Union Minister of Home Affairs Current Affairs - 2020
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The Appointments Committee of Cabinet (ACC) has approved the extension of Senior bureaucrat Alok Vardhan Chaturvedi by over 3 months, in central deputation as Director General (DG), Directorate General of Foreign Trade (DGFT).
A. V. Chaturvedi is a 1986 batch IAS officer of Bihar cadre. He was given extension beyond 18 June 2019 and will now continue up to 30 September 2019, the date of his superannuation or until further orders whichever is earlier.
Appointments Committee of Cabinet: The ACC decides appointments to top posts under Government of India (GoI). It is composed of the Prime Minister of India, Narendra Modi who act as the Chairman of ACC and Union Minister of Home Affairs, Amit Shah.
Directorate General of Foreign Trade: It is agency of Union Ministry of Commerce and Industry. It is responsible for administering laws regarding foreign trade and foreign investment in India and for execution of India’s import and export Policies. It provides a complete searchable database of all exporters and importers of India.
Tags: Alok Vardhan Chaturvedi • Amit Shah • Appointments Committee of Cabinet • DGFT • Directorate General of Foreign Trade
Krishnamurthy Subramanian, Chief Economic Adviser (CEA) and B. Sriram, former managing director (MD) and chief executive officer (CEO) of Industrial Development Bank of India (IDBI Bank) were appointed part-time members of Insolvency and Bankruptcy Board of India (IBBI).
K Subramanian, an Indian School of Business (ISB) Hyderabad professor was appointed chief economic adviser for a period of 3 years in December 2018.
Their appointment was approved by Appointments Committee of the Cabinet (ACC), which is composed of Prime Minister of India (who is Chairman), Union Minister of Home Affairs and the order for appointment was issued by Department of Personnel and Training (DoPT).
About Insolvency and Bankruptcy Board of India
- IBBI, an insolvency regulatory agency was established on 1 October 2016. It was given statutory powers by Insolvency and Bankruptcy Code (IBC), the bankruptcy law of India which was passed by Lok Sabha on 5 May 2016.
- The IBC 2016 established Insolvency and Bankruptcy Board of India (IBBI), to oversee insolvency proceedings in India and to regulate entities registered under it.
- The IBBI Governing Board consists of 10 members, including representatives from the Ministry of Finance (MoF), Ministry of Law and Justice, Ministry of corporate affairs (MCA), and Reserve Bank of India (RBI).
- IBBI act as a regulator for overseeing insolvency proceedings and entities such as Insolvency Professionals (IP), Insolvency Professional Agencies (IPA) and Information Utilities (IU) in India.
- IBC covers Individuals, Companies, Partnership firms and Limited Liability Partnerships and handles cases under it using tribunals namely National company law tribunal (NCLT) and Debt recovery tribunal (DRT).
Tags: Appointments Committee of the Cabinet • B. Sriram • Cabinet (ACC) • Chief Economic Advise • Debt recovery tribunal