August 21, 2024

An ABC ID is a unique identification number,a 12 digit number that is assigned to students in India when her or she enroll in a graduate or postgraduate course. It serves as a centralized link to your academic credentials, securely storing and managing details like: Degrees Diplomas Certificates Training details Co-curricular accomplishments The Ministry of Education (MoE) plays a crucial role in transforming and maintaining a quality educational system across Indian educational institutions. They have introduced several schemes and programs to evaluate and innovate the educational fields for quality assurance.  The ABC ID card is one such initiative that helps transform the education system strategically with a crucial approach toward student growth.  ABC ID Full Form Full form of ABC ID card is the Academic Bank of Credits. As the name suggests, it records higher educational credits earned by a student from UGC-recognised institutions, which can be transferred between institutions. What is ABC ID? ABC ID cards store the academic credits and information of students in a digital ID to keep them safe and secure. The NEP (National Education Policy) launched this program as an initiative from the UGC (University Grants Commission). The MoE (Ministry of Education) and MeitY (Ministry of Electronics and Information Technology) oversee this programme. Students in India can obtain the Academic Bank of Credits (ABC) ID, a unique 12-digit code, to digitally manage, store, and access their academic credits, including certificates, diplomas, degrees, training details, and co-curricular achievements. The ABC ID acts as a link to DigiLocker, where students can securely store essential documents like exam mark sheets.  The ABC ID receives students’ academic credits from institutions through the National Academic Depository. These credits awarded by registered institutions to a student for a programme will be stored digitally in the ABC, which can be shared or transferred from one institution to another upon students’ consent. This streamlines the authentication for admissions or jobs, simplifying the verification of academic records.  Benefits of Having an ABC ID An ABC ID offers a multitude of advantages for students, including: Simplified Record Management as no more scrambling for physical certificates is possible in such a recording of academic credits. Your ABC ID provides secure access to your academic records anytime, anywhere. Streamlined Applications help forget lengthy verification processes while applying for higher education or jobs, institutions can easily authenticate your credentials through your ABC ID, saving you time and effort. Enhanced Transparency with all your academic credits consolidated under one roof, you gain a clear picture of your educational progress. Improved Mobility as the ABC system facilitates credit transfer between institutions, promoting greater flexibility in your academic path. Increased Recognition as your ABC ID serves as a validated testament to your achievements, adding credibility to your academic profile. Purpose of ABC ID Academic Bank of Credit (ABC) will help open, close, and validate every student’s academic account. Apart from gathering students’ academic credits, ABC ID verifies them and stores the credits to transfer or promote them as per requirements. ABC ID will store credits earned by students from online and distance courses offered by the government of India. Students can redeem the credits and seek direct admission at any university in the second year. How to Create an ABC ID? Step 1: Visit the DigiLocker portal. Existing users can log in by clicking on the ‘Sign In’ button, and new users can click on the ‘Sign Up’ button to create a new account and sign in. Step 2: Use your username and password or Aadhaar number and mobile number to log in. Step 3: After logging in, click on ‘Search Documents’. Step 4: Under ‘Education and Learning’, click on ‘Academic Bank of Credits’. Step 5: Next. select ‘APAAR/ABC ID Card’. Step 6: Enter the details such as your name, gender, date of birth, admission year, institution name, Identity Value, etc. After filling out all the required details and ticking the consent box, you need to click on the ‘Get Document’ button. FAQs What is ABC ID used for? ABC ID, or Academic Bank of Credit ID, helps store the credits earned by each student from higher education. It helps the faculty analyse each student’s weakness and strengthsnt and manage the educational approaches accordingly. Is ABC ID compulsory for students? As per the UGC norms, every student in India must have their ABC ID while pursuing higher education.

