DAILY CURRENT AFFAIRS

By admin: Oct. 29, 2022

India to contribute 5 lakh dollars to the UN Trust Fund for Counter terrorisms

Tags: Summits

The Minister for External Affairs S. Jaishankar has announced on 29 October 2022 that India will contribute $ 5, 00,000 to the United Nations Trust Fund for Counter Terrorism efforts to counter global terrorism.

He was speaking at the special session of the United Nations Security Council Counter-Terrorism Committee being hosted by India. It is for the first time that the UN Security Council Counter-Terrorism Committee meeting is being held outside New York, United States.

First Counter-Terrorism Committee meeting held outside New York

India is at present the chairman of the UN Security Council’s Counter-Terrorism Committee and it hosted the two day meeting at Mumbai and New Delhi on 28 October and 29 October respectively. 

The meeting started on 28 October 2022 in Mumbai which witnessed a massive terror attack in 2008 that left 140 Indian nationals and 26 citizens of 23 other countries dead by terrorists who had entered India from Pakistan.

The meeting moved to New Delhi on 29 October for its final session.

Focus area of the Counter-Terrorism Committee meeting 

The discussion focused on three areas:

•  Internet and social media;
•  financing for global terror networks; and 
• The proliferation of unmanned aerial systems, such as drones.

Participants of the meeting 

According to the Ministry of External Affairs which is hosting the meeting, UNSC members, including the 15 present and 5 new non-permanent member who will join the Security Council next year, leading experts from the UN's operational partners and specialized agencies participated in the meeting.

Minister’s speech 

Speaking on the occasion the External Affairs Minister warned about the threat posed by the misuse of new and emerging technologies for terror activities, stressing the need for the international community to adopt measures to combat the threats.

“Internet and social media platforms have turned into potent instruments in the toolkit of terrorist and militant groups for spreading propaganda, radicalization and conspiracy theories aimed at destabilizing societies,” he said in his keynote address.

United Nation Security Council Counter-Terrorism Committee 

The Counter-Terrorism Committee was established by unanimous consent on 28 September 2001, in the wake of the 11 September terrorist attacks in the United States.

All the 15 Security Council members are part of the Counter-Terrorism Committee.

The Committee is tasked with monitoring the implementation of measures to enhance countries’ legal and institutional counter-terrorism abilities, at every level, locally and internationally.

Indian Navy participates in the first Trilateral Naval exercise with Mozambique and Tanzania Navies

Tags: Defence

The first trilateral naval exercise (IMT TRILAT) between Indian, Mozambican and Tanzanian navies commenced at Dar Es Salaam, Tanzania on 27 Oct 2022. It is the first time that the Indian Navy is participating in an exercise with these navies.

The exercise will be held from 27 to 29 October 2022 which includes harbour and sea phases.

The Indian Navy is being represented by the guided missile frigate, INS Tarkash, a Chetak helicopter and special commando unit of the Indian Navy, MARCOS (Marine Commandos).

SEBI reduces the face value on debt securities to Rs 1 Lakh

Tags: Economy/Finance

The Capital and Commodity markets regulator Securities Exchange Board of India (SEBI) on 28 October 2022, reduced the face value of debt security and non-convertible redeemable preference shares issued on private placement basis to Rs 1 lakh from the current Rs 10 lakh. 

The new guidelines will be applicable from 1 January 2023.

According to SEBI this has been done to increase the participation of investors and which will also enhance the liquidity in the corporate bond market.

What is a Debt securities?

Debt securities is a type of financial document which is issued by a company to borrow money  from the market .The issuers of the debt securities promise that it will  return the money  after a certain time period and  will also pay mentioned  interest on the borrowed money . Some of the examples of the debt securities are bonds, debentures etc. 

What is the face value, tenure and coupon rate of a securities?

Face value is the nominal value which is written on the securities issued by a company. For example a company issues a bond of Rs 100 for a period of 5 years and with an interest rate of 10%. 

Here the face value of the bond will be Rs 100.

The time period for which it is borrowed is called tenure. Here in the example the tenure of the bond will be 5 years.

Rate of Interest mentioned on the bond is called the coupon rate. In this example the coupon rate is 10%.

What is Public and Private Placement of securities?

There are two options for a company which wants to raise capital from the market by selling its securities (shares, bonds, etc). The company can either go for Public offer or can opt for Private placement of its securities.

Public offer means that the company will have to come out with an Initial Public offerings (IPO). The company has to hire a merchant banker which handles the sale of the company's securities to the general public.

IPO refers to the sale of securities of the company for the first time to the public and after the IPO the company's securities are listed on a stock exchange.  Public offering is a time consuming process and also costly for the company. 

Private Placement 

There is another option for the company. The company can directly approach select investors like Banks, Mutual funds, High Net worth Investors (HNI) and sell the company securities to them.   The company does not need to list security on a stock exchange after the private placement. 

