UPSC CURRENT AFFAIRS NOTES

UPSC CURRENT AFFAIRS NOTES

2/24/2025, 2:14:52 AM

Trend. Good for prelims

UPSC CURRENT AFFAIRS NOTES

1/31/2025, 2:23:00 PM

🛑 *COMPETITION COMMISSION OF INDIA (CCI)* It was established as a statutory body in 2009 by the Government *under the Competition Act, 2002.* It comes under the *Ministry of Corporate Affairs* . *It is a quasi-judicial body* . It consists of a Chairperson and not more than 6 Members appointed by the Central Government. ♦️Objectives: To eliminate practices that have an adverse effect on competition; To promote and sustain competition; To protect the interests of consumers, and ensure freedom of trade in the markets of India. ♦️Powers and Responsibilities: The CCI has been entrusted with the enforcement and implementation of the Competition Act (2002). It has the authority to investigate anti-competitive agreements, abuse of dominant position, and regulate combinations (acquisitions, mergers, and amalgamations) to ensure they do not have an adverse effect on competition in India.

UPSC CURRENT AFFAIRS NOTES

1/31/2025, 1:07:27 PM

🛑 *MINERAL SECURITY PARTNERSHIP (MSP)* It is a US-led collaboration of countries that aims to catalyse public and private investment in critical mineral supply chains globally. Its *member countries are Australia, Canada, Finland, France, Germany, Japan, the South Korea, Sweden, the United Kingdom, US, the European Union, Italy and India.* Apart from MSP, India is already a member of the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development, which supports the advancement of good mining governance. The MSP is elitist in its very idea of formation and induction of members. Countries like Indonesia, Vietnam, the Democratic Republic of Congo, which have abundant reserves of critical minerals are not part of this strategic grouping formed by the US.