According to the city’s traffic police laws as well as the Indian Motor Vehicle Act, breaking, transgressing, or disregarding any of these restrictions is a serious offence. The implementation of these traffic laws (decrees, rules, codes of practice, and acts) can significantly reduce the number of road accidents. These laws are enforced by issuing challans in the names of lawbreakers, motivating them to absorb the rules. Penalties and legal wrangling are always powerful deterrents. The following is a symptomatic list of all possible crimes and their related penalties:  Objectives of the Motor Vehicles (Amendment) Bill Establish a constructive planning framework for road transportation Implement stricter rules for traffic violators To make mandatory for the automobile sector to replace defective vehicles that cause harm to the environment or the individual Ensure safety through a new traffic management system Supporting good samaritans by not making liable to any criminal prosecution Develop a platform to promote new vehicle technology Providing location tracking services for all public service transports Improvements in Motor Vehicles (Amendment) Bill, 2019 Compensation for road accident victims Compulsory Insurance for all motor vehicles Good Samaritans Recall the vehicles if defective National Transportation Policy Road Safety Board Offences and Penalties Taxi Aggregators and Regulate app-based taxi-hailing services for smooth rider experience List of Traffic Violations & Fines in India 2024 Traffic rules violated Fine amount Drunk driving or driving under influence of intoxicated items Rs.10,000 and/or 6 months in prison, Rs.15,000 and/or 2 years in prison in case of repetition of violation Overloading pillion riders Rs.2,000 plus disqualification of licence and/or community service for three months Over speeding Rs.1,000 for LMV, Rs.2,000 for MMV Dangerous driving First Offense: Rs.1,000 to Rs.5,000, licence seizure, and/or 6 months to 1 year in prison  Second Offense: Rs.10,000, licence seizure, and up to 2 yeaRs in prison  Driving without licence Rs.5,000 Driving without insurance Rs.2,000 and/or 3 months in prison, community service, Rs.4,000 in case of repetition of violation Signal jumping Rs.1,000 to Rs.5,000, licence seizure, and/or 6 months to 1 year in prison Riding without helmet Rs.1,000 plus licence scrapping for three months Riding without permit Up to Rs.10,000 and/or up to 6 months imprisonment Juvenile driving Rs.25,000 with three years of imprisonment, cancellation of registration of vehicle for 1 year, and ineligibility to avail a driving licence until 25 years of age   Offences Related to Documents Offences Penalty Driving without carrying a valid driving licence Rs.5,000 Unauthorised driving of a vehicle without carrying a valid driving licence Rs.5,000 General Offense First Time: Rs.500  Second Time: Rs.1,500 Not carrying the required documents as specified in Motor Vehicle Act while driving Rs.500 Driving without a valid auto insurance. Rs.2,000 and/or 3 months in prison, community service, Rs.4,000 in case of repetition of violation Driving without a valid permit Rs.10,000* and/or up to 6 months of prison and community service Travelling without ticket Rs.500 Driving after being disqualified Rs.10,000 Power of Officers towards impounding documents Suspension of driving license under Section 183, 184, 185, 189, 190, 194C, 194D, and 194E* Violating licensing conditions (Aggregators) Rs.25,000 to Rs.1 lakh Driving without Valid Vehicle Fitness Certificate. Up to Rs.5,000 and no less than Rs.2,000 Vehicle without RC Book (Registration Certificate) Rs.2,000 * Changes made in September – 2019   Offences Related to Driving Offences Penalty Violation of rules of road regulation Rs.500* Offences made by juveniles (aged below 18 years) Rs.25,000 with three years of imprisonment, cancellation of registration of vehicle for 1 year, and ineligibility to avail a driving licence until 25 years of age Not obeying the orders of the authorities Rs.2,000 Over speeding of vehicle Rs.1,000 for Light Motor Vehicles (LMVs);  Rs.2,000 for Medium Passenger Vehicles (MPVs)  Oversize vehicles Rs.5,000 Letting an unlicensed individual to drive Rs.1,000 Driving two wheelers without wearing a helmet Rs.1,000 and disqualification of driving license for 3 months* Driving without fastening the seat belts Rs.1,000 Rough/ Reckless/ Negligent Driving Rs.1,000 Dangerous driving Rs.5,000 Racing or speeding on public roads Rs.5,000 Not making way for emergency vehicles Rs.10,000 Not driving in the proper lane. Court Challan Driving in the centre and not keeping to left side of the road. Rs.100 Driving against One Way. Rs.100 Reversing without due caution and care. Rs.100 Taking “U” turn during forbidden hours. Rs.100 Not taking adequate care while taking a “Turn”. Rs.100 Failing to slow down at intersection/ junction. Rs.100 Not carrying on left of traffic island. Rs.100 Carrying people on Footboard. Rs.100 Carrying people to the point that it causes inconvenience (be it for rear-view visibility or gear shifting) to the driver. Rs.100 Tripling on bikes/ two wheelers. Rs.100 Driving on Footpath. Rs.100 Stopping at pedestrian from crossing or crossing a Stop Line (Zebra Cross). Rs.100 * Changes made in September – 2019 Offences Related to Road Marking Offences Penalty Violating the Yellow Line. Rs.100 Violating the Stop Line. Rs.100 Violating the Mandatory Signs. Rs.100   Offences Related to Vehicle Number Plates Offences Penalty Use of Offensive Number Plate for vehicle used in driving. Rs.100 Displaying ‘Applied For’. Rs. 4,500   Offences Related to Vehicle Lights Offences Penalty Improper use of headlights and/ or taillight for your vehicle used in driving. Rs.100 Using a High Beam when it is not needed. Rs.100 Offences Related to Horn Offences Penalty/Sentence Driving without a Horn. Rs.100 Improper usage of horn when you drive. Rs.100   Offences Related to Traffic Police Offences Penalty/Sentence Disobeying a Traffic Police Officer in uniform. Rs.100 Driving against Police Signal. Rs.100 Not complying with the manual Traffic Signal. Rs.100   Offences Related to Traffic Signal Offences Penalty/Sentence Not complying with the Traffic signal / Sign Board. Rs.100 Failing to give the appropriate Signal. Rs.100 Signal Jumping. Rs.100 Offences Related to Speed & Overtaking Offences Penalty/Sentence Driving above the permitted Speed Limits by the Traffic Police. Up to Rs.1,000 Abetment for Going over the Speed Limit. Rs.300 Overtaking hazardously. Rs.100 Failing to deliberate way to sanction Overtaking. Rs.100 Overtaking from the Wrong Side. Rs.100   Other Offences Related to Driving Offences Penalty/Sentence Purposely disobeying Lawful Directions. Rs.500 Driving

Non-convertible debentures fall under the debt category. They cannot be converted into equity or stocks. NCDs have a fixed maturity date and the interest can be paid along with the principal amount either monthly, quarterly, or annually depending on the fixed tenure specified. They benefit investors with their supreme returns, liquidity, low risk and tax benefits when compared to that of convertible debentures. Example of NCDs: You can invest when the company announces NCDs or purchase after it trades on the secondary market. You must check the company’s credit rating, issuer credibility and the coupon rate of the NCD. It would help if you purchase NCDs of a higher rating such as AAA+ or AA+.  Funding is essential for a company to not only invest and expand but also to run its day-to-day operations. When a firm needs to raise money, it may consider debt, stock, venture capital, and other methods. Banks, non-banking financial companies, debt funds, and companies are increasingly relying on private placements of listed and non-listed Non-Convertible Debentures (NCDs) for fundraising from players such as pension funds, insurance agencies, foreign portfolio investors, and mutual funds to pay down debt and on-lend. What do you mean by Non-Convertible Debentures? Debentures are long-term financial assets that acknowledge the issuer’s debt commitment. Some debentures include the option of being converted into shares at the owner’s choice after a set period of time. Non-convertible debentures are debentures that cannot be converted into shares or equity (or NCDs). A Non-Convertible Debenture (NCD) is a debt instrument issued by a corporation, including NBFCs, with an original or initial maturity of less than one year and issued through a private placement. These debentures are used by firms for rising long-term funding through a public offering. In order to compensate for the non-convertibility, lenders are typically offered a higher rate of return than with convertible debentures. Features of NCDs Taxation NCDs carry tax implications depending on the tax bracket the investor falls under. If NCDs are sold within a year, STCG will be applicable as per the income tax slab rate. If the NCDs are sold after a year or before the maturity date, LTCG will be applicable at 20% with indexation. The interest income from NCDs is taxed in a similar manner as fixed income securities under ‘income from other sources. Let’s calculate the post-tax return from the NCD: Interest from NCD Post-tax return @10.4% Post-tax return @20.8% Post-tax return @ 31.2% 9% 8.064 7.128 6.192 9.5% 8.512 7.524 6.536 10% 8.96 7.92 6.88 Credit rating: Companies are ranked by credit rating agencies such as CRISIL, CARE etc. To determine the potential of a company, its rating plays a major role. A higher credit rating means that the company has the ability to fulfil credit obligations. However, a low credit rating means that the company has high credit risks involved. If any issuing company fails to make payments then the rating agencies give them a lesser ranking.  