Current Affairs Current Affairs - 10 September 2018 - Vikalp Education

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Current Affairs - 10 September 2018

General Affairs 

PM Modi To Unveil World's Tallest Statue Of Sardar Patel On October 31
  • Prime Minister Narendra Modi will inaugurate a statue of Sardar Patel, described by the Gujarat government as the world's tallest, on the birth anniversary of India's first home minister on October 31, Chief Minister Vijay Rupani said Sunday.

    Talking to reporters on the sidelines of the BJP's national executive meeting, he said the statue with a height of 182 metres will be a symbol of the country's unity and integrity.

    It has been called as statue of unity by the Gujarat government.

    Vijay Rupani said the Bharatiya Janata Party (BJP) had collected iron, soil and water from across the country to use them to build the statue in the state, a decision announced by PM Modi in 2013 when he was its chief minister.

    In an apparent reference to the issue of Naxalism following the arrest of some activists for allegedly collaborating with Left ultras, Vijay Rupani said the statue will highlight Sardar Patel's works for the country's unity at a time when a few people are working to break it.

    When Modi had made an announcement that his government would build the world's tallest statue to commemorate Patel, opposition parties had termed it as "empty talk" but it has now been raised with world class facilities, he said.

    While the Congress had sidelined Sardar Patel, PM Modi has brought him and his works in front of the world, he said.

    Sardar Patel, a Congress leader, has become a revered figure for the BJP which has sought to project an ideological connect between its espousal of nationalism and his efforts to integrate hundreds of states and regions into India following its independence.

No Voter List Revision In Telangana, Election Panel Fast-Forwards Process
  • The revision of rolls in Telangana - an exacting, time consuming process - has been called off by the Election Commission to make way for polls in the state by the year-end, the time frame Chief Minister K Chandrashekar Rao has been aiming at. The Commission, which rebuked the Chief Minister over the week-end for "announcing  the schedule", today said it would stick to the lists from January 1, 2018 and ask the voters to flag any new names or discrepancies.
    The final list will be published on October 8.

    The Commission had decided to send a team to Hyderabad on Tuesday to assess the situation at the ground level and see how ready the state is for elections. 

    The top election body, however, said it has enough Electronic Voting Machines or EVMs and Voter Verified Paper Audit Trails or VVPAT machine to hold elections in Telangana, where the assembly was dissolved last week, eight months ahead of schedule.

    Dismissing Congress claims that due to the ongoing revision of electoral rolls, a technicality, elections in the state cannot be held by year-end, the Commission said elections in the state can be held by year-end, along with Rajasthan, Chhattisgarh and Madhya Pradesh.

    The BJP, which rules the three other states going to polls, has announced that it will contest all 119 seats in Telangana. KCR, as the Chief Minister is popularly known, has announced the names of 100 candidates from his party.

    The Congress, which was betting on elections next year, is hoping for a tie-up with Chandrababu Naidu, Chief Minister of neighbouring Andhra Pradesh. Mr Naidu has left the decision to his party.

Maharashtra Working On Proposals To Reduce Fuel Prices: Devendra Fadnavis
  • Maharashtra Chief Minister Devendra Fadnavis on Sunday said the state government was working on various proposals to give relief to people from the rising fuel prices.

    Talking to PTI, Mr Fadnavis also said bringing petroleum products under Goods and Services Tax (GST) was one of the ways of reducing the prices.

    "The state government is working on various proposals to reduce the prices of fuel in the state," he said without elaborating on the measures.

    "The best way to control fuel price is to bring it under GST. If the GST Council moves this proposal, then Maharashtra will support it," Mr Fadnavis added.

    Taking a dig at the opposition, Mr Fadnavis said the NDA government reduced the petrol prices 13 times in the first three years.

    "They know that oil prices are dependent on the international markets. This government reduced the price of petrol 13 times in the first three years. Now, international prices of crude oil have skyrocketed," he said.

    He added that if the opposition is so concerned about the high fuel prices, it should announce in the states ruled by the Congress or their alliance partners that there would be no tax on petrol and diesel.

    "But they will not do so, because this is all politically motivated," Mr Fadnavis said.

    The chief minister also slammed the opposition over its call for 'Bharat Bandh' on Monday over on the issue.

    The BJP-led government has under fire over the fuel price hike. The Congress has given a call for a nation-wide shut-down on Monday to protest the increasing petroleum prices.

