SBI Clerk Mains: “SEBI’s income surged 48% in FY24, reaching ₹2,075 crore, driven by fees and subscriptions. Learn about SEBI’s financial stability, the role of ARCs in bad loan recovery, and key updates on India’s bond market, spice exports, provident fund interest, and MSME credit assessment.”
SBI Clerk Mains: SEBI Reports 48% Increase in Income to ₹2,075 Crore in FY24, Driven by Fees and Subscriptions
- The Securities and Exchange Board of India (SEBI) recorded a 48% rise in total income for FY 2023-24, reaching ₹2,075 crore (US$ 238.1 million), primarily due to higher fees and subscriptions.
- Fee revenue saw a 52.6% jump, totaling ₹1,851.5 crore, while investment income stood at ₹192.41 crore, and other income contributed ₹18 crore.
- SEBI’s revenue sources included annual fees, listing fees, stock exchange contributions, registration charges, and offer document filings.
- Total expenditure increased to ₹1,006 crore (US$ 115.4 million), with ₹696.43 crore allocated to establishment costs and ₹218 crore to administrative expenses.
- SEBI’s general fund closed at ₹5,573 crore, with a ₹1,065 crore surplus, reinforcing its financial stability.
- The Investor Protection & Education Fund (IPEF) held ₹533.17 crore, while the Disgorgement Fund maintained ₹7.38 crore.
- SEBI invested ₹2,521.23 crore in bonds, government securities, and bank deposits, further strengthening its financial standing.
About SEBI
- Established: April 12, 1988
- Headquarters: Mumbai, Maharashtra
- Chairperson: Tuhin Kanta Pandey
SBI Clerk Mains: World Spice Organisation Urges Increased Value Addition in Spices to Achieve $10 Billion Export Target by 2030
- Despite being the largest producer and exporter of spices, India’s global market share in seasonings is just 0.7%, compared to China (12%) and the U.S. (11%) in 2024.
- India exports 1.5 million tonnes of spices valued at $4.5 billion, covering 25% of the global spice market ($20 billion), but only 48% of these are value-added products.
- To reach a $10 billion spice export target by 2030, the value-added share must increase to 70%, with a focus on seasonings, nutraceuticals, and pharmaceuticals.
- 85% of Indian spices are consumed domestically, while Vietnam, Indonesia, Brazil, China, and Africa emerge as key global competitors.
- The North Eastern states, Odisha, and Jharkhand are expanding as major spice producers due to India’s 15 agro-climatic zones.
- Key strategies include boosting production, cost reduction, quality control, and expanding exports of value-added products.
- Farmer Producer Organizations (FPOs) receive training in quality standards, sustainability, pest control, and climate-resistant spice varieties to enhance exports.
About the World Spice Organisation (WSO)
- A collaborative platform uniting farmers, processors, academics, and industry stakeholders.
- Focused on sustainable development in the spice sector.
- Chairman: Ramkumar Menon
- Headquarters: Kerala
SBI Clerk Mains: EPFO Retains Provident Fund Interest Rate at 8.25% for 2024-25
- The Central Board of Trustees (CBT) of EPFO recommended retaining the 8.25% interest rate on provident fund deposits for FY 2024-25, despite trade unions advocating for an increase.
- The final interest rate will be notified by the Government of India, after which EPFO will credit it to members’ accounts.
- The CBT reviewed proposals for increasing the minimum pension and revising EPS contribution slabs, requesting a detailed report on both.
- Changes to the Employees’ Deposit Linked Insurance (EDLI) scheme were approved, setting a minimum life insurance benefit of ₹50,000 for EPF members.
- If a member passes away within six months of their last contribution, the EDLI benefit will be granted, provided they remain listed on the employer’s records.
SBI Clerk Mains: ₹699 Crore Grant Released for Rural Local Bodies in West Bengal by Fifteenth Finance Commission
- The Union Government disbursed ₹699 crore in XV Finance Commission Grants to Rural Local Bodies of West Bengal for FY 2024-25, comprising ₹694.44 crore (2nd installment) and ₹4.93 crore (withheld 1st installment).
- These funds support 21 District Panchayats, 326 Block Panchayats, and 3,220 Gram Panchayats for local development projects under the Eleventh Schedule of the Constitution.
- Untied Grants offer flexibility in allocation for development needs but cannot be used for salaries or administrative expenses.
- Tied Grants are earmarked for sanitation, waste management, fecal sludge treatment, drinking water, rainwater harvesting, and water recycling projects.
- The funds are recommended by the Ministries of Panchayati Raj and Jal Shakti and released by the Ministry of Finance in two annual installments.
- This initiative strengthens rural governance, enhances accountability, and fosters self-reliance in villages across India.
SBI Clerk Mains: Union Finance Minister Launches New Credit Assessment Model for MSMEs
- Union Finance Minister Nirmala Sitharaman and MoS Finance Pankaj Chaudhary introduced a New Credit Assessment Model for MSMEs in Vishakhapatnam, aligning with Budget 2024-25.
- Public Sector Banks (PSBs) will now conduct in-house MSME credit assessments, reducing reliance on external evaluations and leveraging digital footprints for credit scoring.
- The model utilizes digitally verifiable data, including PAN authentication, GST data, bank statement analysis, ITR verification, and fraud detection through automated processes.
- Key Benefits for MSMEs:
- Online application submission with minimal paperwork.
- Instant in-principle loan approval for faster credit processing.
- Reduced turnaround time (TAT) for loan disbursement.
- Loan approvals will be based on transactional behavior and credit history, enabling faster and more objective lending.
- MSMEs without formal accounting systems will now have greater access to credit, boosting financial inclusion.