Economy from Dec Flashcards
(139 cards)
1
Q
Financial Sector Assessment Programme
A
It is a joint program of the International Monetary Fund (IMF) and the World Bank, which undertakes a comprehensive and in-depth analysis of a country’s financial sector every 5 years.
This was the second comprehensive FSAP conducted for India. Last FSAP for India was conducted in 2011-12
.
As part of Financial Sector Assessment Programme (FSAP), the IMF and WB have released the Financial System Stability Assessment (FSSA) and Financial Sector Assessment (FSA) for the Indian financial system.
2
Q
Define Habitation
A
A Habitation is a cluster of a population, living in an area, the location of which does not change over time. Desam, Dhanis, Tolas, Majras, Hamlets etc. are commonly used terminology to describe the Habitations.
3
Q
The Reserve Bank of India (RBI) defines Banking Stability Index (BSI) as
A
“the expected number of banks that could become distressed given that at least one bank has become distressed”
4
Q
The Consumer Protection Act (CPA) 1986 provides :
o Central Consumer Protection Council to promote six rights:
A
(i) Right of Safety
(ii) Right be informed
(iii) Right to choose
(iv) Right to be heard
(v) Right to seek redressal
(vi) Right to Consumer Education.
5
Q
IEA defines energy access as
A
“a household having reliable and affordable access to both clean cooking facilities and to electricity, which is enough to supply a basic bundle of energy services initially, and then an increasing level of electricity over time to reach the regional average”.
6
Q
Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY):
A
DDUGJY is one of the flagship programmes of the Ministry of Power. It focuses on feeder separation (rural households & agricultural) and strengthening of sub-transmission & distribution infrastructure including metering at all levels in rural areas.
7
Q
UDAY (Ujwal DISCOM Assurance Yojana)
A
for improvement in financial and operational efficiencies of State Power Distribution Companies (DISCOMs)
8
Q
Pradhan Mantri Sahaj Bijli Har Ghar Yojna (Saubhagya Scheme):
A
To supply electricity to all households by December 2018. It aims to improve the environment, public health, education and connectivity with the help of last-mile power connections across India.
9
Q
UJALA (Unnat Jyoti by Affordable LEDs for All) Yojana:
A
Under it subsidised LED bulbs were distributed to public. It is implemented by Energy Efficiency Services Limited (EESL)
10
Q
National Biogas and Manure Management Programme (NBMMP)
A
for setting up of family type biogas plants in rural and urban areas of the country.
11
Q
National Biomass Cookstoves Initiative (NBCI)
A
launched by GOI to enhance the use of improved biomass cookstoves
12
Q
Methanol
A
It is known as wood alcohol, it is colourless, obtained both naturally and artificially, biodegradable, flammable,
poisonous, and renewable source of energy.
• It is a single carbon compound made from the destructive distillation of wood and also produced from coal, natural gas, biomass (i.e. products which are capable of producing syngas),
Use: in organic synthesis, as a fuel, solvent, and antifreeze.
• Certified as fuel by Bureau of India Standards 2016.
• The gaseous version of Methanol – DME (Dimethyl ether) can be blended with LPG
Methanol on the other hand produces no particulate
matter, no soot, almost nil SOX and NOX emissions..
13
Q
Green Energy Corridors Project:
A
Power evacuation and transmission infrastructure for renewables is being augmented as part of the “Green Energy Corridors” project.
14
Q
Sustainable Rooftop Implementation for Solar
Transfiguration of India (SRISTI)
A
To accelerate the deployment of rooftop solar power in the country, the Ministry of New and Renewable Energy (MNRE) has prepared a concept note on SRISTI.
15
Q
National Highways Investment Promotion Cell
NHIPC
A
NHAI has created it. It is required for attracting domestic and foreign investment. it is needed to fund Bharatmala Pariyojana. The cell will engage with global institution investors, constructions companies, developers and fund managers in order to build investor participation in road infrastructure projects
16
Q
Hong Kong Convention 2009:
A
establishment of an appropriate enforcement mechanism for ship recycling, incorporating certification and reporting requirements.
17
Q
International Civil Aviation Organisation
A
It is a specialised agency of the United Nations which was established in 1944 to manage the administration and governance of the Convention on International Civil
Aviation (Chicago Convention).
18
Q
The Chicago Convention
A
It is a convention on international Civil Aviation for safe and orderly development of international air transport services, based on equality of opportunity.
19
Q
Rashtriya Krishi Vikas Yojana- Remunerative Approaches for Agriculture and Allied sector Rejuvenation (RKVY-RAFTAAR)
A
To make farming a remunerative economic activity through strengthening the farmer’s effort, mitigating risk and promoting agribusiness entrepreneurship.
It is a special Additional Central Assistance scheme to incentivise States that increase their investment in agriculture and allied sectors.
It encouraged decentralized planning for agriculture and allied sectors through preparation of District Agriculture Plans (DAPs) and State Agriculture Plan (SAP) based on agro-climatic conditions, availability of appropriate technology and natural resources to ensure accommodation of local needs, cropping pattern, priorities etc.
20
Q
RKVY-RAFTAAR sub-schemes
A
Bringing Green Revolution to Eastern India (BGREI). Crop Diversification Program (CDP). Reclamation of Problem Soil (RPS). Foot & Mouth Disease – Control Program (FMD-CP). Saffron Mission. Accelerated Fodder Development Programme (AFDP).
21
Q
National Power Portal (NPP)
A
It is a centralized platform for collation and dissemination of Indian power sector information, (through GIS enabled navigation and visualization chart windows) for generation, transmission and distribution of power in India.
NPP Dashboard would also act as the single point interface for all Power Sector Apps launched previously by the government like TARANG, UJALA, VIDYUT PRAVAH, GARV, URJA and MERIT.
Significance: It would serve as a single authentic source of power sector information for the purpose of analysis, planning, and monitoring for the government and public.
Central Electricity Authority (CEA) is a nodal agency for NPP implementation.
22
Q
Agricultural And Processed Food Product Export Development Authority (APEDA)
A
It is an export promotion organization under Ministry of Commerce & Industries. It is mandated with the responsibility of promotion and development of the export of its scheduled products.
It was established under the Agricultural and Processed Food Products Export Development Authority Act.
23
Q
Seed Replacement Ratio (SRR)
A
It is a measure of how much of the total cropped area was sown with certified seeds in comparison to farm saved seeds.
It represents the access of farmers to quality seed and directly proportional to the productivity of farming.
24
Q
Mutual Agreement Procedure (MAP)
A
MAP is a way by which taxpayer can seek relief in his country of residence when he feels that he is not being
taxed according to the terms of the bilateral treaty between the two countries.
