Full transcript
0:02Hello , kids ! A very , very good morning ,
0:04good evening , or good afternoon .
0:06Welcome to all of you , greetings to you
0:08all in today's lecture . Sir , what are
0:10we going to study today ? My child ,
0:13today our campaign , our mission is to
0:16finish one more chapter , and that
0:18chapter , yes , it is a bit easy , simple ,
0:21but it is still a part of the syllabus .
0:26We have to finish this chapter . Sir ,
0:29which , which chapter is it , sir ? Child ,
0:31our chapter is Government Institutions ,
0:35it’s a very trivial chapter , brother .
0:39Jokes aside , on a serious note , this is
0:41a tiny little chapter , child . It is
0:44very easy . Come , let me give you a
0:46slight overview . Then we will start
0:48studying it . Right , sir . Let's go ,
0:51child . Sir , if we need these notes ,
0:53where will we find them ? Child , you
0:55will find the notes by going to our
0:58Abhiyaan October 2026 batch . Child ,
1:02listen , we have some important
1:05institutions in our country that are
1:09supporting our country in every aspect ,
1:13whether it is economic growth or social
1:17growth . So , we need to know about them ,
1:21and it is necessary to know about them
1:23as well . Like , child , we must have
1:26heard about NITI Aayog . At some point ,
1:29we must have heard about the Ministry
1:32of Corporate Affairs , we must have
1:34heard about the RBI , we must have heard
1:37about SEBI . These are all the
1:40institutes that we will get to study .
1:43Perhaps you might have heard about IBBI
1:45, Insolvency and Bankruptcy Code , by
1:47chance in company law . Then the company
1:51law's NCLT ( National Company Law
1:52Tribunal ) , this is an ' L ' , child , then
1:55the National Company Law Appellate
1:57Tribunal , these are some of the
1:59institutes and bodies given . We have to
2:01gain knowledge about them , and if I
2:03tell the truth , which one is given in
2:05the most detail ? Sir , our first one is
2:08given in the most detail , which is
2:10named NITI Aayog . Right , NITI is in a
2:13lot of detail , the others are not in
2:15too much detail . So , let's start
2:17studying one by one . Sir , first tell us
2:20the full name of NITI Aayog ? Child ,
2:22NITI , Aayog , the full name is National
2:26Institution . National Institution for
2:29Transforming India . It is the
2:33Government of India's think tank that
2:35wants to transform India , wants to
2:37change it . It wants to lead India on a
2:40better path and wants to drive economic
2:42growth . So , this is the reason why our
2:44organization was created . What is its
2:45name ? Sir , its name is NITI , right ?
2:47National Institution for Transforming
2:49India . NITI Aayog is developing itself
2:52as a state-of-the-art resource center .
2:54It is a resource center . Many
2:56professional people are seated within
2:58it . Whose job is to do and oversee
3:00planning . With the necessary resources ,
3:02knowledge , and skills . They have the
3:05knowledge , the skills , everything . They
3:07play a great role in driving the
3:09country's growth . Okay ? It further says
3:13, that will enable it to act with speed
3:15. NITI Aayog works with speed . It
3:18promotes research . It encourages
3:20innovation . It helps governments in
3:23drafting policies . And deal with
3:24contingent issues . In short , it is
3:26helping the government a lot . Brother ,
3:28there are fights and disputes happening
3:30. It is helping to resolve all of them .
3:33Any contingent issue , like a flood or
3:35COVID - 19 . NITI Aayog has a significant
3:37contribution in all of them . Okay .
3:39Acting as a think tank , sir . NITI
3:42Aayog's entire gamut , meaning its scope
3:44, is divided into four parts . It helps
3:47in formulating policies and programs .
3:50It is cooperative federalism —
3:52cooperative federalism means , son , the
3:54involvement of states ; it wants to
3:57drive the country's growth by working
3:59together with state governments . So ,
4:01this is its main job . Then monitoring
4:04and evaluation — it monitors and
4:05evaluates all the various policies and
4:08schemes of the government . Then , lastly
4:10, it is a think tank . It is the
4:12Government of India's think tank . It is
4:14an innovation hub and a knowledge hub .
