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NATIONAL AFFAIRS
NITI Aayog launched 1st SDG Urban Index 2021-22; Shimla Tops
ii.It was launched by Dr Rajiv Kumar, Vice Chairperson, NITI Aayog; and Prof Dr Claudia Warning, Director General, BMZ (Federal Ministry for Economic Cooperation and Development), Germany.
iii.It is a SDG progress monitoring tool at the ULB (Urban Local Body) level.
iv.According to the index, 55 out of 56 urban areas assessed under SDG 2 (Zero hunger) have 25% anaemia prevalence among women aged 15-49 years.
v.During the launch event, a Statement of Intent (SoI) was also signed between NITI Aayog and BMZ to promote cooperation between India and Germany. Under this SoI, “NITI- BMZ Dialogue on Development Cooperation” will be established for periodic bilateral discussions.
About NITI (National Institution for Transforming India) Aayog:
Establishment– 2015
Chairperson– Prime Minister of India (Currently- Narendra Modi)
Headquarters– New Delhi, Delhi
>>Read Full News
Defence Minister Rajnath Singh Approves – Proposal for GSAT-7C Satellite for Air Force and AK-203 Assault Rifle Deal
- DAC accorded Acceptance of Necessity (AoN) for one Capital Acquisition proposal of Indian Air Force for its modernization and operational needs under the category of ‘Make in India’.
- The complete design, development and launching of satellites will be in India and the procurement will enhance the ability of Indian Armed Forces to communicate beyond Line of Sight (LoS) among one another in all circumstances in a secure mode.
Rs 5,000 Crore Deal with Russia: Defence minister gave the final clearance to over Rs 5,000 crore deal with Russia to manufacture 7.5 lakh Russian-designed AK-203 assault rifles in Uttar Pradesh’s Amethi.The deal is expected to be signed by the Russian President Vladimir Putin who will visit India by December 2021.
About Russia:
Capital – Moscow
President – Vladimir Putin
Currency – Russian Rouble
>>Read Full News
India & Indonesia Navy Holds 37th edition of Coordinated Patrol 2021
- This edition of CORPAT between India and Indonesia also witnessed the participation of Maritime Patrol Aircraft from both Nations.
Participants:
i.Indian Naval Ship (INS) Khanjar, an indigenously built Missile Corvette along with Dornier Maritime Patrol Aircraft.
ii.Indonesian Naval Ship KRI Sultan Thaha Syaifuddin (376), a Kapitan Patimura-Class Corvette.
Key Points:
i.This CORPAT between India and Indonesia have been carrying along the International Maritime Boundary Line (IMBL) biannually since 2002, to keep Indian Ocean Region (IOR) safe and secure for commercial shipping, international trade and conduct of legitimate maritime activities.
ii.As part of Government of India’s vision of SAGAR (Security And Growth for All in the Region), Indian Navy has been engaging with the countries in the IOR.
About Indonesia:
Capital– Jakarta
Currency– Indonesian Rupiah
Indian Ambassador to Indonesia– Manoj Kumar Bharti
AIM & Vigyan Prasar Partners to Drive Synergies Between Atal Tinkering Labs & Engage With Science platform
Features of the partnership:
i.Under this collaboration, EWS will onboard all 9200+ ATL-enabled schools and engage their students, teachers and Principals in perennial activities.
ii.To motivate the participants on STEM Content consumption, certificates and incentives will be provided based on the points accumulated from the activities.
iii.This collaboration will play a major role in reviving and updating our education practices to keep up with technological advances.
Atal Tinkering Labs (ATL):
i.ATL is a workspace that allows young minds to work on their ideas and learn skills through hands-on do it yourself mode.
ii.This also enables the children to work with tools and equipment and have a better understanding of STEM (Science, Technology, Engineering and Math) concepts.
iii.AIM has established more than 9200 ATLs in schools across India with an aim to Cultivate One Million children in India as Neoteric Innovators.
Engage With Science(EWS):
i.Engage with Science(EWS) of Vigyan Prasar is a part of the India Science OTT channel project.
ii.At present, the EWS activities are available in Hindi and English.
Aim:
To publicise and popularize STEM video content on India Science (www.indiascience.in), STEM OTT channel.
Brand Ambassador– Sharman Joshi(actor)
About Atal Innovation Mission (AIM):
Atal Innovation Mission (AIM), flagship initiative of NITI Aayog.
Mission Director– Dr Chintan Vaishnav
Headquarters– New Delhi, Delhi
About Vigyan Prasar (VP):
Vigyan Prasar (VP) is an autonomous organization under the Department of Science and Technology (DST), Government of India.
