We have launched our mobile app, get it now. Call : 9354229384, 9354252518, 9999830584.  

Current Affairs

Filter By Article

Filter By Article

Daily PIB Analysis For UPSC/IAS | Download PDF

Date: 24 April 2019

Ministry of Corporate Affairs

  •  IEPF Authority in a major success recovers Rs 1514 Cr of Depositors’ Money: Just a beginning / A step towards Investor Protection
  • About IEPF Authority:
  • IEPF Authority has been set up under the Ministry of Corporate Affairs, Government of India as a statutory body under Companies Act 2013 to administer the Investor Education and Protection Fund with the objective of promoting Investor’s Education, Awareness and Protection. The Authority takes various initiatives to fulfil its objectives through Investor Awareness Programmes and various other mediums like Print, Electronic, Social Media, and Community Radio etc.
  • The size of IEPF Fund has almost doubled within one year with accumulated corpus of about Rs 4138 Cr. The companies have also transferred about 65.02 Cr valuing Rs 21,232.15 Cr.
  • Secretary Ministry of the Corporate Affairs is the Chairperson of the Authority. Joint Secretary Ministry of the Corporate Affairs is the Chief Executive Officer of the Authority. For administration of investor education and protection fund government of india has on 7th september, 2016 established investor education and protection fund authority under the provisions of section 125 of the companies act, 2013.
  • The authority is entrusted with the responsibility of administration of the investor education protection fund (IEPF), make refunds of shares, unclaimed dividends, matured deposits/debentures etc. To investors and to promote awareness among investors.

The IEPF is to be utilized for

  • The refund in respect of unclaimed dividends, matured deposits, matured debentures, the application money due for refund and interest thereon
  •  Promotion of investors’ education, awareness and protection
  • Distribution of any disgorged amount among eligible and identifiable applicants for shares or debentures, shareholders, debenture-holders or depositors who have suffered losses due to wrong actions by any person, in accordance with the orders made by the court which had ordered disgorgement
  •   Reimbursement of legal expenses incurred in pursuing class action suits under sections 37 and 245 by members, debenture-holders or depositors as may be sanctioned by the tribunal and
  •  Any other purpose incidental thereto, in accordance with such rules as may be prescribed: provided that the person whose amounts referred to in clauses (a) to (d) of sub-section (2) of section 205C transferred to investor education and protection fund, after the expiry of the period of seven years as per provisions of the companies act, 1956, shall be entitled to get refund out of the fund in respect of such claims in accordance with rules made under this section.

MCQ 1 

  1.  1 st Global Aviation Summit held on January 15 and 16, 2019 at The Grand Hyatt in New Delhi
  2. The two-day summit was organized by the Union Ministry of Civil Aviation, Airport Authority of India (AAI) in association with the Federation of Indian Chambers of Commerce and Industry (FICCI).

 Choose correct

(A) Only 1

(B) Only 2

(C) Both

(D) None

  • The theme of the Global Aviation Summit 2019 is 'Flying for allespecially the next 6 Billion'.

 MCQ 2

India’s 1st owl festival was organised in

  1. Rajasthan
  2. Delhi
  3. Kerala
  4. Maharashtra
  • The Indian Owl Festival, the country’s first owl fest, will be held at Pingori village in Purandar taluka of Pune from November 29. The twoday festival, organised by Ela Foundation, an NGO working towards nature education and conservation, will give information on owl conservation and feature art forms like pictures, paintings, lanterns, lamp shades, posters, origami, stitched articles, poems and stories on owls.
  • “It is a first-of-its-kind festival in the country that is being organised with the intention of creating awareness about owl as a bird and debunking numerous superstitions associated with it,” said Dr Satish Pande, director of Ela Foundation and a professor of ornithology at Savitribai Phule Pune University. “We will be conducting exhibitions of art works sent to us by around 1,200 students, exhibition of owl photos from some of the leading owl photographers, sculptures, and rangolis — all free of cost.” Skits will be performed and short films on owls will also be screened, Dr Pande added.
  • Talking about the importance of owls in the ecosystem and endangerment, Pande said: “Of the 262 species of owls that are found in the world, 75 feature in the red data book — meaning they are threatened.
  • Major causes behind this are superstitions and habitat loss — both are man-made. Despite lots of research being done on owls worldwide, conservation was not happening. We realized that unless we explained our research to the common man, nothing was going to happen. Owls eat rats, rodents, bandicoots, and mice. Most of the species that owls consume are harmful to agricultural croplands. So these birds are actually very beneficial to farmers.”

