DAILY CURRENT AFFAIRS IAS | UPSC Prelims and Mains Exam – 19th September 2023
Archives (PRELIMS & MAINS Focus) Serious Fraud Investigation Office (SFIO) Syllabus Prelims –ECONOMY Context: Serious Fraud Investigation Office (SFIO), arrested a Chartered Accountant in Hyderabad recently. Background:- Shri Nalin Prabhat Panchal, a Chartered Accountant by profession was arrested for failure to honour the summons issued in connection with the prosecution of Nityank Infrapower & Multiventures Private Limited. About Serious Fraud Investigation Office (SFIO):- Ministry: Ministry of Corporate Affairs. HQ: New Delhi. Establishment: As per the Companies Act, 2013, the Serious Fraud Investigation Office (SFIO) has been established through the Government of India Notification dated 07.2015. It is a multi-disciplinary organization, consisting of experts in the field of accountancy, forensic auditing, banking, law, information technology, investigation, company law, capital market and taxation, etc. Objective: It works for detecting and prosecuting or recommending for prosecution white-collar crimes/frauds. (Shell Companies) It has five Regional Offices in Mumbai, New Delhi, Chennai, Hyderabad & and Kolkata. Composition:- Headed by: a Director as Head of Department in the rank of Joint Secretary to the Government of India. The Director is assisted by Additional Directors, Joint Directors, Deputy Directors, Senior Assistant Directors, Assistant Directors Prosecutors, and other secretarial staff. Functions:- Take up for investigation cases characterized by complexity and having inter-departmental and multi-disciplinary ramifications. substantial involvement of public interest to be judged by size, either in terms of monetary. the possibility of investigation leading to or contributing towards a clear improvement in systems, laws, or procedures. Investigate serious cases of fraud received from the Department of Company Affairs. Investigate the affairs of a company on: – on receipt of a report of the Registrar or inspector under section 208 of the Companies Act, 2013. on intimation of a special resolution passed by a company that its affairs are required to be investigated. in the public interest. on request from any department of the Central Government or a State Government. MUST READ: CBI and ED SOURCE: AIR PREVIOUS YEAR QUESTIONS Q.1) Consider the following statements: (2022) In India, credit rating agencies are regulated by the Reserve Bank of India. The rating agency popularly known as ICRA is a public limited company. Brickwork Ratings is an Indian credit rating agency. Which of the statements given above is correct? 1 and 2 only 2 and 3 only 1 and 3 only 1, 2 and 3 Q.2) With reference to the ‘Banks Board Bureau (BBB)’, which of the following statements is correct? (2022) The Governor of RBI is the Chairman of BBB. BBB recommends the selection of heads for Public Sector Banks. BBB helps Public Sector Banks develop strategies and capital-raising plans. Select the correct answer using the code given below: 1 and 2 only 2 and 3 only 1 and 3 only 1, 2 and 3 Kalaignar Magalir Urimai Thogai Syllabus Prelims –GOVERNMENT SCHEMES Context: Recently, the Tamil Nadu government has identified 1.06 crore women, who are eligible to benefit from the Kalaignar Magalir Urimai Thogai (women’s basic income) scheme. Background:- Chief Minister M.K. Stalin launched the scheme in Kancheepuram on September 15, the birth anniversary of the former CM. C.N. Annadurai. About Kalaignar Magalir Urimai Thogai:- Launched: September,2023. Launched by: Government of Tamil Nadu. Kalaignar Magalir Urimai Thittam is a scheme through which a monthly grant is to be provided to eligible women heads of households. Under this program, qualified women are entitled to a monthly rights grant of Rs 1,000, totaling Rs 12,000 annually. It will be effective from 15, September 2023. Objective: to give women economic recognition, and empowerment. Background:- The scheme was one of the poll promises of the ruling DMK government in 2021. During the State Budget presentation in March this year, the then Finance Minister Palanivel Thiaga Rajan announced that ₹7,000 crore would be allotted for the scheme for the current financial year. Initially, an estimated 2.2 crore women heads of families, all ration card holders were expected to benefit from this scheme. However, now the government has indicated an estimated one crore women heads of families would receive the rights grant. Eligibility:- Beneficiary families should meet the following economic criteria:- Annual income below ₹2.5 lakh. Ownership of less than five acres of wetland or less than ten acres of dryland. Consumption of less than 3,600 units of electricity per year for domestic use. Significance:- This initiative aims to enhance the economic well-being and living standards of women, ultimately fostering societal self-respect. Once implemented, will be one of the biggest cash transfer schemes implemented by any State government in India’s history. MUST READ: SAMARTH initiative for women SOURCE: THE HINDU PREVIOUS YEAR QUESTIONS Q.1) Which of the following statements is/are correct regarding the Maternity Benefit Amendment Act, 2017? (2019) Pregnant women are entitled to three months of pre-delivery and three months of post-delivery paid leave. Enterprises with creches must allow the mother a minimum of six creche visits daily. Women with two children get reduced entitlements. Select the correct answer using the code given below. 1 and 2 only 2 only 3 only 1, 2 and 3 Q.2) With reference to the ‘stand up India scheme’, which of the following statements is/are correct? (2016) Its purpose is to promote entrepreneurship among SC/ST and women entrepreneurs. It provides for refinancing through SIDBI. Select the correct answer using the code given below. 1 only 2 only Both 1 and 2 Neither 1 nor 2 Flood Syllabus Prelims –DISASTER MANAGEMENT Context: The flood in Narmada following the release of water in Narmada Dam displaced thousands in Gujarat recently. Background:- The Narmada and other rivers are in full spate as severe rains pounded portions of Gujarat on 17, September, 2023. The rivers inundated several low-lying areas and cut off many villages in the central and southern regions of the state. About Flood:- A high water level that overflows the natural banks along any portion of a stream is called a flood. They are the most frequent type of natural disaster. They occur when an overflow of water submerges land that is usually dry. Risks: Floods can cause
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