KERALA
Kerala government set to amend cooperation laws soon
The cooperation department will strengthen the laws by making suitable amendments to address the irregularities and corruption in the cooperation sector, cooperation minister V N Vasavan said in a statement here. The decision has been taken in the wake of incidents of illegal activities in the sector, including the latest Karuvannur cooperative bank fraud.
The cooperation department has decided to register criminal cases against those involved in financial frauds, money swindling, loan frauds and frauds relating to gold pledging, after conducting a preliminary inquiry. The cooperation laws will be amended to incorporate sections, under which the properties of the accused will be frozen.
The cooperative vigilance will be strengthened and the sections 65 and 66 of the Cooperation Act will be amended so that cases of criminal nature can be reported immediately to the police and the vigilance. The laws will also be amended by which the cooperation vigilance will be empowered to suo-motu conduct searches in cooperation societies.
All the societies that have a working capital of more than Rs 250 crore will be clubbed as a unit and an audit team consisting of three members will examine the accounts of such bodies. The transfers of the officials of the department will be on the basis of clear guidelines, all the officials who are working on working arrangement basis will be sent back to the districts soon.
INTERNATIONAL
Vaidehi Dongre Crowned as Miss India USA
Vaidehi Dongre, a 25-year-old young lady from Michigan, has been delegated Miss India USA 2021 at the excellence event. Arshi Lalani from Georgia was pronounced the primary next in line and North Carolina’s Mira Kasari was proclaimed the second place.
NATIONAL
Juvenile Justice Care and Protection of Children Amendment
The Rajya Sabha has passed the juvenile justice (care & protection of children) amendment bill. It was previously approved by the lower house in March 2021. The purpose of the bill is to amend the Juvenile Justice Act of 2015.
The amendments include authorizing district magistrates (including additional district magistrates) to issue adoption orders under section 61 of the Juvenile Justice Act to ensure that cases are handled quickly and to strengthen accountability.
The District Magistrates have been given additional authority to ensure its smooth implementation and to coordinate efforts in support of children in distress.
Under the amended provisions of the Act, any Child Care Institution must be registered after considering the District Magistrate’s recommendations.
The criteria for appointing members of the Child Welfare Committee have been revised. There are also disqualification criteria for the same.
It has been decided that offences where the maximum sentence is more than 7 years in prison but no minimum sentence has been prescribed or a minimum sentence of less than 7 years is provided will be treated as serious offences under this Act.
IFSCA Regulations 2021 – Financial Services
International Financial Services Centre (Capital Market Intermediaries) Authority Regulations 2021 is in news.
IFSCA proposes enacting a regulatory framework for capital market intermediaries operating in IFSC, with a focus on ease of doing business and in accordance with the fundamental principles established by the International Organization of Securities Commissions.
The proposed IFSCA (Capital Market Intermediaries) Regulations, 2021 (Intermediaries Regulations) provide, among other things, for regulatory requirements regarding registration, obligations and responsibilities, inspection, and enforcement of various types of capital market intermediaries such as clearing members, broker dealers, investment bankers, depository participants, portfolio managers, and investment advisers, credit rating agencies, custodians, debenture trustees and account aggregators.
Project BOLD by KVIC and BSF
KVIC and BSF launch Project BOLD in Jaisalmer to combat desertification and boost the rural economy.
About BOLD:
The project called “Bamboo Oasis on Drought Lands” (BOLD) is the first exercise of its kind in India and was launched on July 4, 2021 from the tribal village of Nichla Mandwa in Udaipur, Rajasthan.
Project Bold is a one-of-a-kind scientific exercise with the dual national goals of reducing desertification and providing livelihood and multi-disciplinary rural industry.
Its goal is to increase tribal peoples’ income while also addressing environmental concerns.
It is in line with Prime Minister Narendra Modi’s call to reduce land degradation and prevent desertification in the country by establishing bamboo-based green patches of land in arid and semi-arid areas.
The project was initiated by the Khadi and Village Industries Commission (KVIC), which is part of the Ministry of Micro, Small, and Medium Enterprises.
It has been launched as part of KVIC’s “Khadi Bamboo Festival” to celebrate the 75th anniversary of independence “Azadi ka Amrit Mahotsav”.
First Stage of Cycles4change Challenge
The list of awardees for the India Cycles4change stage 1 programme was announced by the Ministry of Housing and Urban Affairs.
Highlights:
The government has bestowed the prestigious title of India’s Top 11 Cycling Pioneers on 11 cities.
The award marks the start of the next season of the Cycles4Change Challenge in India. 107 cities across the country have gathered to test, learn and promote different Cycling -friendly programs.
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