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Current Affairs search results for tag: committee
By admin: Aug. 6, 2022

SEBI forms a FPI advisory committee under the chairmanship of K V Subramanian

Tags: Committee Economy/Finance Person in news

The Capital and Commodities markets regulator, Securities Exchange Board of India (SEBI) on 5 August 2022, has set up a committee, which will advise it on measures to facilitate ease of doing business by Foreign Portfolio Investors (FPIs) in India.

Chairman of the Committee

The 15 member committee will be headed by former chief economic adviser to the Government of India K V Subramanian.

Term of reference of the committee 

  • The committee will suggest measures required to encourage FPI participation in the bond market.
  • It will suggest and advice on issues related to investments and operations of such investors in the Indian financial markets.
  • The panel will be required to recommend measures for simplification of FPI regulations and to advice on custodian-related matters pertaining to such foreign investors. 

What is Foreign Portfolio Investors (FPI)?

  • Foreign Exchange Management act 1999(FEMA) which deals with Foreign exchange has defined Foreign Portfolio Investment (FPI).
  • Foreign Portfolio Investment means any investment made by a person resident outside India in capital instruments where such investment is (a) less than 10 percent of the paid-up equity capital of a listed Indian company or (b) less than 10 percent of the paid up value of each series of capital instruments of a listed Indian company.
  • Unlisted Company means that the Capital instrument of the company is not listed on any stock exchange and it cannot be bought and sold in the market.
  • Capital Instrument means an instrument issued by a company to raise capital (money) from the market for business/investment purposes.  It includes both Shares (equity) or debenture or bonds. 

SEBI 

Securities Exchange Board of India (SEBI) was set up on 12 April 1988 and it was given statutory status by the SEBI Act 1992 on 30 January 1992.

  • It comes under the Ministry of Finance, Government of India.
  • It is the regulator of the Capital market and Commodities market in India.
  • The first SEBI chairman was Dr. S A Dave (1988-90)
  • Madhabi Puri Buch is the current and 10th Chairperson of the SEBI.
  • Headquarters: Mumbai
By admin: Aug. 1, 2022

Government of India form Task Force headed by VK Paul to monitor Monkeypox situation in India

Tags: Committee National

The Government of India has set up a task force to monitor the monkeypox situation in India on 31 July 2022.The team will be headed by Dr. VK Paul, Member (Health), Niti Aayog and the members include the Secretary of Union Health Ministry, Pharma and Biotech.

The Task force will monitor and provide guidance to the government on the expansion of the diagnostic facilities and vaccination development on monkeypox in the county. 

  • The first monkeypox related death was reported from Kerala when a youth who tested positive in a test conducted in foreign country died on 30 July 2022. Till date four cases have been reported in India, three in Kerala and one in Delhi.
  • According to the World Health Organization (WHO), more than 18,000 cases have been reported from 78 countries. 
  • Who declared monkey pox as a "public health emergency of international concern on 23 July 2022.
  • Monkeypox is a zoonotic disease caused by the monkeypox virus, which belongs to the same family of viruses that causes smallpox.
  •  The disease is endemic in regions like West and Central Africa but lately, cases have been reported from non-endemic countries too.
  • The first death outside Africa due to monkeypox was reported in Brazil and since then it has been reported in Spain and other countries.

For details kindly see 23 July 2022 post.

By admin: July 19, 2022

Government sets up a committee to strengthen MSP system

Tags: Committee Economy/Finance

The government of India on 18 July 2022 notified the formation of a committee on Minimum Support Price (MSP). The committee has been formed eight months after the government promised to set up such a panel while withdrawing the three contentious farm laws in 2021.

The committee will be headed by the former agriculture secretary Sanjay Agrawal.

Background to the issue 

The government has made a provision to include three members from Samyukta Kisan Morcha (SKM) as part of the committee but the farm organisation has so far not given any names to be part of the panel.

Under the leadership of SKM, thousands of farmers had held around one year-long agitation at Delhi borders and forced the government to withdraw the farm laws.

