Chairman, IBBI : Dr. M. S. Sahoo

• The Insolvency and Bankruptcy Code, 2016 (IBC) is the bankruptcy law of India. It came into force in 2016.

• It is considered as most important economic reform after GST in recent times. Aimed at creating single law for insolvency and bankruptcy.

• In India, the legal and institutional machinery for dealing with debt default has not been in line with global standards. IBC 2016 aims to change this.

• Resolving insolvency was a long process before IBC and did not offer an economically viable arrangement. IBC is a major step towards ease of doing business in India.

• IBC will boost lengthy winding up process and reduce the time and good exit option in case business could not get success.

• The insolvency resolution process should be completed within 180 days which may be extended up to 270 days in some special cases.

• Under Fast Track Corporate Insolvency resolution process, completion time is 90 days. The corporate under Fast Track are covered whose asset and income are below a prescribed level that may be prescribed by the Central Government.

• Insolvency and Bankruptcy Code (Amendment) Bill 2017 : The bill replaces an ordinance that was brought seeking to bar wilful defaulters, defaulters whose dues had been classified as non-performing assets (NPAs) for more than a year, and all related entities of these firms from participating in the resolution process.

• Set up on 1st October 2016 under the Insolvency and Bankruptcy Code, 2016 (Code).

• It is a unique regulator. It regulates the professions under IBC 2016 Act and the proceedings involved.

• It has regulatory oversight over the Insolvency Professionals, Insolvency Professional Agencies and Information Utilities.

• It writes and enforces rules for transactions, namely, corporate insolvency resolution, corporate liquidation, individual insolvency resolution and individual bankruptcy under the Code.

• 2018 major amendment to be finalized : The IBC amendments proposed by the panel, led by corporate affairs secretary Injeti Srinivas, make a strong case for treating homebuyers as financial creditors, enabling them to take builders defaulting on their obligations to a bankruptcy court and decide their future along with lenders.

• Proposed by a 14-member insolvency law committee headed by corporate affairs secretary Injeti Srinivas

KEY FACTS

Under PMKVY (2015-16)

1. 13,000 training centers opened across India Training in 375 trades.
2. 19.85 Lakh youth trained part of PMKVY (2015-2016) (updated)

Placement was not a feature of PMKVY 1, neither was it tracked. The number mentioned is record of voluntary information shared by TPs and thus shouldn’t be counted as an achievement.

Under PMKVY -2 (2016-20)

1. More than 5,700 training centres opened across India
2. More than 16 lakh candidates trained
3. Model training centres known as Pradhan Mantri Kaushal Kendras (PMKK) are being opened in every district across India 
4. Physical target of 20.5 lakh approved for 35 states/UT costing to INR 3000 crore till 2020
5. 6.01 lakh training to be implemented through state/UTs by March’18
6. Additional target of 20 lakh allocated for enrolment and training by training providers
7. Women constitute approx. 50% of all enrolled candidates under PMKVY

Startup India Movement launched on 16th January 2016 for promotion of Entrepreneurship among youth.

1. Action plan unveiled for encouraging startups.
2. Tax relief for three consecutive years out of a block of seven year for startups.
3. Start-up Fund of Rs. 10,000 Crore to be released over two Finance Commission cycles, that is, by 2025.
4. Startups are allowed to issue ESOPs to promoters working as employees

Startups approved

1. 4536 Startup applications have been recognized as Startups by DIPP as on 12th October, 2017
2. 74 Startups have been approved by IMB for availing tax benefit
3. 450+ Startups have been mentored for incubation and funding support by Startup India Hub

Start-up India, a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Start-ups in the country that will drive sustainable economic growth and generate large scale employment opportunities.

In order to meet the objectives of the scheme, the corporation has taken following initiatives:

1. Nurturing Creativity and Innovation by institutionalizing Meritorious Innovation Awards
2. Transferred about 120 technologies to various entrepreneurs/ Start-ups, contributing significantly to Start up India
3. NRDC is assisting DIPP in evaluating the innovation content in the start-up applications for recognizing start-ups and recommending the eligible start-ups for tax exemption and other benefits.
4. Designated by DIPP as Government Facilitator for IP filings for Start-Ups
5. Partnered with MoMSME-UNIDO (GCIP) for evaluating the award proposals for innovativeness
6. Managing and Monitoring Indian Oil and GAIL Start-up Scheme
7. NRDC organized a Contest for Demonstrating Innovative Prototypes for Start-Ups during the two-day NRDC annual conference on “Leveraging Innovation Ecosystem for Accelerating Start-ups”.

