Investor Education and Protection Fund Authority (IEPFA)

An MOU was recently signed between the Investor Education and Protection Fund Authority (IEPFA) and the Association of Chartered Certified Accountants (ACCA).

• Investor Education and Protection Fund Authority (IEPFA) is entrusted with the responsibility of administration of the Investor Education Protection Fund (IEPF).
• It can make refunds of shares, unclaimed dividends, matured deposits or debentures and so on to investors and to promote awareness among investors about IEPF.
• It was established in 2016, under the provisions of section 125 of the Companies Act, 2013.
• IEPFA works under the aegis of the Ministry of Corporate Affairs (MCA).
• Secretary to the Ministry of Corporate Affairs (MCA) is the Ex-officio-Chairperson of the IEPFA.
• IEPF is to be utilized for:
• The refund in respect of unclaimed dividends, matured deposits, matured debentures, the application money due for refund and interest.
• Promotion of investors’ education, awareness and protection.
• Distribution of any disgorged amount among eligible and identifiable applicants for shares or debentures, shareholders, debenture-holders or depositors:
  • Who have suffered losses due to wrong actions by any person, in accordance with the orders made by the Court which had ordered disgorgement.
• Reimbursement of legal expenses incurred in pursuing class action suits by members, debenture-holders or depositors as may be sanctioned by the Tribunal.
• Memorandum of Understanding – Was signed between the Investor Education and Protection Fund Authority (IEPFA) and the Association of Chartered Certified Accountants (ACCA).
• Objectives – To incorporate financial education into schools to foster a financial literacy culture that will help build a more robust economy and responsible investors.
• To create awareness on investor education, and investor protection to students.
• Equipping students with financial literacy to make wise choices and to create a generation that is prepared for the challenges that lie ahead and has financial stability.
• Progress of the collaboration – It is a four-year partnership, in which IEPFA will facilitate the introduction of Financial Education for You (FEFY) in select schools (on pilot basis), spanning both urban and rural regions.
• Financial Education for You (FEFY) – It is a four-year course by ACCA that targets schoolchildren in grades from 6 to 9.
• It aims to foster sound financial decision-making among young minds, thus laying a strong foundation for a future generation of informed investors.
• Implementation – Association of Chartered Certified Accountants (ACCA) will provide digital content free of cost and offer professional training to school educators.
• The program is designed to be highly interactive, to drive behavioral change in financial decision-making among students.
• Association of Chartered Certified Accountants (ACCA) – Founded in 1904 is a global professional accounting body that offers qualifications on accountancy and advancing standards in accountancy worldwide.

SAMPARK 4.0

SAMPARK 4.0 was recently conducted in Maharashtra that aids to ensure the well-being of naval veterans and their families, particularly those residing in remote and inaccessible regions.

• Launched By – Indian Navy under the ECHS (Ex-Servicemen Contributory Health Scheme).
• Objectives – It aims to foster a deeper sense of trust among veterans and their families.
• It empower naval veterans to access healthcare benefits efficiently and ensure no veteran is left without necessary care.
• Launch Date – December 16, 2024.
• Locations – A dedicated team of 1 officer and 5 sailors will visit ECHS Polyclinics in Thane, Nasik (Deolali), Aurangabad, Ahmednagar, Solapur, Kolhapur and Pune.
• Activities – Conduct interactive sessions to educate veterans about healthcare services, entitlements, and procedures within ECHS, empowering them to access these benefits in a better manner.
• Facilitate direct communication with ECHS (Navy) officials.
• Address grievances related to accessing healthcare services.
• About ECHS – Ex-Servicemen Contributory Health Scheme (ECHS) was launched in 2003 to provide allopathic and AYUSH Medicare to Ex-servicemen pensioner and their dependents.
• It is provided through a network of ECHS Polyclinics, Service medical facilities, Government hospitals and private hospitals.
• The Scheme has been structured on the lines of Central Government Health Scheme to ensure cashless transactions, for the patients and is financed by the Government of India.
• There are 427 Polyclinics (excluding 6 Polyclinics in Nepal) in 30 Regional Centers sanctioned by the Government.
• ECHS Polyclinics are designed to provide 'Out Patient Care' which includes consultation, essential investigation and provision of medicines.

Athlete Biological Passport (ABP)

The World Anti-Doping Agency has granted approval for the National Dope Testing Laboratory (NDTL), to be an Athlete Passport Management Unit (APMU) to manage the Athlete Biological Passport (ABP).

• India is part of a group of the 17 APMUs approved by WADA worldwide.
• This milestone marks a significant achievement for India in advancing its anti-doping initiatives.
• India’s APMU would serve the country as well as the anti-doping organizations of neighboring countries.
• Athlete Passport Management Unit (APMU) – It is a specialized unit in the World Anti-Doping Agency (WADA), designed to manage and monitor athletes' biological passports.
• Athlete Biological Passport (ABP) – It is a sophisticated anti-doping tool used to monitor athletes' biological markers over time to detect potential doping practices.
• Instead of identifying specific prohibited substances, the ABP focuses on finding the physiological effects of doping such as insomnia, anxiety and weight Loss.
• Key Features of ABP:
• Biological Profiling – Monitors blood and steroidal variables for suspicious patterns in athletes over time to find doping.
• Haematological Module detects blood doping by monitoring red blood cell parameters.
• Steroidal Module tracks fluctuations in steroid profiles through urine samples.
• Targeted Testing – Data from ABP guides the anti-doping agencies to conduct precise and efficient testing.
• Management Framework – It is governed by the World Anti-Doping Agency (WADA) with comprehensive guidelines.
• It is integrated into WADA’s Anti-Doping Administration and Management System (ADAMS) for seamless monitoring and data sharing.
• Global Implementation – ABP is now an integral part of anti-doping programs worldwide, enhancing fairness and protecting clean athletes by discouraging doping practices through advanced scientific methods.