While announcing the repeal of three farm laws in November last year, Prime Minister Narendra Modi had promised to set up a committee to discuss the farmers’ demand for a legal guarantee on MSP.

For detail kindly see 25 November 2021 post 

Members of the committee 

The panel will comprise Niti Aayog member Ramesh Chand, agri-economists CSC Shekhar from Indian Institute of Economic Development and Sukhpal Singh from IIM- Ahmedabad and Commission for Agricultural Costs and Prices (CACP) senior member Naveen P Singh.

Among farmer representatives, the committee will have National award-winning farmer Bharat Bhushan Tyagi, three members from SKM, and five members from other farmer organisations include Gunwant Patil, Krishnaveer Choudhary, Pramod Kumar Choudhary, Guni Prakash and Sayyed Pasha Patel.

Two members of the farmers’ Cooperative and group include IFFCO Chairman Dilip Sanghani and CNRI General Secretary Binod Anand are also part of the committee.

Senior members of agricultural universities, five central government secretaries and chief secretaries of Karnataka, Andhra Pradesh, Sikkim and Odisha are also part of the committee.

Function of the Committee

The committee will suggest to the government how to make the MSP system more efficient and transparent and also to “make available MSPs to farmers of the country.

Minimum Support Price (MSP)

MSP is the minimum price at which the government guarantees to buy the selected crops from the farmer. This is done to assure farmers that their produce will be bought by the government at a guaranteed price. 

However, the government is not bound to buy the crops of every farmer. 

Who decides MSP 

The MSP price is calculated by an expert committee under the ministry of Agriculture. 

The expert committee is called CACP (Commission for Agricultural Costs and Price)

It recommends the MSP to the Agricultural ministry and the ministry announces the MSP.

 However the Agricultural Ministry is not bound to accept the recommendation of the CACP

When is MSP announced 

MSP is announced by the Agricultural ministry twice a year. One during Kharif season and another during Rabi season. 

Crops under MSP

The Commission for Agricultural Costs & Prices (CACP) recommends MSPs for 22 mandated crops and fair and remunerative price (FRP) for sugarcane.

The mandated crops are;

Cereals - Paddy, Wheat, Maize, Sorghum, Pearl millet, Barley, Ragi

Pulses - Chickpea / Gram, Tur, Moong, Urad, Lentil

Oilseeds - Peanut, Rapeseed, Soyabean, Sesame, Sunflower, Safflower, Niger seed

Commercial crops - Copra, Sugarcane, Cotton, Raw jute

By admin: June 21, 2022

SEBI set up a panel on Hybrid Securities

Tags: Committee Economy/Finance

Capital market regulator SEBI (Securities Exchange Board of India) has set up an advisory committee on hybrid securities, which will make recommendations for giving a push to the growth of such instruments, including measures focusing on ease of issuance and attracting domestic and global capital.

Hybrid instruments are financial instruments which include the features of both equity shares and debt instruments. 

Chairman of the committee

The 20-member committee will be chaired by K V Kamath, Chairperson of National Bank for Financing Infrastructure and Development.

In addition, the committee comprises top level officials of Infrastructure Investment Trusts (InvITs), Real Estate Investment Trusts (REITs), finance as well as legal experts and representatives of SEBI.

REITs (Real Estate Investment Trust) and InvITs (Infrastructure and Investment Funds) are classified as hybrid securities and they are relatively new investment instruments in the Indian context.

Function of the committee

The committee has been given the task of advising SEBI on issues related to development and regulation of primary and secondary markets of hybrid securities in the country.

It will identify use case scenarios of hybrid securities in the context of the infrastructure financing needs of the Indian economy and make recommendations for developing instruments to meet the needs of the infrastructure sector

SEBI 

Securities Exchange Board of India (SEBI) was set up on 12 April 1988 and it was given statutory status by the SEBI Act 1992 on 30 January 1992.

  • It comes under the Ministry of Finance, Government of India.
  • It is the regulator of the Capital market and Commodities market in India.
  • The first SEBI chairman was Dr. S A Dave (1988-90)
  • Madhabi Puri Buch is the current and 10th Chairperson of the SEBI.


