Question: Recently, the Union Cabinet approved for signing of the Memorandum of Understanding between the Securities and Exchange Board of India (SEBI) and the Financial Services Commission (FSC), Gibraltar? MoU relates to which of the following sector?
(a) Financial Services Commission, to provide financial assistance to Gibraltar
(b) Education sector
(c) For mutual cooperation and technical assistance
(d) For assistance in the field of aeronautics
- On October 11, 2017, the Union Cabinet approved the signing of the Memorandum of Understanding regarding mutual cooperation and technical assistance between the Securities and Exchange Board of India (SEBI) and Financial Services Commission (FSC), Gibraltar.
- Through this MOU, both the regulators are expected to develop economic relations and mutual cooperation between them.
- Its aim to create conditions for the effective development of the securities markets in both countries.