Art & Culture Current Affairs 2018

Latest Art & Culture Current Affairs 2018 for UPSC Exams, Bank Exams, Civil Services, SSC and other Competitive Exams. Latest developments in Art & Culture Current 2017-18 all important national updates in Art & Culture Current events for the year 2018

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Rs. 904.80 Lakhs received as part of CSR under National Culture Fund

Ministry of Culture has announced that it has received Rs. 904.80 Lakhs for conservation and maintenance work of historical monuments as contributions part of Corporate Social Responsibility (CSR) under National Culture Fund (NCF). It also has revenue collected through various sources like ticketing, Parking, photography, filming, and from holding cultural events from selected centrally protected monument which has been deposited in Consolidated Fund of India.

National Culture Fund (NCF)

NCF was established as Trust under Charitable Endowment Act, 1890 as funding mechanism distinct from existing sources and patterns of funding for arts and culture in India. It aims at inviting individuals as well as private institutions in the task of promoting, protecting and preserving India’s cultural heritage.

It is managed and administered by council headed by Union Culture Minister and decides the policies. Its Executive Committee is headed by Secretary, Ministry of Culture which actualizes those policies. All projects undertaken by NCF are completed within specified period in accordance with MoU signed by it with concerned donor organization.

Union Government had granted one-time corpus fund to NCF, apart from this, there is no fund allocated by to. It receives contributions and voluntary donations as endowments from many other sources. Donations and contributions to NCF are eligible for 100% tax deduction under Income Tax Act, 1961 subject to limits and conditions prescribed.

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BSE’s iconic Phiroze Jeejeebhoy Towers secures trademark

Stock exchange major Bombay Stock Exchange (BSE) has secured image trademark for its iconic building, Phiroze Jeejeebhoy Towers located on Dalal Street in Mumbai, Maharashtra under Trade Marks Act, 1999. With this, Phiroze Jeejeebhoy Towers joins elite club of distinguished structures around the world that have secured trademark rights.

Significance: Henceforth no one can use images of the  Phiroze Jeejeebhoy Towers for commercial purposes without consent from BSE or paying it licensing fee. Violators are liable to be prosecuted under Trade Marks Act, 1999.

Key Facts

BSE’s Phiroze Jeejeebhoy Towers serves as barometer of Indian economy. It is 28-floor building and was bulit almost 10 years, completed in 1980. At the time of its completion, it was the tallest building in India. Initially it was known as BSE Towers and was later renamed after late chairman of BSE, Sir Phiroze Jamshedji Jeejeebhoy. BSE was founded in 1875. It began as small group of brokers who functioned under a banyan tree on Dalal Street.

Trademark

Trademark refers to graphical representation of goods or services to make it distinguishable from others. It can be words, symbols, sound, colours, shape of goods, graphics representation or packaging etc. It protects owner against unfair competition, prevents damage to reputation of owner and consumer welfare.

In India, trademarks are governed under Trademarks Act, 1999 ( it deals with precise nature of rights one can acquire in respect of trademarks), under aegis of Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce. The implementing body is Controller General of Patents, Designs and Trademarks.

Mumbai’s Taj Mahal Palace hotel was first building in India to acquire image trademark under Trademark Act of 1999 in June 2017. Other iconic structures (builings) in the world that have received trademarks are Empire State Building, New York, USA; Eiffel Tower, Paris, France; Opera House, Sydney, Australia etc.

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