The New Development Bank BRICS (NDB BRICS), formerly referred to as the BRICS Development Bank, is multilateral development bank operated by the BRICS states (Brazil, Russia, India, China and South Africa) as an alternative to the existing US-dominated World Bank and International Monetary Fund. It has headquarters in Shanghai, China.
The Bank is set up to boost infrastructure funding in the emerging economies and offer them tailor-made services.

Making of BRICS Bank:

The BRICS countries in the 4th BRICS summit held in Delhi in 2012 came up with the idea of setting up the bank. It was then proposed by India.

Then at the 5th BRICS summit held in Durban, South Africa in 2013, all BRICS countries agreed to set up a Development bank.

Then at the 6th BRICS summit held in Fortaleza, Brazil, the BRICS countries signed the Agreement on the New Development Bank, which makes provisions for the legal basis of the bank.

The 7th BRICS summit in July 2015 held in Ufa, Russia marked the entry into force of the Agreement.

In July 2015, the bank was launched with K. V. Kamath from India as the first President of the Bank for the first five years.

Some facts about NDB BRICS:

The founding members of the Bank are the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa.

The membership shall be open to members of the United Nations, in accordance with the provisions of the Articles of Agreement of the New Development Bank.

The New Development Bank shall have an initial subscribed capital of US$ 50 billion and an initial authorized capital of US$ 100 billion.

Each BRICS member will contribute an equal share in establishing a startup capital.

All BRICS countries hold equal number of shares and have equal voting rights.

The Bank will have its Headquarters in Shanghai. The Bank may establish offices necessary for the performance of its functions. The first regional office shall be in Johannesburg.

The Bank shall have a Board of Governors, a Board of Directors, a President and Vice-Presidents. The President of the Bank shall be elected from one of the founding members on a rotational basis, and there shall be at least one Vice President from each of the other founding members.

National symbols of a country represent a host of objects that paint a unique identity about the country’s sensibilities. Representatives are chosen carefully and each depicts a certain virtue that is distinctive characteristic of the country. The rich heritage of India is a result of assimilation of cultural influences from its invaders through the generations. Ours is a multi-faceted culture and the various facets of our heritage require appropriate representation. India has many national symbols with which it identifies itself and takes pride in them. These symbols have been chosen from India’s unique flora and fauna, and its culture and civilization. In a nutshell, these symbols say a lot about India. These symbols are intrinsic to the Indian identity and heritage. Indians of all demographics backgrounds across the world are proud of these National Symbols as they instill a sense of pride and patriotism in every Indian’s heart.

Here is some more information about the national symbols of India:

National Emblem: The National Emblem of India is an adaptation of the Buddhist Lion capital of Ashoka at Sarnath, near Varanasi in Uttar Pradesh.

National Animal: The Tiger is the National Animal of India. It is the symbol of India’s wealth of wildlife. The magnificent tiger, Panthera tigris is a striped animal.

National Bird: The Peacock (Pavo Cristatus), is the National Bird of India. It is the symbol of qualities like beauty and grace.

National Flag: The National Flag is a horizontal tricolour of deep saffron (Kesari) at the top, white in the middle and the dark green at the bottom and a blue wheel (chakra) with 24 sticks at the centre.

National Fruit: The Mango (Mangiferra Indica) is the National Fruit. It has been cultivated in India since time immemorial.

National Tree: The National Tree of India is the Banyan (Ficus bengalensis) Tree. This huge tree towers over its neighbors and has the widest trunk.

National Sport: Sport Field Hockey, in which India has an impressive record with eight Olympic medals, is considered as the National Sport. However, Home Ministry has said that officially, no sport has been accorded, the status of national Sport.

National Anthem: Jana-Gana-Mana. . the song was composed originally in Bengali by Rabindranath Tagore, adopted in its Hindi version is our National Anthem.

National Song: The song Vande Mataram, composed in Sanskrit by Bankimchandra Chatterji, is our National song.

