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PIB Summaries 03 October 2022

CONTENTS

  1. PM’s Scheme for Mentoring Young Authors – YUVA 2.0
  2. Telecom Technology Development Fund scheme
  3. Insolvency and Bankruptcy Board of India

PM’s Scheme for Mentoring Young Authors – YUVA 2.0


Focus: Government Policies and Interventions

Why in News?

The Ministry of Education, Department of Higher Education, today launched YUVA 2.0 – Prime Minister’s Scheme for Mentoring Young Authors, an Author Mentorship programme to train young and budding authors (below 30 years of age) in order to promote reading, writing and book culture in the country, and project India and Indian writings globally

About YUVA:

  • The launch of YUVA (Young, Upcoming and Versatile Authors) is to encourage young writers to write about India’s freedom struggle. 
  • YUVA is a part of India@75 Project (Azadi Ka Amrit Mahotsav) to bring to the fore the perspectives of the young generation of writers on themes like Unsung Heroes, Freedom Fighters, Unknown and Forgotten Places and their role in National Movement, and other related themes in an innovative and creative manner.
  • This scheme will thus help to develop a stream of writers who can write on a spectrum of subjects to promote Indian heritage, culture and knowledge system.

Click Here To Read More: PM’s Scheme for Mentoring Young Authors – YUVA 2.0


Telecom Technology Development Fund scheme


Focus: Government policies and Interventions

Why in News?

Universal Service Obligation Fund (USOF), a body under the Department of Telecommunications, officially launched Telecom Technology Development Fund (TTDF) Scheme.

About Telecom Technology Development Fund (TTDF) Scheme:

  • The scheme is aligned with Prime Minister clarion call of adding Jan Anusandhaan in the new phase of Amrit Kaal.
  • Telecom Technology Development Fund (TTDF) aims to fund R&D in rural-specific communication technology applications and form synergies among academia, start-ups, research institutes, and the industry to build and develop the telecom ecosystem.
  • Additionally, the Scheme aims to promote technology ownership and indigenous manufacturing, create a culture of technology co-innovation, reduce imports, boost export opportunities and creation of Intellectual Property.

Click Here To Read More : Telecom Technology Development Fund scheme


Insolvency and Bankruptcy Board of India


Focus: GS III- Indian Economy

Why in News?

The Insolvency and Bankruptcy Board of India (IBBI) celebrated its sixth Annual Day .

What is Insolvency and Bankruptcy?

  • Insolvency is a financial status: your debts are greater than the fair market value of your assets & you’re unable to pay your debts as they generally become due.
  • Bankruptcy is a legal status: it’s a legal procedure whereupon an insolvent person files for protection from her creditors so that they cannot commence or continue legal proceedings (like a wage garnishment) against her to recover their debts.

About Insolvency and Bankruptcy Code (IBC), 2016

  • Insolvency and Bankruptcy Code, 2016 provides a time-bound process for resolving insolvency in companies and among individuals.
  • The Government implemented the Insolvency and Bankruptcy Code (IBC) to consolidate all laws related to insolvency and bankruptcy and to tackle Non-Performing Assets (NPA), a problem that has been pulling the Indian economy down for years.

Click Here To Read more: Insolvency and Bankruptcy Board of India


 

 
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