4:16All the professional people sitting
4:18there work day and night to take
4:19economic growth to the next level . Okay
4:22? So , NITI Aayog is a national
4:23institution , sir . It is working behind
4:25economic growth . It is working behind
4:27social growth . It has very good and
4:29noble intentions . Sir . To evolve . Now ,
4:33these are its objectives . Son , make
4:35sure to memorize at least five or six .
4:37There are quite a lot . Just memorize a
4:38few keywords and you will be able to
4:40frame your answer easily . That's a
4:41promise . So , let's begin . We need to
4:43focus on a few keywords . It says . It
4:49says to evolve a shared vision of
4:51national development priorities . Son ,
4:54it creates a vision . To foster
4:56cooperative federalism for driving
4:58economic growth according to the
4:59country's national priorities . It wants
5:02to promote cooperative federalism . If
5:04states are strong , then the nation will
5:06also be strong . It is working on this
5:08theme . Then , to develop mechanisms to
5:11formulate credible plans . It is
5:14creating plans to drive economic growth
5:16at the village level . Nice going , then ,
5:19to ensure focus on the areas that are
5:21specifically referred to it . That is ,
5:24the interest of national security . Son ,
5:27it is also making a lot of plans and
5:29policies for national security . It is
5:31thinking about the villages . It is
5:33thinking about the state governments .
5:34It is thinking according to the
5:36country's priorities . It is thinking
5:37for national security . Good to pay
5:39special attention to the sections of
5:42our society . Giving important time to
5:45the sections of society that are at
5:48risk of not benefiting adequately from
5:50economic progress . Brother , look , while
5:54the country's economy is growing , the
5:56poor sectors aren't getting much
5:58advantage ; so , it has a focus on poor
6:00sectors and people , to design strategic
6:01long-term policies . It helps the
6:04government in creating long-term
6:06policies and programs . In short ,
6:08brother , there are many basics still ,
6:09but these objectives are very easy to
6:11memorize , sir . Then , to provide advice
6:14and encourage partnerships between key
6:17stakeholders . It facilitates
6:19partnerships with national and
6:21international bodies , and think tanks ,
6:22to create a knowledge , innovation , and
6:24entrepreneurial support system . It is
6:27also working hard to support our
6:29country's entrepreneurs . Then , to offer
6:32a platform for the resolution of
6:34inter-sectoral and inter-departmental
6:36issues . If there are issues arising
6:39between departments or sectors . Then
6:41our NITI Aayog plays a crucial role in
6:44resolving those issues . To maintain a
6:47state-of-the-art resource center to be
6:49a repository on good governance . It
6:51wants to create good governance and
6:53sustainable development in the country .
6:55Then to actively monitor and evaluate
6:58the implementation of programs . It
7:01monitors and evaluates whatever
7:03programs and policies the government
7:05has created . Country's priorities ,
7:08village development , supporting
7:10entrepreneurship , and resolving
7:11inter-sectoral disputes . These are its
7:14very basic level functions , son . Basic ,
7:16meaning all of them are quite major .
7:18But they are very easy to memorize .
7:21Tell me , is it done ? Yes , sir . Look
7:24further , to focus on technology
7:26upgrades . So that technology is better
7:28in the country . Capacity building
7:29should happen . People in the country
7:31should learn to do good work . Training
7:32should be provided to people to
7:33undertake other activities as may be
7:35necessary . And any other work that it
7:37deems appropriate . It can do that for
7:39the country . So , son , it is doing a lot
7:42for the country . Isn't it ? It is a
7:44national institute . It has a very
7:46significant contribution to the country
7:48. Alright , now even though this
7:51mentions the MCA . But first , let me
7:55tell you one more thing . NITI Aayog has
7:58many verticals , son . There are many
8:01verticals . NITI Aayog has many
8:04verticals . Vertical means a department .
8:08When you look at the book , you will see
8:10it . One of which is given as SDG .
8:17Sustainable Development Goal , done .