    Uday Lodh, president of Federation of All Maharashtra Petrol Dealers Association (FAMPEDA) said the government charges 65 per cent taxes of the basic prices of fuel.

    In Maharashtra, apart from 25 per cent and 21 per cent Value Added Tax (VAT) on petrol and diesel respectively, the government has also introduced Rs. 9 and Rs. 1 as various cess on petrol and diesel respectively.

    "Since the basic price of fuel is increasing due to international crude prices, the income of the government increases as the taxes being levied on basic price is stagnant. This means the government is making money at a time when the common man is harried," he said.

    Mr Lodh said the government should either cut down on VAT or the cess to give relief to the common man.

    Maharashtra Finance Minister Sudhir Mungantiwar said in 2014, the state government had imposed a drought cess of Rs. 2 per litre on petrol to support drought-prone Marathwada region.

    "It was the need then and hence the cess was introduced across the state. But, later we removed it and gave exemption of Rs. 3,067 crore to the people," he said.

    The minister said the fuel prices depend on the international rates of crude oil and added that the rates had reached Rs. 83.56 during the UPA rule in 2013.

    The petrol and diesel prices in Mumbai on Sunday are Rs. 87.89 per litre and Rs. 77.09 per litre respectively.

    Since mid-August, petrol price has been marked up by Rs. 3.24 a litre and diesel by Rs. 3.74 per litre as the rupee hit a record low against the US dollar, making petroleum imports costlier.

    The centre had raised excise duty on petrol by Rs. 11.77 a litre and that on diesel by 13.47 a litre in nine instalments between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs. 2 a litre.

Congress Backing "Urban Naxals" Is Vote Bank Politics: Amit Shah
  • Launching a blistering attack on the Opposition, BJP chief Amit Shah on Saturday, called the proposed 'mahagathbandhan' an "illusion, eyewash and sham." The BJP said the Narendra Modi government works for "making India" while the Congress' political game plan is "breaking India" for "self- interest." 
    Top minister in the government Nirmala Sitharaman, who led the party's interaction with the media, said at a press conference that the party president referred to the subject of urban Naxals and said that the Congress speaks about this issue as part of its vote bank politics. He also congratulated the Maharashtra government and the Chief Minister Devendra Fadnavis for his action against the activists allegedly linked with the Bhima Koregaon case.

    The BJP would return to power in 2019 with a "bigger majority than what it got in 2014", Ms Sitharaman quoted the BJP chief. Mr Shah has asked party office bearers to build a narrative around development and nationalism, while painting the Opposition as those sympathising with "urban Naxals". 

    The defence minister said her party chief termed the Opposition as "disruptionists" and added that it no longer seemed to be representing the voice of the people in Parliament. "People will never forgive it (Opposition) for this crime," Mr Shah said, according to an official statement.

    The BJP chief, at the National Executive, has asked party workers to organise various events on Mahatma Gandhi's birth anniversary on October 2 and observe September 28 -the day army carried out surgical strikes across the Line of Control in 2016 - as the "Shaurya Diwas". The party will also observe "sewa saptah" or service week between September 17 and 25, Mr Shah said.

    Prime Minister Narendra Modi, his top ministers and the chief ministers of the BJP-ruled states, were in attendance as Mr Shah asserted that the party will return to power in 2019 on the basis of the government's performance, the PM's charismatic leadership and its organisational strength.

Maharashtra To Impose Fines For Open Defecation, Spitting, Littering
  • The Maharashtra government has laid down fines ranging from Rs. 150 to Rs. 500 to curb the menace of open defecation, littering, and spitting in public.

    In an order issued Friday by the state Urban Development department, which is headed by Chief Minister Devendra Fadnavis, the government said that the offence of open defecation would invite a fine of Rs. 500 while that for throwing garbage and spitting in public would be Rs. 180 and Rs. 150 respectively.

    The fine amount has been levied as per categorisation of areas into classes A, B C and D, officials said.

    "The government wants local bodies to achieve a target of 100 per cent segregation and disposal of solid waste. Local bodies have now been delegated powers to ensure individuals, societies and organisations cooperate in keeping the state clean," an official from the Urban Development department said.

    The state government's orders come in the wake of a Supreme Court order on August 31 castigating some states and Union Territories, including Maharashtra, for not framing any policy under the 2016 Solid Waste Management Rule even after the passage of two years.

