Agreement between IICA and NICF

18.10.2023

Agreement between IICA and NICF , Daily Current Affairs , RACE IAS : Best IAS Coaching in Lucknow

Why in the news?

Recently an MoU has been signed between the Indian Institute of Corporate Affairs and the National Institute of Communication Finance for academic and research cooperation.     

important point:

• Agreement between IICA and NICF: This agreement has been signed for academic and research cooperation to mutually synergize the professional capabilities of both the institutions.
• This agreement envisages exchange of knowledge and resources between the two for conducting research, training, capacity building and advocacy.
• The objective of the agreement is to coordinate the professional capabilities of both the institutions towards advocacy, research assistance, technical and handholding assistance and capacity building services in various areas of finance, restructuring, turnaround, competition law, corporate law, corporate governance, insolvency and bankruptcy law.

Importance of Agreement:

• This agreement will provide a more structured approach to cooperation between the two institutions on matters common to their mandate and objectives.
• Capacity building programs and research will enable Indian Post and Telecommunication Accounts and Finance Service (IP&TAFS) officers to enhance professional horizons.
• This agreement will help them gain deeper understanding and enhance their competitive edge when operating in a VUCA (Volatility, Uncertainty, Complexity, Ambiguity) environment.
• This agreement is an important step towards strengthening nation building.

About IICA:

• IICA was established in the year 2012.
• IICA is an institute established as an autonomous body by the Ministry of Corporate Affairs (MCA), Government of India.
• It serves as a think-tank and center of excellence to support the development of the corporate sector in India through an integrated and multidisciplinary approach.
• IICA was established to provide training and development programs to various stakeholders in the corporate sector.
• IICA offers a wide range of programs including short-term courses, certificate courses, diploma courses and postgraduate degree programmes.
• IICA is recognized by MCA as a premier training institute for corporate governance and company law.
• A Memorandum of Understanding (MoU) was signed between IICA and National Defense University (RRU) in June 2023.

About NICF

• National Institute of Communications Finance (NICF) is a top level training institute.
• It operates under the aegis of the Department of Telecommunications, Ministry of Communications, to cater to the training needs of Indian Posts and Telecommunications Accounts and Finance Service (IP&TAFS) officers and staff.
• It is recognized by DoPT as one of the Central Training Institutes (CTIs).
• It is also a body constituted under DoPT to develop a cohesive capacity building ecosystem for civil services.
• It is accredited by the Capacity Building Commission with 3 out of 5 stars (Excellent).

About Capacity Building Commission:

• Constituted by the Government of India on 1 April 2021, the Capacity Building Commission is tasked with standardizing and harmonizing the Indian Civil Services landscape.
• As the custodian of civil service capacity building reforms, the Commission's role is central in the overall institutional framework of Mission Karmayogi.
• Established as an independent body with full executive and financial autonomy, the Commission consists of a Chairperson and three Members and is supported by an internal secretariat.
• The Secretariat is headed by an officer of the level of Joint Secretary to the Government of India (designated as Secretary to the Commission).
• Its members are appointed from diverse backgrounds to ensure adequate representation of multiple perspectives such as state governments, public sector, private sector, academia, etc.
• The main objective of the Commission is to build credibility and shape a common approach to capacity building on a collaborative and co-sharing basis.

Functions of Capacity Building Commission:

• Preparation of Annual Status of Civil Services Report.
• To exercise functional supervision over training institutions and create shared learning resources.
• To facilitate formulation of annual capacity building plans for ministries and departments.
• Organization of Global Human Resources Summit.
• Develop a cohesive, open approach to capacity building initiatives.
• To audit the human resources available in the government.
• Recommend policy interventions in the areas of personnel/human resources to DoPT.