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Kotak Mutual Fund launches investor education program in partnership with CBSE

News: Together with the Central Board of Secondary Education (CBSE), Kotak Mutual Fund began an investor education and awareness program on Tuesday.

• According to Kotak Mutual Fund, the “Seekho Paiso ki Bhasha” program will open doors for financial literacy while also empowering educators throughout India.
• The investor education and awareness activities will be held in more than 100 places to guarantee a wide reach and accessibility for instructors around the nation.
• Kotak Mutual Fund hopes to reach more than 75,000 CBSE teachers by the program’s conclusion, with 50% of those teachers anticipated to be female.
• “In order to empower them and support their development of financial literacy, this initiative seeks to educate and raise awareness among approximately 75,000 educators. Ultimately, this can aid in contributing to India’s progress towards a potentially progressive future.

Govt notifies final valuation rules for angel tax on foreign investments

News: In order to ascertain if foreign investments in unlisted shares in India carry a premium that may be subject to a levy under angel tax regulations, the finance ministry has released the final valuation guidelines.

• The final regulations, which were announced late on Monday by the ministry, aim to give investors clarity, offer a selection of valuation techniques so that the value of unlisted shares can be determined precisely, and assist in avoiding the angel tax net—an anti-avoidance measure that was made applicable to non-residents in the Finance Act of 2023.
• Share premiums obtained by entities without a significant public interest are taxable as “income from other sources” under the Income Tax Act.
• Since most of these organizations negotiate dilution of their ownership in the firm based on future valuation of the company, startups have been contending that this has an impact on their capacity to attract funding.
• The government aims to guarantee that the future prospects of the company are also taken into account in the assessment for tax reasons by providing flexibility in the valuation procedures.

NHRC of India issues an advisory to central and state governments along with union territory administrations to ensure welfare of transgender persons.

News: The National Human Rights Commission (NHRC) of India has taken a significant step towards upholding the rights and welfare of transgender persons by issuing a crucial advisory to both central and state governments, as well as union territory administrations.

• This advisory serves as a commendable effort to address the longstanding issues faced by the transgender community in India.
• The NHRC’s advisory emphasizes the need for comprehensive policies and measures aimed at safeguarding the dignity, equality, and well-being of transgender individuals.
• It calls for the removal of discriminatory practices, ensuring access to education, healthcare, and employment opportunities, and promoting social inclusivity.
• By issuing this advisory, the NHRC underscores the importance of recognizing the rights of transgender persons as an essential part of human rights. 
• It is a significant step towards creating a more inclusive and equitable society, where every individual can live a life of dignity and without discrimination.
• It is now incumbent upon the central and state governments, as well as union territory administrations, to take proactive steps to implement these recommendations and ensure the welfare of transgender persons across the nation.

Union Home Minister Amit Shah chairs 31st meeting of Northern Zonal Council at Amritsar, Punjab 

News: The 31st meeting of the Northern Zonal Council was chaired by Union Home Minister and Minister of Cooperation, Amit Shah, today in Amritsar, Punjab.

• Attending the meeting were senior ministers from member states, lieutenant governors of Delhi, Jammu Kashmir and Ladakh, the chief ministers of Punjab, Haryana, and Himachal Pradesh, as well as senior officials.
• The Northern Zonal Council holds a significant position in the development and security of the nation, accounting for 13% of the population and 21% of the country’s geographical area. 
• Additionally, the region produces about 35% of the nation’s food grains. The bulk of those manning the nation’s borders in the Central Armed Police Forces (CAPFs) and Army are from the states and Union Territories in the Northern Zonal Council.
• The government’s efforts to combat terrorism and drugs have been successful. According to him, the Modi administration is dedicated to bolstering border security, and anti-drone systems would soon be installed there.
• The Home Minister asked all of the Northern Zonal Council’s member states to approach the resolution of their disagreements over water sharing amicably and cooperatively.
• During its 31st meeting in Amritsar, the Northern Zonal Council deliberated on a broad range of topics, encompassing the sharing of inter-state river flows, road connectivity under PMGSY, cybercrime prevention, the Jal Jeevan Mission, and the resumption of flights under the UDAN Scheme.

Hangzhou Asian Games: India clinches historic gold in Equestrian dressage team event; Overall medal tally rises to 14.

News: On Day 3 of the Asian Games 2023 in Hangzhou, China, India won its third gold medal. With this, the nation’s total medal count stands at 14—3 gold, 4 silver, and 7 bronze.

• After a fierce struggle today, the team consisting of Hriday Chheda, Anush Agarwalla, Sudipti Hajela, and Divyakriit Singh collected 209.205 points to win the gold in the Equestrian Dressage Team event against China.
• After 41 years, the squad finally took home the gold medal in the team competition at the Asian Games, to the delight of Prime Minister Shri Narendra Modi.
• Neha Thakur, the winner of the women’s dinghy race, started the medal run today by taking home the silver medal. 
• With a final net score of 27, the 17-year-old sailor captured this edition’s maiden sailing medal for India.
• In their second matchup in Pool A of the Asian Games, the Indian men’s squash team demonstrated their strength once more, defeating Qatar 3-0. Singapore was defeated 3-0 earlier today by India.
• Tennis: Aqeel Khan and Sarah Ibrahim Khan of Pakistan were faced and defeated by Yuki Bhambri and Ankita Raina, the winning Indian team in mixed doubles, to advance to the third round. Round 3 will match Bhambri and Raina against Philippines.