PIB Summary and Analysis for RBI Grade B, NABARD Grade A : 24th Aug 2021

Daily PIB Summary & Analysis for RBI Grade B 2022, NABARD Grade A 2021, and SEBI Grade A Exam. In this Article we will discuss Press Information Bureau (PIB) Programs and their Summary for RBI Grade B Economics and Social Issue Section.

Press Information Bureau (PIB) releases news related to the policies, programmes, initiatives and achievements of the Government of India. PIB releases are important to be read for the RBI Grade B Exam however, equally important is to know which PIB release should be read.

The Press Information Bureau (PIB) is the nodal agency of the government of India to broadcast and publicize information on government policies, initiatives, achievements and working of every ministry and department within the government through its official website using various articles, images and photographs

Around 129.03 Lakh farmers benefitted from Kharif Marketing Season procurement

Paddy procurement 

• It has reached at an all-time high level, surpassing previous high of 773.45 LMT in KMS 2019-20.

• About 129.03 Lakh farmers have already been benefitted from the ongoing KMS procurement Operations with MSP value of Rs. 1,64,951.77 Crore.

Paddy procurement in the ongoing season Kharif 2020-21 is continuing smoothly in the procuring States with purchase of 873.68 LMTs of paddy  (includes Kharif Crop 707.69 LMT and Rabi Crop 165.99 LMT) upto 23.08.2021 against the last year corresponding purchase of 763.01 LMT.

Marketing Season RMS 2021-22 

It has concluded in wheat procuring States and till now (upto 18.08.2021) a quantity of 433.44 LMT of Wheat has been procured (which is all time high, as it has exceeded previous high 389.93 LMT of RMS 2020-21) against the last year corresponding purchase of 389.93 LMT.

About 49.20 Lakh farmers have already been benefitted from the ongoing RMS procurement operations with MSP value of Rs. 85603.57Crore.

Pulse and Oilseeds

Further, based on the proposal from the States, approval was accorded for procurement of 109.58 LMT of Pulse and Oilseeds of Kharif Marketing Season 2020-21 & Rabi Marketing Season 2021 and Summer season 2021  for the States of Tamil Nadu, Karnataka, Maharashtra, Telangana, Gujarat, Haryana, Madhya Pradesh, Uttar Pradesh, Odisha, Rajasthan and Andhra Pradesh under Price Support Scheme (PSS)

The sanction for procurement of 1.74 LMT of Copra (the perennial crop) for the States of Andhra Pradesh, Karnataka, Tamil Nadu and Kerala was also given

Upto 23.08.2021 the Government through its Nodal Agencies has procured 11,91,926.47 MT of Moong, Urad, Tur, Gram, Masoor, Groundnut Pods, Sunflower seed,  Mustard Seedand Soyabean having MSP value of Rs. 6,686.59 Crores benefitting  6,96,803 farmers in Tamil Nadu, Karnataka, Andhra Pradesh, Madhya Pradesh, Maharashtra, Gujarat, Uttar Pradesh, Telangana, Haryana, Odisha and Rajasthan under Kharif 2020-21 and Rabi 2021 and Summer 2021

Northern Coalfields Ltd (NCL), a Coal India Ltd subsidiary has become the first PSU in the country, which has got all its employees and their family members vaccinated against  Covid-19.

India’s exports to ASEAN estimated at US$ 46 billion in FY22: Ms Anupriya Patel

• Ms. Anupriya Patel today inaugurated the “India-ASEAN Engineering Partnership Summit” organised by Engineering Exports Promotion Council (EEPC) with the support from Ministry of External Affairs and Department of Commerce.

• ASEAN will be an important region for India with an export target of US$ 46 billion in meeting the global export target of US$ 400 billion in financial year 2021-22.

• The Government of Tamil Nadu joined the event as “Partner State” while Government of Haryana as “Focus State”.

• This year is special for both partners as it marks the 25thanniversary of India-ASEAN dialogue partnership and 10 years of the Strategic Partnership.

Government cautions stakeholders as 348 companies fail to meet requisite criteria for declaration as Nidhi company

Under section 406 of the Companies Act, 2013 (CA, 2013) and Nidhi Rules, 2014 (as amended), companies incorporated as Nidhi Companies need to apply to the Central Government in form NDH-4 for declaration as a Nidhi Company.

What is a Nidhi Company?

• A nidhi company is a type of company in the Indian non-banking finance sector, recognized under section 406 of the Companies Act, 2013. 
• Their core business is borrowing and lending money between their members. 
• They are also known as Permanent Fund, Benefit Funds, Mutual Benefit Funds and Mutual Benefit Company. 
• They are regulated by Ministry of Corporate Affairs

Government to launch e-Shram portal – National Database on Unorganized Workers (NDUW), on 26th of August.

What is the e-Shram portal?

• The government aims to register 38 crore unorganised workers, such as construction labourers, migrant workforce, street vendors and domestic workers, among others. 
• The workers will be issued an e-Shram card containing a 12 digit unique number, which, going ahead, will help in including them in social security schemes, officials said.

How will the registration for workers happen on the portal?

• The registration of workers on the portal will be coordinated by the Labour Ministry, state governments, trade unions and CSCs
• Following the launch of the portal, workers from the unorganised sector can begin their registration from the same day. 
• A national toll free number — 14434 — will also be launched to assist and address the queries of workers seeking registration on the portal.

First delivery of ammunition from the private sector to Indian Army took place in the form of first batch of Multi-Mode Hand Grenades (MMHG), manufactured by Economic Explosives Limited (EEL) following Transfer of Technology from DRDO

• Grenade manufactured by Economic Explosives Limited Co following Transfer of Technology from a DRDO lab

• Defence exports in last two years cross Rs 17,000 crore

International Trade Financing Services Platform (“ITFS”)

• IFSCA vide circular dated 9th July 2021 issued the framework for setting up of International Trade Financing Services Platform (“ITFS”) at GIFT International Financial Services Centre (IFSC) for providing Trade Financing Services.
• The ITFS would be an electronic platform for facilitating the trade finance requirements of exporters and importers by providing access to multiple financiers.

NITI Aayog and World Resources Institute India Jointly Launch ‘Forum for Decarbonizing Transport’ in India as part of the NDC-Transport Initiative for Asia (NDC-TIA) project on 23August.

• The NDC Transport Initiative for Asia (TIA 2020-2023) is a joint programme of seven organizations that will engage China, India, and Vietnam in promoting a comprehensive approach to decarbonizing transport in their respective countries. 

• The project is part of the International Climate Initiative (IKI). The Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU) support the initiative on the basis of a decision adopted by the German Bundestag

News Source : Multiple PIB Articles

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