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Weekly Current Affairs 8th To 14th December 2019

Weekly Current Affairs 8th To 14th December 2019

National News

Global Migration Film Festival (GMFF)

  • The festival was organised by the International Organisation of Migrants (IOM) and Dhaka University Film Society with the support of the European Union.
  • IOM was established in 1951, is the UN migration agency that works to ensure orderly and humane management of the migration issue.

Government amended IEPFA Rules, 2016

  • The government has amended the Investor Education & Protection Fund (Accounting, Audit, Transfer and Refund) Rules 2016.
  • The amended rules inter-alia provide for digitisation with transparent and faceless processing of claims by the Authority.

Arms (Amendment) Bill 2019

  • Increase the quantum of penalties for violations of the law to prison time between 10 years to life imprisonment. Illegal manufacturing, sale, conversion, repair, import/export would attract 7 years to life imprisonment.
  • Increases the duration of the validity of arms license from 3 years to 5 years.

Govt authorised NHAI to set up Infrastructure Investment Trust

  • The Ministry of Road Transport and Highways has given the proposal to set up the Infrastructure Investment Trust.
  • The setting up of the Infrastructure Investment Trust (InvIT) is approved as per Guidelines issued by Securities and Exchange Board of India, SEBI.

Social Security Code Bill

  • This bill was approved by Union Cabinet last week to pave the way for Universalisation of social security for 50 crore workers in the country.
  • After this bill came in effect, organised sector employees will be relieved as their Provident fund contribution will be decreased and return would increase.

AP govt to bring New Laws to Protect Women & Children

  • The draft DISHA ACT contains the provision for harsher punishments, including death sentence, to those guilty of heinous crimes against women.
  • Once the bill is passed, Andhra Pradesh will become the first state in India to have capital punishment for rape cases.

7th Economic Census

  • The economic census is being carried out by the Ministry of Statistics and Programme Implementation (MoSPI) that has a tie-up with Common Service Centre.
  • For the first time, the entire census is being conducted on an IT-based digital platform to ensure high accuracy and data security.

Banking

Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019

  • The amendment aims to boost investment in financially distressed sectors by removing bottlenecks and streamlining the Corporate Insolvency Resolution Process (CIRP).
  • In order to prevent frivolous triggering of CIRP, additional thresholds for Financial Creditors represented by an authorized representative has been introduced.

Cabinet approves "Partial Credit Guarantee Scheme"

  • The window for one-time partial credit guarantee will remain open till 30th June 2020 or till such date by which Rs. 1 lakh crore assets get purchased by the Banks, whichever is earlier.
  • The Finance Minister announced in the Budget 2019-20 that the Government will provide one time six months' partial credit guarantee to Public Sector Banks for the first loss up to 10%, for purchase of high-rated pooled assets of financially sound NBFCs, amounting to a total of Rs 1 lakh crore during the current financial year.

Index and Ranking

Climate Change Performance Index (CCPI)

  • India ranked 9th in the current levels of per capita emissions and energy use, showing that emissions are still comparatively low.
  • The index is jointly presented by German watch, New Climate Institute and Climate Action Network.
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