This method is less time consuming and less costly for the company .

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

Kerala to cull 20,000 birds after Avian flu outbreak in Alappuzha

Tags: place in news Science and Technology State News

The Alappuzha district administration in Kerala has started the culling of around 20,000 birds in the Haripad municipality area to control the spread of the Avian flu outbreak.

The district administration started the operation from 27 October 2022 after the sample of dead birds from the area was sent to the National Institute of High Security Animal Diseases (NIHSAD), Bhopal tested positive for H5N1 virus.

Birds within one kilometer of the infection area will be killed and the authorities have already imposed a ban on the transportation of birds within 1 kilometer area. 

Center sends a high level delegation

The Union Ministry of Health has already sent a high-level team headed by Dr Rajesh Kedamani to Kerala to investigate the outbreak in detail and submit a report with immediate recommendations for prevention and control.

The seven-member team comprises experts drawn from the National Institute of Tuberculosis and Respiratory Diseases, New Delhi; the National Centre for Disease Control, New Delhi; the National Institute of Epidemiology, Chennai; and the All India Institute of Medical Sciences, New Delhi.

Bird Flu and its Impact on Human 

• Avian influenza or bird flu refers to the disease caused by infection with avian (bird) influenza (flu) Type A viruses. These viruses naturally spread among wild aquatic birds worldwide and can infect domestic poultry and other bird and animal species.
• Infected birds shed virus through saliva, mucus and feces. The virus can affect human beings through eyes, nose or mouth.
• Bird flu viruses do not normally infect humans. However, sporadic human infections with bird flu viruses have occurred. According to the World Health Organisation , Humans can be infected with  avian influenza virus subtypes A(H5N1), A(H7N9), and A(H9N2) .

First Global Digital Health Summit, Expo, and Innovation Awards held in New Delhi

Tags: place in news Summits

The first ever two day (28&29 October 2022) Global Digital Health Summit, Expo, and Innovation Awards is being held in New Delhi.

The summit has been organized in association with the world's foremost digital health associations; The Global Health Connector Partnership, The International Society for Telemedicine & Health, Switzerland, and  United Nations Internet Governance Forum- Dynamic Coalition on Digital Health.

Global leaders in digital health and healthcare from across the USA, European Union, Africa, UK, and Southeast Asia are participating in the Summit.

Theme of the Global Digital Health Summit, Expo, and Innovation Awards: Digital Health for All  

What is Digital Health?

Digital health refers to the use of information and communications technologies in medicine and other health professions to manage illnesses and health risks and to promote wellness. 

Digital health has a broad scope and includes the use of wearable devices, mobile health, telehealth, health information technology, and telemedicine. 

Saras Food Festival 2022 inaugurated by the Union Minister Faggan Singh Kulaste

Tags: Festivals place in news Person in news

The Union Minister of State for Rural Development and Steel, Faggan Singh Kulaste inaugurated the “Saras Food Festival 2022” in New Delhi on 28 October 2022. The Food Festival has been organized by the Union Rural Development Ministry from 28th October to 10th November, 2022 in New Delhi.

Women from self-help groups (SHG), formed under the flagship program ‘National Rural Livelihoods Mission’ of the Union Ministry of Rural Development are participating in this festival. 

Speaking on the occasion the minister said that efforts are on to have at least 25% of all sales by women self-help groups through e-commerce portals annually.

He said that the Ministry has already signed agreements with e-commerce giants like Amazon, and Flipkart and there have been efforts by States/Union Territories in getting SHGs products registered on e-commerce platforms. e.g, Flipkart, Amazon and Meesho etc.

Nagendra Nath Sinha, Secretary, Ministry of Rural Development said that there are about 8 crore 62 lakh women are members of SHGs and they have presence in 97% of Blocks, while 85 % of them are directly connected with the network of the Ministry.

1st ASEAN-India Start-up Festival 2022 held in Indonesia

Tags: place in news Summits

Dr. Srivari Chandrasekhar, Secretary, Department of Science and Technology, inaugurated the 1st ASEAN-India Start-up Festival (AISF) on 27th October 2022 in Bogor, Indonesia.

The four-day event is being hosted in conjunction with the Indonesia Research and Innovation Expo (INA-RIE) from the 27th until the 30th October 2022 at the Innovation Convention Centre, Cibinong Bogor, Indonesia. The AISF is part of a series of events to commemorate the 30th Anniversary of the ASEAN-India diplomatic relationship.

The festival is part of the over-all ASEAN-India Science, Technology and Innovation Cooperation program between the ASEAN Committee on Science, Technology, and Innovation (COSTI) and the Department of Science and Technology (Govt of India) and is supported under the ASEAN-India Science and Technology Development Fund (AISTDF) of Govt of India which is jointly contributed by Department of Science and Technology and Ministry of External Affairs (MEA).

