insurance amendment bill, 2021 upsc drishti

Hunger Hotspot Report (August – November 2021) Outlook, पर्यावरण एवं परिस्थितिकी : 22:36, 13. It saves Rs. Published on: 30 September 2021. THE FARMERS (EMPOWERMENT AND PROTECTION) AGREEMENT ON PRICE ASSURANCE AND FARM SERVICES BILL, 2020: It facilitates contract farming and direct marketing. The SPG (Amendment) Bill, 2019 was introduced in the lower house of the parliament by the Union Home Minister Amit Shah on November 25, 2019. The businesses of the companies nationalized under the Act […] One of the amendments requires that the state government obtain the LG’s opinion before implementing any decision. The CoC will appoint a resolution professional who will present a resolution plan to the CoC. Current News Bulletin (30th JULY – 5th AUGUST, 2021) l Drishti IAS. Net borrowing of the States: Net borrowing for the states allowed at 4% of GSDP for the year 2021-2022 as per recommendation of 15 th FC INSURANCE AMENDMENT BILL. It is important to note that bankruptcy is not synonymous with insolvency. The modern history is the most important section of the IAS Mains exam. with Statement of Objects and Reasons Notes with Free Access to Full Text of Judgements on Net and Mobile App The Ministry of Social Justice and Empowerment has come out with the draft Transgender Persons (Protection of Rights) Rules, 2020, and sought “objections and suggestions” within a … To consolidate and amend all existing insolvency laws in India. What is the issue? 👉 Instagram : https://www.instagram.com/drishtiias Practice the concept of 4Rs (Reduce, Reuse, Recycle, Recover) for water management to achieve goal 6 of the SDGs (Ensure access to water and sanitation for all). According to them, the amendments seek to reduce the power of the democratically elected government in the state of Delhi. Raimona national Park located in which state. Government of NCT of Delhi (Amendment) Act, 2021 Concerns, Frequently Asked Questions on Government of NCT of Delhi (Amendment) Act, 2021. Who facilitates the insolvency resolution under the Code? Black Money terms are important from Economy perspectives in the UPSC exam.IAS aspirants should thoroughly understand their meaning and application, as questions can be asked from this … The Constitutional (127th) Amendment Bill, 2021 will amend clauses 1 and 2 of Article 342A and also introduce a new clause 3. Key takeaways The Act provides the… Electricity Amendment Bill, 2020. iasparliament. This guide describes the strategies that have made the elimination of neonatal tetanus in the Americas possible, highlighting the progress made in surveillance to identify and monitor high-risk areas as well as immunisation activities ... Government of NCT of Delhi (Amendment) Act, 2021 Receives Presidential Assent. The Government of NCT of Delhi (Amendment) Act, 2021 received the presidential assent in March 2021. The bills were passed by both houses of the Parliament recently. This Act brings in some changes to the government of NCT of Delhi. The Big Picture is probably the most important show that you should watch for UPSC. Tags: Constitution. Government Of Nct Of Delhi Amendment Act 2021, The Government of NCT of Delhi (Amendment) Act, 2021 received the presidential assent in March 2021. Your Mobile number and Email id will not be published. In 1969 under the Indira Gandhi Government, 14 banks were nationalised. The 2016 Code provides for a time-bound process to resolve insolvency. This policy will protect the policyholders from cybercrimes. The Government of National Capital Territory of Delhi (Amendment) Bill, 2021. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. The Rajya Sabha has passed the Insurance (Amendment) Bill, 2021. There is also no time frame for the LG to give his/her opinion. Context: The Right to Information (Amendment) Bill, 2019 that amends the Right to Information Act, 2005 has been introduced in Lok Sabha. The preliminary paper is a common paper for all the candidates. The important topic is based on the previous year trend and recent discoveries. Cyber risk is commonly defined as exposure to harm or loss resulting from breaches of or attacks on information systems. What are the Amendments Suggested? Amendment of section 66. Education News, Employment News / 16/11/2021. The Bill amends the Insurance Act, 1938. Citizenship Bill. 29 May, 2021 Quarterly Newsletter for Jan - March, 2021. Tags: Constitution. This decision can be taken with the approval of 90% of the committee of creditors. Canara Bank. बिहार का अत्यंत समृद्ध एवं गौरवशाली इतिहास रहा है। यहाँ प्राकृतिक; सांस्कृतिक; राजनीतिक; ... Maximization of the value of assets of corporate persons. PM Narendra Modi dedicates to nation 35 PSA Oxygen Plants October 8, 2021. Our course includes complete Additional notes of Given RSTV Topic. 