that was earlier chaired by K V Subramanian.
  • The Managing Director of GIC, Chew Hai Jong, and the Managing Director (Direct Custody and Clearing) of JP Morgan, Michael Drumgoole were inducted into the FPI Advisory Committee.
  • The Chairperson of GRAAM, R Balasubramaniam, was chosen as the head of the 18-member Social Stock Exchange Committee that was earlier chaired by Ishaat Hussain.
  • The CEO of SFIS, Anil Kumar SG; the Global Head (Sustainability) of HCL Tech, Santosh Jayaraman; the CEO of GuideStar India, Pushpa Aman Singh; and the MD at BIL Ryerson Technology Startup Incubator Foundation, Hemant Gupta were inducted into the Social Stock Exchange Committee.
  • SEBI is a Government of India-owned regulatory body that was established in 1992 with its headquarters in Mumbai. The current Chairperson of the body is Madhabi Puri Buch.

YES Bank Partners with Turtlefin

Current Context: YES Bank partnered with Turtlefin to launch “EasyNsure”.
  • EasyNsure is a comprehensive technology platform that aims to bring various insurance partners on a common platform.
  • In order to simplify revenue reconciliation, EasyNsure will allow business tracking across the bank hierarchy.
  • The benefits of the technology platform include:
    • Seamless Single-Point Online Insurance Service
    • Compare and Select Insurance Products for Customers
    • The Facility of Cost Comparing
  • At the event, the Country Head (Fee Income) of YES Bank, Sanjiv Roy, said that the bank was exploring innovative ways to ease the customer’s journey across products and services.
  • The YES Bank was established in 2004 with its headquarters in Mumbai. The current MD & CEO of the company is Prashant Kumar.

Star Health Launches Policy for Outpatients

Current Context: Star Health and Allied Insurance Company Ltd launched the insurance policy to provide comprehensive health and wellness benefits to outpatients.
  • The policy launched by Star Health is called “Star Outpatient Care Insurance Policy”.
  • It aims to bridge the gap between inpatient hospitalization expenses which are covered by outpatient charges and health insurance.
  • It is a stand-alone policy that will give access to doctors, clinics, and diagnostic centers throughout the country.
  • The following are the eligibility criteria to avail of the policy:
    • Adults- 18-50 years
    • Dependent Children- 36 days-25 years
  • Features of the policy include:
    • Policy Term- 01 year
    • Sum Insured Basis- Individual and Floater
    • Sum Insured Options- INR 25K, INR 50K, INR 75K, and INR 100K
  • Star Health was established in 2006 with its headquarters in Chennai. The current Chairperson of the company is V Jagannathan.
This digest is not complete. Read the complete digest on the Financial Awareness Course.
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