25
Consumer Welfare Fund
The Fund has been set up by the Department of Revenue and, is being operated by the Ministry of Consumer Affairs, Food & Public Distribution, Department of Consumer Affairs.
The overall objective of the Consumer Welfare Fund is to provide financial assistance to promote and protect the welfare of the consumers and strengthen the consumer movement in the country.
26
Recapitalisation Bonds Method
It refers to using equity money in order to restructure an institution’s debt.
The bonds can be issued either directly by the government or through a holding company.
The government will issue bonds to the banks for a share of the bank’s Equity.
The annual interest on these bonds and the principal on redemption will be paid by the central government.
These bonds can be sold off by the banks in the market when in need of capital.
27
What is information utility?
It is an information network which would store financial data like borrowings, default and security interests etc. of firms.
It would specialize in procuring, maintaining and providing/supplying financial information to businesses, financial institutions, adjudicating authority, insolvency professionals and other relevant stake holders.
It is mandatory for financial creditors to provide financial information to the information utility. Hence, database and records maintained by them would help lenders in taking informed decisions about credit transactions.
Information available with the utility can be used as evidence in bankruptcy cases before the National
Company Law Tribunal.
They are governed by the Insolvency and Bankruptcy code 2016 and IBBI (Information Utilities) Regulations
2017 and IBBI overseas aspects such as registration and cancellation of these entities, their shareholding
and governance among others.
National e-Governance Services Ltd (NeSL) became India’s first information utility (IU) for bankruptcy cases
under the Insolvency and Bankruptcy Code 2016. Also, the Insolvency and Bankruptcy Board of India (IBBI)
eased ownership norms for information utilities allowing Indian firms listed on stock exchanges to hold
100% in such firms.
28
Economic Advisory Council to Prime Minister (EAC-PM)
It is an independent body constituted by the Prime Minister to give advice on economic and related issues
to the Government of India, specifically to the Prime Minister.
It was constituted for the first time in the early 1980s when the national income declined and inflation rose under the impact of global oil shock and drought.
It continued for three decades until it was disbanded in 2014.
The newly constituted five-member council consists of Dr Bibek Debroy (Chairman), Dr Surjit Bhalla, Dr.
Rathin Roy, Dr Ashima Goyal, Ratan Watal.
It will also be working closely with the Reserve Bank of India on monetary policy and fiscal framework.
29
ISOPOM (Integrated Scheme of Oilseeds, Pulses, Oil Palm and Maize)
Under this, four schemes related to oilseeds, pulses, oil palm and maize have been merged into one Centrally Sponsored ISOPOM.
It is being implemented by Department of Agriculture & Cooperation
Financial assistance is provided to farmers for purchase of breeder seed, production of foundation seed, production and distribution of certified seed etc.
30
National Mission on Oilseeds and Oil Palm (NMOOP)
It is implemented under three sub-mission namely; MM I –Oilseeds, MM II – Oil Palm, MM III – TBOs (Tree-Based Oil).
The mission targets increasing production of oilseeds to 42 mn tonnes by FY2022 from estimated 34 mn tonnes in FY2017
The strategy and guideline for NMOOP include:
Increasing Seed Replacement Ratio (SRR) with focus on Varietal Replacement;
Increasing irrigation coverage under oilseeds from 26% to 36%
Diversification of area from low yielding cereals crops to oilseeds crops; inter-cropping of oilseeds with cereals/pulses/sugarcane;
Use of fallow land after paddy /potato cultivation
Expansion of cultivation of Oil Palm and tree-borne
oilseeds in watersheds and wastelands;
Increasing availability of quality planting material enhancing procurement of oilseeds and collection;
Processing of tree borne oilseeds.
31
North East Region Textile Promotion Scheme (NERTPS)
It aims to develop and modernise the textile sector in the North East Region by providing the required Government support in terms of raw material, machinery, skill development etc.
It is being implemented under two broad categories viz., Integrated Sericulture Development Project (ISDP) and Intensive Bivoltine Sericulture Development Project [IBSDP].
It is an umbrella scheme under Ministry of Textiles for the development of various segments of textiles, i.e. silk,
handlooms, handicrafts and apparels & garments.
32
Ro-Ro Ferry Service
It refers to vessels used to carry wheeled cargo like cars, trucks, semi-trailer trucks, trailers, and railroad cars, that are driven on (rolled on) and off (rolled off) the ferry on their own wheels or using a platform vehicle.
It has been launched by Ministry of Shipping as part of Sagarmala Project.
It funded partly by Gujarat Government and
partly under Sagarmala Project.
It is also being proposed to be extended to other
locations such as Gulf of Khambat and Gulf of
Kutch.
33
Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP)
World Bank supported scheme.
These are outcome focused projects marking a shift in government’s implementation strategy in vocational education and training from inputs to results.
SANKALP, a centrally sponsored scheme (funded directly by Central Ministries and implemented by States or their agencies), addresses this need by setting up national bodies for accreditation and certification.
34
Skill Strengthening for Industrial Value Enhancement (STRIVE).
World Bank supported scheme.
STRIVE, a central sector scheme (funded and implemented by the Central Government machinery), aims to modernize 500+ ITIs through outcomes and reform linked funding.
The architecture shall help to converge the efforts of various central, state and private sector institutions thereby avoiding duplication of activities and bringing about uniformity in vocational training.
The schemes aim to strengthen institutions such as State Skill Development Missions (SSDMs), National Skill Development Corporation (NSDC), Sector Skill Councils (SSCs), ITIs and National Skill Development Agency (NSDA) etc. and ensure greater decentralization in skill planning.
They support universalization of National Skills Qualification Framework (NSQF) including National Quality Assurance Framework (NQAF) across the skill development schemes of central and state output.
35
Sampoorna Bima Gram Yojana (SBG)
Ministry of Communications launched it.
To provide affordable life insurance services to people living in rural areas of the country through the postal network.
To identify at least one village (having a minimum of 100 households) in each of the revenue districts of the country and cover all households with a minimum of one RPLI (Rural Postal Life Insurance) policy in that village.
All villages under the Saansad Adarsh Gram Yojana will be covered under it.
36
Market Infrastructure Institutions (MII)
These institutions are systemically important for the country’s financial development and serve as the infrastructure necessary for the securities market.
They include stock exchanges, depositories and clearing corporations.
37
Types of commodities are traded on the Multi-Commodity Exchange (MCX)
bullion, base metals, energy and agro commodities.
| Recently, gold options were launched for the first time in India on Multi Commodity Exchange (MCX).
38
MCLR
MCLR: It refers to the minimum interest rate of a bank below which it cannot lend. It is calculated on the basis of marginal cost of arranging one more rupee to the prospective borrower.
39
Base Rate:
It is the minimum interest rate at which a bank can lend. It is calculated according to the RBI guidelines. It differs from one bank to another.