8:26Similarly , there is a separate vertical
8:29for the power sector . There is a
8:32separate one for tourism . There is a
8:35separate one for industry . There is a
8:37separate one for Women and Child
8:39Development . I mean , like this , there
8:42are many , many , son , many extra
8:45verticals , out of which our syllabus
8:48provides a little bit about the SDG
8:50vertical . Right ? So , one is the SDG
8:54vertical and another is Project SATHI .
8:58You must remember , son , whoever has
9:00read the book , under Project SATHI ,
9:03some programs related to education were
9:05run . Particularly in three states :
9:08Jharkhand , Odisha , and Madhya Pradesh ,
9:10where significant educational reforms
9:12were seen . When COVID hit , classes were
9:15conducted on the Doordarshan TV channel
9:17so that children's education wouldn't
9:19stop . So , all this work was done . NITI
9:21Aayog was getting all this done . So ,
9:23let me take you to the book for a
9:26moment . Son , I want to show you this
9:29topic from the book . Uh , NITI Aayog's
9:32vertical , right ? Give me a minute .
9:35Where is it , brother ? Here it is . Here
9:38it is , son , this SDG vertical . The work
9:41of SDG , son , the S and D in SDG is
9:43Sustainable Development . Ensuring
9:45sustainable development is the main job
9:47. The growth of the country , keeping
9:50future generations in mind . The SDG
9:53vertical is collaborating with Union
9:55Ministries , states , and Union
9:56Territories to achieve sustainable
9:58development goals . The vertical works
10:04closely with key stakeholders ,
10:06including the government , society ,
10:08private sector , other think tanks ,
10:11research institutions , and all other
10:13organizations , aiming to achieve the
10:16country's dream of sustainable
10:18development . What are its core
10:22functions ? Sir , the SDG vertical does
10:25monitoring . Progress monitoring ,
10:28whatever framework the SDG vertical
10:30creates . Framework means , son , rules ,
10:32in a way ; whatever standards or
10:34regulations it sets , are the people of
10:37our country following those regulations
10:39or not ? Are our companies following
10:41them or not ? It monitors this . The SDG
10:45vertical is monitoring the SDG
10:47framework in our country . Second , SDG
10:50localization ; the states and UTs play a
10:53pivotal role in the achievement of SDG
10:56targets . The SDG vertical checks
10:59whether the SDG targets and the targets
11:01of this vertical are being followed or
11:04not . The vertical works closely with
11:06the State UT Governments and support
11:08them in a range of initiatives for SDG
11:11localization . So that SDGs are
11:12implemented in the country in the best
11:14possible way . So that SDGs are used as
11:16much as possible . So that sustainable
11:17development happens as much as possible
11:19. For this , the role of state
11:20governments will increase . The SDG
11:22vertical is increasing this role . Okay ?
11:26Then moving on , the SDG wants private
11:29sector engagement . The SDG vertical
11:31wants the role of the private sector to
11:33be maximized , not just the government
11:35sector involved . It requires commitment
11:37and solid action by the private sector
11:39also . Then , the money required for SDGs
11:42, how much it will cost , where the
11:44money will come from , all these are
11:46performed by the vertical . They created
11:49a department and named it the SDG
11:51vertical . It is monitoring , motivating ,
11:54and promoting state governments . It is
11:56increasing the role of the public
11:57sector . How much it will cost , how much
11:59money is needed , it is handling all of
12:01this . So that there is sustainable
12:03development in the country . Nice . Then
12:06Multidimensional Poverty Measurement
12:09and Reduction . SDG is continuously
12:11taking various steps to reduce poverty
12:14in the country . So , reducing poverty is
12:17one of the functions of the SDG
12:19vertical . It is monitoring , evaluating ,
12:22and increasing partnerships . It is
12:24increasing the role of state
12:24governments along with the private
12:25sector . All of this is written inside
12:27it . Then , as I told you , there are many
12:30verticals . Look , it says the list of
12:32verticals is Admin , Agriculture , Data ,
12:34E-mobility , Energy , Education ,
12:36Economics , Government , Governing
12:38Council , Health , Industry , Infra ,
12:40Managing Urbanization , MSME , they have
12:42created one for everything . Women Child
12:45Development , Water , Tourism , State
