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By admin: Aug. 30, 2023

MoU signed by Ministry and National Safai Karamcharis Finance and Development Corporation (NSKFDC)

Tags: Latest

The Ministry of Social Justice and Empowerment and National Safai Karamcharis Finance and Development Corporation (NSKFDC) signed a Memorandum of Understanding (MoU) for the financial years 2023-24 and 2024-25.

An Overview of the News

• The collaboration aims to uplift sanitation workers, manual scavengers, waste pickers and their dependents across India.

• The MoU focuses on inclusive growth and effective fund allocation for targeted welfare programmes.

• The partnership emphasizes initiatives on protection, education, skill development, entrepreneurship and sustainable employment opportunities for these marginalized communities.

• NSKFDC, a premier organization dedicated to this purpose, will work closely with the Ministry to ensure transparent and effective utilization of the allocated funds.

• The goal is to combine expertise and resources for effective implementation of programs that empower these marginalized groups.

About NSKFDC

• Establishment: Incorporated on 24 January 1997

• Managing Director: Prabhat Kumar Singh

• Affiliation: Wholly owned by Government of India

• Ministry: Operates under the Ministry of Social Justice and Empowerment (M/O SJ&E)

• Legal Status: Registered as a non-profit company under Section 25 of the Companies Act, 1956

• Function: Active since October 1997, working for the upliftment of sanitation workers, sweepers and their dependents across India.

• Mission: Actively involved in the eradication of manual scavenging, a symbol of untouchability.

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Bhaderwah Rajma and Ramban Sulai honey get GI tag in Jammu and Kashmir

Tags: State News

Bhaderwah Rajma and Ramban Sulai honey of Jammu and Kashmir were granted Geographical Indication (GI) tag.

An Overview of the News

• Department of Agriculture and Farmers Welfare, Jammu started the GI tagging process for these products.

• GI tag provides exclusive use rights to authorized users while preventing unauthorized exploitation.

• This recognition is expected to increase exports, increase brand presence internationally and prevent misuse.

• The GI tag is set to benefit local economies and promote socioeconomic development for producers.

What is GI Tag?

• A geographical indication (GI) is a name or sign given to products coming from a specific geographical location.

• GIs certify that products are made using traditional methods or have specific qualities due to their origin.

• It is used for food, handicrafts and industrial products.

• The GI tag ensures that only authorized users can use the product name.

Who grants and regulates Geographical Indications?

• These are a type of Intellectual Property Rights (IPRs) recognized and protected under the Paris Convention for the Protection of Industrial Property.

• The World Trade Organization (WTO)'s Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) provides a framework for the protection of GIs at the international level.

• In India, registration and protection of GIs is governed by the Geographical Indications of Goods (Registration and Protection) Act, 1999, which came into effect in September 2003.

About Jammu and Kashmir

• Jammu and Kashmir was a state of India until August 2019, when it was bifurcated as two union territories named Jammu and Kashmir and Ladakh on 31 August 2019.

• Capital- Srinagar (May-October), Jammu (November-April)

• Lieutenant Governor - Manoj Sinha

• Legislative Council - 36 seats

• Legislative Assembly - 89 seats

India and New Zealand signed MoU to enhance cooperation in the field of civil aviation

Tags: International News

India and New Zealand recently formalized a cooperative agreement through a Memorandum of Understanding (MoU) to strengthen their cooperation in the field of civil aviation.

An Overview of the News

• The MoU covers a wide scope of cooperation, focusing on key aspects such as the facilitation of new flight routes, the establishment of codeshare services, the allocation of traffic rights, and the determination of capacity entitlements.

• Eminent officials present: The signing ceremony took place in the capital of India, New Delhi with the presence of eminent officials from both countries. Civil Aviation Secretary Rajeev Bansal and New Zealand High Commissioner David Paine were the signatories to the MoU.

• The event was attended by key ministers including India's Civil Aviation Minister Jyotiraditya Scindia and New Zealand's Trade and Export Development Minister Damian O'Connor.

Major Provisions for Airlines

• The MoU outlines specific provisions to benefit New Zealand's airlines. New Zealand's designated airlines are permitted to operate an unrestricted number of services using any type of aircraft.

• New Zealand airlines have also been granted third and fourth freedom traffic rights for connectivity to six major Indian cities: New Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, and Kolkata.

• Indian airlines designated by the agreement are similarly provided with enhanced operational freedom. They have the authority to operate unlimited services with any type of aircraft.

• Additionally, Indian airlines have been granted third and fourth freedom traffic rights to travel to and from important New Zealand cities: Auckland, Wellington, and Christchurch. In addition, the Government of India will later designate three additional destinations in New Zealand for equal traffic rights.

The President of India released a postage stamp in memory of Dadi Prakashmani

Tags: Person in news

The President of India Draupadi Murmu unveiled a postage stamp honoring the legacy of Dadi Prakashmani.

An Overview of the News

• The event took place on August 25, 2023, at the Rashtrapati Bhavan Cultural Centre.
• The release of the postage stamp was part of the 'My Stamp' initiative of the Department of Posts, Ministry of Communications.
• The initiative was a tribute to Dadi Prakashmani on her 16th death anniversary.

Grandma Prakashmani's contribution and legacy:

• Dadi Prakashmani contributed significantly to spreading Indian values and culture globally through spirituality.
• Under her leadership, the Brahma Kumaris grew into the world's largest women-led spiritual organization.
• Dadi Prakashmani displayed strong leadership qualities by supporting the Brahma Kumaris community with faith and courage during challenging times.

"My Stamp":

• It is a personalized postage stamp service of India Post.

• This involves printing a small customer's photo, logo, artwork or images of various subjects onto a template sheet of postage stamps.

• The purpose of this service is to add a personal touch to postage stamps.

• It was launched during the 'INDIPEX-2011' World Philatelic Exhibition.

• It is available at Philatelic Bureaux, counters, important post offices, and tourist places.

• Allows customization with images of heritage sites, tourist places, wildlife, birds, and more.

Umesh Revankar named FIDC Chairman

Tags: Person in news

Umesh Revankar, the current Executive Vice-Chairman of Shriram Finance Limited, has been appointed as the new Chairman of the Finance Industry Development Council (FIDC), the leading Indian NBFC financing body.

An Overview of the News

• FIDC is the representative body of Non-Banking Financial Companies (NBFCs) engaged in asset and debt financing in India.

• The appointment was made by a unanimous decision of the Managing Committee during its meeting held in Mumbai.

• Umesh Revankar's two-year term as FIDC Chairman begins on August 23, 2023.

• In addition to his position at Shriram Finance, Revankar also holds directorship roles in several other companies within the Shriram Group including Shriram Automall India Limited, Shriram General Insurance Company Limited, and Shriram Life Insurance Company Limited.

About Finance Industry Development Council (FIDC)

• Role: Self-regulatory organization (SRO) and representative body for Non-Banking Finance Companies (NBFCs) in India.

• Establishment: 2004

• Accreditation: Registered with the Reserve Bank of India.

• Focus: Advocating NBFCs involved in asset and debt financing.

• Interaction: Regular interaction with RBI and the Government of India, including pre-budget meetings and policy discussions.

• Headquarters: Mumbai

• Director General: Mahesh Thakkar

• Presence: Regional Chapters and Affiliated Associations across India.