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DAILY CURRENT EVENTS CIVILS360

September 19, 2017

Shell shock: Govt. ‘names and shames’ directors

  • In a first-of-a-kind ‘name and shame’ exercise, the Ministry of Corporate Affairs (MoCA) has begun making public the lists of disqualified directors across the nation as well as those associated with struck-off companies.
  • This follows a MoCA statement on September 12 that as on that day, it had identified 1.06 lakh directors of ‘shell companies’ for disqualification under the relevant provisions of the Companies Act, 2013. The move is part of actions to break the network of ‘shell companies’ and further the fight against black money/money laundering, it had said.

Nigerian lawyer gets top UN peace prize

  • A Nigerian lawyer who helped secure the release of more than 100 schoolgirls kidnapped by Boko Haram was on Monday awarded one of the United Nations’ top prizes.
  • The UNHCR said Zannah Mustapha was given the annual Nansen award for his “crucial mediating” role as well as his work helping children affected by the long-running conflict.
  • Mr. Mustapha set up The Future Prowess Islamic Foundation School 10 years ago, which has since proved a lifeline for children in conflict-riven and impoverished northeast Nigeria. The primary school has 540 pupils — more than half of them girls. Students include the children of Boko Haram fighters and Nigerian soldiers. Mr. Mustapha is a well-known figure in northeast Nigeria having previously represented the family of Mohammed Yusuf, the founder of Boko Haram who died in police custody in 2009.

How violence radicalised a generation of Rohingya

  • From its start four years ago as a small-scale effort to organise a Rohingya resistance, Arakan Rohingya Salvation Army (ARSA) has managed to stage two deadly attacks on Myanmar’s security forces: one in October and the other last month.
  • But in lashing out against the government, the militants have also made their own people a target. And they have handed Myanmar’s military an attempt at public justification by saying that it is fighting terrorism, even as it has burned down dozens of villages and killed fleeing women and children.
  • This radicalisation of a new generation of Rohingya, a Muslim minority in a Buddhist-majority country, adds fuel to an already combustible situation in Rakhine, Myanmar’s poorest State.
  • Myanmar’s military, which ruled the country for nearly half a century, has systematically persecuted the Rohingya, subjecting them to apartheid-like existences and stripping most of their citizenship.The nation’s civilian government has justified the recent violent crackdown in Rakhine as a counterstrike against “extremist Bengali terrorists.”

Norms eased for fund raising by REITs, InvITs

 

  • The Securities and Exchange Board of India (SEBI) has relaxed the guidelines for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) in order to broaden the scope of fund raising by such instruments.
  • The board of SEBI, which met on Monday, decided to allow REITs and InvITs to raise capital by issuing debt securities while also giving approval for the former to lend to an underlying holding company or a special purpose vehicle (SPV).
  • The regulator also allowed single-asset REITs on similar lines as InvITs while amending the definition of ‘valuer’ for both REITs and InvITs. REITs allow investors to invest in real estate, while InvITs allow one to invest in infrastructure projects.

 

PRELIMS FACTS

Arkavati River

  • The Arkavati is an important mountain river in Karnataka, India, originating at Nandi Hills of Chikkaballapura district.
  • It is a tributary of the Kaveri river.

Kabini River

  • The Kabani, also called Kabini or Kapila, is a river in southern India.
  • It originates in the Wayanad District of Kerala state by the confluence of the Panamaram River and the Mananthavady River. It flows eastward to join the Kaveri River at Tirumakudalu Narasipura in Karnataka. The Kaveri river then irrigates Tamil Nadu and it is major drinking water source before emptying into the Bay of Bengal near kaveripoompattinam.