10&11, December 2017

1.BODHI PARVA: BIMSTEC Festival of Buddhist Heritage

Source: PIB

India is hosting the 2017 edition of “Bodhi Parva: BIMSTEC Festival of Buddhist Heritage” in New Delhi as part of celebrations of 20th Anniversary of BIMSTEC. The festival is organized by the Ministry of External Affairs (MEA) along with Teamwork Arts.

Key facts:

  • To emphasise and raise awareness of this rich and common heritage and mark the 20th anniversary of this unique organisation group, a BIMSTEC Buddhism Festival ‘’Bodhi Parva: BIMSTEC Festival of Buddhist Heritage” has been presented by the BIMSTEC division of the Ministry of External Affairs and produced by Teamwork Arts.
  • A mélange of international performances, films, art, chanting, meditation and philosophical dialogues by known practitioners and scholars will bring out the essence of Buddhism. The universal message of peace and tolerance practiced by Buddhism can address the growing sense of inadequacy in the face of changes and conflicts that people and the world face.

Bodhi Parva:

  • BIMSTEC Buddhist Heritage Festival” aims to look at the different aspects of Buddhism, in today’s context. BIMSTEC has a deep connect with Buddhism, which originated in South Asia and then travelled and rooted itself in South East Asia.
  • Buddhism constitutes a bridge between South and South-East Asia.

More details: http://bodhiparva.com/

2.One nation, one education board

Source: The Hindu

A three-judge Bench of the Supreme Court has dismissed a petition which sought for “one nation, one education board” to end disparity in knowledge dissemination during the formative years of a child.

  • The fundamental right to free and compulsory education under Article 21A includes a common education system where the “rich and the poor are educated under one roof.” However, the current education system under multiple boards did not provide equal opportunity to all.

The 2011 judgment:

  • Supreme Court’s dismissal of this petition is in contrast to a 2011 judgment by the Panchal Bench in the Tamil Nadu and Others versus K. Shyam Sunder and Others. In 2011, a three-judge Bench of the Supreme Court, in an appeal filed by the Tamil Nadu government, had held that a common syllabus, especially for children aged between six and 14, would achieve the “code of common culture.”
  • The 2011 judgment had held that the “right of a child should not be restricted only to free and compulsory education, but should be extended to have quality education without any discrimination on the ground of their economic, social and cultural background.” The court had also observed that Separate education facilities are inherently unequal and violate the doctrine of equality.


  • In August 2011, Tamil Nadu became the first Indian state to have a common syllabus, textbooks and examinations. Prior to that, schools in the state were following four boards—the state board, Matriculation board, Oriental board, and the Anglo-Indian board.
  • While the proposal was mooted a few years ago, the government managed to merge the four boards after a long legal battle. ‘Samacheer Kalvi’ as the common curriculum board is called is framed on the lines of National Curriculum Framework. This, however, does not include national boards like the CBSE and ICSE.
  • While this was the first initiative of its kind, its success is yet to be measured in qualitative terms.

Way ahead:

  • The constitution of the new board requires a lot of thought and planning. The first concern is that the very credibility of our internal assessment is so low that how does one judge students?
  • Moreover the heterogeneity of our schools – while some schools have the best of facilities and teachers, a large number of them don’t even have blackboards – is a huge impediment in standardisation of education.
  • It is a good move, but there has to be some kind of assessment of the progress made by both the student and the school.

3.Insolvency and Bankruptcy Board of India (IBBI)

Source: The Hindu

The Insolvency and Bankruptcy Board of India (IBBI) has notified the regulations for handling of grievances and complaints against Insolvency-related service providers.


  • The regulations enable a stakeholder, namely, debtor, creditor, claimant, service provider, resolution applicant or any other person having an interest in an insolvency resolution, liquidation or bankruptcy transaction to file a grievance or a complaint against service provider.
  • The service provider could be an insolvency professional agency, Insolvency professional, Insolvency professional entity or information utility.
  • The regulations provide for an objective and transparent procedure for disposal of grievances and complaints by the IBBI. The regulations do not spare a mischievous service provider. At the same time, they don’t also harass an innocent service provider.


  • Insolvency and Bankruptcy Board of India was set up on 1st October 2016 under the Insolvency and Bankruptcy Code, 2016 (Code). It is a unique regulator: regulates a profession as well as transactions.
  • It has regulatory oversight over the Insolvency Professionals, Insolvency Professional Agencies and Information Utilities.
  • It writes and enforces rules for transactions, namely, corporate insolvency resolution, corporate liquidation, individual insolvency resolution and individual bankruptcy under the Code.
  • It is a key pillar of the ecosystem responsible for implementation of the Code that consolidates and amends the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals.
  • This is done in a time bound manner for maximization of the value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders.

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