Interest: NCDs may offer a high-interest rate ranging from 7% to 9% if held till maturity. Interest payouts are either monthly, quarterly, half-yearly or annually. NCDs do offer a cumulative payout option, as well. Moreover, unsecured NCDs can offer a higher interest rate. Characteristics of Non- Convertible Debentures Limited credit risk: An NCD loses value as the system’s interest rate rises and gets value when the rate falls. When an NCD is held until maturity, however, the stated return is likely to be realised, and the risk of interest rate volatility is reduced or decreased. Higher rate of return: Historically, NCDs have delivered excellent interest rates as compared to other fixed-income investments. Flexible Term: Ranging from two to twenty years, this allows for greater maturity options.  NCDs are rated by credit rating companies that are certified and professional.  NCDs are normally listed securities, which mean they can be sold in the secondary market before expiration. No Taxation: According to section 193 of The Income Tax Act, there is no tax deduction at source (TDS) on NCDs provided in DEMAT method and listed on a stock market. Moreover, because NCDs are listed securities, they can profit from stock market changes and experience capital appreciation.  Interest Payment Alternatives: NCDs offer a variety of interest payment options, including monthly, quarterly, half-yearly, and annual interest payments. Eligibility for Investing in Non-Conventional Debentures (NCDs) Institutions:  NCDs can be purchased by Public Financial Institutions, Statutory Corporations, Commercial Banks, Cooperative Banks, and Regional Rural Banks. NCD-authorized Provident Funds, Pension Funds, Superannuation Funds, and Gratuity Funds. SEBI-registered Venture Capital and/or Alternative Investment Funds. IRDA-registered insurance companies National Investment Funds (NIFs). Non- Institutional:  Companies, bodies corporate, and organisations that are registered under Indian law and are permitted to invest in NCDs. NCDs can be invested in by public/private charitable/religious trusts. Groups that are authorised to invest in NCDs are scientific and/or industrial research organisations. In the name of the partners, partnership firms are formed. The LLP Act of 2008 allows for the formation and registration of limited liability partnerships (No.6 of 2009). Individuals Individuals of Indian descent who live in the area. Hindu Undivided Families What is the Procedure for Issuing NCDs in NBFCs? According to conventional market practise, the company’s financial position must be communicated to potential investors. The investors must obtain a certified copy of the investors stating that the company has met all of the RBI’s qualifying conditions. The corporation must follow all of the laws of the Companies Act of 2013, as well as any RBI restrictions:  The debenture certificate must be granted within the time frame established by the Companies Act of 2013. The company determines whether NCDs are issued at face value with a coupon rate or as zero-coupon instruments with a discount rate to face value. Major Provisions under Companies Act, 2013 on NCDs The provisions relating to the issuing of NCDs are covered under Section 71 of the Companies Act, 2013 (“Act”) and Rule 18 of the Companies (Share Capital & Debenture) Rules, 2014. Specific provisions to keep in mind when issuing Debentures are as follows: The company’s Board of Directors has the authority to issue NCDs under section 179(3) of the

Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note. It was introduced in India in 1990 with a view to enabling highly rated corporate borrowers/ to diversify their sources of short-term borrowings and to provide an additional instrument to investors. Subsequently, primary dealers and satellite dealers were also permitted to issue CP to enable them to meet their short-term funding requirements for their operations. What is Commercial Paper? Commercial Paper (CP) is a short-term, unsecured debt instrument issued by corporations, financial institutions, or governments to raise funds for operational needs. It includes inventories, short-term debts, account payables, financing payroll, etc. CP typically matures within 1 to 270 days and is characterized by low risk and high liquidity. It is sold at a discount to its face value and offers investors a competitive yield.  