Business Affairs

SEBI initiates public consultation on FPI norms as panel suggests major changes, more time
  • In relief to foreign investors worried over new KYC and beneficiary ownership norms, regulator SEBI initiated a public consultation process on Saturday for finalising the new guidelines after a high-powered panel suggested changes on several contentious proposals and more time for compliance.

    Amid concerns in some quarters that several foreign funds, including those managed and owned by NRIs and PIOs, may face difficulties to meet the new norms even within the extended deadline of December, the panel headed by former RBI Deputy Governor (rtd) H R Khan has suggested several changes on the basis of the inputs from the finance ministry and industry representatives.

    Releasing the panel's interim report for public comments till September 17, SEBI said the committee has suggested allowing NRIs, OCIs (Overseas Citizens of India) and RIs (Resident Indians) to be allowed to hold non-controlling stake in FPIs and no restriction should be imposed on them to manage non-investing FPIs or SEBI-registered offshore funds, as also in case of registered investment managers.

    It has been recommended that if single and aggregate NRI/OCI/RI holding is below 25 per cent and 50 per cent, respectively, of the assets under management in the FPI, then such persons may be allowed to be constituents of the FPI.

    The panel has also suggested that erstwhile PIOs (Persons of Indian Origin) should not be subjected to any restrictions, while it has recommended allowing clubbing of investment limits for well-regulated and publicly held FPIs (foreign portfolio investors) having common control.

    "Clubbing of investment limit for FPIs may be on the basis of common ownership i.e. all entities having direct or indirect common shareholding/ beneficial interest, of more than 50 per cent or based on common control," the report said.

    However, clubbing may not be applicable if FPIs are appropriately regulated public retail funds, which would include mutual funds, insurance companies and pension funds.

    It has also favoured doing away with additional KYC documentation requirements for beneficial owners (BOs) in case of government-related (Category 1) FPIs.

    "KYC Review of Category 1 FPIs should be done at the time of continuance of their FPI registration," the report said.

    "For the purpose of KYC requirements, an entity would be considered to be a 'foreign government agency' only if more than 75 per cent ownership entitlement and control is held by the government of a foreign country (including FPIs from high-risk jurisdictions)," it added.

    Changes have also been suggested regarding identification of senior managing official of FPIs and for beneficial owners of listed entities, as also regarding disclosure of personal information.

    According to the report, senior managing official will mean "an individual as designated by the FPI who holds a senior management position and makes key decisions relating to the FPI".

    With regard to BO declaration for partnership firms, the report said that in case the view is taken that partnership company set up as general partner or limited partnership is required to identify BO on control basis then appropriate changes may be made in KYC requirements.

    However, all new rules will apply equally to those investors using the Offshore Derivative Instruments (popularly known as P-Notes).

    Besides, the panel has suggested giving six months to FPIs for compliance to new rules, after they are finalised, while the non-compliant investors can be given further 180 days to wind down their existing positions.

    SEBI said the panel is also examining separately whether any recommendation to merge the FPI and NRI/OCI routes of investment can be made to the government and the Reserve Bank.

    The panel has also recommended that SEBI may clarify suitable actions that FPIs need to take for divestment or re-classification of holdings as per the FDI limits, after consulting with the RBI.

    It has also suggested to SEBI to consult the government to evolve a more objective criteria for defining high-risk jurisdictions.

    SEBI had issued a circular in April, proposing the new norms on KYC and beneficial owner identification, the deadline for which was extended later by two months till December. The proposed move was aimed at checking any possible re-routing of funds of Indians and NRIs through overseas locations such as Mauritius, Singapore and Dubai.

    However, several FPIs had expressed concerns over the proposed changes in rules and a lobby group named AMRI (Asset Management Roundtable of India) recently said the immediate impact of the new norms, if not amended, would be that $ 75-billion investment managed by OCIs, PIOs and NRIs will be disqualified from investing into India, and the funds will have to be withdrawn and liquidated within a short time-frame.

    The organisation also warned that it will have severe impact on stocks and rupee.

    SEBI, however, had said it is "preposterous and highly irresponsible" to claim that $75 billion will move out of India because of the move.

Finance Ministry working with states on strategy to boost GST revenues
  • Alarmed by a nearly four-fold rise in GST compensation to states for June-July, the Finance Ministry is crafting a strategy to shore up tax revenues and engaging with states to identify issues hindering their collections.