40
Spread
Spread: It is difference between base rate and the
| rate charged to the customer on loans and advances.
41
Treasury bills
These are government securities (debt instruments) used by the government to raise money for a shorter period of time i.e less than a year. Therefore, they are categorized as money market instruments.
T-bills do not pay interest but are rather sold at a discounted rate and can be redeemed at the face value at maturity.
42
Certificate of Deposits:
It is a money market instrument issued in demat form or as promissory notes by banks against funds deposited at the banks. they can either be offered at a discounted rate or with a floating rate (to be determined by the market forces)
43
Repo rate:
it is the rate at which banks borrow money from the RBI against the pledge of government securities.
44
Project Chaman (Coordinated Horticulture Assessment and Management using geo-informatics)
It uses Geographical Information System tools along with remote sensing data for generating action plans for horticultural development.
It also aims to carry out research activities on horticultural crop condition studies, diseases assessment and precision farming.
It was launched in 2014 by Ministry of Agriculture under the Mission of Integrated Horticulture Development.
It is being implemented by New Delhi based Mahalanobis National Crop Forecast Centre (MNCFC).
45
NIIF
NIIF was set up in 2015 and registered as a category II alternative investment fund with the SEBI.
The corpus of the fund is proposed to be around Rs. 40, 000 crores, with the government investing 49% and the rest to be raised from third-party investors such as sovereign wealth funds, insurance and pension funds.
A governing council under the chairmanship of the Finance Minister act as an advisory council to NIIF.
It will invest in areas such as energy, transportation, housing, water, waste management and other commercially viable greenfields, brownfield and stalled projects in the infrastructure sector.
Abu Dhabi Investment Authority (ADIA) will become the first institutional investor in NIIF's Master Fund and a shareholder in National Investment and Infrastructure Ltd, the NIIF's investment management company.
46
Start-up Sangam initiative
Launched by Ministry of Petroleum and Natural Gas for bringing in innovations and disruptions in the technology in heavy oil and gas industry.
Under the initiative, a corpus of 320 crores has been put together by the contribution of various PSUs like - India Oil Corporation, ONGC, Engineers India etc.
It will be used to fund more than 30 start-ups for the next three years.
The selected start-ups will work in various energy fields such as converting waste plastics to petroleum fuels, solar stove, multipurpose fuel from agricultural waste biomass and leak detectors for liquefied natural gas (LNG) cylinders etc.
It is expected to reduce fuel import dependence through innovations in alternative fuels.
47
Energy Efficiency Services Ltd (EESL)
It is a joint venture of four National Public Sector Undertakings – NTPC Limited, Power Finance Corporation Limited, Rural Electrification Corporation Limited and POWERGRID Corporation of India Limited.
It has been set up under Ministry of Power, Government of India.
It implements Street Lighting National Programme (SLNP) and Unnat Jyoti by Affordable LEDs for All(UJALA)
It also leads the market-related activities of the National Mission for Enhanced Energy Efficiency.
48
Sustainable and Accelerated Adoption of Efficient Textile Technology to Help Small Industries (SAATHI) Scheme
Launched by Ministry of Power and Ministry of Textile.
Under this initiative, Energy Efficiency Services Limited (EESL), would procure energy efficient Powerlooms, motors and Rapier kits in bulk and provide them to the small and medium Powerloom units at no upfront cost.
The initiative will be jointly implemented by Energy Efficient Services Limited (EESL) and the office of the
Textile Commissioner on a pan-India basis.
49
Oil Producing region In India
Brahmaputra valley of north-east India.
Barmer area of Rajasthan.
Cauvery on-shore basin in Tamil Nadu.
Andhra Pradesh has both on-shore and offshore oil
reserves.
The Mumbai High in the Arabian sea (india's biggest)
50
International Road Federation
The IRF is global non-governmental, not-for-profit organisation with mission to encourage and promote development and maintenance of better, safer and more sustainable roads and road networks.
IRF seeks to promote social and economic benefits of sustainable and environmentally sound road transport infrastructure at all levels of society.
It helps to put in place technological solutions and management practices
It provides a wide base of expertise for planning road development strategy and policy for governments and financial institutions in all aspects of road policy and development.
51
Intelligent Transportation Systems (ITS)
It visualizes information and communication technology (ICT) and advanced vehicular technologies, helping mobile vehicles and infrastructure communicate on a real-time basis.
It is essentially a multi-disciplinary and cross-functional, and involves the following systems:
-Advanced traffic management systems (ATMS)
-Advanced traveller information systems (ATIS)
-Advanced vehicle control systems (AVCS)
-Commercial vehicle operations (CVO)
-Advanced public transportation systems (APTS)
-Advanced rural transportation systems (ARTS)
52
National Skill Development Corporation (NSDC)
It is a public-private company with the primary mandate of catalysing the skills landscape in India.
It has been designated as the implementation agency for PMKVY.
53
SheMeansBusiness program
Recently Odisha Government launched SheMeansBusiness program to train women entrepreneur and Self Help Groups (SHGs).
Under the Scheme, 25,000 women entrepreneurs and Self Help Groups will be provided training on Digital Marking skills within next one year free of cost.
Facebook will also develop a database of entrepreneurs and track their growth, turnover and profit after one year.
This is a joint venture between MSME Department, Directorate of Mission Shakti and Facebook.
54
Mission Shakti
It is one of the key initiatives undertaken by government of Odisha for women empowerment
It promotes women’s SHGs with a specific aim of economic empowerment
55
Operation All-Out
Operation All-Out was launched in March 2017 to counter the militant violent attacks in Kashmir.
This Operation is based on planning and intelligence gathering.
Previously in December 2014, Operation All out was also launched by Government in violence-hit Assam
against Bodo Militants. The operation proved to be a massive success.
56
SUNREF housing project
Recently National Housing Bank (NHB) along with French Development Agency (FDA) and the European Union, have joined hands to launch SUNREF housing project in India.
SUNREF (Sustainable Use of Natural Resources and Energy Finance) Housing India will provide financing of €112 million to NHB, through a credit line of €100 million and a grant of €12 million financed by the European Union.
57
The region of Burdwan is known as the
rice bowl of Bengal
58
NCRB
NCRB is an attached office to the Ministry of Home Affairs which was established in 1986 to empower Indian Police with the power of information Technology solutions and criminal intelligence to enforce the law
effectively.
59
Bureau of Police Research and Development (BPRD).
BPRD was established in 1970 as a national police organisation to study, research and develop on subjects
and issues related to policing.
60
DIRECTORATE GENERAL OF GOODS AND SERVICE TAX INTELLIGENCE (DGGSTI)
It is the new name given to the Directorate General of Central Excise Intelligence (DGCEI)
It is the apex intelligence organisation functioning under CBEC, Dept of Revenue
It mandated to check service tax and central excise duty evasion.
