Prelims Pinpointer — 25 July 2026
Competition Commission of India (CCI)
- CCI is India’s principal competition regulator, constituted under the Competition Act, 2002.
- CCI was established on 14 October 2003 and became operational in May 2009.
- It is a statutory body under the Ministry of Corporate Affairs, headquartered in New Delhi.
Composition
Chairperson and up to six members appointed by the Central Government; minimum 15 years’ professional experience; tenure of five years.
Powers & Functions
Investigates anti-competitive agreements and abuse of dominance, examines mergers/combinations, protects consumer interests, and can initiate suo motu inquiries.
Key Provisions
Section 3 — anti-competitive agreements; Section 4 — abuse of dominant position; Sections 5 & 6 — mergers and acquisitions; Section 19 — power to investigate and initiate suo motu inquiries.
Competition (Amendment) Act, 2023
Streamlines merger review, addresses digital market challenges, raises penalties, strengthens investigation powers, and improves procedural efficiency.
Qeshm Island
- Qeshm Island is the largest island in the Persian Gulf and forms part of Iran.
- It is located close to the Strait of Hormuz, lying opposite Bandar Abbas, separated by the Clarence Strait.
- Most of the island has rocky terrain with a few sandy coastal stretches; flat-topped hills dominate its landscape.
- The island experiences a hot, arid climate.
- Hara Mangrove forests provide habitat for many migratory bird species.
- Qeshm Geopark became the region’s first UNESCO-recognised geopark in 2006.
- Namakdan Salt Cave is among the world’s longest natural salt caves.
Portfolio Management Services (PMS)
- PMS is a professional investment service managed by a qualified fund manager, primarily designed for high net worth individuals.
- Only SEBI-registered companies, corporate entities or LLPs can offer PMS.
- Minimum investment: at least ₹50 lakh per client, deployed across equity, debt and other securities.
- Industry AUM exceeded ₹42.61 lakh crore in May 2026.
Overseas & Unlisted Securities
Permit investment in listed foreign equity/debt, allow investment before securities are listed, and permit up to 10% in investment-grade unlisted debt.
Flexibility & Oversight
Greater derivatives flexibility for hedging, independent managers operating via registered PMS platforms, and relaxed dealing-room norms for smaller managers.
- The Hindu — Competition Commission of India (CCI) ruling on Zomato
- NIE — Qeshm Island and the Strait of Hormuz
- Indian Express — SEBI’s proposed PMS reforms