12:47Finance , they have created a vertical
12:49for everything . Out of which , it is
12:51telling us about the SDG vertical . Tell
12:55me , did you understand ? I hope you
12:59understood , son . Now , let's talk about
13:04Project SATHI . It was completed in
13:07March 2020 , son . This is about the time
13:10of COVID . Basically , studies . Look ,
13:12what is the main word in Project SATHI ,
13:13sir ? The main thing is studies ,
13:15Sustainable Action for Transforming
13:16Human Capital , and within human capital
13:18, specifically education . Its main role
13:20was in three states : Jharkhand , Odisha ,
13:22and Madhya Pradesh . Academics improved
13:25significantly in all three states ,
13:27children and teachers were trained , and
13:28the education level improved ; that is
13:30all it says . So , you should have an
13:33overall idea . Then , when COVID came ,
13:35all classes started running online from
13:38home ; for instance , as I show you , it
13:40says ' Our Home , Our School ' , classes
13:42from home , then ' Our Doordarshan , Our
13:44School ' , classes started airing on the
13:46government TV channel , Doordarshan . So ,
13:49all these tasks were being carried out
13:50under Project Saathi . So that’s it ,
13:52son , it is a comparatively very easy
13:53topic . I would say that yes , it can be
13:56done easily . Say , is it done ? Yes , sir .
14:00This topic of ours , NITI Aayog , has the
14:02highest chances of appearing . We should
14:06know its overall objectives , and we
14:08should know the context in which it
14:09works ; the answer can be written easily
14:11. Say done , say it , say done . Yes , sir .
14:20Now , son , these are very simple points .
14:22MCA , Ministry of Corporate Affairs ; you
14:25are going to deal with this institution
14:27, you will work with this institution
14:30for many years , all ROC filings and
14:32everything else will happen here . So it
14:35says MCA , Ministry of Corporate Affairs
14:38; I will write it down , though you
14:41should already know it . The Ministry of
14:46Corporate Affairs says the ministry is
14:49primarily concerned with the
14:52administration of the Companies Act
14:552013 , Companies Act 1956 , LLP Act 2008 ,
14:58and other allied laws , rules , and
15:00regulations . Apart from this , it
15:05regulates these three bodies : Chartered
15:07Accountants , Company Secretaries , and
15:09Cost Accountants . Apart from this , it
15:12regulates other things as well , which I
15:15will show you ahead . The Government of
15:18India has some affiliate offices of the
15:20MCA . There are many . Out of which ,
15:23three are given in our syllabus . One is
15:26SFIO , the second is CCI , Competition
15:29Commission of India , and the third is
15:32IICA . Consider these three as sub-parts
15:35of the MCA . They are related to it .
15:37They are related to the MCA . This is
15:39written inside it . So , read what SFIO
15:42was . It is under the MCA , son .
15:43Affiliate means related offices . The
15:46government , against the backdrop of
15:48major failures , saw continuous frauds
15:50in banks . There were frauds happening
15:51in the stock market . Fake companies
15:53were being formed . Fraudulent companies
15:54were being created . Sham , forged
15:56companies were being formed . So , to
15:58keep an eye on those forged companies
16:00and to investigate them , SFIO was
16:02formed on October 1 , 2003 . That is all
16:04that is written . Fake vanishing
16:07companies , plantation companies , bank
16:09failures , and stock market frauds — the
16:11SFIO exists to ensure these are
16:13investigated thoroughly . Then , perhaps
16:17you studied the Competition Commission
16:20of India ( CCI ) in Class 12th ; there is
16:23also a Competition Act . Right ? To
16:26manage and administer the Competition
16:29Act , the CCI was established . The
16:32Competition Commission of India was
16:34established under the Competition Act
16:362002 for the administration ,
16:37implementation , and enforcement of the
16:39Act . This body was created to ensure
16:41this law runs effectively . In March
16:442009 , its objectives were set to
16:47prevent practices that have an adverse
16:50effect on competition . To promote
16:54competition . To protect the interests
16:58of consumers and ensure freedom of
17:01trade . There should be no obstacles in
17:03trading . Companies should be able to
17:06trade with each other easily . This is
17:09the purpose of this organization . What
17:11is its name ? CCI is not an organization
17:14, child . It is more of a body . Okay ?