 MCQ 3

__________ became the first Indian to be honoured with the Blue Cross by the International Shooting Sport Federation (ISSF) for his contribution to the sport of shooting.

  1. Gagandeep sodhi
  2. Gagan Narang
  3. Jitu rai
  4. Abhinav Bindra
  • India's Olympic gold medal-winning shooter Abhinav Bindra became the first Indian to be honoured with the Blue Cross by the International Shooting Sport Federation (ISSF) for his contribution to the sport of shooting.
  • The Blue Cross is the highest laurel for shooters given by the ISSF.
  • Bindra won an Olympic gold (2008), a World Championship gold (2006), 7 CWG medals and 3 Asian Games medals.
  • He was given the Arjuna award in 2000, the Rajiv Gandhi Khel Ratna in 2001 and the Padma Bhushan in 2009.

MCQ 4

Kimberley Process is related to

  1. Gold
  2. Diamond
  3. Climate
  4. Carbon trading
  • The Kimberley Process Certification Scheme (KPCS) is the process established in 2003 to prevent "conflict diamonds" from entering the mainstream rough diamond market by United Nations General Assembly Resolution 55/56 following recommendations in the Fowler Report. The process was set up "to ensure that diamond purchases were not financing violence by rebel movements and their allies seeking to undermine legitimate governments
  • Global Witness is a London-based NGO, a key member of the KPCS and was one of the first organizations to bring the issue of 'conflict diamonds' to international attention.
  • They state that a report they wrote, "A Rough Trade," was partial inspiration for the film Blood Diamond. • According to Global Witness, the Kimberley Process has ultimately failed to stem the flow of conflict diamonds, leading them to abandon the scheme in 2011
  • The Kimberley Process Certification Scheme (KPCS) Plenary 2018, was held in Brussels, Belgium, in November 2018.
  • EU handed over the Chairmanship of KPCS to India from 1st January 2019. This year was the fifteenth anniversary of KPCS.
  •  As of 1 July 2013, there were 54 participants in the KPCS representing 81 countries, with the European Union counting as a single participant. The participants include all major rough diamond producing, exporting and importing countries. Cameroon, Kazakhstan, Panama, and Cambodia were admitted as participants in 2012.

 MCQ 5

  1. India co-hosted the first global conference on the sustainable blue economy in Nairobi in November 2018
  2. India endorses the growth of the Blue Economy in a sustainable, inclusive and people centered manner through the framework of the Indian Ocean Rim Association (IORA).

Choose correct

(A) Only 1

 (B) Only 2

(C) Both

(D) None

  • The first Sustainable Blue Economy Conference was held in Nairobi, capital of Kenya. It was organized by Kenya and co-hosted by Japan and Canada.
  • “India endorses the growth of the Blue Economy in a sustainable, inclusive and people centered manner through the framework of the Indian Ocean Rim Association (IORA)”.
  • It builds on the momentum of the UN’s 2030 Agenda for Sustainable Development, the 2015 Climate Change Conference in Paris and the UN Ocean Conference 2017 “Call to Action”.
  • The world has rallied around the enormous pressures facing our oceans and waters, from plastic pollution to the impacts of climate change. At the same time, there is international recognition that we need to develop our waters in an inclusive and sustainable manner for the benefit of all.

Important Role of Private Sector –

  • The Federation of Indian Chambers of Commerce and Industry (FICCI) took lead in 2016-2017 by establishing a taskforce to develop a business model on India’s engagement in the blue economy sector.

MCQ 6

  1. Benny Antony, has been conferred with the National Intellectual Property Award for 2019 in the category of Top Individual for Patents and Commercialization.
  2. He is the inventor of BCM-95, a vaccine for cholera

Choose correct

(A) Only 1

(B) Only 2

(C) Both

(D) None

  • Benny Antony, Joint Managing Director, the Kochi-based Arjuna Natural Ltd, has been conferred with the National Intellectual Property Award for 2019 in the category of Top Individual for Patents and Commercialization.
  • He is the inventor of BCM-95, the world’s leading patented turmeric extract formulation, with over 80 international patents to his credit.
  • Antony was also conferred with the ‘WIPO Medal for Inventors’ jointly by Intellectual Property Office India and the World Intellectual Property Organisation (WIPO).
  • National Intellectual Property (IP) awards: The Indian Intellectual Property Office bestows National Intellectual Property (IP) awards to outstanding innovators, organisations and companies in the field of patents, designs, trademarks and geographical indications on the occasion of World IP Day every year. Both the awards will be given away on April 26 at a function jointly organized by the Indian Intellectual Property Office and the Confederation of Indian Chamber of Commerce & Industry (CII) in New Delhi.