National Calender: The National Calender based on the Saka Era with Chaitra as its first month and a normal year of 365 days was adopted from 22nd March, 1957.

National Flower: Lotus, scientifically known as Nelumbo nucifera is the National Flower of India.

Other National Symbols of India

National Sentence: Satyamev Jayate
Father of the Nation: Mahatma Gandhi
National Foreign Policy: Non-Alignment
National Information Letter: White Letter
National Currency: Rupee

National Festivals:

Republic Day (26th January)
Independence Day (15th August)
Gandhi Jayanti (2nd October)
National River: Ganga
National Aquatic Animal: Dolphin (Platanista gangetica) 
National Heritage Animal: Elephant

Name of all the approved stock exchange in India is given below:-
1. U.P. Stock Exchange, Kanpur
2. Vadodara Stock Exchange, Vadodara 
3. Koyambtour Stock Exchange, Coimbatore 
4. Meerut Stock Exchange, Meerut
5. Mumbai Stock Exchange, Mumbai
6. Over the Counter Exchange of India, Mumbai
7. National Stock Exchange, Mumbai 
8. Ahmedabad Stock Exchange, Ahmedabad 
9. Bangalore Stock Exchange, Bangalore 
10. Bhubaneshwar Stock Exchange, Bhubaneshwar 
11. Calcutta Stock Exchange, Kolkata
12. Cochin Stock Exchange, Cochin 
13. Delhi Stock Exchange, Delhi 
14. Guwahati Stock Exchange, Guwahati 
15. Hyderabad Stock Exchange, Hyderabad 
16. Jaipur Stock Exchange, Jaipur 
17. Canara Stock Exchange, Mangalore 
18. Ludhiana Stock Exchange, Ludhiana 
19. Chennai Stock Exchange, Chennai 
20. M. P. Stock Exchange, Indore 
21. Magadh Stock Exchange, Patna
22. Pune Stock Exchange, Pune 
23. Capital Stock Exchange Kerala Ltd.,Thiruvananthapuram, Kerala

On July 9, 2007 SEBI has withdrawn its approval from Saurashtra Stock Exchange, Rajkot due to its passive working. Hence the number of approved stock exchanges have come down to 23.

Important Lines and Boundaries

Marginal Line : 320 km line of fortification on the Russia-Finland border

Line of Actual Control : India  & China on the Northern Border

Line of Control : India and Pakistan

Durand Line : Afghanistan and Pakistan

Radcliffe Line : India and Pakistan (its includes Bangladesh Line)

Blue Line : Isreal & Lebanon

Purple Line : Israel and Syria

Green Line : Israel and its neighbours (Egypt, Jordan, Lebanon and Syria)

Mason–Dixon line : Maryland and Pennsylvania/Delaware in Colonial America

Curzon Line : Poland & Russia

Military Demarcation Line (MDL) or Armistice Line : North Korea and South Korea

McMohan Line : India & China

Maginot Line : France & Germany

Mannar haime line : Russia & Finland

Order Neisse Line : Germany & Poland (aftermath of World War II)

Hindenburg Line : Poland & Germany (at the time of First World War)

 Sigfried Line East : France & Germany (at the time of second world war)

16 Parallel North : Angola and Namibia

17th Parallel Line : North & South Vietnam

20 Parallel North : Libya & Sudan

22 Parallel North : Egypt & Sudan

25 Parallel North : Mauritania & Mali

26 Parallel North : Western Sahara & Mauritania

31 Parallel North : Iraq & Iran

35 Parallel North : US it serves as border b/w Tennessee/Mississippi, Tennnessee/Alabama, Tennesse/Georgia, North Carolina/Georgia

36 Parallel North : In the US it Forms forms the southernmost boundary of the state of Missouri with the state of Arkansas

38 Parallel North Line : North  & South Korea

40 Parallel North : US it serves as border b/w Nebraska & Kansas

41 Parallel North : US it forms the border b/w wyoming/utah border, Wyoming/colorado, Nebraska/Colorado.

42 Parallel North : US it serves as border of new york & Pennsylvania Border

43 Parallel North : US it serves as border of b/w State Nebraska & state of south Dakota

45 Parallel North : US it forms the boundary b/w Montana & wyoming

49 Parallel North (Medicine Line) : USA & Canada

Census 2011

Census is nothing but a process of collecting, compiling, analyzing, evaluating, publishing and disseminating statistical data regarding the population. It covers demographic, social and economic data and are provided as of a particular date. Census is useful for formulation of development policies and plans and demarcating constituencies for elections. The Census of India has been conducted 15 times, As of 2011. It has been conducted every 10 years, beginning in 1871.

