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• Recently, Securities and Exchange Board of India (SEBI) has notified a new framework prohibiting listed entities, with more than 200 non-qualified institutional buyer holders of non-convertible debt securities, from delisting voluntarily.
• Aim: To protect investors’ interest.

About Non-Convertible Debentures

• They are fixed-income instruments for specific terms and interest rates.
• Big companies issue them to raise funds without giving any option of conversion to equity.
• The interest rates offered on NCD debentures are more or less fixed. On maturity, the investor will get back the principal amount along with interest. 
• Since NCDs are not backed by collateral, but just the creditworthiness of the issuer, ratings given by credit rating agencies become important. 
• Such ratings help investors to understand the history of the issuer’s creditworthiness and what it may look like in the future.

Types of Non-Convertible Debentures: 

• Secured NCDs: They are backed by the issuer company’s assets.
• Unsecured NCDs: They are based only on the creditworthiness of the issuer and not backed by assets, they are called unsecured NCDs.

About NFRA

• It is a body constituted under the provisions of Section 132 of the Companies Act, 2013.
• To serve as an Independent Regulator for the auditing profession.
• Composition: The Companies Act requires the NFRA to have a chairperson who will be appointed by the Central Government and a maximum of 15 members.

Role of the NFRA

• Make recommendations on the foundation and laying down of accounting and auditing policies and standards.
• Monitor and enforce the compliance of the accounting standards and auditing standards.
• Oversee the quality of service of the professionals (such as auditors, CFOs, etc) and suggest measures required for improvement in the quality of service.
• NFRA enjoy same powers as a Civil Court under the Code of Criminal Procedure, 1908.

Scope of the NFRA

• Companies listed in India.
• Unlisted Companies whose:
  • Net worth ≥ Rs. 500 crore; or
  • Paid up Capital ≥ Rs. 500 crore; or
  • Annual turnover ≥ Rs. 1000 crore (As on 31st March of the preceding financial year); OR
  • Companies whose securities are listed outside India.
• Certain class of bodies corporate or persons (auditors) in relation to matters of professional or other misconduct by a member or firm of Chartered Accountants or auditors. 

• Nudge Institute has built a framework for agriculture in India based on Ikigai, with a view to offering benefits to all the stakeholders – farmers, consumers, and environment.

About Agri-IKIGAI

• Agri-IKIGAI is a roadmap for smallholder farmers to thrive economically, while fostering a healthier planet and satisfying consumer demands.
  • It is derived from the Japanese concept of “ikigai” which means “doing things that bring joy, meaning, and a sense of contribution”.
• Agri-IKIGAI acknowledges that solely increasing farmers’ income isn’t adequate.
• It is essential to enhance environmental sustainability and offer consumers nutritious, ethically sourced, and residue-free produce. 

About Smallholder Farmers

• They account for 27% of the farming population and cultivate 25% of the arable land.
• Due to their limited resources, they are more vulnerable to crop losses, unpredictable weather patterns, and depleting soil health.

• Recently, 48 African countries have agreed to adopt KDMECC.
• According to a 2023 report by the Internal Displacement Monitoring Centre, there were over 7.5 million new internal disaster displacements last year in Africa.

About KDMECC

• It was originally signed and agreed upon by 15 African states in Kampala, Uganda in July 2022.
• It is the first comprehensive, action-oriented framework led by Member States to address climate-induced mobility in a practical and effective manner.  
• Aim: To promote sustainable development by addressing the complex challenges posed by migration, environment, and climate change.
• Objectives:
  • To recognize the interlinkages between migration, environment, and climate change, and to promote policy coherence and coordination in addressing these issues at the national, regional, and international levels.
  • To address the drivers of migration, protect the rights of migrants, and enhance the resilience of communities affected by environmental and climate-related factors.

• Recently, Indian President Droupadi Mumru, extended greetings on the 10-day Onam festival.

About Onam

• 10-day Onam celebrations in Kerala started with the Atham celebrations on August 20. 
• It is a festival that honours the return of the benevolent Asura King Mahabali. 
• Onam was observed as Vamana Jayanti during the Pallava dynasty.
• Onam is celebrated in the Chingam month, which marks the beginning of the Malayalam calendar and is a harvest celebration.