General Awareness Conceptual Business Knowledge
Some Economic and Conceptual Business Knowledge bits..
BRICS to create 100 billion dollar New Development Bank (NDB).* The Contingency Reserve Arrangement will have $100 billion.
* The New Development Bank will start with an initial capital of $50 billion.
* Initial capital consists of $10 billion of "paid-in capital" and an additional $40 billion to be "paid upon request".
* It is scheduled to start lending in 2016.
* Each member cannot increase its share of capital without all other 4 members agreeing.* Open to membership by other countries, but the capital share of the BRICS cannot drop below 55 percent.
Contribution:
* China will contribute 41 billion USD.
* Brazil, Russia and India will contribute 18 billion USD each.
* South Africa will provide 5 billion USD.
Other information about BRICS
* BRICS bank was proposed in 2nd BRIC summit held in 2010.
* If the situation of closing bank arrives, China can take half of its fund, SA can take double its fund and reaming countries can take whatever they invested.
Govt clears 19 FDI proposals worth Rs. 2,327 core.
* Above proposals includes, including that of Walt Disney Company and Reckitt Benckiser (India).
The SEBI barred former Satyam Computer Services founder-chairman B Ramalinga Raju and four others from the market for 14 years for perpetuating the biggest accounting fraud in the country.
* The capital market regulator has also levied a monetary penalty of close to Rs. 1,850 crore on them along with an interest at 12 per cent per annum, which would be calculated from January 7, 2009.
How the scam unfolded
* The company’s market capitalisation had plunged from over Rs. 12,000 core to Rs. 2,705 core in a single trading session. After the clean-up of its books by a Government appointed committee, Satyam was eventually bought by Tech Mahindra and merged with itself.
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