It develops intelligence in new areas of tax evasion through its intelligence network across the country
It also alerts field formations about the latest trends in the duty or tax evasion.
61
definition of ‘venture capital fund’.
The venture capital fund is now defined as a fund registered under the SEBI (Venture Capital Funds) Regulations, 1996.
Venture capital funds are investment funds that manage the money of investors who seek private equity stakes in startup and small- to medium-sized enterprises with strong growth potential. These investments are generally characterized as high-risk/high-return opportunities.
62
What are Convertible Notes
A convertible note is a form of short-term debt that converts into equity, typically in conjunction with a future financing round; in effect, the investor would be loaning money to a startup and instead of a return in the form of principal plus interest, the investor would receive equity in the company.
63
Jal Marg Vikas project
It is intended to connect hubs and feeder port to waterways, which would reduce the feeder time, retaining transhipment faster and cheaper movement of marine side traffic.
64
e-Shakti initiative
Recently Micro Credit and Innovation Department of NABARD has launched e-Shakti initiative for digitisation of Self Help Groups (SHGs).
65
Aajeevika Grameen Express Yojana (AGEY)” part of the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM).
The SHGs under DAY-NRLM will operate road transport service in backward areas which will help to provide safe, affordable and community monitored rural transport services to connect remote villages with key services and amenities (such as access to markets, education and health) for the overall economic development of backward rural areas.
The Community Investment Fund (CIF) provided to Community Based Organization (CBOs) under DAY-NRLM will be utilized to support the SHG members in this new livelihoods initiative.
The beneficiary SHG member will be provided an interest free loan by the CBO from its Community Investment Fund upto Rs.6.50 lakh for purchase of the vehicle.
Or the CBO can own the vehicle and lease it to an SHG member to operate the vehicle and pay lease rental to the CBO.
66
Deen Dayal Antyodaya Yojana (DAY)
Deen Dayal Antyodaya Yojana (DAY) with an aim to uplift the urban poor folks by enhancing sustainable livelihood opportunities through skill development.
It was launched under the Ministry of Housing and Urban Poverty Alleviation (HUPA).
The scheme is integration of the National Urban Livelihoods Mission (NULM) and National Rural Livelihoods Mission (NRLM).
The financial support under the programme is mainly in the form of Revolving Fund and Community Investment Funds, given as grants to the Self Help Groups (SHGs) and their federations.
67
Economic Internal Rate of Return (EIRR)
IRR is defined as the rate at which net present value of an investment project is equal to zero.
If IRR > required rate of return the project should be accepted.
EIRR differs from the financial rate of return in that it takes into account the effects of factors such as price controls, subsidies, and tax breaks to compute the actual cost the project to the economy.
68
What is an Exchange Traded Fund (ETF)?
Exchange Traded Funds are index funds that offer the security of a fund and liquidity of stock.
Much like index funds they mirror the index, commodity, bonds or basket of assets.
Their price changes daily as they are traded throughout the day.
69
Bharat 22
Government of India is set to launch its second ETF (Exchange Traded Fund) Bharat 22 which will comprise 22 stocks including those of central public sector enterprises (CPSEs), public sector banks and GOI’s holdings under the Specified Undertaking of Unit Trust of India (SUUTI).
The ETF will have a diversified portfolio of companies from six sectors with a 20% cap on each sector and a 15% cap on each stock.
The new ETF will help government sell equity stakes in state-run firms and also help in achieving its objective to raise Rs. 72,500 crore through disinvestment in the current financial year.
70
Public Credit Registry.
At present, there are four private credit databases which are regulated by RBI under Credit Information Companies (Regulation) Act, 2005 (CICRA 2005) namely
o Credit Information Bureau (India) Limited (CIBIL),
o Equifax
o Experian
o CRIF Highmark
However, RBI has proposed the creation of an integrated facility as PCR which will help to remove inconsistencies such as information asymmetry and data fragmentation.
Public Credit Registry is a database of credit information which is accessible by all the stakeholders.
It will be managed by a public authority as RBI and the lenders will have to mandatorily report the loan
details.
71
Financial Data Management Centre (FDMC)
FDMC would subsequently collect raw data directly from various financial regulators.
Such a data repository would serve to assist the Financial Stability and Development Council (FSDC) in conducting research on systemic risk and system-wide trends, and facilitate a discussion about policy alternatives between the members of the FSDC.
Creation of FDMC under the aegis of FSDC was first
mooted by a committee headed by Ajay Tyagi.
72
Financial Stability and Development Council
FSDC was constituted in December 2010.
The Council is chaired by the Union Finance Minister and its members are Governor, RBI; Finance Secretary and/or Secretary, Department of Economic Affairs; Secretary, Department of Financial Services; Chief Economic Adviser, Ministry of Finance; Chairman, SEBI; Chairman, IRDA and Chairman, PFRDA.
FSDC deals with issues relating to financial stability, financial sector development, inter-regulatory coordination, financial literacy, financial inclusion and macro-prudential supervision of the economy including the functioning of large financial conglomerates.
73
National Investment Fund (NIF)
It was created in 2005. All the proceeds from the disinvestment of Centre Public Sector Enterprises were to be channelized in this fund.
75% of the fund will be used in social sector schemes while 25% is to be utilized in the revival of PSUs.
This rule was relaxed during global economic slowdown and the govt. approved 100% NIF income utilization for social sector from 2009 to 2013.
74
“AGRI UDAAN”- Food and Agribusiness Accelerator 2.0.
It is a food and Agriculture Accelerator which focuses on catalyzing scale-up Food & Agribusiness start-ups through rigorous mentoring, industry networking and Investor pitching.
The main idea is to attract rural youth and train them to add value to agriculture and farmer’s produce.
The aim of AGRI-UDAAN is to bring start-up revolution
in agriculture which has been mostly concentrated in Services sector.
75
e-RaKam
The government recently launched an e-auction portal e-RaKam for selling agricultural produce.
This portal is joint initiative of state-run-auctioneer MSTC and CRWC (Central Railside Warehousing Company).
This portal has been launched in order to help farmers get reasonable price for the produce and not fall prey to middlemen as well as save them the effort to carting the produce to the mandi.
The farmers will be paid directly into their bank accounts.
76
MSTC
MSTC Limited is a Mini Ratna Category-I PSU under the administrative control of the Ministry of Steel, Government of India.
77
uranium bank
International Atomic Energy Agency (IAEA) has opened a uranium bank for Low Enriched Uranium (LEU) in Oskemen city of Kazakhstan to discourage new nations from enriching the nuclear fuel.
The project was funded by donors, including the United States, the European Union, Kuwait, the United Arab Emirates, Norway and the Nuclear Threat Initiative.