MCQ 7

Swachchta pakhwada award is given to

  1. Ministry of Drinking Water & sanitation
  2. AIR
  3. Children’s Film Society of India
  4. B & C both
  • All India Radio, Publication Division and Children’s Film Society of India were given Swacchta Pakhwada Awards-2019 in New Delhi. Secretary in the Information and Broadcasting Ministry Amit Khare gave away the awards. Director General of All India Radio F. Sheheryar and Director General (News) Ms. Ira Joshi received the Award for All India Radio.
  • Press Council of India, Press Information Bureau and BECIL were also mentioned during the award ceremony for their efforts during the Swacchta Pakhwada.

Swachhata Pakhwada:

  • Swachhata Pakhwada started in April 2016 with the objective of bringing a fortnight of intense focus on the issues and practices of Swachhata by engaging GOI Ministries/Departments in their jurisdictions.

 MCQ 8

 Bidder Information Management System (BIMS) is related with

  1. Railways
  2. National Highways
  3. Waterways
  4. Ganga cleaning
  • The Minister for Road Transport & Highways, Shipping, Water Resources, River Development and Ganga Rejuvenation Shri Nitin Gadkari launched Bidder Information Management System (BIMS) and Bhoomi Rashi and PFMS linkage -
  • Two IT initiatives of the Road Transport & Highways Ministry that are aimed at expediting pre construction processes relating to bidding and land acquisition respectively. The Minister also announced institution of Annual Awards for Excellence in National Highways Projects from this year onwards(2018).
  • BIMS is aimed at streamlining the process of pre-qualification of bidders for EPC Mode of contracts for National Highway works with enhanced transparency and objectivity. The portal will work as a data base of information about bidders, covering basic details, civil works experience, cash accruals and network, annual turnover etc. The pre-qualification of bidders can be assessed from data already stored in the portal, so that technical evaluation can be carried out much faster. BIMS will be used by all the project implementation agencies of the Ministry for maintenance of technical information of civil works of contractors/ concessionaires, and for online technical evaluation of civil works bids. The bidders would be responsible for ensuring that their latest details are available on the BIMS portal. These details will be used by bidders to apply for any RFP for civil works on EPC mode that has been floated by the Ministry and its implementation agencies on the Central Public Procurement Portal (CPPP). The BIMS portal will be operated in conjunction with the CPPP portal for invitation of bids for civil works for EPC mode. It is estimated that BIMS portal will significantly reduce the procurement time for projects through an objective and transparent online evaluation system thereby leading to accelerated project implementation.
  • Bhoomi Rashi, the portal developed by MoRTH and NIC, comprises the entire revenue data of the country, right down to 6.4 lakh villages. The entire process flow, from submission of draft notification by the State Government to its approval by the. Minister of State for RT&H and publication in e-Gazette, is online. The portal, created for expediting the process of publication of notifications for LA, is now being fully utilized for issuing the notifications, and more than 900 notifications have been issued using the portal so far. Bhoomi Rashi portal has been instrumental in reducing the time taken for approval and publication of notifications pertaining to land acquisition
  • Integration of Public Financial Management System (PFMS) with Bhoomi Rashi is one of the key functionalities to facilitate payment related to compensation for land acquisition to all the beneficiaries directly through the Bhoomi Rashi system. PFMS is a web-based online software application developed and implemented by the Office of Controller General of Accounts (CGA). to facilitate sound public financial management system for Government of India (GoI) It provides various stakeholders with a real time, reliable and meaningful management information system and an effective decision support system, as part of the Digital India initiative of GoI.
  • With integration of Bhoomi Rashi with PFMS, payment of Compensation by the Ministry to the beneficiaries will be just-in-time, and without any parking of funds. The testing of this integration was done through a pilot project in Jaipur RO of MoRTH for and the system is being now rolled out to all other regional offices of MoRTH and NHIDCL.