SEBI reconstitutes Four-member Takeover Panel
Markets regulator Security and Exchange Board of India (SEBI) has reconstituted its four-member Takeover Panel. The Takeover Panel looks into the applications that seek exemption from the mandatory open offer that an acquirer needs to make to minority shareholders. SEBI has appointed N Venkatram MD and CEO, Deloitte India as the new member of this Takeover Panel. SEBI had first constituted this Takeover Panel in November 2007, under the chairmanship of former Bank of Baroda chairman K Kannan.
The Members of the Panel are:
- Chairman: Justice N. K. Sodhi (Former Chief Justice of High Courts of Karnataka & Kerala and Former Presiding Officer of the Securities Appellate Tribunal);
- Member: Darius Khambata (Former Advocate General, Maharashtra);
- Member: Thomas Mathew T (Former chairman of Life Insurance Corporation of India);
- Member: N Venkatram (MD and CEO, Deloitte India).
Important takeaways for all competitive exams:
- Securities and Exchange Board of India Founded: 12 April 1992.
- Securities and Exchange Board of India Headquarters: Mumbai.
- Securities and Exchange Board of India Agency executive: Ajay Tyagi.
India was fifth largest recipient of FDI in 2020: UN Report
As per the World Investment Report 2021 by the UN Conference on Trade and Development (UNCTAD), India was the fifth-largest recipient of Foreign Direct Investment (FDI) inflows in the world in 2020. The country received USD 64 billion FDI in 2020, which is an increase of 27 per cent, over USD 51 billion inflows in 2019.
The United States remained the largest recipient of FDI, although, the FDI inflow to the country decreased by 40 per cent, to $156 billion, in 2020. China was the second-largest recipient with USD 149 billion FDI. The global FDI flows decreased by 35 per cent in 2020 to USD 1 trillion from USD 1.5 trillion in 2019.
Bihar government launches ‘Mukhya Mantri Udyaymi Yojana’
Bihar Chief Minister Nitish Kumar has launched two ambitious schemes christened as the ‘Mukhya Mantri Yuva Udyaymi Yojna’ and the ‘Mukhya Mantri Mahila Udyami Yojana. Both the schemes launched to promote entrepreneurship among youth and women of all sections under the state’s ‘Mukhaya Mantri Udyami Yojana scheme. The schemes were promised by the chief minister during the 2020 Bihar elections.
Youth and Women-irrespective of caste and creed, wishing to start entrepreneurship, will get a loan of Rs 10 lakh, in which Rs 5 lakh would be a grant from the state government and the rest Rs 5 lakh will come as a loan, refundable in 84 instalments. He also launched a portal on which youth and women from all sections can register themselves for availing of the loan from the government.
Important takeaways for all competitive exams:
- Chief Minister of Bihar: Nitish Kumar; Governor: Phagu Chauhan.
Sumita Mitra honoured with prestigious European Inventor Award
Indian-American chemist Sumita Mitra has been honoured with the European Inventor Award 2021 in the ‘Non-European Patent Office countries’ category. She was the first to have successfully integrated nanotechnology into dental materials to produce stronger and more aesthetically pleasing fillings.
The award, one of Europe’s most prestigious innovation prizes, is presented annually by the European Patent Office (EPO) to recognise outstanding inventors from Europe and beyond.
India, Japan conduct bilateral naval exercise in Indian Ocean
Ships of the Indian Navy and Japanese Maritime Self-Defense Force (JMSDF) participated in a joint naval exercise at the Indian Ocean to realize “Free and Open Indo-Pacific (FOIP). “JS KASHIMA (TV3508) and JS SETOYUKI (TV3518) conducted a bilateral exercise with INS KULISH (P63) at the Indian Ocean. Naval cooperation between India and Japan has increased in scope and complexity over the years.
Naval cooperation between India and Japan has increased in scope and complexity over the years. Last year, in the month of September, the Indian Navy and JMSDF conducted a three-day naval exercise JIMEX-2020. It was the 4th edition of the India-Japan maritime bilateral exercise JIMEX.
Important takeaways for all competitive exams:
- Japan Capital: Tokyo;
- Japan Currency: Japanese yen;
- Japan Prime minister: Yoshihide Suga.
World Humanist Day: 21 June
World Humanist Day is celebrated every year around the world on the June solstice, which usually falls on June 21. The day aims to spread awareness of Humanism as a philosophical life stance and means to effect change in the world.
The day has been organised by the International Humanist and Ethical Union (IHEU), since 1980. IHEU is the global federation for Humanist, atheist, rationalist, ethical culture, secularist and other freethought groups.
Important takeaways for all competitive exams:
- International Humanist and Ethical Union President: Andrew Copson;
- International Humanist and Ethical Union Founded: 1952;
- International Humanist and Ethical Union Headquarters: London, United Kingdom.
Tadang Minu becomes 1st Arunachali Woman to be appointed in AIBA
Arunachal Pradesh woman, Dr Tadang Minu, becomes the first in the state and the second Indian woman in the country to be appointed as a member of the Coaches Committee of the International Boxing Association (AIBA). She has been appointed by AIBA for her enormous knowledge and experience in the field of boxing.
Dr Tadang is currently the HOD of Physical Education at Rajiv Gandhi University(RGU) and is the chairman of the Boxing Federation of India’s Women’s Commission for two years.
Important takeaways for all competitive exams:
- AIBA Founded: 1946.
- AIBA Headquarters: Lausanne, Switzerland.