By admin: May 28, 2022

Uttarakhand Government set up a committee on Uniform Civil Code

Tags: Committee State News

The Pushkar Singh Dhami led Bhartiya Janata Party(BJP) government in Uttarakhand has set up a five-member committee headed by a retired Supreme Court judge to prepare a draft on implementation of Uniform Civil Code (UCC) in the state on 27 May 2022. It was one of the promises made by the BJP during the recently held Assembly election.

 The Chairman of the committee is a retired Supreme Court judge Ranjana Desai and the other members of the committee are;

  • retd. Judge ,Pramod Kohli ,
  •  social activist Manu Gaur,
  •  retired IAS, Shatrughan Singh and
  •  Doon University Vice- Chancellor Surekha Dangwal.

The panel will examine all relevant laws governing civil affairs of people living in the state and prepare a report on all applicable laws related to marriage, divorce, property rights, succession and adoption among others.

Uniform Civil Code 

  • Article 44 of the constitution provides for a Uniform Civil code for India. The civil code will provide one law for the citizens of India regarding marriage, divorce, succession of property, etc.
  • So far only Goa has a Uniform Civil Code.
  • In the rest of the country, Hindus, Muslims, Christians etc are governed by their own community laws.
  • Many minorities groups are opposing the idea of a uniform civil code as they feel that they will have to give up their tradition and customs under the common civil code and they will lose their identity. 
  • It is different from the Criminal code.  There is a common criminal law in India where people are not discriminated against on the ground of religion.

For a detailed view on Uniform Civil Code Kindly see November 2021 post 

By admin: May 26, 2022

Anwar Hussain Shaik appointed as Chairman of WTO Committee

Tags: Committee Person in news

After ten years an Indian Anwar Hussain Shaik has been made the chairman of the World Trade Organisation’s committee on Technical Barriers on Trade

He is currently posted to the Permanent Mission of India to the WTO in Geneva, Switzerland.

WTO (World Trade Organisation) members use this committee to discuss specific trade concerns, specific laws, regulations or procedures that affect their trade, usually in response to notifications issued by the member countries.

The Technical Barriers to Trade Agreement aims to ensure that technical regulations, standards and conformity assessment procedures are non-discriminatory and do not create unnecessary obstacles to trade.

World Trade Organisation (WTO) 

  • It was set up on 1st January 1995 replacing the General Agreement on Tariff and Trade (GATT).
  • Its main purpose is to promote rule based trading systems in the world and it also settles trade related disputes between the member countries. 
  •  The headquarters of WTO is in Geneva, Switzerland.
  • There are 164 member countries.
  • Director General of WTO : Dr Ngozi -Okonjo-Iweala of of Nigeria
  • Report released by WTO : World Trade Report 
By admin: May 24, 2022

RBI set up six member committee to review customer service standards in regulated Banks and NBFCs

Tags: Committee

The Reserve Bank of India (RBI) on May 23 set up a six-member committee to examine and review customer services in regulated entities like Banks and Non -Banking Financial Company (NBFC) with an aim to protect the interests of customers.

The committee will also look into the adequacy of customer service regulations and suggest measures to improve customer service

The committee, which will be chaired by former RBI deputy governor BP Kanungo, will submit its report in three months from the date of its first meeting.

Other members of the panel are: 

A K Goel (Chairman IBA and MD & CEO, PNB),

A S Ramasastri (former Director, IDRBT), 

Amitha Sehgal (Honorary Secretary, AIBDA), 

Rajeshri N Varhadi (Professor, University of Mumbai), and

Anil Kumar Sharma (Executive Director, RBI).

Full form for Exam 

IDRBT: Institute for Development and Research in Banking Technology 

AIBDA: All India Bank Depositors Association 

IBA: Indian Bank Association 


By admin: May 23, 2022

Government set up a committee to investigate Ramban tunnel collapse

Tags: Committee

Government of India has appointed a 3 member Expert  to investigate the reasons for recent collapse of a part of an under-construction tunnel in Ramban on Jammu-Srinagar highway and suggest remedial measures

Professor J.T.Sahu of the IIT Delhi has been appointed as the chairman of the committee and the committee will submit the report within 10 days to the Union Ministry of Road Transport and Highways.

