PIB 20th January

Contents:

1. Youth Co:Lab -national innovation challenge
2. United Nations Commission on International Trade Law (UNCITRAL),1976
3. Competition Commission of India
4. Paperless Licensing for Petroleum Service Stations
5. Inauguration of  the second Integrated Check Post at Jogbani-Biratnagar

YOUTH CO:LAB -NATIONAL INNOVATION CHALLENGE

Why in news?

Atal Innovation Mission & UNDP hosts 3 day Youth Co:Lab National Innovation Challenge

Details:

• Youth Co: Lab launched in collaboration by AIM and UNDP in India, aims at fostering technology, promoting youth leadership and social entrepreneurship in India
• Co-created in 2017 by the United Nations Development Programme (UNDP) and the Citi Foundation, Youth Co:Lab aims to establish a common agenda for Asia-Pacific countries to invest in and empower youth to accelerate implementation of the Sustainable Development Goals (SDGs) through leadership, social innovation and entrepreneurship.
• it will enable young students from all over the country and all over the world to participate in ideation and coming up with innovative solutions to many of the problems faced by the word aligned with the SDGs

UNITED NATIONS COMMISSION ON INTERNATIONAL TRADE LAW (UNCITRAL),1976

Why in news?

An International Arbitration Tribunal has dismissed all claims brought against Republic of India in entirety.

Details:

• The Tribunal constituted in accordance with the United Nations Commission on International Trade Law (UNCITRAL) Arbitration Rules 1976, seated at the Hague, Netherlands, and proceedings administered by the Permanent Court of Arbitration, the Hague, Netherlands, rendered its Award in the arbitration brought by Tenoch Holdings Limited (Cyprus)
• This rule is used for the settlement of a broad range of disputes, including disputes between private commercial parties where no arbitral institution is involved, investor-State disputes, State-to-State disputes and commercial disputes administered by arbitral institutions

COMPETITION COMMISSION OF INDIA

Details:

• Competition Commission of India is a statutory body of the Government of India responsible for enforcing The Competition Act, 2002 throughout India and to prevent activities that have an appreciable adverse effect on competition in India
• CCI consists of a Chairperson and 6 Members appointed by the Central Government.
• It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.
• The Commission is also required to give an opinion on competition issues on a reference received from a statutory authority established under any law and to undertake competition advocacy, create public awareness and impart training on competition issues

PAPERLESS LICENSING FOR PETROLEUM SERVICE STATIONS

Why in news?

• The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has launched paperless licensing process through Petroleum and Explosives Safety Organisation (PESO) for petroleum service stations (retail outlets storing and dispensing petrol/diesel for motor conveyances) under the Petroleum Rules, 2002.
• This initiative for petroleum pump licensing is directly going to benefit more than 70,000 petroleum pump owners and oil marketing companies under the Petroleum Rules, 2002
• An added advantage of this move is that the authenticity of the license may be verified on PESO’s website

INAUGURATION OF THE SECOND INTEGRATED CHECK POST AT JOGBANI-BIRATNAGAR

Details:

• The Prime Minister of India will jointly inaugurate the second Integrated Check Post (ICP) at Jogbani-Biratnagar tomorrow with Prime Minister of Nepal, Shri K.P. Oli.
• The second Integrated Check Post  at Jogbani-Biratnagar is  built with Indian assistance to facilitate trade and people’s movement across India-Nepal border.