17:17Moving on , sir , the next is IICA . IICA
17:21works like a college , child . It is an
17:23institute that provides training . For
17:25those who have cracked the UPSC . It
17:28teaches new recruits about corporate
17:30governance , audits , accounts , and
17:31compliance management . That is exactly
17:34what is written . It says IICA is
17:36working on capacity building under the
17:38Indian Ministry of Corporate Affairs .
17:42It provides training to people in
17:44various subject matters like corporate
17:46regulation , governance , competition law
17:49, accounting , auditing , compliance
17:51management , and corporate governance .
17:55The job of this body is to provide
17:56training . Then , IICA has a wing . A part
18:00called the ICLS Academy . Whoever passes
18:05the UPSC and wants to join the MCA ,
18:08this ICLS part of IICA conducts an
18:11induction program for them . It provides
18:15them with knowledge of the laws . It
18:17provides them with training . So , this
18:19is the job of the ICLS Academy . Besides
18:22this , the institute is designed to
18:24ensure good work in the future . To
18:27increase interaction and partnerships
18:29between governments , companies ,
18:31investors , societies , and professionals
18:33. In short , this institute is focusing
18:36on training and partnerships . Tell me ,
18:41is it clear ? Sir , can this come in the
18:45exam ? Yes child , it can 100 % come . SEBI
18:52can come , NITI Aayog can come , and MCA
18:55can also come ; all three can come . All
18:59of them can be asked . NCLT , IBBI , the
19:01chances for these are low . Everything
19:04else can come . So the next one , sir , is
19:08SEBI ; this chapter is very easy . You
19:12can easily prepare and go for the exam .
19:15Getting full marks is not a big deal
19:17for this type of chapter . SEBI . What is
19:21its full name ? Sir , everyone must know
19:25about Securities , man . It is even
19:26written here , Securities and Exchange
19:28Board of India regulates the stock
19:30market , right ? It regulates the capital
19:32market . Entrusted with the
19:35responsibility to regulate the Indian
19:37capital market , it monitors , regulates
19:39securities , and protects the interests
19:41of investors . It came into existence in
19:44April 1992 , on the 12th of April . The
19:46headquarters is in Mumbai . SEBI's main
19:49objective is to run the Indian capital
19:51market systematically and provide a
19:53transparent environment to investors so
19:55that they don't feel afraid . Thinking
19:58about them and protecting the investors
20:00is their main job . Okay ? Moving on , it
20:05mentions the powers of SEBI . Child ,
20:06there are two topics . One is functions
20:09and one is powers . Both are important .
20:12First , we are going to look at the
20:14powers . There are three powers .
20:16Quasi-judicial , quasi-legislative , and
20:19quasi-executive . In quasi-judicial ,
20:22remember , child , you have studied this ;
20:25SEBI conducts hearings , passes rulings ,
20:28and pronounces orders . Meaning , it
20:31works like a court , it works like a
20:33court . If someone is doing something
20:36unethical or fraudulent , it takes them
20:38to task , it penalizes them , child .
20:41Taking action is their job . Taking
20:43action means taking measures against
20:45them , passing orders against them , this
20:47is their job . Under quasi-legislative ,
20:51just like the governments make laws .
