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
PM chairs 37th PRAGATI Meeting
Prime Minister Shri Narendra Modi today chaired the meeting of the 37th edition of PRAGATI (Pro-Active Governance And Timely Implementation), the ICT based multi-modal platform for Pro-Active Governance and Timely Implementation, involving Centre and State governments.
- It is held once every month on Fourth Wednesday at 3.30 PM and known as PRAGATI Day.
- In the previous 36 PRAGATI meetings, 292 projects having a total cost of 13.78 lakh crore have been reviewed.
About PRAGATI:
It is a platform which enables the Prime Minister to discuss the issues with the concerned Central and State officials with full information and latest visuals of the ground-level situation.
It was launched in 2015 and has been designed by the Prime Minister’s Office (PMO) team with the help of National Informatics Center (NIC).
It is a three-tier system (PMO, Union Government Secretaries, and Chief Secretaries of the States).
The three objectives of PRAGATI are:
- Grievance Redressal
- Programme Implementation
- Project Monitoring
The PRAGATI platform uniquely bundles three latest technologies: Digital data management, video-conferencing and geo-spatial technology.
- It promotes cooperative federalism as it brings on one platform the Secretaries of Government of India and the Chief Secretaries of the States.
Cabinet approves Memorandum of Understanding between Institute of Chartered Accountants of India (ICAI) and Institute of Professional Accountants of Russia (IPAR)
- The MoU between ICAI and IPAR, Russia, is expected to provide an additional impetus to prospects of the ICAI Members to get professional opportunities in Russia in short to long term future
- With MoU, ICAI would be able to help strengthen the partnership with Russia by providing the Export of Services in Accountancy profession.
- The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountants in India.
CCEA approves determination of FRP of sugarcane payable by Sugar Mills for sugar season 2021-22
CCEA chaired by PM Modi has approved Fair and Remunerative Price (FRP) of sugarcane for sugar season 2021-22 (October - September) at Rs. 290/- per quintal for a basic recovery rate of 10%
Where recovery is below 9.5%. Such farmers will get Rs. 275.50 per quintal for sugarcane
In the current sugar season 2020-21, about 2,976 lakh tons of sugarcane of worth Rs. 91,000 cr was purchased by sugar mills, which is at all time high level & is the second highest next to the procurement of paddy crop at MSP.
Background:
The FRP has been determined on the basis of recommendations of Commission for Agricultural Costs and Prices (CACP) and after consultation with State Governments and other stake-holders.
In last 3 sugar seasons 2017-18, 2018-19 & 2019-20, about 6.2 Lakh Metric Tonne (LMT), 38 LMT & 59.60 LMT of sugar has been exported.
- In the current sugar season 2020-21 (Oct – Sept.), against the export target of 60 LMT, contracts of about 70 LMT have been signed & more than 55 LMT has been physically exported from the country, as on 23.8.2021.
In past 3 sugar seasons about Rs. 22,000 crore revenue was generated by sugar mills/ distilleries from sale of ethanol to Oil Marketing Companies (OMCs). In the current sugar season 2020-21, about Rs. 15,000 cr revenue is being generated by sugar mills from sale of ethanol to OMCs at 8.5%
CCEA Approved FDI proposal of Anchorage Infrastructure worth Rs. 15,000 Crore
- The Cabinet Committee on Economic Affairs (CCEA) has approved the FDI proposal for investment of up to ₹15,000 crore in Anchorage Infrastructure Investment Holding Ltd, an India investment holding incorporated specifically for investing in infrastructure and construction development
- CANADA’S Fairfax has set up Anchorage Infra Investment in India. ANCHORAGE will be Fairfax’s flagship investment vehicle in India
- India born billionaire Prem Watsa is the chairman of Fairfax
- Fairfax India has a 54% stake in BIAL, which runs the Kempegowda International Airport in Bengaluru, one of India’s busiest.
AICTE and BPR&D to launch MANTHAN-2021 tomorrow
- Sh. V.S.K. Kaumudi, IPS, Director General, Bureau of Police Research and Development (BPR&D) and Prof. Anil D. Sahasrabudhe, Chairman, All India Council for Technical Education (AICTE) on 26th August 2021 at National Media Centre will be launching MANTHAN 2021.
- Hackathon MANTHAN 2021 is a unique national initiative to identify innovative concepts and technology solutions for addressing the security challenges of the 21st century faced by our intelligence agencies.
Start-up Accelerators of MeitY for pRoduct Innovation, Development and growth (SAMRIDH)” programme launched by MeitY today
- The programme is being implemented by MeitY Start-up Hub (MSH).