3. This open access book discusses the impact of human-induced global climate change on the regional climate and monsoons of the Indian subcontinent, adjoining Indian Ocean and the Himalayas. The Act also seeks to bring in some clarity on certain subjects in the Government of National Capital Territory of Delhi Act, 1991. ABOUT INTEGRATED OMBUDSMAN SCHEME. Prevention of Corruption Act, 1988 It consolidated the provisions of the Prevention of Corruption Act, 1947, some sections of the Indian Penal Code, the Criminal Procedure Code, and the Criminal Law Act, 1952. It specifies a minimum threshold of not more than Rs 1 crore for initiating the pre-packaged insolvency resolution process. Visit the UPSC FAQ page and get answers to all your queries about the civil services examination. Answer (1 of 5): Major Highlights of the Bill * A Total 4,000 km of inland waterways have been operationalised. The scope of complaints has been enlarged to ombudsmen from only disputes earlier to deficiencies in service on the part … India’s Leopard Count Jumps 63% in Just 4 Years, 1. by the LG for his/her decision and pending such decision, the LG can take any action on the matter as he/she deems appropriate. Insurance Amendment Bill, 2021: The bill was recently passed by Rajya Sabha. Aspirants of UPSC exam are advised to check other relevant topics for Essay and GS III paper. The Centre plans to introduce the Deposit Insurance & Credit Guarantee Corporation (Amendment) Bill 2021 in the ongoing Monsoon session of Parliament. GS Score has launched last one year collection of Current affairs news at one place of civil service aspirants of 2021 and 2022. Details : The Bill seeks to amend the General Insurance Business (nationalization) Act, 1972. Supreme Court in Islamic Academy of education vs Karnataka 2003 had said that there is autonomy for private schools to raise fees. However, the laws of Parliament prevail over those made by the Delhi Assembly. Concept Talk- By Dr. Vikas Divyakirti: https://goo.gl/xNVMrm, 3. The term ‘government’ mentioned in any law enacted by the legislative assembly of Delhi shall mean the LG. It will reduce the hassle for customers in choosing the right ombudsman. Aspirants can check UPSC question paper at the linked article. 𝐅𝐨𝐫 𝐕𝐢𝐝𝐞𝐨 𝐮𝐩𝐝𝐚𝐭𝐞𝐬 𝐟𝐨𝐥𝐥𝐨𝐰 𝐮𝐬 𝐨𝐧 : 👉 Facebook : https://www.facebook.com/DrishtiIASYouTube Earlier, account holders had to wait for years till the liquidation or restructuring of a distressed lender to get their deposits that are insured against default. Important topics for the UPSC exam 2021 and the IAS main 2021 will have the overlapping because the time frame of the exam overlaps each other. MP High Court Group D Recruitment 2021 Notification Pdf Download – The Madhya Pradesh High Court, Jabalpur has invited online applications from candidates for Group D posts in driver, chowkidar, mali, sweeper posts in district …. Insolvency is a situation where individuals or companies are unable to repay their outstanding debt. In this article, you can read about the important provisions of the GNCT Act for the, Government of NCT of Delhi (Amendment) Act. Tags: Bills & Laws. The UPSC exam has two papers, the prelim paper which will be objective type, and the main paper which is descriptive type. under this mechanism, main stakeholders such as creditors and shareholders come together to identify a prospective buyer and negotiate instead of a public bidding process. 