    Finance Secretary Hasmukh Adhia has started meeting with GST officers, both from central and state tax departments, in the state capitals to understand issues plaguing the GST collections.

    There has been a spike in the bi-monthly GST compensation paid to the states by the Centre.

    The Centre paid Rs 14,930 crore to compensate states for revenue loss incurred in June and July, a nearly four-fold jump compared to Rs 3,899 crore paid for the months of April and May.

    "A strategy is to be devised to shore up GST revenues. The amount of compensation to be paid to each state varies every month and there is no set pattern," an official told PTI.

    The reason for increased compensation also varied from state to state. For instance, in one of the cases, a state saw a huge outgo on account of VAT refund following a court verdict, the official added.

    A discussion to shore up revenues has already happened with four states-- Punjab, Himachal Pradesh, Puducherry and Jammu & Kashmir, while a dialogue with Bihar and Uttarakhand is slated to take place later this month.

    The official said that one of the options being considered is stepping up anti-evasion measures with a focus on top 30 taxpayers, but added that the Centre will ensure that the fix to the problem will not be intrusive on businesses.

    "Data analytics will be put to use to examine the profile of top 30 taxpayers to study their tax payment pre and post GST implementation," the official added.

    The Finance Ministry has targeted monthly GST collections to be Rs 1 lakh crore for this fiscal, but the actual mop up has fallen short of the target month after month. The sole exception was the month of April in which the numbers exceeded Rs 1 lakh crore.

    The collections stood at Rs 94,016 crore in May, Rs 95,610 crore in June, Rs 96,483 crore in July and Rs 93,960 crore in August.

    The Centre had agreed to compensate the states for revenue loss on account of GST implementation for a period of five years.

    The loss of revenue to a state is calculated based on the difference between the actual realisation to a state under GST regime and the tax revenue it would have got under the old indirect tax regime after considering a 14 per cent increase over the base year of 2015-16.

    In 2017-18, the Centre had released Rs 41,147 crore to the states as GST compensation to ensure that the revenue of the states is protected at the level of 14 per cent over the base year tax collection in 2015-16.

    The revenue gap of each state is coming down since July and the average revenue gap of all states for last financial year was around 17 per cent, according to the finance ministry.

    Under GST, a cess is levied on luxury, demerit and sin goods over and above the highest tax rate of 28 per cent and the proceeds are utilised to compensate states for revenue loss. On an average, about Rs 8,000 crore is collected every month from this cess.

Weak rupee, raging oil prices could help rebuild flood-hit Kerala, here's how
  • The ongoing depreciation in rupee and high oil prices will help in the rebuilding efforts in flood-hit Kerala as remittances by the diaspora are going up, Kochi-based lender Federal Bank said.

    The bank feels reverses in its asset quality may reflect in the December quarter numbers once the exact impact of the damage and short-term forbearances wear-off.

    "The only saving grace is the rupee weakening and the oil being strong. This will lead to the NRIs in the Middle East remitting more and will help the rebuilding efforts," Federal Bank managing director and chief executive officer Shyam Srinivasan told PTI.

    He said the depreciation in rupee, which is touching record lows in each of the trading sessions recently and has slipped to 72 against the US dollar, and the diaspora remittances "soften the blow" of the floods.

    Srinivasan said there are signs of a spurt in remittances already, with the banks remittance handling go up to Rs 1,000 crore per week last fortnight, as against the usual average of Rs 700-800 crore.

    He was, however, quick to add that while remittances are not the solution to fight impact of disasters like the floods that have claimed over 400 lives, the current trend will help.

    "It will also help the bank garner much-needed deposits, which can ploughed into supporting credit for rebuilding," he said.

    When asked about the impact on asset quality, Srinivasan reaffirmed comments made during an investor call right in the aftermath of the floods last month and said that it will take three to four months before it plays into its loan book, if it were to.

    He said exposures to retail and small business segments will get advantage of regulatory dispensations that allow for non-recognition as a non-performing asset (NPA) in case of a calamity.

    Then afterward, it will be a case of how the cash flows restart, he said, adding that people are getting back to normal lives with a greater confidence.

    "The immediate impact of the floods on the asset quality will be on recovery efforts on assets already classified as non-performing," he said, pointing out that people would like to focus on rebuilding rather than paying old bad debts.

    He said loan demand will also go up, especially in the retail segment, as the rebuilding efforts gather steam.

