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- The Ministry of Home Affairs’ Indian Cybercrime Coordination Centre (I4C) has launched the e-Zero FIR initiative to streamline the process of reporting cyber financial crimes.
- About e-Zero FIR
- Initially rolled out as a pilot in Delhi, this initiative aims to simplify the reporting and resolution of cyber financial crimes. Complaints involving financial losses exceeding ₹10 lakh, reported to the National Cyber Crime Reporting Portal (NCRP) or the helpline 1930, will automatically trigger the registration of a Zero FIR with Delhi’s e-Crime Police Station.
- Once registered, the complaint will be promptly forwarded to the appropriate territorial Cyber Crime Police Stations for further investigation. Complainants have up to three days to visit the cybercrime police station and convert their Zero FIR into a formal FIR, ensuring quicker action on financial cybercrime cases. This initiative seeks to improve efficiency and expedite justice for victims of cyber financial crimes.
- RBI Updates Guidelines for Investment in Alternative Investment Funds (AIFs)
- The Reserve Bank of India (RBI) has revised the regulatory framework governing investments in Alternative Investment Funds to enhance transparency and safeguard investor interests.
- What Are AIFs?
- Alternative Investment Funds (AIFs) are privately pooled investment vehicles established in India that collect capital from sophisticated Indian or foreign investors. These funds invest according to a defined strategy for the benefit of their investors and are regulated by SEBI under the SEBI (Alternative Investment Funds) Regulations, 2012.
- Types of AIFs:
- Category I AIFs: Focus on socially and economically impactful sectors like startups and early-stage businesses.
- Examples: Venture Capital Funds, Angel Funds, Infrastructure Funds, SME Funds
- Category II AIFs: Do not use leverage except for routine expenses.
- Examples: Private Equity Funds, Debt Funds, Real Estate Funds
- Category III AIFs: Permitted to use leverage, including investments in derivatives.
- Examples: Hedge Funds, Private Investment in Public Equity (PIPE)
- Category I AIFs: Focus on socially and economically impactful sectors like startups and early-stage businesses.
- Operation Olivia Protects Over 8 Lakh Olive Ridley Turtles in Odisha
- Operation Olivia, a conservation initiative, has successfully safeguarded more than 800,000 Olive Ridley turtles along Odisha’s Gahirmatha coast.
- About Operation Olivia
- Launched in the 1980s by the Indian Coast Guard, Operation Olivia is an annual conservation drive running from November to May. The operation primarily targets key coastal areas like Gahirmatha Beach, Rushikulya River Mouth, and Devi River Mouth—regions known for the mass nesting of Olive Ridley turtles, a phenomenon called arribada.
- Olive Ridley Turtles
- These turtles are found in tropical waters worldwide, except for the Gulf of Mexico. The species is listed as "Vulnerable" by the IUCN and is included in CITES Appendix I, which provides the highest level of protection. Through continued efforts like Operation Olivia, the survival of these endangered turtles is actively supported, ensuring their nesting habitats remain protected during the crucial breeding season.