It will store up to 90 tonnes of the fuel and will act as a supplier of last resort for Member States in case the
supply of LEU to a nuclear power plant is disrupted
due to exceptional circumstances.
IAEA will run the bank independently of any country, will purchase and store low-enriched uranium fuel for civilian reactors but not an ingredient for nuclear weapons.
Russia has operated a similar bank since 2010 and the United States of America also operates its own LEU
reserve.
78
SONA
Central Research Institute for Jute and Allied Fibres (CRIJAF) developed a microbial called SONA under Jute-ICARE project.
Microbial will enhance the quantity of fibre yield by 20% as well as its quality in terms of grade by at least 1 ½ grades.
79
Jute-ICARE project
Launched in 2015, by National Jute Board for better
agronomic practices through;
o Distribution of quality certified seeds at 50%
subsidy.
o line sowing of jute using seed drill to increase
yield by 10-15%;
o Reducing the cost of weeding by wheel
hoeing/nail weeder instead of hand weeding.
80
Pradhan Mantri Vaya Vandana Yojana (PMVVY)
Recently government launched Senior citizens’ pension scheme called the Pradhan Mantri Vaya Vandana Yojana (PMVVY) for senior citizens aged 60 or above. It is solely operated by Life Insurance Corporation (LIC).
Assured annual return of 8% for 10 years with government subsidizing LIC for any shortfall in actual return.
The ceiling of maximum pension is for entire family including pensioner, his/her spouse and dependants.
Pension is payable at the end of each period, during the policy term of 10 years, as per the frequency of monthly/ quarterly/ half-yearly/ yearly as chosen at the time of purchase.
Premature withdrawal is possible if required for the treatment of terminal or critical illness of the person or spouse. In this case, 98 per cent of the amount invested will be refunded.
In order to meet liquidity, loan up to 75% of purchase price can be availed after 3 policy years. Interest on loan can be paid from the pension installments.
81
The first structure in India to get Trademark status.
Taj Mahal Palace Hotel of Mumbai.
82
Trademark
Trademark refers to graphical representation of goods
or services to make it distinguishable from the others. Trademark can be words, symbols, sound, colours, shape of goods, graphics representation or packaging etc.
In India, trademarks are governed under Trademarks Act, 1999, under aegis of DIPP.
The implementing body is the Controller General of Patents, Designs and Trademarks.
Recently government has also issued the Trademark rules, 2017 to make the process of obtaining Trademark easier and hassle free.
83
Other structures in the world that have received the trademarks
Empire State Building, New York, USA
Eiffel Tower, Paris, France
Opera House, Sydney, Australia
84
Madrid Protocol
The Protocol Relating to the Madrid Agreement Concerning the International Registration of Marks (Madrid Protocol) is an international treaty that allows a trademark owner to seek registration in any of the countries that have joined the Madrid Protocol by filing a single application, called an "international application." The International Bureau of the World Intellectual Property Organization, in Geneva, Switzerland administers the international registration system.
The resulting "international registration" serves as a means for seeking protection in member countries, each of which apply their own rules and laws to determine whether or not the mark may be protected in their jurisdiction. Neither the Madrid Protocol nor the Madrid Agreement provide for registration of an "internationally effective" trademark.
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Global Foreign Exchange Committee (GFXC)
India is set to become member of GFXC.
It is forum of central bankers and experts working towards promotion of a robust and transparent forex market.
It has been established under the aegis of BIS.
The committee comprises of public and private sector representatives from the foreign exchange committees of 16 international forex trading centres.
One of the major tasks of the committee is to maintain and update the “Global Code of Conduct for the Foreign Exchange Markets”.
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star rating evaluation template
The star rating evaluation template for minor minerals like sand and clay has been formulated on the lines of the star rating system of major minerals that was launched in 2016.
There are six different categories for assessment.:
1. Systematic and sustainable mining
2. Protection of environment
3. Conservation of water and use of renewable energy resources
4. Health and safety of workers
5. Welfare measures and community engagement
6. Statutory compliance
If the lease area scores more than 75 points in its evaluation, it would be given 5-star rating. If it scores anywhere from 60-75, it would be given 4-star rating while score in between 50-60 would fetch 3-star rating.
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Sovereign Gold Bonds
Sovereign Gold Bonds are government securities denominated in physical gold.
It was first launched under the gold monetization scheme of 2015 with the objective of luring tonnes of physical gold in the Indian household into the banking system and reducing demand through imports and in the process reduce India's current account deficit.
It is issued by the RBI on behalf of the Government of India
These bonds carry sovereign guarantee both on the capital invested and the interest.
They carry a fixed interest rate of 2.50% per annum.
Only resident Indians can invest in SGBs for a minimum of 1 g and maximum of 500 grams per year.
Gold bonds are tradable on the stock exchange and can be held in both physical or demat form.
Investments in such bonds by banks will be counted in calculation in SLR (Statutory Liquidity Ratio).
The capital gains tax arising on redemption has been exempted.
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Hydrocarbons Exploration and Licensing Policy (HELP)
Uniform Licensing – It provides one single license for different types of hydrocarbons such as oil, gas, coal bed methane etc.
Open Acreage Policy – Explorers can now identify suitable area for exploration throughout the year. The government will then open the area for bidding.
Revenue Sharing - The govt. will receive a share of the gross revenue. Bidders are required to quote the revenue shares in their bids.
Marketing and Pricing Freedom - The policy provides marketing and pricing freedom subject to a ceiling price limit.
Exploration Phase - Exploration phase for the onshore areas have been increased from 7 to 8 years and offshore areas from 8 to 10 years.
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Green Bonds
According to SEBI, a bond shall be considered green bond if the funds raised through it will be used for renewable and sustainable energy including wind, solar, bio-energy, other sources of energy which use clean technology.
The first ever green bond was issued by multilateral institutions (European Investment Bank and World Bank) in 2007.
The first green bond in India was issued by Yes Bank in 2015.
Masala green bonds have also been issued by Indian entities.
SEBI recently released issuer guidelines for green bonds making it mandatory for issuers to disclose environmental objectives of issuance of such securities and the projects ear-marked for the same.
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blue bonds
(bonds that help fund water infrastructure projects are known as “blue bonds”
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Prompt Corrective Action
Prompt Corrective Action allows the RBI to pose certain restrictions on a bank when certain limits are breached.
These restrictions may include halting branch expansion, stopping dividend payments, special audit and more.
The risk thresholds that are taken into account are asset quality, profitability, NPA limit and the like.
PCA was first issued by the RBI in May 2014 and has recently been revised in April 2017.
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Capital-to-risk weighted Asset Ratio
Also called capital adequacy ratio, it refers to the amount of capital that a bank must have against its current liabilities and risk-weighted assets (loans).
