Daily Current Affairs : 10th June 2015

SEBI cracks down on 200 illicit fund-raising activities in 1 year

Stepping up action against illicit fund-raising in a big way, SEBI has cracked down on nearly 200 such activities in last one year relating to fraud against gullible investors and recovered Rs. 25 crore.A majority of orders against deemed public issues were in West Bengal, Uttar Pradesh, Madhya Pradesh and Odisha. The same for CIS activities are in Tamil Nadu, Madhya Pradesh, Maharashtra, Uttar Pradesh and West Bengal.

Government to Give Rs 6,000 Crore Interest-Free Loans to Sugar Mills

The government has approved interest-free loans for cash-strapped sugar mills to help them pay nearly 30 per cent of the record Rs 21,000 crore they owe to cane farmers, many of whom are struggling with huge debts as the first country-wide drought in six years looms.Sugar cane prices, meanwhile, have jumped over the years due to the populist policies of state governments to raise minimum support prices for farmers.

Kapil Mishra to Succeed Jitender Tomar as Delhi's Law Minister

Delhi Jal Board vice chairman Kapil Mishra will succeed Jitender Tomar as Delhi's law minister. A letter has been sent to the president in this regard.Mr Tomar had stepped down on Tuesday after being arrested over allegations that he had faked his law degree.

Small traders body CAIT to launch ecommerce platform 

After fighting tooth and nail with online retailers, the apex body of small traders, Confederation of All India Traders (CAIT), has decided to launch its own ecommerce portal in the next three months.Named 'e-Lala', the proposed portal will provide a direct interface between sellers and consumers and there will be no third agency which will be involved in any transaction, thereby eliminating the commission component which the sellers need to pay.Consumers will have the option to buy either online or from the physical store of the chosen seller

Microsoft begins rebranding of Nokia Priority Stores

In order to increase its presence in emerging markets like India, Microsoft on Wednesday kick-started rebranding of Nokia Priority Stores as Microsoft Priority Resellers.India is the first country among Microsoft's global markets to roll out the new look for its retail outlets.While existing Nokia stores would transform into Microsoft Priority Resellers, housing only Microsoft products, the multi-branded retail stores will be rechristened as Microsoft Mobile Resellers.

RBI issues draft norms on rupee-linked bonds overseas

The Reserve Bank of India (RBI) on Tuesday said that Indian corporates, eligible to raise external commercial borrowings (ECBs), are permitted to issue rupee- linked bonds overseas.The RBI proposed that the subscription, coupon payments and redemption might be settled in foreign currency.