PIB Summary- 17th February, 2023 | Current Affairs & Hindu Analysis: Daily, Weekly & Monthly - UPSC PDF Download

Investor Education and Protection Fund Authority (IEPFA)

Why in News?
The Investor Education and Protection Fund Authority (IEPFA), will organise a State Level Conference on Financial Literacy in Amrit Kaal – Empowering Investors in association with the Department of Tourism in Aizawl.

About Investor Education and Protection Fund Authority

• The Investor Education and Protection Fund Authority was established in 2016 under the Companies Act of 2013, and it operates under the Ministry of Corporate Affairs.
• The main responsibility of the Authority is to administer the Investor Education Protection Fund (IEPF), make refunds of shares, unclaimed dividends, matured deposits/debentures, and promote awareness among investors.

Investor Education Protection Fund (IEPF)

• The Investor Education Protection Fund (IEPF) was established under Section 205C of the Companies Act, 1956, by way of the Companies (Amendment) Act, 1999.
• The fund is created to safeguard the interests of investors and promote awareness among them.
• The following amounts that remained unpaid and unclaimed for a period of seven years from the date they became due for payment are credited to the Fund:
  • Amounts in the unpaid dividend accounts of the companies
  • The application money received by companies for allotment of any securities and due for refund
  • Matured deposits with companies
  • Matured debentures with companies
• The Fund also receives grants and donations from the Central Government, State Governments, companies, or any other institutions for the purposes of the Fund. The interest or other income received out of the investments made from the fund is also credited to the Fund.

EX DHARMA GUARDIAN

Why in News?
The 4th edition of joint military exercise, “EX DHARMA GUARDIAN”, between India and Japan is being conducted at Camp Imazu in Shiga province, Japan from 17 February to 02 March 2023.

About EX DHARMA GUARDIAN

• The joint training event is an annual exercise, and it is significant for both countries in terms of security challenges they are currently facing.
• Troops of the Garhwal Rifles Regiment of the Indian Army and an Infantry Regiment from the Middle Army of the Japan Ground Self Defence Force (JGSDF) are participating in the exercise this year.
• The scope of the exercise includes platoon level joint training on operations in jungle and semi-urban/urban terrain.
• The main objective of the exercise is to share experiences gained during operations and to enhance inter-operability in planning & execution.
• The joint exercise will enable both armies to share best practices in tactics, techniques, and procedures of conducting tactical operations under a UN mandate, in addition to developing inter-operability, bonhomie, camaraderie, and friendship between the two armies.
• During the exercise, participants will engage in a variety of missions ranging from joint planning to joint tactical drills, and basics of establishing integrated surveillance grids, including employment of aerial assets.
• The joint exercise will further enhance the level of defence co-operation between the Indian Army and Japanese Ground Self Defence Forces, which will strengthen the bilateral relations between the two nations.