10-year sanitation plan. The Code proposes the following steps to resolve insolvency: Parliament has recently passed the Insolvency and Bankruptcy Code (Amendment) Bill 2019 to resolve a few of the issues: A lot many things have been settled through repeated amendments but still, a lot needs to be done. Table of Contents. ; In terms of the size of insurance industry in India, the share of life insurance in total premium in India is 74.94% and the share of non-life premium is 25.06% (2019 … The book also focuses on the correlation between the teachings of Advaita, the conclusions of modern physics and cosmology, and how Advaita reveals the complex secrets of the universe. The ordinance suspends sections 7, 9, and 10 on grounds that the pandemic has created uncertainty and stress for business for reasons beyond their control, the nationwide lockdown has added to disruption of normal business operations in such circumstances it would be difficult to find an adequate number of resolution applicants for a distressed/defaulting business. Those were the times when the insurance sector was dominated by British Companies. Karnataka police act to clamp down gambling. GDP likely to contract by 7.7% in 2020-21, says Govt. Adjudicating authorities: The proceedings of the resolution process will be adjudicated by the National Companies Law Tribunal (NCLT), for companies; and the Debt Recovery Tribunal (DRT), for individuals. RTI is a mechanism to develop and ensure accountability and transparency, in line with Art 19 (1) (a) of the constitution. These banks, during that time, held 80% of the bank deposits in the country. 63,928 crore. To prepare for INTERNAL SECURITY for any competitive exam, aspirants have to know about Black Money. 8,285 crore. Compared to other markets, the pace at which we have achieved this is also noteworthy. To protect the interest of creditors including stakeholders in a company. What does the Bill propose to do? The 1991 act provided for a fully elected assembly and a council of ministers responsible to the assembly. Â. The Supreme Court exercised its plenary power under Article 142 to direct all high courts to frame a mechanism for use of technology during the pandemic. In 2019-2020 it was Rs. It was adopted on 26 November 1949 by the Constituent Assembly of India and came into effect on 26th January 1950. A reasonable surplus can be generated by schools for expansion of the institution; however, a balance between autonomy of institution and measures to prevent … In this handbook, over forty members of the international arbitration community in India and beyond offer authoritative perspectives and insights into topics on arbitration that matter in India. Have you. The Government of NCT of Delhi (Amendment) Act, 2021 received the presidential assent in March 2021. However, the SC has said that the LG cannot refer a matter mechanically or mindlessly and has to make all attempts to resolve the differences within the framework of the law and the Transaction of Business Rules. This is book 10 in the series of 150 books entitled " The Trail to Liberty. " The following is a partial list (20 of 150) of books in this series on the development of constitutional law. 1. Union Minister Dr Jitendra Singh Releases “Biotech-Pride Guidelines”, 4. (PRELIMS + MAINS FOCUS) SC order demolition of Maradu blocks violating CRZ regulations. First, it strengthens provisions related to time-limits. This is intended to make the process of redress of grievances easier by enabling the customers to register their complaints under the integrated scheme, with one centralized reference point. The agencies conduct examinations to certify insolvency professionals and enforce a code of conduct for their performance. The newly passed farm bills will give farmers the freedom to trade across states and empower them to turn into traders of their own produce and be in control of the process. This edition's theme chapter on financing a green and inclusive recovery explores the drivers and impacts of green and social finance and its prospects in the region. GLOBAL MINIMUM TAX RATE - AUDIO ARTICLE . The NCLT must find the existence of default within 14 days. These UPSC Notes on Insolvency and bankruptcy code are aligned with the UPSC Syllabus and aspirants should prepare this topic for General Studies Paper III. Ans. The candidates should understand the demand of the UPSC exam by analysing the UPSC syllabus and UPSC question paper simultaneously. This Act brings in some changes to the government of NCT of Delhi. Centre approves setting up 7 PM MITRA