President's Secretariat  

Envoys of four nations present credentials to President of India (aug 26, 2022)

The President of India, Smt Droupadi Murmu accepted credentials from the Ambassadors of Ecuador, Somalia, Germany and Suriname at a ceremony held at Rashtrapati Bhavan today.

Those who presented their credentials were: 

  1. Mr Francisco Teodoro Maldonado Guevara, Ambassador of the Republic of Ecuador  
  2. Mr Ahmed Ali Dahir, Ambassador of the Federal Republic of Somalia  
  3. Dr Philipp Ackermann, Ambassador of the Federal Republic of Germany  
  4. Mr Arunkoemar Hardien, Ambassador of the Republic of Suriname

DELHI HIGH COURT 

Delhi High Court pulls up CBSE for arbitrarily changing weightage formula for Class 12th results (AUG 26, 2022)

While the CBSE had issued a circular on July 5, 2021, that an equal weightage of 50-50 per cent will be given to the Term I and Term II (theory) exams of Class 12th in the academic year 2021-22, it was recommended on July 21, 2022, a day prior to the declaration of results, that that the weightage formula should be 30-70 per cent.

The high court, in its judgement, said the factum of the recommendation and its acceptance was kept a secret from the public and students at large, until the fag end and the students were informed about it only on the day the results were declared.

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SEBI 

Portfolio Managers Can Invest Up to 30% of Clients' Assets in Securities of 'Associates': Sebi (AUG 26, 2022)

This came after Sebi amended portfolio managers’ rules on Monday that mandated prudential limits on investments in associates and related parties of portfolio managers, the requirement of taking prior consent of clients for such investments and restrictions based on the credit rating of securities.

The regulator clarified that these rules will not be applicable for advisory portfolio management services, co-investment portfolio management services and for client categories who in turn manage funds under government mandates.

For Circular, Click Here

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NEWS AT GLANCE

  • Supreme Court refers freebies issue to three judge bench; Also calls for an expert committee and all-party meeting to discuss the subject. 
  • Justice UU Lalit to assume charge as Chief Justice of India tomorrow.  
  • Veteran Congress leader Ghulam Nabi Azad resigns from primary membership of party.  
  • UGC declares 21 universities as fake; Highest number of fake institutions functioning in Delhi.
  • Cabinet Committee on Economic Affairs approves policy amendment exempting Wheat Flour from export ban. 
  • Home Minister Amit Shah reviews security in Jammu and Kashmir; asks security forces to continue well planned counter terrorism operations. 
  • Country is ready for launch of 5G services by October this year, says the Communications Minister Ashwini Vaishnaw.

WORD OF THE DAY

Abrogate is to annul or repeal a law or pass legislation that contradicts the prior law. Abrogate also applies to revoking or withdrawing conditions of a contract.

MARKET TODAY (as on 26.08.2022)

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1 US Dollar = 79.87 Indian Rupee (Last updated · 26 August at 4:00 pm UTC)

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