SEBI Approves a Rs 10,000 Crore "Airport Fund"

SEBI (Securities and Exchange Board of India) approved an "Airport" specific fund of Rs 10,000 crore.

Details:

• The name of the fund is 'Taking Off To the Future Airport Fund'.
• It can raise a capital amounting to $1.5 bn (Rs. 10,000 crores).
• The 'Sponsor and Investment Manager' of the fund is based in Chennai and is termed as 'Taking Off To The Future Investment Management LLP'.
• Gigi George leads the management and operation of 'Sponsor and Investment Manager'.
• A minimum capital contribution of Rs. 3500 crore and a maximum of Rs. 7000 crore is targeted by the fund.

About SEBI:

• The regulator for the securities market in India is the Securities and Exchange Board of India(SEBI)(established in 1988).
• On 12th May 1992, it became an autonomous body by the Government of India.
• Through the SEBI Act, 1992, SEBI was given statutory powers on 30 January 1992.
• On 10th January 2017, Ajay Tyagi was appointed as the chairman of SEBI by replacing U.K. Sinha.

Question:

Q. SEBI (Securities and Exchange Board of India) in a first of its kind move approved which specific fund of Rs 10,000 crore?
a. Railway Fund
b. Airport Fund
c. Forest Fund
d. Agriculture Fund