20:53SEBI also has the power . It makes rules
20:55and regulations for the securities
20:57market . In which one example of a
20:59regulation is LODR , Listing Obligations
21:01and Disclosure Requirements . This is
21:03their job . This is one of their
21:05important jobs . Okay ? Apart from this ,
21:07quasi-executive , if someone has
21:09committed a fraud or if there is a
21:11suspicion on someone , then getting
21:12their books of accounts examined and
21:14checked . If someone has broken any
21:16regulation , then penalizing them . These
21:18are all its jobs . So , under judicial ,
21:21it conducts hearings . Under legislative
21:24, it makes rules and regulations . And
21:27under executive , it carries out your
21:29inspections and your investigations . It
21:32also does the work of getting books and
21:34such checked . Tell me , brother , will
21:38you be able to do it if it comes in the
21:39exam ? Speak up , speak up , speak up . Now
21:44, child , it also has functions . I will
21:46tell you those . There are three
21:51functions . Which ones , sir ? It's PRD .
21:57How does it function ? I'll explain .
22:00I'll explain , I'll explain . P stands
22:02for , speak , speak , speak . Have you read
22:04it ? P means , sir , protective . Speak . R
22:08means Sir , regulative . And D means , sir
22:14, developmental . What's inside this ?
22:18Come , I'll show you . Wait a minute .
22:42Okay , P means protective , R means
22:44regulatory or you can say regulative ,
22:46and D means developmental , progress .
22:50Now , I need to show you what work
22:52happens in all three . So , come on kids ,
22:56within protective , you might have heard
23:00of insider trading , which company
23:04employees or directors might do , it
23:07prevents that . It prevents it . Perhaps
23:13you've heard , kids , of price rigging .
23:16When companies or people intentionally
23:18cause price fluctuations , that's called
23:20price rigging . It stops this too . "
23:25Double your money in 21 days , " such
23:27malpractices . You must have heard that
23:30" double your money in 21 days " thing ,
23:31right ? Those fraudulent activities . It
23:33works to prevent these . This is its job
23:35. It makes investors aware . It educates
23:40them . All this is part of the
23:42protective function , kids . Protective ,
23:44it is protecting . It is trying to
23:47protect . Who is it trying to protect ?
23:51Who is it protecting ? Who is protecting
23:53whom ? Sir , SEBI is protecting us . SEBI
23:58is protecting us . Come here , brother .
24:13SEBI is protecting us . It is working in
24:16the interest of investors . To protect
24:19investors , especially , it protects
24:22everyone . But investors the most ,
24:25because , well , the poor person is
24:26earning money through hard work , right ?
24:28Regulative , sir , it makes rules . It
24:32makes regulations . For whom ? Sir , for
24:35all the intermediaries . Like , like , for
24:38intermediaries , like brokers , what are
24:42called DPs , kid , depository
24:45participants , for underwriters , and ,
24:49and , and for merchant bankers , for
24:52stock market exchanges , for stock
24:56exchanges , right ? Like how the NSE , BSE
24:59will work , what they will do ; it
25:01creates rules and regulations and a
25:02code of conduct for all of them . Code
25:04of conduct , code of conduct means , kid ,
25:07regulations . And then finally ,
25:09developmental , sir , it provides
25:11training . It provides training to whom ?
25:14It teaches all the intermediaries how
25:16to work . Continuously using the
25:21internet to see how trading can be
25:23increased , it tries to get them to work
25:25, tries to get them to use technology ,
25:27so that there is development , progress ,
25:29growth , so the stock market grows , and
25:31there is growth in stock exchanges . So
25:35child , these points that I just taught
25:36you , what are they ? What are these
25:39points ? Sir , these are the functions .
25:42These are functions . These are
25:43functions , work . SEBI does this work .
25:46The powers were different . There were
25:49three powers . These are also three .
25:51Quasi-judicial ? Quasi-legislative ?
25:54Quasi-executive ? In judicial , it acts
25:57like a court . In legislative , like a
25:59law-maker , and in executive , it gets
26:01work done like investigations . I would
26:04like you to memorize these words from
26:06here . You will work easily . You can
26:08write it nicely and comfortably . Just
26:10write by explaining a little . It works
26:12for investors , issuers , and companies ,
26:14for everyone . It is doing the job of
26:15protecting everyone . This one is a good
26:18organization . Come on , next , he says ,
26:21sir , how many points are done ? Child ,
26:26only three points are done , but to tell
26:27you the truth , these three were
26:29powerful , fantastic , historic , and
26:30revolutionary . NITI Aayog is done ; it
26:34can come . MCA is very important and
26:37done . SEBI is ultra-important and done .
