Current Affairs - May, 2019

Latest Current Affairs May, 2019 with Current Affairs, news summary on current events of National and International importance of May, 2019 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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22 May: International Day for Biological Diversity observed

The International Day for Biological Diversity (IDB) was observed on 22 May 2019. The day is celebrated every year to increase understanding and awareness about biodiversity issues.

About International Day for Biological Diversity

  • Background: The International Day for Biological Diversity (IDB) was first created by Second Committee of the United Nations General Assembly (UNGA) in late 1993. It designated 29 December, the date when Convention of Biological Diversity entered into force as The International Day for Biological Diversity. Then in 20 December 2000, UNGA adopted its resolution 55/201 and proclaimed 22 May as IDB, to commemorate adoption of text of the Convention by Nairobi Final Act of ‘Conference for Adoption of Agreed Text of Convention on Biological Diversity’ on 22 May 1992.
  • The Convention on Biological Diversity (CBD): is a multilateral treaty and international legal instrument for “the conservation of biological diversity” which has been ratified by 196 nations.

About IBD 2019

  • For celebration of IBD 2019 the UN Biodiversity Convention partnered with Slow Food International. This partnership focuses on biodiversity as foundation of our health and food systems.
  • 2019’s IBD celebration focuses on biodiversity as foundation for our food and health.
  • Theme: for IBD 2019 was “Our Biodiversity, Our Food, Our Health“. It seeks to raise awareness about interconnectedness of our health and food systems with biodiversity. It also celebrates the most tangible aspects of biological and cultural diversity, which are ‘Nature and Cultures’, through our food and health systems.
  • Worry: The global diet as a whole (what people actually eat globally) is becoming more homogenized (similar and integrated), and this is a dangerous thing.
  • In the last 100 years, over 90% of crop varieties have disappeared from farmers’ fields. Thus, locally-varied food production systems are under severe threat which includes related local, indigenous and traditional knowledge.

About Slow Food International

It is a global network of local communities which was founded in 1989. It work towards preventing disappearance of local traditions, local food cultures and counteract the rise of fast food culture.

Month: Categories: Events & Observances

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20 May 2019: CCI celebrates its 10th Annual Day

The Competition Commission of India (CCI) celebrated its 10th Annual Day on 20 May 2019. The date ‘20 May’ marks the notification of substantive enforcement provisions of the Competition Act, 2002.

About Competition Commission of India

  • CCI is a statutory body which was established under the provisions of Competition Act, 2002. It was established in 2003.
  • Composition: It consists of a Chairperson and six Members appointed by the Central Government.
  • Function:
    1. It is responsible for enforcing the provisions of Competition Act, 2002 throughout India.
    2. To prevent activities that can have an adverse effect on competition.
    3. To promote and sustain competition
    4. To protect interests of consumers.
    5. To ensure freedom of trade in the markets of India.
  • Importance: CCI is although young body but is a perceptive regulator. It has strived to nurture a culture of competition in Indian markets by its credible antitrust enforcement and regular engagement with stakeholders. Since 2009, CCI has reviewed about 660 merger filings, 1010 antitrust cases and has held more than 700 advocacy events.

About The Competition Act 2002

It is amended by the Competition (Amendment) Act, 2007. It provisions include:

  • Prohibiting anti-competitive agreements and also preventing abuse of dominant position by enterprises.
  • Regulating combinations such as acquisition, acquiring of control, mergers and acquisition (M&A) which can have an adverse effect on competition within India.

Way Forward

Although the role of Competition Commission of India (CCI) as a Market Regulator ensures a level playing field but in increased globalized and inter-dependent world, role of the CCI is required to be dynamic.

Month: Categories: National

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