    The bank is already seeing a spurt in consumer loans and construction loans, he said, adding that tourism activities related loans will also go up so that facilities are ready to cater to the inflows which start in the year-end.

    The bank is also one among two lenders which have been chosen by the state government to extend mortgage loans to government employees, Srinivasan said, adding this alone will get it business of Rs 500 crore.

    Over a third of the banks over Rs 94,000-crore book is concentrated in Kerala, he said, adding that he expects the retail boom growth in the state to be much faster than the usual rate of up to 18 per cent.

    When asked about analysts view of gold loans going up in the wake of floods, Srinivasan said Federal Bank has not seen a spurt in demand in the last two weeks, but added that the bank is also very open to grow the book.

    Srinivasan said the rebuilding efforts will take up to two years.

SEBI may summon Kochhars soon; board to discuss coordinated efforts with govt, RBI
  • Capital markets regulator SEBI may soon summon ICICI Bank's on-leave CEO Chanda Kochhar and her husband with regard to a probe into alleged regulatory lapses with regard to his business dealings, officials said Sunday.

    Besides, some other top officials of the bank, as also from Videocon, which allegedly benefitted due to its association with Kochhar's husband, are also likely to be called for their personal hearings regarding charges against them that may lead to the bank and its embattled chief being slapped with several crores of rupees in fines and other penal actions including ban from markets and directorships.

    According to top officials, the multi-agency probe into ICICI Bank and business dealings of the Kochhar family will also be discussed by SEBI's board next week as it has been felt that coordinated efforts are required to be taken by SEBI, RBI and the government in this case due to its systemic importance.

    The bank and Kochhar have been maintaining there has been no regulatory violation on their part and that she was not aware of specific business dealings of her husband.

    The board of SEBI has got representatives from the finance and corporate affairs ministries as well as the Reserve Bank of India, besides its own whole time members and independent members.

    Among others, this case is already being looked into by the RBI and the Corporate Affairs Ministry.

    The Securities and Exchange Board of India (SEBI) had earlier issued show cause notices to ICICI Bank, Kochhar and others after its preliminary examination favoured initiating adjudication proceedings against them for alleged violation of listing disclosure norms regarding 'conflict of interest' in business dealings of her husband with Videocon Group.

    Kochhar is believed to have maintained that she had no information about her husband's business dealings, while the bank has also given similar replies.

    However, the regulator is of the view that Kochhar or the bank cannot feign ignorance in this matter as they have been regularly listing the name of her husband Deepak Kochhar as a 'related party' in the regulatory filings of the company, including in the latest annual filing submitted to the US markets regulator SEC, which is incidentally also probing the case, officials said.

    The bank has maintained the same stance in its submissions to the SEC as well, officials added.

    While the US regulator may eventually agree to settle the matter on payment of some settlement fees, officials said it is unlikely to be the case here in India even though the bank has indicated such a willingness to both the regulators.

    The bank is being probed for a number of serious allegations including about disclosure lapses regarding business dealings of the CEO's husband and brother-in-law that are suspected to be directly or indirectly linked to the bank or its big borrowers, officials said.

    The regulator may soon issue summons for personal hearings of Kochhars and others over the next few weeks, they said.

    ICICI Bank may face a penalty of up to Rs 25 crore under the relevant SEBI regulations for such lapses, while the fine for Kochhar may go up to Rs 10 crore, besides other penal actions, a senior official said.

    On its part, ICICI Bank's board has also constituted an "independent enquiry" and Kochhar has gone on leave till completion of this enquiry.

    While Kochhar remains MD and CEO, the group's life insurance business head Sandeep Bakshi has been appointed as a whole time director and COO to handle day-to-day operations of the bank. Bakshi reports to Kochhar officially.

    The bank has maintained that its board has full faith in Kochhar.

    As per SEBI's preliminary probe, Chanda Kochhar's husband Deepak Kochhar has had many business dealings with Videocon Group over the last several years.

    Besides, Deepak Kochhar and Videocon chief Venugopal Dhoot were co-founders and promoters of NuPower, besides other associations.

    The cases under scanner include the significant loan exposure of the bank to Videocon way back in 2012 and the alleged involvement of Kochhar's family members in the restructuring of that loan. Kochhar and her family members are facing allegations of quid pro quo and conflict of interest with respect to a loan extended to certain entities.

