20th September Current Affairs
September 20, 2022
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September 22, 2022
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21st September Current Affairs

Insolvency and Bankruptcy Board of India Regulations, 2016 and Insolvency and Bankruptcy Board of India Regulations, 2017 Amendments

(GS-III: Indian economy and issues related to planning, mobilization of resources development and growth, banking reforms etc)

In News:

The Insolvency and Bankruptcy Board of India notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2022 and Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Second Amendment) Regulations, 2022.

Objective:

To enable better participation of stakeholders

Streamline the liquidation process to reduce delays

Realize better value

Key Amendments:

The Committee of Creditors (CoC): It shall function as the Stakeholders Consultation Committee (SCC) in the first 60 days.

After adjudication of claims and within 60 days of initiation of the process, the SCC shall be reconstituted based upon admitted claims.

Mandatory meeting: The liquidator has been mandated to conduct the meetings of SCC in a structured and time-bound manner.

Scope of mandatory consultation by the liquidator, with SCC, enlarged: Now, SCC may even propose the replacement of the liquidator to the Adjudicating Authority (AA) and fix the fees of the liquidator, if the CoC did not fix the same during CIRP.

Claim not filed during the liquidation process: The amount of claim collated during CIRP shall be verified by the liquidator.

Process of compromise: If CoC decides the process of compromise or arrangement during the liquidation process

The liquidator shall file the application in such cases before the Adjudicating Authority within thirty days of the order of liquidation.

Specific event-based timelines: Stipulated for the auction process.

Advisory role by SCC before filing an application(dissolution or closure): The manner in which proceedings in respect of avoidance transactions or fraudulent or wrongful trading, shall be pursued after the closure of liquidation proceedings.

Manner and period of retention: of records: Relating to liquidation and voluntary liquidation of a corporate debtor or corporate person, respectively.

AIBD extends India’s Presidency for one more year

In News:

India’s Presidency of the prestigious Asia-pacific Institute of Broadcasting Development (AIBD) has been extended for one more year.

 The Asia-Pacific Institute for Broadcasting Development (AIBD):

It was established in 1977 under the auspices of UNESCO.

Electronic media development: It is a regional intergovernmental organization servicing countries of the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP) in the field of electronic media

Objectives: Achieve a vibrant and cohesive electronic media environment in the Asia-Pacific region through policy and resource development.

Members: The AIBD currently has 26 countries as full members represented by 43 organizations, and 52 affiliate members.

The 47th AIBD Annual Gathering / 20th AIBD General Conference and Associated Meetings were held in New Delhi.

Reforms and the task of getting teachers on board

(GS-II: Issues related to the development of the social sector involving education etc)

In News:

The education system in Andhra Pradesh is changing rapidly following a slew of reforms that have been ushered in by the government.

Aim of the education reforms:

Equitable and inclusive: To ensure that all children have access to quality education within an equitable and inclusive classroom environment

Participation: Making them active participants in the learning process.

Objectives of reforms:

Critical thinking: Shift the focus from content retention to building critical thinking and problem-solving abilities

Holistic learning process: Making the learning process more experiential, holistic, integrated, enquiry-driven, and enjoyable.

Importance of app-based attendance system:

Attendance: A platform to record the attendance of teachers in government schools across the State.

Update on children: Parents will also receive SMS updates on their child’s arrival and departure from school.

Teacher absenteeism: It checks teacher absenteeism.

Issues:

School restructuring programme: it calls for a merger of classes three to five in primary schools with high schools (will further contribute to the school drop-out rate)

Reapportionment of teaching staff in the State: It will only increase their workload in addition to shrinking existing teacher posts.

Face recognition app by the School Education Department: Asking teachers to download it on their personal mobile phones and record their daily attendance

Teachers have Cited issues of virtual security reasons.

Conclusion:

Part of reforms: As teachers are central to any change in the education system, they should not be left out of the realm of the reforms underway.

Incentivisation: The government could think of employing effective motivation and small-scale incentivisation to find a middle ground and make them partners in the ongoing journey.

International Year of Millets (IYM) 2023

(GS-III: Agriculture)

In News:

2023 has been declared as IYM by the UN on a proposal by India with the aim to create awareness about the health benefits of millet.

Benefits of Millets:

Nutritional Security: cheap and more nutritious. E.g. Ragi has the highest calcium content and high iron content can fight the high prevalence of anaemia.

Climate Resilient: they are known as hardy and drought-resistant crops, which has to do with their

Economic Security: low investment for inputs

Against Health Issues: Millets are gluten-free and have a low glycemic index (glucose level) and therefore can help in tackling lifestyle problems and health challenges such as obesity and diabetes.

Millets have antiaging and antioxidant

Challenges:

Preference for Wheat as staple food: Wheat because of gluten makes softer food and is more liked.

Government policies: National Food Security Act promotes wheat and rice

Lack of awareness about the benefit of Millet

Other challenges: lack of input subsidies and price incentives, and changing consumer preferences.

Initiatives in India:

Government declared (in 2018) millets as “Nutri-Cereals”, considering their “high nutritive value” and also “anti-diabetic properties”.

The 2018 year: ‘National Year of Millets”.

Increase in MSP for millets

Government has included millets in the public distribution system (PDS) and POSHAN Abhiyan.

Millet Mission (under the National Food Security Mission): It will help develop farm-gate processing and empower farmers using FPOs.

Kerala State Agriculture Department: Millet Village scheme

Millet Startup Innovation Challenge

A contest for designing a comic story, with the theme ‘India’s Wealth, Millets for Health’

Other Initiatives for millets:

SCO: India proposed to organize the “Millet Food Festival’

Conclusion:

In view of the impact of climate change and government aim for climate-smart agriculture, Millets deserves encouragement. It can also help in providing nourishment to people across all income categories and supporting climate adaptation of rainfed sustainable farming systems.