249 startups were given financial support with FFS: DPIIT

A total of 249 startups have been supported in the past three years with the Fund of Funds for Startups (FFS)

The Department for Promotion of Industry and Internal Trade (DPIIT) is the monitoring agency and Small Industries Development Bank of India (SIDBI) is the operating agency for FFS.

Financial assistance was given to 62 startups in 2016-17, 58 in 2017-18, 98 in 2018-19 and 31 till June 13 in 2019-20, said Minister of Commerce and Industry Piyush Goyal.

Group of Secretaries constituted on e-Commerce

A Standing Group of Secretaries (GoS) has been constituted on e-Commerce by Ministry of Commerce and Industry.

GoS under the Chairmanship of Secretary, Department for Promotion of Industry and Internal Trade (DPIIT) is constituted to ensure inter-ministerial/inter-departmental coordination on resolving issues, cutting across Ministries and Departments of Government of India in e-Commerce.

Tech Mahindra signs contract with Airbus

IT firm Tech Mahindra has signed a multi-year contract with Airbus for cabin and cargo design engineering with an aim to capitalise on the specialised skills and competencies in the growing cabin engineering business over the next few years.

SEBI sets up panel to review margins on derivatives

Based on the feedback that the existing margin requirements in the derivatives segment is pushing up cost of trading while not managing risk in the most efficient manner, the Securities and Exchange Board of India (SEBI) has decided to review the current framework of margins in the futures and options segment.

The capital markets regulator has set up a working group, headed by NSE Clearing Ltd., to look into the issue and submit its recommendations to the Secondary Market Advisory Committee.