26:41All three are called very important and
26:43are crucial for our exam . Shall we
26:47start ? If everything is clear , then we
26:50can move forward . Sir , after this , we
26:53don't have to go into anything else .
26:56Child , in the year 2016 , a law came .
27:01When I was in CA Final . Yes , Insolvency
27:05and Bankruptcy Code . 2016 , what was
27:11this , sir ? Sir , this was for insolvents
27:15and people who would take money from
27:17banks or creditors and not pay it back ;
27:20in the laws before 2016 , the poor bank
27:23people used to take years to recover
27:26their money . There were a lot of
27:30problems , a lot of hassles , a lot of
27:32troubles , so an organization was needed
27:35that could quickly get the money out ,
27:37recover it , or liquidate it so that
27:39people could get the money that is
27:41stuck in the company , so that people
27:43could receive their money in a timely
27:46manner . IBC came for this . Now ,
27:50whenever any law comes , an organization
27:53is formed to handle it , so that
27:55organization was formed as IBBI (
27:57Insolvency and Bankruptcy Board of
27:59India ) . Under this , insolvency
28:02professionals work ; we call them IPs ,
28:06child . Insolvency Professional Agencies
28:10work . When you grow up a bit , you will
28:13study all this in detail ; all this is
28:15in your syllabus too . So it says , IBBI
28:17was established on 1st October '16 when
28:20this law came , under the Insolvency and
28:23Bankruptcy Code '16 ; it is a key pillar
28:25. This is a key pillar of our economic
28:28ecosystem , which implements this code (
28:30code means , son , it is a type of law ) .
28:33It applies to corporate persons ,
28:35partnerships , and everyone else in a
28:37time-bound manner . Previously , there
28:39was no time-bound process ; nothing had
28:40a fixed timeline . It used to take years
28:42— 5 years , 10 years . Now , recovery
28:44will happen in a time-bound manner . Who
28:46will ensure it ? Insolvency
28:47professionals will ensure it . IBBI will
28:49ensure it , sir . So , this is a good body
28:52that you will learn about . No doubt ,
28:55when Company Law and IBC Law come into
28:57your syllabus , you will do it . Okay .
28:59Next body , next point , sir — what
29:01should I tell you about NCLT , son ? NCLT
29:03means National Company Law Tribunal . Oh
29:07, it is written : National Company Law
29:10Tribunal , Section 408 of the Companies
29:12Act 2013 , states that its benches are
29:15in New Delhi ; it was formed on June 1 ,
29:182016 , and it has offices in 10
29:20different locations . A retired Chief
29:23Justice serves as its President and
29:25head . What does it do , sir ? Whenever a
29:28company's case gets stuck , or if
29:30someone needs to file an appeal or do
29:31something related to a company , where
29:33do they come , sir ? For all those things
29:36, we come here . One can file an appeal
29:38in NCLT . It handles appeals . Then there
29:41is a higher authority above it , the
29:44Appellate Tribunal . Its section is 410 .
29:48The previous one was 408 . The previous
29:50one’s section was 408 . Of the
29:52Companies Act , son . Its section is 410 ,
29:54it is written somewhere . Here it is .
29:56Any appeal against NCLT . Any appeal
30:00against IBBI . Any case stuck in the
30:02Competition Commission . It handles all
30:04of them . I mean , I want to say its
30:07scope is larger . Its scope is a bit
30:09wider . It handles more cases than the
30:12NCLT . It is a higher authority above
30:14that . Tell me , is it clear ? Yes , sir .
