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Daily Current Events by Civils360 December 20, 2017

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Disabled persons: Read Here

  • Supreme Court warned the higher educational institutions to ensure a level playing field for disabled persons or face action for discrimination.
  • The Rights of Persons with Disabilities Act provides for not less than 5% reservation in seats during admissions and this law has not so far been complied with. Supreme Court said that appropriate legal action would be initiated against defaulting educational institutions.
  • The apex court¬†directed the University Grants Commission to constitute a committee to come up with possible guidelines for facilitating access for students with disabilities in universities and colleges.

IIM Bill: Read Here

  • Parliament passed a Bill to grant the Indian Institutes of Management the power to grant degrees instead of post-graduate diplomas.The Bill also allows students to acquire doctoral degrees from the IIMs.
  • The Bill also confers on the 20 IIMs the status of institutions of national importance, granting them greater functional autonomy by restricting the role of the government in them.
  • As per the IIM Bill, 2017, a Board of Governors will appoint the Director of each IIM.A search-cum-selection-committee will recommend the names. And the director will be eligible for variable pay as determined by the Board.

Asia-Pacific: Read Here

  • The Indo-U.S. partnership helps maintain stability in the Asia-Pacific region. This comes after the U.S.A. President announced the new National Security Strategy of the U.S. and described India as a leading global player.
  • The two responsible democracies India and the U.S. share common objectives including combating terrorism and promoting peace and security throughout the world.
  • Both India and US exchanged information about the strategy to be followed to isolate and ban terrorism-related individuals and organisations. This is necessary to maintain peace and stability in the region.

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Exports: Read Here

  • The government is formulating a new strategy to boost services exports by identifying new markets such as Latin America as well as services, including healthcare and financial services.
  • Services would contribute more to employment generation because manufacturing is becoming increasingly automated.
  • For this, Commerce¬†Ministry, along with the EXIM Bank, was working on a strategy to define each market along with the kind of products that could be exported. The sectors which had the most potential for exports included health and wellness, media and entertainment and leisure.

Companies Act: Read Here

  • Companies Act is amended to strengthen corporate governance standards, initiate strict action against defaulting companies and to help improve the ease of doing business in the country.
  • The major changes include simplification of the private placement process, rationalization of provisions related to loans to directors, replacing the requirement of approval of the central government for managerial remuneration above prescribed limits by approval through a special resolution of shareholders.
  • The amendment also includes aligning disclosure requirements in the prospectus with the regulations made by Sebi, providing for maintenance of the register of significant beneficial owners and making offence for contravention of provisions relating to deposits as non-compoundable.