Parks in 5 years October 7, 2021. They may choose to revive the debt owed to them or sell (liquidate) the assets of the debtor to repay the debts owed to them. The New Zealand Legislation Introduced to Ban LGBT Conversion Therapy, 5. WE LEFT NO STONE UNTURNED TO PROVIDE ALL THE RELEVANT INFORMATION WHICH IS CRUCIAL FOR THE EXAMINATIONS, LIKE UPSC, CSE, UPPSC, MPPSC, RPSC AND UKPCS ETC. With HTBt, simply one round of glyphosate spraying is needed with no weeding. Enacting the Inter-State River Water Disputes (Amendment) Bill, 2019 may also help in streamlining the procedure for resolving such disputes. It gives an idea of all the important topics for the IAS Exam and the Economy syllabus (GS-III.). The duties of the authorities will include approval to initiate the resolution process, appoint the insolvency professional, and approve the final decision of creditors. , the state government is under constant threat from the LG’s power to differ with the government on important issues. Bank of India. In general bankruptcy provisions, the proprietors or major shareholders of a small business lose operational control of the enterprise to lenders. The voting threshold for routine decisions taken by the committee of creditors has been reduced from 75% to 51%. is now available on Android and iOS. The CoC may either decide to restructure the debtor’s debt by preparing a resolution plan or liquidate the debtor’s assets. In countries like the UK, bankruptcy is exclusive to individuals. Net borrowing of the States: Net borrowing for the states allowed at 4% of GSDP for the year 2021-2022 as per recommendation of 15 th FC It also brought in a provision from the Government of Union Territories Act, 1963, namely, that in case of a difference between the LG and the council of ministers on any matter, it shall be referred to the. If the resolution plan is rejected by the CoC, the debtor will go into liquidation. 500 crore to Rs. 👉 Twitter : https://twitter.com/DrishtiVideos Required fields are marked *, Insolvency And Bankruptcy Code UPSC Notes, These UPSC Notes on Insolvency and bankruptcy code are aligned with the. Although the constitution bench of the Supreme Court has held that the government does not have to seek the concurrence of the LG on its decisions and that any differences between them should be resolved keeping in view the constitutional primacy of representative government and cooperative. The present Factories Act is applicable on factories (with electricity connection) with 20 workers and factories, without electricity, with 10 workers. Punishment for offences related to the pre-packaged insolvency resolution process. JV’s UPSC 2021 Strategy UPSC Syllabus (Prelims Examination) UPSC Syllabus (Mains Examination) Micro-listing of GS Mains Syllabus UPSC-CSE 35 days strategy for Spectrum Modern History How to cover Indian Polity in an effective manner from M.Laxmikanth by Jatin Verma. Context: Cabinet approved the amendment to Deposit Insurance Credit Guarantee Corporation (DICGC) Bill, 2021. Penalty for fraudulent or malicious initiation of pre-packaged insolvency resolution process or with intent to defraud persons, and for fraudulent management of the corporate debtor during the process. aspirants can find more notes for UPSC Mains General Studies topics from the links given at the end of the article. The Code also consolidates provisions of the current legislative framework to form a common forum for debtors and creditors of all classes to resolve insolvency. 1. Last Year, in the wake of the Coronavirus Pandemic, the Supreme Court (SC) has passed directions for all courts across the country to extensively use video-conferencing for judicial proceedings. Anti-defection law for independent legislators. Economy. UNDERSTANDING THE IMPLICATIONS NEW FARM ACTS Ramesh Chand Member, NITI Aayog GENESIS OF POLICY REFORMS There is criticism from … The Lok Sabha has passed the Motor Vehicles (Amendment) Bill, 2016 by a voice vote to give more thrust to road safety, controlling pollution and accidents. The bill proposes to regulate surrogacy by establishing National Surrogacy Board at the central level and, State Surrogacy Board and appropriate authorities in states and UTs respectively. Insolvency Professional Agencies: insolvency