Current Affairs 3 April 2024 for UPSC And State PSC Exam

SEBI Complaint Redress System (SCORES 2.0)

News- SEBI recently unveiled an updated version of the SEBI Complaint Redress System, known as SCORES 2.0.

ABOUT

• A centralized web-based grievance redress system by SEBI, initiated in 2011.
• Allows investors to lodge complaints, follow up, and check status online.
• Market intermediaries and listed companies can address complaints and report resolutions online.
• For those unfamiliar or without access to SCORES, physical complaints can be lodged at SEBI offices and uploaded to SCORES.

Complaint Eligibility

• Covers issues under the SEBI Act, Securities Contract Regulation Act, Depositories Act, and certain provisions of the Companies Act, 2013.
• Complaints can be filed against listed companies, registrars & transfer agents, brokers, stock exchanges, depository participants, mutual funds, portfolio managers, and other entities like KYC Collective investment scheme, merchant bankers, credit rating agencies, foreign institutional investors, etc.

SCORES 2.0 Features

• Implements reduced and standardized complaint resolution timelines of 21 days.
• Introduces auto-routing of complaints to the relevant entity to speed up the process.
• Ensures timely resolution through designated body monitoring.
• Provides two levels of review for unresolved complaints: first by a ‘designated body’ and, if still unsatisfied, a second review by SEBI.
• Auto-escalation feature for complaints if timelines are not met by the regulated entity.
• Integration with the KYC Registration Agency database for easier investor registration on SCORES.

Sixth Schedule of the Indian Constitution

News- Recently, prominent environmentalist Sonam Wangchuk initiated a hunger strike, advocating for the granting of statehood to Ladakh and its protection under the Sixth Schedule.

About

Sixth Schedule Overview

• Applies to tribal areas in Assam, Meghalaya, Tripura, and Mizoram.
• Enshrined in Articles 244(2) and 275(1) of the Indian Constitution.
• Grants autonomous powers for the administration of these tribal areas.

District and Regional Councils

• Tribal areas are managed as Autonomous Districts.
• The Governor may divide districts with different Scheduled Tribes into Autonomous Regions.
• Authority to reorganize districts and regions, including boundary adjustments and renaming.
• Assam, Mizoram, and Meghalaya each have three Autonomous District Councils (ADCs); Tripura has one.
• District Councils comprise up to 30 members, with a portion nominated by the Governor and the remainder elected.
• Autonomous Regions have separate Regional Councils.
• The Governor sets council rules in consultation with tribal representatives.

Powers of the Councils

• Can legislate on land use, excluding reserved forests.
• Authority over non-reserve forest management, water use for agriculture, and various forms of cultivation.
• Jurisdiction over village/town councils, property inheritance, and social customs.
• Regulation of non-tribal money-lending and trading in Scheduled Districts.
• Legislative, executive, judicial, and financial powers, subject to state-specific variations.
• Requirement for Governor’s assent on laws.
• Powers to collect taxes and levy fees on professions, trades, and other categories.
• Authority to issue mineral extraction licenses or leases.
• Management of schools, healthcare, markets, infrastructure, and transport within their jurisdiction.
• Parliament or state legislature acts may not apply or apply with modifications in autonomous districts/regions.

Administration of Justice

• Councils can establish courts for tribal dispute resolution within their areas.
• The High Court retains jurisdiction over specified suits and cases.
• Council Courts cannot adjudicate cases involving severe crimes.
• The Governor can appoint commissions for investigating administrative issues within autonomous districts or regions.

Zero FIR

News- Recently, a zero FIR case was filed against a former Minister of Telangana for purportedly making inappropriate remarks about the Telangana Chief Minister.

ABOUT:

Zero FIR:

• Definition: A Zero FIR is an FIR that can be filed at any police station regardless of the location of the incident. It allows for immediate registration and action without jurisdictional constraints, later transferred to the appropriate police station.
• Origin: Introduced following the Justice Verma Committee’s recommendations in the aftermath of the 2012 Nirbhaya gang rape in Delhi.
• Purpose: Eliminates jurisdiction as an excuse for delaying investigation, ensuring prompt police action and investigation.
• Objective: Aims to alleviate the victim’s burden of finding the correct police station to file a complaint, enabling quicker legal proceedings and support.

FIR Basics:

• FIR (First Information Report): Recorded by an on-duty police officer, it can be filed by the victim or a witness to the commission of an alleged offense.
• Legal Basis: Not specifically defined in the Indian Penal Code (IPC) or Code of Criminal Procedure (CrPC), 1973, but recognized under Section 154 of CrPC as an FIR in police rules.

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