The festival commemorates and strengthens cooperation and collaboration in science, technology, and innovation between the ASEAN countries and India.

ASEAN (Association of SouthEast Asian Nation) is a regional organization which was set up in 1967. It is an association of 10 countries of Southeast Asia namely; Indonesia, Philippines, Brunei, Thailand, Vietnam, Malaysia, Singapore, Laos, Cambodia, Myanmar.

Headquarters of ASEAN: Jakarta, Indonesia. 

Ministry of Corporate Affairs organises an Investor Education, Awareness and Protection Conference in Srinagar

Tags: place in news Summits Economics/Business State News

The Investor Education and Protection Fund Authority (IEPFA) under the Ministry of Corporate Affairs organised an Investor Education, Awareness and Protection Conference in Srinagar, Jammu & Kashmir on 28 October 2022. The Conference was inaugurated by Chief Guest, Union Minister of State for Ministry of Corporate Affairs Rao Inderjit Singh.

 During the conference the minister launched various initiatives of the IEPFA.

• The IEPFA Mascot “Fundoo” was released. 
• “Niveshak Didi” or female dakiya,  is a joint venture of IEPF Authority with India Post Payment Bank wherein Investor Education will be promoted in “By the women, for the women” concept.
• “Niveshak Sarathi”, an investor awareness van was flagged by the minister. It is an initiative by IEPFA to promote financial literacy among people in far-flung areas by spreading knowledge through dedicated audio-visual and print material & a specially designed Van.
• “Investors’ Handbook” - a concise compilation of information on savings, budgeting, and investments which provides a vast knowledge of financial instruments.

The Investor Education and Protection Fund Authority (IEPFA)

It was set up by the Government of India on 7 September 2016 under the Companies Act 2013, to administer the Investor Education and Protection Fund.

Investor Education and Protection Fund 

The fund was set up under the Companies act in 1999 under the Union Ministry of Corporate Affairs. The main aim of the Fund is to promote investors’ awareness and protection of the interests of investors. Here investor means those who have invested in companies shares, debentures, fixed deposits etc.

Source of Fund 

The following amounts that remained unpaid and unclaimed by the investor  for a period of seven years from the date they became due for payment are credited to the Fund:

• Amounts in the unpaid dividend accounts of the companies
• The application moneys received by companies for allotment of any securities and due for refund
• Matured deposits with companies
• Matured debentures with companies
• Grants and donations given to the fund by the Central Government, State Governments, companies or any other institutions for the purposes of the Fund;
• And, the interest or other income received out of the investments made from the fund.

Indian Ministry of Defence is the largest employer in the world: Statista

Tags: Defence

According to the German Statista infographic, the Union Defence Ministry is the world's biggest employer with 2.92 million people as employees. The Statista report on ‘Employers with the largest workforce worldwide 2022” has included the active service personnel, reservists and civilian staff in the Defence ministry personnel list.

Statista is a Hamburg-based private organisation that provides data and statistics about various issues worldwide.

The American Department of Defense which employs 2.91 million personnel comes second in the list.

The Chinese Military Commission which is equivalent to the Defence ministry in India employs around 6.8 million people. But it was not included in the list as there was doubt over its data.

Largest private sector employer 

According to Statista, amongst the private sector, Walmart is the largest employer with 2.3 million personnel.

Amazon is the second largest employer with 1.6 million personnel.

World’s largest armed forces 

According to Statista the largest military personnel based on active services personnel is China.

The top 10 largest militaries based on active personnel: 

1. China - 2,000,000
2. India - 1,450,000
3. United States - 1,390,000
4. North Korea - 1,200,000
5. Russia - 850,000
6. Pakistan - 640,000
7. Iran - 575,000
8. South Korea - 555,000
9. Vietnam - 470,000
10. Egypt - 450,000

PM Modi calls for ‘one Nation One uniform’ for police at the Chintan Shivir held in Surajkund

Tags: place in news Summits

Prime Minister Narendra Modi in his virtual address to the Chintan Shivir of state home ministers on 28 October 2022, suggested the idea of “One Nation, One Uniform" for police to have uniformity among various forces.

The two day (27&28 October) Chintan Shivir at Surajkund, Haryana, chaired by the Union Home Minister Amit Shah was attended by chief ministers of eight states and home ministers and deputy chief ministers of 16 states. Home Secretaries and Director General of Police (DGPs) of the States, Director Generals of Central Armed Police Forces (CAPFs) and Central Police Organisations (CPOs) also attended the Shivir.  

Speaking on the occasion the Prime Minister said he thinks that the identity of the police across the country could be identical.

He also urged the state governments to review old laws and amend them to the current context as he batted for coordinated action by all the agencies to meet the emerging challenges of law and order and security.

Police a state subject 

Law and Order, Police is a state subject in India and the central government has no power on the matter. It is for the state government to decide the uniform of the state police and the uniform of the policies varies across the states in the countries.