In Exam point of view, Questions related to Census is very common in all kinds of competitive exams. In every exam, we can expect a minimum of one or two questions from Census. Here is the simple and perfectly categorized 2011 Census of India.

1. Census 2011 were released in New Delhi on 31st March 2011 by Union Home Secretary GK Pillai and RGI C Chandramouli.
2. Census 2011 was the 15th census of india & 7th census after Independece
3. The motto of census 2011 was “Our Census, Our future”.
4. Total estimated cost of the Census was INR2200 crore (US$350 million).
5. First census in 1872.
6. Present Registrar General & Census Commissioner – C.Chandra Mouli
7. Total Population – 1,210,569,573 (1.21 Billion)
8. India in 2nd rank in population with 17.64%. decadal growth & China is 1st rank with decadal growth 19% (over 1.35 billion)
9. World Population is 7 Billions
10. Increase in population during 2001 – 2011 is 181 Million

Population – 1210.19 million [Males – 623.7 million (51.54%) Females – 586.46 million (48.46%)]

Population Highlight

Sex Ratio (Females per 1000 Males)

Literacy Rate in India

1. World Trade Organization (WTO) –

• Headquarters – Geneva, Switzerland
• Head – Roberto Azevedo
• Founded on – 1 January, 1995

2. World Health Organization (WHO) –

• Headquarters – Geneva, Switzerland
• Head – Dr Margaret Chan
• Founded on – 7 April, 1948

3. World Economic Forum (WEF) –

• Headquarters – Geneva, Switzerland
• Head – Klaus Schwab
• Founded on – 1971

4. International Labour Organisation (ILO) – 

• Headquarters – Geneva, Switzerland
• Head – Guy Ryder
• Founded on – 1919

5. United Nations Conference on Trade & Development (UNCTAD) –

• Headquarters – Geneva, Switzerland
• Head – MukhisaKituyi
• Founded on – 1964

6. World Meteorological Organisation (WMO) –

• Headquarters – Geneva, Switzerland
• Head – Michel Jarraud
• Founded on – 1950

7. International Monetary Fund (IMF) –

• Headquarters – Washington DC, US
• Head – Christine Lagarde
• Founded on – 27 December, 1945

8. The World Bank –

• Headquarters – Washington DC, US
• Founded on – July, 1944
• President- Jim Young Kim

9. United Nations Organization (UN) –

• Headquarters – New York, US
• Secretary general– Ban Ki-moon
• Founded on – 1945

10. United Nations Children’s Fund (UNICEF) –

• Headquarters – New York, US
• Head – Anthony Lake
• Founded on – December, 1946

11. United Nations Education Scientific & Cultural Organisation (UNESCO) –

• Headquarters – Paris, France
• Head – Irina Bokova
• Founded on – 16 November, 1945

12. Organisation for Economic Cooperation & Development (OECD) –

• Headquarters – Paris, France
• Head – Jose Angel Gurria
• Founded on – 30 September, 1961

13. North Atlantic Treaty Organisation (NATO) –

• Headquarters – Brussels, Belgium
• Head – Philip M. Breedlove
• Founded on – 4 April, 1949

14. International Maritime Organisation (IMO) –

• Headquarters – London, UK
• Head – Ki Tack Lim
• Founded on – 1959

15. International Atomic Energy Agency (IAEA) –

• Headquarters – Vienna, Austria
• Head – Yukiya Amano
• Founded on – July 29, 1957

16. Organisation of Petroleum Exporting Countries (OPEC) –

• Headquarters – Vienna, Austria
• Head – Diezani Alison-Madueke
• Founded on – 1961-62

17. International Olympic Committee (IOC) –

• Headquarters – Lausanne, Switzerland 
• Head – Thomas Bach
• Founded on – 23 June, 1894

18. Food & Agricultural Organisation (FAO) –

• Headquarters – Rome, Italy
• Head – Jose Graziano da Silva
• Founded on -16 October, 1945

National Parks in India