professionals will be registered with insolvency professional agencies. The recent Supreme Court order setting aside RBI’s decision to send all power companies to the NCLT has also set a wrong precedent. The Bill will declare 5 IIITs in Public-Private Partnership mode at Surat, Bhopal, Bhagalpur, Agartala & Raichur as Institutions of National Importance. In section 66 of the principal Act, after sub-section (2), the following sub-section shall be inserted –, ” Section 3 – “Notwithstanding anything contained in this section, no application shall be filed by a resolution professional under sub-section (2), in respect of such default against which initiation of the corporate insolvency resolution process is suspended as per section 10A.”. The National Institute of Pharmaceutical Education and Research (Amendment) Bill, 2021. In 2015, the Modi government increased it to 49% from 26%, and now, in 2021, it has been raised to 74%. The Bill seeks to amend the Insurance Act, 1938. The Decision of the National People's Congress on Improving the Electoral System of the Hong Kong Special Administrative Region was enacted on 11 March 2021 by the National People's Congress (NPC), the sole legislative body of the People's Republic of China (PRC), to "amend electoral rules and improve the electoral system of the Hong Kong Special Administrative Region … September-2021 Current Affairs. Archives. Now, in 2020-2021, it is at Rs.10,530 crore, a more than 40 times increase from 2013-14. 16/11/2021. Due to this Bill, a big challenge lies ahead for Punjab that provides free power to the agriculture sector. Air Pollution and health risks. 👉 Telegram : https://t.me/drishtiiasofficial, =̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵=̵. 7,000 to Rs. In the ‘objects and reasons’ mentioned, the government states that there is no structural mechanism for effective time-bound implementation of Section 44 of the 1991 Act. The Insurance (Amendment) Bill, 2021. Insolvency is a situation where individuals or companies are unable to repay their outstanding debt. Federalism - The separation of powers is a concept which underscores independence and is vital to India’s democratic checks and balances. adoption of a cybersecurity plan, purchase of cyber-insurance as well as appointment of a data security officer. March 19, 2021. 500 crore to Rs. Thereafter, a Committee of Creditors (CoC) consisting of financial creditors will be constituted for taking decisions regarding insolvency resolution. ICAR publication This is the backdrop in which the new amendments have been brought about. Published on: 30 September 2021. They also say that the position of the Chief Minister of Delhi would be rendered meaningless and that this would have adverse consequences on the federal nature of the country. In 2019-20 it increased to Rs. While the Rowlatt Act is known as the black act, the Jallianwala Bagh Massacre marks one of the black days in the history of India. May 30, 2020. Published on: 29 September 2021. Leak of CCI report on Google. 151, that’s Not at all the Number of Essays covered in the Bestselling Book, Penned by Renowned Author Mr. S C Gupta, 151 Essays is a Complete Guide to help students learn the art of essay writing through More than 160 Essays covering the ... Anti-defection law for independent legislators. It increases the maximum foreign investment allowed in an insurance company from 49% to 74%. The bills were passed by both houses of the Parliament recently. In this article, you can read about the important provisions of the GNCT Act for the UPSC exam. Rajya Sabha passes Insurance Amendment Bill. The 1988 Act enlarged the scope of the term ‘public servant’ and in­cluded a large number of employees within its ambit. a) Odisha b) Assam c) Himachal Pradesh d) Nagaland. It is not the only legal status that could be applicable to an insolvent individual or an entity. Jyotiraditya M. Scindia flags off the Doon Drone Mela October 11, 2021. Factly :-News Articles For UPSC Prelims | Jan 08,2021 January 8, 2021. The UPSC syllabus for prelims exam does not define the topics in detail. This may be extended by a period of up to 90 days if the extension is approved by NCLT. Private fees. $6 ,1752'8&(' ,1 /2. 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