This is mainly to prevent the banks from taking excess leverage and becoming insolvent in the process.
According to the revised PCA norms, banks are required to maintain a minimum CRAR of 9 percent.
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Stressed Assets Ratio
It refers to the ratio of total stressed assets (GNPAs+ restructured loans) to the total assets.
94
GST council
It is a constitutional body set up as per Article 279A to decide issues relating to GST
It consists of following members:
o Union Finance Minister - Chairperson
o Union Minister of State, in-charge of Revenue or finance
o Minister In-charge of finance or taxation or any other Minister nominated by each State Government
The Secretary of Revenue Department will work as EX-Officio Secretary to the GST Council,
The Chairperson of Central Board of Excise and Customs will be the permanent invitee in all the proceedings of the GST Council who will not have the voting rights.
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GSTN (GST Network)
It is a not for profit, non-Government, private limited company set up primarily to provide IT infrastructure and services to the Central & State Governments, tax payers & other stakeholders for GST implementation.
Its 3 major functions include:
o Registration
o Tax Payment– 97% paid electronically
o Filing for returns
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reverse charge mechanism under GST
Where liability to pay tax is of recipient of goods & services rather than the supplier when goods or services have been received from an unregistered person.
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Tax Buoyancy
Tax buoyancy is an indicator to measure efficiency and responsiveness of revenue mobilization in response to growth in the Gross domestic product or National income.
A tax is said to be buoyant if the tax revenues increase more than proportionately in response to a rise in national income or output.
A tax is buoyant when revenues increase by more than say, 1 per cent for a 1 per cent increase in GDP.
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Gig Economy
a labour market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs.
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SATH
NITI Aayog has launched SATH, a program providing ‘Sustainable Action for Transforming Human capital’ with
the State Governments.
The vision of the program is to initiate transformation in the education and health sectors.
The program addresses the need expressed by many states for technical support from NITI aayog.
SATH aims to identify and build three future ‘role model’ states for health systems.
The program will be implemented by NITI along with McKinsey & Company and IPE Global consortium, who
were selected through a competitive bidding process.
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GST suvidha providers (GSP)
These are third-party application providers which are allowed by GSTN to smoothen the process of tax administration under GST.
The GSTN has selected 34 GSPs to provide an additional channel for filing returns and other compliances relating to GST.
The GSTN portal will be able to handle the load of smaller taxpayers who will enter up to 100-200 invoices, but for those whose invoices run into thousands, GSPs are the recommended route since the GSTN portal can cater only to around 80 lakh taxpayers.
GSPs are expected to help large businesses with complex internal processes in complying with the GST
regime
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Innovate in India (i3)
The program named Innovate in India (i3) i.e. the National Biopharma Mission was recently launched.
The Mission to be implemented by Biotechnology Industry Research Assistance Council (BIRAC), a Public Sector Undertaking of Department of Biotechnology, will bring together expertise from national and international corridors to provide strategic guidance and direction to move promising solutions through the product development value chain.
102
Deen Dayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM)
The objective to organize all rural poor households in the country and continuously nurture and support them till they come out of abject poverty.
This was sought to be achieved through universal social mobilization by organizing at least one-woman member from each rural poor household into Self Help Groups (SHGs).
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Aji Dam
Recently the Prime Minister inaugurated the filling of Aji Dam near Rajkot under Sauni Yojana.
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Financial Resolution and Deposit Insurance Bill, 2017
The broad aim of the bill is to ensure early recognition of a financial firm, regulated by RBI, SEBI, IRDA or PFRDA, which could potentially be in trouble so as to lower the impact on the economy.
This Bill deals only with the companies that are in the financial sector such as banks and insurance companies. Insolvency Code Act deals with companies in all other sectors.
When enacted, it will pave the way for setting up of the Resolution Corporation.
The bill will result in the repealing of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 to transfer the deposit insurance powers and responsibilities to the Resolution Corporation.
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Resolution Corporation
This Corporation will take swift action for winding up or dissolving a firm. Once that happens, the Corporation will act like a receiver - ensure quick payments to depositors up to a certain limit to which their deposits have been insured and settle the claims of debtors and equity holders.
It will have a corpus or fund built on premiums by firms which are covered under the new law, besides contributions from the government.
It would protect the stability and resilience of the financial system; protecting the consumers of covered obligations up to a reasonable limit; and protecting public funds, to the extent possible.
It is expected to cover all firms regulated by the RBI, SEBI, IRDA and PFRDA.
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draft Urban Rental Housing Policy
It classifies rental housing into two broad categories: Social rental housing for urban poor and market-driven rental housing.
o Social rental housing is targeted at the economically weaker sections (EWS), low-income groups (LIG) and the section defined as ‘tenants by constraint’ which includes the urban poor belonging to SCs, STs and OBCs, migrants, transgenders and senior citizens.
o Market-driven rental housing includes institutional rental units such as hostels for students and working people, public rental housing for the PSU employees and government departments and private rental housing for everyone else.
It talks of setting up a fund for rental vouchers to be given on a pilot basis in select smart cities. These vouchers, equivalent to a certain cash amount would partially offset the cost of rent incurred by the urban poor.
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Fugitive Economic Offenders Bill, 2017
aims to deter economic offenders from fleeing the country by attaching and confiscating properties owned by them in India.
The proposed law will be applicable in cases where value of offences is over Rs 100 crore.
The Bill makes provisions for a special court under the Prevention of Money Laundering Act to declare a person a ‘Fugitive Economic Offender’.
A Fugitive Economic Offender has been defined under the bill as a person who has an arrest warrant issued in respect of a scheduled offence and who leaves or has left India to avoid criminal prosecution, or refuses to return to India to face criminal prosecution. The onus is on authorities to prove that an individual is a fugitive economic offender.
At the discretion of any court, such person or any company where he is a promoter or managerial personnel or majority shareholder, may be disentitled from defending any civil claim.
If prior to the declaration, the alleged fugitive economic offender returns to India and submits to the appropriate jurisdictional court, proceedings under this Act would cease by law.
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SEVA App
Ministry of Power, Coal, New and Renewable Energy recently launched Saral Eindhan Vitaran Application (SEVA) app for power consumers.
It has been developed indigenously by Coal India Limited.
SEVA is a part of ‘Digital India’ initiative, which is aimed at increasing the Consumer Connect as well as the transparency and accountability in coal dispatch.
It would initially cover only those coal mines that are associated with power generation. In later stages non-power coal mines would also be added to it.
It would work with SEVA Dashboard which provides summary of quantity of coal dispatched along with grades for a day, month, and the latest yearly updates as well.
The app also provides information on rake movement including latest status of indents of rake, allotment and loading. This would help consumers making advance logistics planning.