30:17Then there is one more , son — RBI . I am
30:21telling you the truth . Is this chapter
30:23even a chapter , man ? RBI is the central
30:26bank of India . It was formed on April 1
30:29, 1935 . Reserve Bank of India Act . It
30:31has a law as well . Its central office
30:33was earlier in Kolkata . Then it was
30:35shifted to Mumbai . Yes . What questions
30:37can be formed for the exam from this ,
30:39son ? Functions , and the functions are
30:42such that , what can I say . Sir , it
30:44makes the monetary policy . Hey , who
30:47doesn't know it creates the monetary
30:50policy framework ? Repo rate , reverse
30:53repo rate — it decides all of this . RR ,
30:56reverse repo rate , CRR , SLR , open
30:58market operations , etc. , are all part
31:01of its framework . Secondly , sir , it
31:05issues currency . It handles the issue
31:08of currency , it prints notes . It prints
31:11currency except for the ₹ 1 note .
31:13Alright , it also maintains the forex
31:16reserves . It creates forex reserves .
31:19There is a law , son , the Foreign
31:21Exchange Management Act 1999 , it
31:23regulates that . It handles that too .
31:26Who is handling all of this , sir ? Our
31:29dear MCA , sorry , RBI , sir ; it is the
31:32banker's bank , sir . It supervises the
31:35banks . The banker's bank , it supervises
31:39commercial banks . It keeps an eye on
31:42them . It does monitoring . It does all
31:44these tasks . Alright ? And what else
31:46does it do , sir ? What are its other
31:47functions ? Son , it is also the banker
31:49to the government . It manages all the
31:52accounts of the government , especially
31:54the Central and State governments . And
31:57what else does the RBI do , sir ? Son ,
32:00the RBI controls the money supply in
32:02the country . It controls the money
32:04supply . The RBI acts as the lender of
32:07last resort . It performs the job of
32:10lender of last resort . It is a lender .
32:12Whenever any commercial bank has a
32:14problem , it comes and supports them .
32:16All this is written inside it . It is
32:19just very simple , brother . It is very
32:22easy . It can be done very easily . You
32:24just need to have the knowledge . You
32:26should have read it . Done . When you
32:31read the book , son , you will see one
32:33thing in it , that it mentions some of
32:35their offices . It is not very useful ,
32:38but since it is there , I will show it
32:39to you once . All this is done for us .
32:41SEBI's functions and everything are
32:42done . Look , this is what I was talking
32:44about . It has 27 offices . There are
32:47regional offices . Four sub-offices .
32:49They have a subsidiary company , DICGC ,
32:51which provides insurance for our funds .
32:55Then it also has good training centers .
32:57They are in different locations . It is
32:59just all this data provided . As such ,
33:00this is not useful for us . It can be
33:03done very easily in the exam , brother .
33:06It is very easy . You have done IBBI . It
33:09has been taught to you . Everything
33:10above this has been taught . NCLT , NCLAT
33:12, all of this has been taught . So the
33:14chapter is finished . What is there in
33:16this chapter ? It is a very small
33:18chapter , sir . You can score well in
33:23this . Tell me , You will do it very well
33:34. Promise ? Yes , sir . So alright ,
33:38children , it was a short chapter . Nice
33:40chapter ! And it's a good thing for us ,
33:42right ? It's a scoring chapter . We will
33:44get a good score , so what could be
33:45better for us than that ? The chapters
33:47are small , so that's a good thing . And
33:49I would prefer if two bodies come . Even
33:52one is fine , but if two come , it would
33:54be even better . Whether it's MCA , SEBI ,
33:57or NITI Aayog , anything at all , any of
34:00them is good for us . So let's start . I
34:06mean , let's finish . I will see you in
34:08the next class , kids , with a new
34:10chapter . Until then , take care of
34:12yourselves . Study well and keep
34:14revising . Whatever topics are being
34:18covered , make sure to cover them
34:19thoroughly . Don't wait . Keep finishing
34:23the topics as they come . This is very
34:25important . Done . Besides , we have to
34:27get a rank in October , an AIR . We have
34:29to pass with good marks . That is a
34:31given . See you in the next class . Until
34:33then , thank you so much for joining the
34:34class . I hope you liked the class . I
34:36hope you found it comprehensive . We
34:38have covered almost all the content . We
34:40have done it in a great way . Thank you
34:42so much .