- AIBA President: Dr Mohamed Moustahsane.
World Hydrography Day: 21 June
Every year the World Hydrography Day is observed on 21 June to make the public aware of hydrography and the essential role that it plays in everyone’s life. The main objective of this day is to attract people’s attention to the work of the IHO at the international level. It is also celebrated to urge countries to work together to protect the marine environment and seek safe international navigation around the world.
The theme for 2021 WHD is “One hundred years of international cooperation in hydrography”.
The United Nations General Assembly accepted a resolution to celebrate World Hydrography Day on every June 21 in 2005. The day is organised by the International Hydrographic Organization (IHO) since 2006 to publicise the work of hydrographers and the importance of hydrography.
Important takeaways for all competitive exams:
- International Hydrographic Organization Headquarters: Monte Carlo, Monaco;
- International Hydrographic Organization Secretary-General: Dr Mathias Jonas;
- International Hydrographic Organization Founded: 21 June 1921.
British lawyer Karim Khan sworn in as ICC’s chief prosecutor
British lawyer Karim Khan was sworn as the new chief prosecutor for the International Criminal Court. He pledging to reach out to nations that are not members of the court and to try to hold trials in countries where crimes are committed. He has defended clients at international courts including former Liberian President Charles Taylor & Kenya’s Deputy President William Ruto.
Khan, a 51-year-old English lawyer, has years of experience in international courts as a prosecutor, investigator and defence attorney. He takes over from Fatou Bensouda of the Gambia, whose nine-year term ended.
Important takeaways for all competitive exams:
- International Criminal Court Founded: 1 July 2002;
- International Criminal Court Headquarters: The Hague, the Netherlands;
- International Criminal Court Member states: 123;
- International Criminal Court Working languages: English; French.
Weightlifter Laurel Hubbard will be first trans athlete to compete at Olympics
The New Zealand weightlifter Laurel Hubbard is poised to make history and headlines, as well as significant controversy, after being confirmed as the first transgender athlete to compete at an Olympic Games. The 43-year-old, who will be the fourth oldest weightlifter at an Olympics, is regarded as a genuine medal contender in the women’s super heavyweight 87kg-plus category in Tokyo.
But while her inclusion has been welcomed by trans groups, it has also been questioned by those who believe she has unfair advantages in strength and power, having gone through male puberty before transitioning in 2012.
Airtel, TCS partner for 5G network solutions
Bharti Airtel and Tata Group have announced a strategic partnership for implementing 5G network solutions for India, which will be available for commercial development from January 2022. Tata Group has developed an O-RAN (open-radio access network)-based radio and non-standalone architecture/stand-alone architecture (NSA/SA) core and has integrated a totally indigenous telecom stack, leveraging the capabilities of the group and its partners.
The NSA/SA are radio technology that controls the signalling of 5G radio. While NSA can control signalling of 5G to the 4G core, the SA can connect the 5G radio directly to the 5G core network and control signalling does not depend on the 4G network.
Airtel will pilot and deploy this indigenous solution as part of its 5G rollout plans in India and start the pilot in January 2022, as per the guidelines formulated by the government. According to sources, Tata Group will work with Indian tech companies and start-ups for hardware solutions, Tata ‘acting as a super integrator’. It can benefit from this partnership to export the technology to other countries such as Africa and Sri Lanka.
Important takeaways for all competitive exams:
- Bharti Airtel CEO: Gopal Vittal.
- Bharti Airtel Founder: Sunil Bharti Mittal.
- Bharti Airtel Founded: 7 July 1995.
- Tata Group Chairman: Natarajan Chandrasekaran
- Tata Group Headquarters: Mumbai, Maharashtra.
Tahira Kashyap Khurrana announces new book ‘The 7 Sins of Being A Mother’
Filmmaker-writer Tahira Kashyap Khurrana has announced her upcoming book about motherhood, titled “The 7 Sins of Being A Mother”. This is her fifth book and the second she wrote amid the pandemic. Last year, the filmmaker had released 12 Commandments of Being A Woman, which she finished writing during the coronavirus-induced lockdown. The writer has also penned books like Cracking The Code: My Journey in Bollywood and Souled Out.
Upasana Kamineni named ‘Ambassador of Forest Frontline Heroes’ at WWF India
WWF India has inducted Upasana Kamineni, Director, Apollo Hospitals, as “Ambassador of Forest Frontline Heroes” with the aim to appreciate the efforts of frontline workers in hospitals and in the wildlife protection space. The focus of this will be on several States across the country covering most eco-regions.
Frontline forest staff are often local community members themselves and play an important role in building an interface between communities and conservation.
Important takeaways for all competitive exams:
- WWF India Headquarters location: New Delhi;
- WWF India Founded: 1969.
No tax on cash deposits made by housewives during demo 2016
The Income Tax Appellate Tribunal (ITAT), Agra bench consisting of Judicial Member Lalit Kumar and the Accountant Member Dr Mitha Lal Meena has ruled that cash deposit made by the housewives during the demonetization scheme 2016, cannot be subject to addition if such deposits are below Rs 2.5 lakh and such amount shall not be treated as income of the assessee.
The Tribunal was considering an appeal filed by a housewife, the assessee who deposited the cash of Rs 2,11,500 in the bank account during the demonetization period. It was the case of the assessee that she had collected/saved the above-said sum from her previous saving, given by her husband, son, relatives for the purposes of her and her family’s future.
