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PIB 19th May 2021

CONTENTS

  1. NATIONAL GALLERY OF MODERN ART
  2. COMPETITION COMMISSION OF INDIA
  3. ELECTORAL BONDS

NATIONAL GALLERY OF MODERN ART

Focus: GS I- Art and culture

Why in news?

The National Gallery of Modern Art (NGMA), New Delhi, announced  the launch of the NGMA’s Audio-Visual Guide App on the occasion of International Museum Day.

  •  It will be possible for museum viewers to listen to anecdotes and stories related to the treasured Indian modern art exhibited at the Gallery, on smart phone, anywhere, anytime.
  • The app is an audio-visual guide for exploring the modern art treasures on display across galleries of the Museum.

About National Gallery of Modern Art

  • It was founded in 1954, as the premier museum of modern art of a newly independent nation, the National Gallery Modern Art, New Delhi, houses and showcases masterpieces of the changing art forms of modern India spanning more than one hundred and fifty years.
  • The museum continues to reaffirm its role as a repository of modern and contemporary visual, plastic and new media arts.
  • The museum has a seminal collection of more than 2000 artists.
  • The line-up includes artists of the of stature of Raja Ravi Verma, Abanindranath Tagore, Rabindranath Tagore, Gaganendranath Tagore, Nandalal Bose, Jamini Roy, Amrita Sher-Gil, Thomas Daniell, and a few leading international artists.
  • Some of the oldest works preserved at NGMA date back to 1857.
  • With 12,000 square meters of exhibition space, it is one of the world’s largest modern art museums.
OBJECTIVES :
  • To acquire and preserve works of modern art from 1850s onward
  • To organize, maintain and develop galleries for permanent display
  • To organize special exhibitions not only in its own premises but in other parts of the country and abroad.
  • To develop an education and documentation centre in order to acquire, maintain and preserve documents relating to works of modern art
  • To develop a specialized library of books, periodicals, photographs and other audio visual materials
  • To organize lectures, seminars and conferences, and to encourage higher studies and research in the field of art history, art criticism, art appreciation, museology and the inter-relations on visual and performing arts.

COMPETITION COMMISSION OF INDIA

Focus: GS II- Polity and Governance (Government Interventions)

Why in news?

The Competition Commission of India (CCI) approves proposed acquisition of 100% shareholding and sole control of Ingram Micro Inc. by Imola Acquisition Corporation.

  • Ingram Micro is a US Headquartered IT company that specialises in technology distribution and logistics, cloud solutions, and e-commerce supply chain services.

About competition commission of India:

Nodal: Ministry of corporate affairs

Competition Commission of India (CCI) is a statutory body of the Government of India responsible for enforcing the Competition Act, 2002.

Competition Commission of India aims to establish a robust competitive environment.

  • Through proactive engagement with all stakeholders, including consumers, industry, government and international jurisdictions.
  • By being a knowledge intensive organization with high competence level.
  • Through professionalism, transparency, resolve and wisdom in enforcement.
Composition of CCI
  • The Commission consists of one Chairperson and six Members.
  • The commission is a quasi-judicial body .
  • Eligibility of members: The Chairperson and every other Member shall be a person of ability, integrity and standing and who, has been, or is qualified to be a judge of a High Court, or, has special knowledge of, and professional experience of not less than fifteen years in international trade, economics, business, commerce, law, finance, accountancy, management, industry, public affairs, administration or in any other matter which, in the opinion of the Central Government, may be useful to the Commission.

ELECTORAL BONDS

Focus: GS II- Election

About Electoral Bonds:

An electoral bond is like a promissory note that can be bought by any Indian citizen or company incorporated in India from select branches of State Bank of India.

  • The citizen or corporate can then donate the same to any eligible political party of his/her choice.
  • The bonds are similar to bank notes that are payable to the bearer on demand and are free of interest.
  • An individual or party will be allowed to purchase these bonds digitally or through cheque.
All about Electoral Bonds
  • As per provisions of the Scheme, Electoral Bonds may be purchased by a person , who is a citizen of India or incorporated or established in India.
  • A person being an individual can buy Electoral Bonds, either singly or jointly with other individuals.
  • Only the Political Parties registered under Section 29A of the Representation of the People Act, 1951 (43 of 1951) and which secured not less than 1% of the votes polled in the last General Election to the House of the People or the Legislative Assembly of the State, shall be eligible to receive the Electoral Bonds.
  • The Electoral Bonds shall be encashed by an eligible Political Party only through a Bank account with the Authorized Bank.
  • The bonds are issued in multiples of Rs. 1,000, Rs. 10,000, Rs. 1 lakh, Rs. 10 lakh and Rs. 1 crore without any maximum limit.
  • State Bank of India is authorised to issue and encash these bonds, which are valid for 15 days from the date of issuance.

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