Key Points About Commercial Paper Issuer: Typically, large and financially stable corporations, financial institutions, and government entities issue CP to meet their short-term funding needs. Maturity: CP has a short maturity period, usually ranging from a few days to a maximum of 270 days. This short-term nature makes it convenient for companies to obtain funds quickly. Unsecured: It is usually issued without any collateral backing. Investors rely on the creditworthiness of the issuer when purchasing CP. Interest Rates: The interest rate on CP is generally lower than other forms of short-term borrowing, like bank loans. The rate is determined based on prevailing market conditions, the issuer’s credit rating, and the maturity period’s length. Liquidity: It can be easily sold in the secondary market before maturity. It provides investors with liquidity. Investors: CP is often purchased by institutional investors, such as money market funds, corporations with excess cash, and other entities looking for a short-term investment vehicle. Regulation:In India, The Reserve Bank of India regulates the issuance and trading of CP through the Reserve Bank Commercial Paper Directions, 2017, along with operational guidelines from the Fixed Income Money Market and Derivatives Association of India. In the United States, commercial paper is regulated by the Securities and Exchange Commission (SEC) if offered to the general public. However, many issuers are exempt from SEC registration requirements. Risk: Commercial paper is relatively safe due to the creditworthiness of reputable issuers. Still, there is a risk of default if the issuer faces financial difficulties. Denominations: It is typically issued in large denominations. It makes it less accessible to individual investors Advantages of Commercial Paper Prior to the introduction of commercial paper in the Indian money market i.e. before 1990, corporate companies used to depend on the crude and traditional method of borrowing working capital from the commercial banks by pledging the inventory of raw materials as collateral security. This is time-consuming for the borrowing companies in availing the short-term funds for day-to-day production activities. Commercial paper has emerged as an effective instrument for all corporate companies to avail the short-term funds from the money market within the shortest possible time limit by avoiding the hassles of direct negotiation with the commercial banks for availing the short-term loans. Types of Commercial Paper Promissory Notes Promissory notes are financial transactions promises from one party (the issuer) to another (the payee) to repay a specific amount of money by a certain date. They are legally binding instruments to formalize loans or debts between individuals, businesses, or financial institutions. Drafts Drafts, also known as bills of exchange, are orders from one party (the drawer) to another (the drawee) to pay a specified amount to a third party (the payee). They serve as a form of payment or transfer of funds, often used in international trade transactions. Checks Checks are written orders from a bank account holder to their bank, instructing the bank to pay a certain amount of money to the bearer or a specified recipient. They are a common form of payment, allowing individuals and businesses to make secure and convenient transactions. Certificates of Deposit (CDs) Certificates of Deposit are time deposits banks and financial institutions offer. Investors deposit a fixed amount of money for a specified period, earning a predetermined interest rate. CDs are considered low-risk investments due to their fixed returns and the assurance of principal repayment upon maturity. Eligibility for Issuing Commercial Paper Companies, Primary Dealers (PDs) and Finance Institution (FIs) are eligible to issue commercial paper. Commercial Paper (CPs) can be issued based on the guidelines set by RBI. The following conditions have to be fulfilled by corporates to receive privileges for issuing commercial paper: The tangible net worth of the company should not be less than 4 Crores, as per the latest audited Balance-Sheet. The companies should have the ‘sanctioned working capital limit’ by the banks or any Financial Institutions (FIs). The Financial Institutions or Banks should classify the ‘Borrowal Account’ as a Standard asset. Issuing Commercial Paper Commercial paper can be issued into the market by the following members: Leasing and Finance Companies Manufacturing Companies Financial Institutions FAQs Who uses commercial paper? Commercial paper is commonly used by well-established and creditworthy companies. These can include corporations, banks, and financial institutions looking for short-term funds to cover their operational needs. Is commercial paper safe to invest in? Generally, commercial paper issued by reputable companies is considered safe due to their creditworthiness. However, like any investment, there’s a level of risk involved. Investors should assess the credit rating of the issuer before investing.