I-Learning Test 6: 27 August-03 September 2017
- Consolidated FDI Policy (Effective from August 28, 2017)
It was recently published by Department of Industrial Policy and Promotion, Ministry of Commerce and Industry.
We are covering some major pointers:
- OCBs have been derecognized as a class of investors in India with effect from 2003.
- Erstwhile OCBs which are incorporated outside India and are not under the adverse notice of RBI can make fresh investments under FDI Policy as incorporated non-resident entities, with approval of concerned authorities.
- Definition of OCBs is covered under section 2.1.12 on Page 12 of Q Source.
- A company, trust and partnership firm incorporated outside India and owned and controlled by NRIs can invest in India with the special dispensation as available to NRIs under the FDI Policy.
- Moreover, Indian companies can issue capital against FDI.
- A SEBI registered Foreign Venture Capital Investor (FVCI) may contribute up to 100% of the capital of an Indian company, including startups irrespective of the sector in which it is engaged, under the automatic route.
- A Non- Resident Indian may subscribe provided such subscriptions are made through normal banking channels and the person is eligible to invest as per the provisions of the PFRDA Act.
The annuity/accumulated saving will be repatriable (i.e. can be taken back abroad).
MJPS: (Release ID :170268)
- Tibetan Buddhism – ‘Terma’
Termas are a part of tantric literature.
- These hidden teachings are key to Vajrayana or Tibetan Buddhist and Bon religious traditions.
- The belief is that these teachings were originally esoterically hidden by various adepts such as Padmasambhava during the 8th century, for future discovery at auspicious times by other adepts.
- As such, terma represent a tradition of continuous revelation in Vajrayana or Tibetan Buddhism.
- Termas are not always made public right away. The conditions may not be right; people may not yet be ready for them; and further instructions may need to be revealed to clarify their meaning.
Source: Sects of Buddhism
- Brain Corals
They are a slow-growing species of coral which often act as foundations for reefs.
This means that the polyps, which are the basic living unit of corals, are highly associated to one another.
- Their tissues are more closely connected than those of other corals and are not separated by skeletal structures.
- Even though known as brain corals, they do not possess a biological brain.
- Found in the Caribbean, Atlantic, and Pacific Oceans, brain corals display what is known as Meandroid tissue integration.
- Many researchers think that the more integrated a coral’s polyp tissue is, the more advanced the coral species.
- Tissue integration is advantageous because the coral polyps are able to transfer molecules such as nutrients, hormones, and oxygen—making it easier for the brain coral colony to communicate.
- They can grow six feet tall and live for up to 900 years!
- Barani and his Fatwa-i-Jahandari
Barani was a Muslim political thinker of the Delhi Sultanate located in present-day North India during Muhammad bin Tughlaq and Firuz Shah’s reign.
- The Fatwa-i-Jahandari is a work containing the political ideals to be pursued by a Muslim ruler in order to earn religious merit and the gratitude of his subjects.
- He was best known for composing the Tarikh-i-Firuz Shahi, a work on medieval India, which covers the period from the reign of Ghiyas ud din Balban to the first six years of reign of Firuz Shah Tughluq and the Fatwa-i-Jahandari which details the caste system among Muslims in South Asia.
Source: Additional Research: Page 6: 7th NCERT History
- Industries (Development and Regulation) Act, 1951 (IDRA).
IDRA was enacted in pursuance of the Industrial Policy Resolution, 1948.
The Act was formulated for the purpose of development and regulation of industries in India by the Central Government.
The Act establishes a ‘Central Advisory Council’ for the purpose of advising the Central Government on matters concerning the development of the industries.
The Act is administered by the Ministry of Commerce through its Department of Industrial Policy & Promotion (DIPP).
The IDRA empowers the Central Government to regulate the development of industries by means of licensing with suitable exemptions as decided by the Government.
The main objectives of the Act is to empower the Government: –
- to take necessary steps for the development of industries;
- to regulate the pattern and direction of industrial development;
- to control the activities, performance and results of industrial undertakings in the public interest.
The Act applies to the ‘Scheduled Industries’ listed in the First Schedule of the Act. However, small scale industrial undertakings and ancillary units are exempted from the provisions of this Act.
Source: Labour welfare was covered by UPSC in Prelims 2017 – This is a related question http://www.business-standard.com/article/government-press-release/amendment-in-the-first-schedule-of-industries-development-and-regulation-act-115090900731_1.html