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SHAKTI Policy
Scheme to Harness and Allocate Koyla Transparently in India (SHAKTI). It aims to auction long term coal linkages to power companies.
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Bhartiya Nirdeshak Dravya (BND4201)
Recently India developed Bhartiya Nirdeshak Dravya (BND4201) which is a gold bar, weighing 20 grams, to verify the purity of gold sold in India.
In 2016, India Government Mint (IGM), a unit of Security Printing and Minting Corp of India Ltd, signed an agreement with the Bhabha Atomic Research Centre (BARC) and CSIR-National Physical Laboratory (NPL) to develop the first gold standard.
While the bars will be made by the IGM, technical aspects such as measurement would be done by the BARC and certifying the purity of the bars would be the responsibility of the NPL.
NPL is the repository of standard units — such as the kilogram, the second, the centimetre — in India and provides calibration services.
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Gold Exchange in India
Indian Government would be creating a local physical spot-gold exchange with the help of World Gold Council (WGC).
A gold spot exchange in India could be a national channel to buy and sell standardized quality gold in India and to create a national pricing structure of gold.
The exchange could provide quality storage facilities and facilitate the financing of gold inventory at internationally competitive rates.
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World Gold Council
It is a market development organization for the gold industry.
It is headquartered in United Kingdom.
Its aim is to stimulate and sustain demand for gold, provide industry leadership and be the global authority on the gold market.
It also helps countries develop gold standards and hallmarks for gold.
It has 22 members which are various gold mining companies.
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Think20 Task Force
Germany recently convened the first-ever G20 “digital ministers” meeting and as a result a T20 task force (Think20 Task Force) was set up.
It comprises of think tanks and academia (Observer Research Foundation of India is in this force) that will offer recommendations to strengthen digital economies and manage the “digitalization” of traditional sectors.
It would help articulate rules of economic operation for businesses, governments and users transacting on the Internet.
The focus of the group would be on- Affordable and inclusive Cyber security.
Balancing the automation and its effects like loss of employment.
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Phased Manufacturing Programme (PMP)
Government has recently notified Phased Manufacturing Programme (PMP) for promoting the growth of domestic manufacturing of Cellular mobile handsets.
This would be a programme under Ministry of Electronics and Information Technology (MieTY).
The overall aim of the scheme is to impose duties (differential duty regime) and give tax reliefs and incentives on select products involved in the manufacturing of cellular handsets.
It is called a phased manufacturing programme because it will give fiscal benefits to domestic manufacturing of the various components of cellular handsets in different fiscals.
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e-Krishi Samvad
It is an online interface through which farmers and other stakeholders can directly approach ICAR (Indian Council of Agricultural Research) with their problems for effective solutions.
Stakeholders can also upload photographs of crop diseases, animals or fishes for diagnostics and remedial measures instantly from the specialists.
Appropriate solutions from specialists will be provided via SMS.
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Technical Review Committee (TRC)
A Technical Review Committee (TRC) has been constituted for the first time by the CSO in order to review the indexes and recommend appropriate methodological interventions in line with changing economic structure of the country. The TRC is to be chaired by Secretary, DIPP. It shall meet once a year.
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new WPI
base year- 2011-12 from 2004-05 by DIPP.
WPI is used as a deflator for many sectors such as for estimating GDP by CSO as well as for calculating IIP.
Apart from the WPI base year, its basket of goods and their weightage have also been overhauled. 199 new items have been added and 146 items have been dropped in line with the changing demand in the country.
Taxes have been left out of WPI in order to remove the impact of fiscal policy.
The WPI will now be calculated based geometric mean rather than the earlier of arithmetic mean. CPI
is calculated on geometric mean.
118
Sector Skill Councils
Sector Skill Councils (SSCs) are industry led and industry governed bodies which have been mandated to ensure that skill development efforts being made by all the stake holders are in accordance with the actual needs of the industry.
They develop National Occupational Standards/Competency Standards and Qualification Packs (QPs).
They have two basic objectives – providing skills and employment.
National Skill Development Corporation (NSDC) has approved formation of various SSCs in different Sectors.
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Technology and Innovation Support Centres
The Department of Industrial Policy and Promotion (DIPP) and World Intellectual Property Organisation (WIPO) have joined hands to set up Technology and Innovation Support Centres (TISC).
TISC programme provides innovators in developing countries access to locally based, high quality technology information and related services, helping
them exploit their innovative potential and to create, protect, and manage their intellectual property (IP) rights.
The Cell for IPR Promotion and Management (CIPAM), under the Ministry of Commerce & Industry, has been designated as the national focal point for the TISC network.
It shall identify potential host institutions, assess their capacities and support them in joining the TISC project.
120
Nuclear Power Corporation of India Ltd (NPCIL)
It is a Public Sector Enterprise under the Department of Atomic Energy
It is registered as a Public Limited Company under the Companies Act
Its main objectives are operating atomic power plants and implementing atomic power projects for generation of electricity
It also has equity participation in BHAVINI, another PSU of Department of Atomic Energy (DAE) which implements Fast Breeder Reactors programme.
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Why India chose Pressurized Heavy Water Reactors (PHWRs)?
Availability of fuel - guaranteed as India has put most it’s PHWRs under IAEA safeguards.
No need of establishing expensive enrichment facility as it uses natural uranium as fuel.
Availability of indigenous technology, expertise and resources.
More energy efficient than comparable Light Water Reactor.
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Gobardhan (Galvanising Organic Bio-Agro Resources
| Dhan) Yojana
launched by the Haryana Government.
It would be implemented under Swacch Bharat Mission-Gramin with twin objectives - To make villages clean and generate wealth and energy from cattle and other waste.
It would focus on managing and converting cattle dung and solid waste in farms to compost, biogas and bio-CNG.
An online trading platform will also be created to connect farmers with buyers so that they can get the right price for cow dung and agricultural waste.
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Prime Minister's Employment Generation Programme (PMEGP)
It is a major credit-linked subsidy programme being implemented by the Ministry of MSME since 2008-09 by merging the two schemes, namely Prime Minister's Rojgar Yojana (PMRY) and Rural Employment Generation Programme.
It is aimed at generating self-employment opportunities through establishment of micro-enterprises in the non-farm sector by helping traditional artisans and unemployed youth in rural as well as urban areas.
The Khadi and Village Industries Commission (KVIC) is the nodal implementation agency for the PMEGP at the national level. At the state/district level, state offices of KVIC, Khadi and Village Industries Boards (KVIBs) and District Industry Centres (DIC) are the implementing agencies.
Changes made in scheme:
A second loan of up to Rs 1 crore to existing and better-performing PMEGP units for upgrading with subsidy of 15%.
Merger of Coir Udyami Yojana
Introduction of concurrent monitoring and evaluation
Mandatory Aadhaar and Pan card and Geo-tagging of units.