The stretch between Digdole and Khooni Nallah of Ramban Banihal section is prone to frequent landslides/shooting stones due to fragile geology.  On 19 May 2022 there was a landslide at Khooni Nallah during construction work which led to the death of 10 workers.

By admin: May 18, 2022

Government of India fixes the fees to be charged by Private technical institutions

Tags: Committee National

The Government of India has accepted the recommendation of the B.N Srikrishna Committee  and has decided to fix the minimum and the maximum fees a private technical institute  can charge for providing technical and management courses regulated by the All India Council for Technical Education (AICTE ) .

  •  The AICTE had set up a National Fee Committee headed by the former Supreme Court Judge  B.N Srikrishna  for Prescribing Guidelines for Charging Tuition and Other Fees for Professional Courses in 2015.

  • Six years ago the government fixed the maximum fees the private technical institutions can charge for  providing technical courses like engineering or management courses  based on the recommendation of the Srikrishna committee but  no minimum fee limits were prescribed by the government.

  •  The government has now  accepted the Justice B.N Srikrishna report and has fixed the minimum fees also for the various  technical courses offered by Private institutions. 

 Minimum and Maximum fees limit for technical courses 

  •  For diploma courses, the minimum fee cannot be below ₹67,900 a year, while the maximum fees could be not more than  ₹1,64,700 a year, 

  • For undergraduate courses, the minimum and maximum annual charges have been fixed at ₹79,600 and ₹1,89,800, respectively.

  •  Similarly, postgraduate courses will cost between ₹1,41,200 and ₹3,04,000 a year.

  •  For management courses, the minimum fees will be  ₹85,000 and maximum fees per year will be  ₹1,95,200.  

  •  The new fees structure will be implemented from the next academic year of 2023-2034. And it will be valid for the next five years .

  •  The private institutions can raise the fees a maximum 5% every year.

AICTE (All India Council for Technical Education)

  • It was set up in 1945 as an advisory body for technical education .

  •  It was made a statutory body under  the All India Council for Technical Education act 1987 .

  • It  was set up  to plan and  co-ordinate the  development of a technical education system throughout the country,

  • It covers programmes of technical education including training and research in Engineering, Technology, Architecture, Town Planning, Management, Pharmacy, Applied Arts and Crafts, Hotel Management and Catering Technology etc. at different levels.

  • It comes under the Union Ministry of Education.

Headquarters : New Delhi 

Chairperson of AICTE :Prof. Anil Dattatraya Sahasrabudhe,

By admin: May 9, 2022

Karnataka Government set up a Commission on Political reservation of Backward Classes

Tags: Committee State News

The Bhartiya Janata Party led government in Karnataka has announced a two member commission to study the political representation of backward classes in the state on 8 May 2022.


The commission will be headed by the former high court judge Justice Bhaktavatsala while retired IAS official CR Chikmath will be its member. 

The committee will study the political backwardness of the other backward castes (OBC) in the states and suggest the reservation for them in the Urban and Rural local governing bodies.

The commission was set by the Karnataka government to comply with the Supreme Court judgment given on March 4, 2021, in the Vilas Krishnarao Gawli case. 

 In the Gawli case the Supreme Court had provided a triple test benchmark for states in determining OBC quota in local body elections. 

The three tests are:

 1) To establish a dedicated commission to conduct contemporary rigorous empirical inquiry into the nature and implications of backwardness in the form of local bodies within the state;

 2) Specify the proportion of reservations required for provision of local bodies. In the light of the recommendations of the Commission,

 3) In no case such reservation shall exceed 50% of the total number of seats reserved in favour of SC/ST/OBC.

According to the 73rd and 74th Constitutional amendment 1992 the state government can provide for 27% reservation of seats for the OBC in the Panchayats and Municipalities respectively.

Karnataka Chief Minister: Basavraj Bommai 

Governor: Thawar Chand Gehlot 

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