- The SAMRIDHI programme will focus on accelerating the 300 start-ups by providing customer connect, investor connect, and international immersion in next three years
- Also, an investment of up to ₹ 40 lakh to the start-up based on current valuation and growth stage of the Start-Up will be provided through selected accelerators.
- The programme aims to further the Indian start-up growth which has seen the emergence of 63 Unicorns is now the third largest Unicorn hub globally with a total valuation of 168 Bn USD.
PSBs record profit of Rs. 31,820 crore in FY21, mark return to profits after 5 years
Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman reviewed the performance of the Public Sector Banks (PSBs) with their Chief Executives in Mumbai today
The review noted that the Government’s 4R strategy of Recognition, Resolution, Recapitalization and Reform as a response to the situation prevailing in 2014 had led to dramatic improvements at PSBs in 2020-21
Impact of 4R approach – Snapshot of Public Sector Banks in 2020-21
- Net profits of Rs. 31,820 crore highest in five years
- Gross NPAs at 9.1% (14.58% - March 2018)
- Net NPA at 3.1% (7.97% - March 2018)
- Provision Coverage Ratio at 84% (62.7% - March 2018)
- 14.04% Capital Adequacy (Prescribed minimum – 10.875%)
- Rs. 58,697 crore raised as debt and equity, of which Rs. 10,543 crore as equity alone
Highlights of Meeting:
Regarding credit outreach, the Finance Minister said that between October 2019 and March 2021, banks had conducted an outreach programme and had distributed Rs 4.94 lakh crore of loans, and exhorted public sector banks to conduct a similar exercise this year as well.
The outperformance of PSBs has continued in the April - June quarter 2021 as well. Overall profits in this quarter have been at Rs 14,012 crore
Faith of markets in PSBs has become stronger with over Rs. 7,800 crore being raised as equity in the first five months of this year, as against Rs. 10,543 crore in all of last year
During the pandemic, PSBs, private banks and NBFCs supported over 1.16 crore borrowers through the Emergency Credit Line Guarantee Scheme (ECLGS) alone. The success of ECLGS led to the Government increasing the ECLGS to Rs. 4.5 lakh crore as part of the announcements made on June 28, 2021.
The MFI scheme, for instance, has already sanctioned almost Rs. 1,000 crore just last week, the “Ubharte Sitare Scheme” was launched for identifying potential Mid sized and Small companies as our new champions in exports.
EASE 4.0 reforms agenda: PSBs to transform into ‘digital-attacker banks’
The fourth edition of the EASE (Enhanced Access and Service Excellence) reforms agenda for PSBs has been unveiled in the backdrop of the amalgamation of 13 PSBs into 5 PSBs being successfully completed over the last two years.
- Focus on North-East: Banks have also been asked to come up with specific schemes for the North-East
- One District One Product: Support to ODOB and Organic Farmers
- 24x7 banking: Under EASE 4.0, the theme of new-age 24x7 banking with resilient technology has been introduced to ensure uninterrupted availability of banking service
Finance Minister Nirmala Sitharaman in 2019 launched eBKray, an online platform to enable online auction of attached assets by banks and at the same time increase the transparency in the auctioning of these assets.
100 days ‘SUJALAM’ Campaign begins
The Ministry of Jal Shakti began ‘SUJALAM’, a ‘100 days campaign’ as part of the ‘Azadi Ka Amrit Mahotsav’ celebrations to create more and more ODF Plus villages by undertaking waste water management at village level particularly through creation of 1 million Soak-pits and also other Grey water management activities
- Furthermore, the campaign would boost the momentum of SBMG phase II activities through community participation and it will increase awareness about ODF-plus activities.
Emission reduction of 28% over 2005 levels, against the target of 35% by 2030 already achieved by India
- India has already achieved emission reduction of 28% over 2005 levels, against the target of 35% by 2030 committed in its NDC (Nationally determined contributions).
- This makes India among one of the few countries globally which has kept to its Paris Climate Change (COP21) commitments along with an exponential increase in renewable energy capacity.
- This was stated by Union Minister of Power and New & Renewable Energy, and President of International Solar Alliance, Shri RK Singh in his keynote address at the ‘INDIA-ISA Energy Transition Dialogue 2021’ organized by ISA & MNRE.
- Presently India stands at 4th position in the world in terms of installed RE capacity 5th in Solar and 4th in Wind energy capacity.
- Govt of India has revised its targets to install 450 GW of renewable energy capacity by 2030 from its existing target of 175 GW by 2022.
News Source : Multiple PIB Articles
Buy Monthly PIB Summary PDF - Buy Here
Buy ARD Programs and Policies - Buy Here
Buy ARD Current, Budget and Data Based MCQs - Buy Here