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Kisan Urja Suraksha evam Utthaan Mahaabhiyan (KUSUM)
It aims to incentivise farmers to run solar farm water pumps and use barren land for generating solar power to have extra income.
For this, discoms would be given 50 paise per unit as generation based incentives to buy power from farmers for five years.
The government will provide subsidy to farmers for buying 17.5 lakh off grid solar farm pumps. The Centre and the states will provide 30% subsidy each on solar pumps. Another 30% will be met through loans while 10% of the cost will be borne by the farmer.
125
Better Regulatory Advisory Group
The Better Regulatory Advisory Group has been convened under the Department of Industrial Policy and Promotion to look into the issues of regulatory processes for fast tracking of investments, both from the domestic and the foreign companies.
Six sub-groups have been formed to identify regulatory bottlenecks and suggest best practices followed world over.
The sub-group would look into areas of: Income Tax, Goods and Services Tax, Corporate Laws, Financial Securities Law, Regulatory Impact Assessment and MSMEs.
It would help in promoting ease of doing business in the country.
126
Champion Sectors
The Group of Secretaries in their recommendations to the Prime Minister, had identified ten Champion Sectors, including seven (7) manufacturing related sectors and three (3) services sectors, for promoting their development and achieving their potential
It was subsequently decided that Department of Industrial Policy and Promotion (DIPP), the nodal department for 'Make in India', would spearhead the initiative for the Champion Sectors in manufacturing and Department of Commerce would coordinate the proposed initiative for the Champion Sectors in Services.
Accordingly, Department of Commerce coordinated the preparation of draft initial sectoral reform plans for several services sectors and, subsequently the action plan.
The respective line Ministries/Departments shall finalize the Action Plans and the implementation timelines along with a monitoring mechanism to monitor implementation under the overall guidance of the Committee of Secretaries (CoS) under Cabinet Secretary.
A dedicated fund of Rs. 5000 crores has been proposed to be established to support initiatives for sectoral Action Plans of the Champion Sectors.
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Centralized Communication Scheme 2018
It is aimed at eliminating the physical interface between taxpayers and the income tax department.
It will facilitate electronic issuance of notices to taxpayers, requiring them to furnish information or documents for the purpose of verification in a prescribed format.
No person shall be required to appear personally or through authorized representative before the designated authority in connection with any proceedings.
It will also set up call centres to address taxpayer queries and a grievance redressal system.
128
Financial Intelligence Unit – India
Financial Intelligence Unit – India was set by the Government in 2004 to provide quality financial intelligence for safeguarding the financial system from the abuses of money laundering, terrorism financing and other economic offences.
It is an independent body reporting directly to the Economic Intelligence Council (EIC) headed by the Finance Minister.
It is a multidisciplinary body with members from various government departments including Central Board of Direct Taxes (CBDT), Central Board of Excise and Customs (CBEC), Reserve Bank of India (RBI), Securities Exchange Board of India (SEBI), Department of Legal Affairs and Intelligence agencies.
129
SWIFT (Society for World Interbank Financial Telecommunication System platform)
promoted in 1973 by banks globally, is used to transmit messages relating to cross border financial transactions. SWIFT enables secure, seamless and automated financial communication between users.
On receiving message through SWIFT, banks abroad (mostly branches of Indian banks) especially in the case of Indian firms provide funds to them.
This credit which is against import documents is normally for 90 days and this facility is used regularly especially by companies which are in the business of gold, gems and jewellery.
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Core Banking Solution (CBS)
It is a back-end system that processes daily banking transactions and posts updates to accounts and other financial records.
It allows customers to manage their accounts and use various banking facilities from any part of the world. In simple term, there is no need to visit your own branch to do banking transactions.
e-Kuber is the CBS of Reserve Bank of India. It provides the provision of a single current account for each bank across the country, with decentralised access to this account from anywhere-anytime using portal based services in a safe manner.
131
Debt Recovery Tribunal
act as Adjudicating Authority and deal with the cases related to insolvency, liquidation and bankruptcy process in respect of individuals and unlimited partnership firms.
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National Company Law Tribunal
act as Adjudicating Authority and deal with the cases related to insolvency, liquidation and bankruptcy process in respect of companies and limited liabilities entities respectively.
133
CRILC (Central Repository of Information on Large Credits)
is responsible for collecting, storing and disseminating credit data to banks on credit exposures of Rs. 5 crore and above.
134
Dry ports
They are inland terminal, directly connected to a seaport by rail or road, which provides similar services as that of a seaport such as handling, temporary storage, inspection and customs clearance for international freight etc.
They are known to improve logistics, supply chain and reduce capacity constraints faced by sea ports
135
National Productivity Council
It is an autonomous organization under the administrative control of the Department of Industrial Policy and Promotion to promote productivity culture in India.
Established as a registered society in 1958 by the Government of India, it is a tri- partite non-profit organization with equal representation from the government, employers and workers’ organizations, apart from technical and professional institutions
including members from local productivity councils and chamber of commerce on its Governing Body.
It provides training, consultancy and undertaking research in the area of productivity.
It carries out the programmes of the Tokyo based
Asian Productivity Organization (APO), an inter-governmental body of which the Government of India is a founder member.
It has been appointed as one of the National Monitoring and Implementation Unit (NMIU) for the implementation of Lean Manufacturing Competitiveness Scheme under National Manufacturing Competitiveness programme.
136
CriSidEx
India’s first sentiment index, launched for micro and small enterprises (MSEs).
CriSidEx is a composite index, developed jointly by CRISIL & SIDBI, based on a diffusion index of 8 parameters and measures MSE business sentiment on a scale of 0 (extremely negative) to 200 (extremely positive).
137
The IEA (International Energy Agency)
Founded in 1974 to help countries collectively respond to oil supply disruptions.
It is an autonomous body within the OECD framework. Membership is made up of 30 member countries (India is not a member).
It publishes the World Energy Outlook (WEO).
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Farmer producer Companies (FPC)
It is a hybrid between cooperative societies and private limited companies which provides for sharing of profits/benefits among the members.
The important features include:
o It is formed by a group of producers for either farm or non-farm activities;
o It is a registered body and a legal entity (under Companies Act, 1956);
o Producers are shareholders in the organization;
o It deals with business activities related to the primary produce/product;
o A part of the profit is shared amongst the producers and rest of the surplus is added to its owned funds for business expansion.
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LOGISTICS HUB IN ASSAM
The plan is to link Jogighopa with road, rail, waterways and air transport facilities along with container terminals, warehousing, non-cargo processing, a truck terminal, common facilities, support infrastructure and equipment.
A special purpose vehicle, backed by the Asian Development Bank (ADB), will be created to execute the project.