Jio, Airtel, other telcos fined for not meeting service quality norms in March quarter
  • Regulator TRAI has imposed penalties on major telecom operators, including Reliance Jio, Bharti Airtel, Vodafone and Idea Cellular (now merged), for slipping on various service quality benchmarks for the March quarter, according to multiple sources.

    The fines cover various parameters and service areas, and all the operators are in the process of making the payment, sources told PTI.

    About Rs 34 lakh fine has been imposed for March 2018 quarter on Reliance Jio, the aggressive player whose offerings since 2016 have shaken the market and triggered a bruising tariff war among operators.

    The penalty on the Mukesh Ambani-led firm is on account of TRAI-defined service quality parameters, including Point of Interconnect congestion, accessibility of call centres or customer care, and percentage of calls answered by operators (voice to voice) in a set timeframe.

    An e-mail sent to Reliance Jio seeking its response on the penalty did not elicit a response.

    Maintaining its watch on service quality in the sector, the Telecom Regulatory Authority of India (TRAI) had tightened the rules and asked players to abide by its new quality of service (QoS) benchmarks from October 1, 2017.

    The latest assessment reflects how the operators have fared between January and March 2018 on TRAI's new service quality benchmarks.

    Bharti Airtel -- which was the largest telecom operator in the country till the merger of Vodafone and Idea Cellular shuffled the pecking order late last month -- has been fined to the tune of about Rs 11 lakh for the three months to March, as per sources.

    Its penalties are on account of norms relating to metering and billing (postpaid), accessibility of call centre and customer care, percentage of calls answered by operators within defined timeframe parameters.

    The fine imposed on Idea Cellular is about Rs 12.5 lakh for the March quarter.

    The penalties pertain to various circles on parametres like call drops, percentage of calls answered by operators within a set timeframe, and requests for closure of services complied within seven days.

    In case of Vodafone, the March quarter penalties stood at only about Rs 4 lakh on issues like metering and billing (pre-paid), time taken to comply with request for termination or closure of service, and percentage of calls answered by operators within a timeframe.

    While Bharti Airtel declined to comment, Idea Cellular and Vodafone did not respond to e-mails queries on the issue.

    TRAI Chairman R S Sharma had earlier told PTI that the regulator is in the final stage of imposing penalty on operators which have not met service quality norms for the March quarter, but had not given details.

    TRAI has been maintaining that it does not wish to name specific operators or penalties slapped on them for not meeting the service quality criteria. Accordingly, it has never published this information either on its website or through a statement.

    As per the new quality of service benchmarks of TRAI, now call drops are measured at mobile tower level instead of telecom circle level. TRAI was of the view that average calculated at circle level may hide many issues.

General Awareness

    Trust status for Bharat Ke Veer
    • What to study?

      For Prelims and Mains: Bharat Ke Veer- key facts and significance.

      Context: The government has granted the status of a trust to ‘Bharat Ke Veer’, a private initiative which aids families of paramilitary personnel killed in action. Akshay Kumar and former national badminton champion Pullela Gopichand have been included as trustees.

      Support by the government:

      The initiative has now been formalized into a registered trust for providing a platform for all citizens to contribute and provide assistance to the families of martyred personnel.
      The public can visit the ‘Bharat Ke Veer’ application and website, and contribute to support the families of jawans who die in the line of duty.
      Contributions to Bharat Ke Veer have been exempted from Income Tax.

      About Bharat ke Veer:

      What is it? It is a fund-raising initiative by the Ministry of Home Affairs, Government of India on behalf of members of the Indian Armed Forces. It aims to enable willing donors to contribute towards the family of a braveheart who sacrificed his/her life in line of duty. This website is technically supported by National Informatics Centre (NIC) and powered by State Bank of India.

      How it works? It allows anyone to financially support the bravehearts of his choice or towards the “Bharat Ke Veer” corpus. The amount so donated will be credited to the account of ‘Next of Kin’ of those Central Armed Police Force/Central Para Military Force soldiers. To ensure maximum coverage, a cap of 15 lakh rupees is imposed and the donors would be alerted if the amount exceeds, so that they can choose to divert part of the donation to another braveheart account or to the “Bharat Ke Veer” corpus.

      Who will manage the fund? “Bharat Ke Veer” corpus would be managed by a committee made up of eminent persons of repute and senior Government officials, who would decide to disburse the fund equitably to the braveheart’s family on need basis.

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