Director– Dr. Nakul Parashar
Established in 1989
EESL Ties up with M/o MSME, UNIDO, GEF to Implement Energy-efficiency Project in MSME Sector
About the project:
Aim:
- To deploy 35 energy efficient technologies, with maximum possibility of replication and potential to improve the energy productivity, in MSME Units.
- To adopt various business models of Energy Servicing Company(ESCO), where the MSME units are expected to pay back the investors from monetized energy savings in a period of time.
Key points:
i.Under this project, 12 MSME clusters from across India including Howrah mixed cluster have been identified, where the energy efficient technologies will be demonstrated.
ii.So far, 4 technologies applicable for the steel re-rolling and foundry industries has been located in the clusters and 3 out of the 4 has been successfully demonstrated and the 1 is under implementation.
Additional info:
i.EESL was one of the earliest ESCOs to take part in India’s energy efficiency market estimated at around Rs 74,000 crores.
ii.At present EESL is running the world’s largest domestic lighting programme.
iii.EESL and IntelliSmart, a joint venture with National Investments and Infrastructure Fund (NIIF), India’ quasi-sovereign wealth fund, has been present in India’s smart meter programme space.
India’s energy efficiency measures:
i.The government aims to expand the use of LED (light-emitting diode) bulbs, around 350 million compact fluorescent lamps (CFL) have been replaced with LED bulbs, India targets to reach 770 million bulbs.
ii.Unnat Jyoti by Affordable LED for All(UJALA) scheme to cut LED bulb prices.
Gram Ujala scheme offering world’s cheapest LED bulbs in rural areas at Rs 10.
Ministry of Civil Aviation & ISB signs MoU to analyze the effect of RCS on Commercial Air Travel
The Ministry of Civil Aviation signed a MoU(Memorandum of Understanding) with the Indian School of Business (ISB) to undertake research to analyze the effect of the Regional Connectivity Scheme (RCS) on commercial air travel in India.
Objective: to analyse the effect of the RCS scheme on commercial air travel infrastructure in the country and in-depth study from a data-driven perspective.
Signatories: The agreement was signed between Usha Padhee,Joint secretary in the Ministry of Civil Aviation and Prof. Milind Sohoni ISB deputy Dean, on the occasion of ‘UDAN Utsav’ celebrated at Jharsuguda in Odisha.
What is in the MoU?
i.MoU is the extension of the socio-economic impact study of the UDAN (Ude Desh Ka Aam Nagrik) scheme conducted by ISB pro-bono basis in 2020. After the success of phase I, now it got further extended
ii.Under this agreement, ISB will conduct an in-depth analysis of RCS and prepare a case study that can be used in academic institutions and administrative training institutions for students of public policy.
MakeMyTrip ties with Ministry of Civil Aviation to promote Regional Air Connectivity through UDAN Scheme
On November 22, 2021 MakeMyTrip partnered with the Ministry of Civil Aviation to promote regional air connectivity through the UDAN scheme.
- The Govt. has identified 21st October as UDAN Day, the day on which the scheme document was first released.
- Under Regional Connectivity Scheme UDAN 4.1 the Civil Aviation Ministry has approved 78 new routes. So far, 766 routes have been sanctioned under the UDAN scheme.
i.MakeMyTrip will now power UDAN flights on the ‘AirSewa portal’ and market them on its platform to promote its services.
About Ministry of Civil Aviation:
Minister- Jyotiraditya M Scindia (Rajya Sabha,Madhya Pradesh)
Minister of State– Vijay Kumar Singh (Ghaziabad, UttarPradesh)
About MakeMyTrip:
Founder & Group Executive Chairman – Deep Kalra
Founded- 2000
Headquarters– Gurugram, Haryana
India & US Relaunches Trade Policy Forum after 4 Years
- The India-US Trade Policy Forum focuses on agriculture, investment, innovation and creativity (intellectual property rights), services, and tariff and non-tariff barriers.
- The last meeting of the TPF was held in 2017.
About United States (US)
President – Joe Biden
Capital – Washington DC
Currency – United States Dollar (USD)
>>Read Full News
PM Modi Inaugurates 1st Global Innovation Summit of Pharmaceutical Sector
Prime Minister(PM) Narendra Modi has inaugurated the 1st Global Innovation Summit of the Pharmaceuticals sector through video conferencing. The two-day Summit was held from 18th November 2021. Dr. Mansukh Mandaviya, Union Minister of Health and Family Welfare, has also participated in the event.
- This aims to bring together key Indian and international stakeholders to discuss and strategize priorities to foster an innovation ecosystem in the pharmaceuticals industry in India.
- The summit had 12 sessions and more than 40 national and international speakers discussing a range of subjects including the regulatory environment, funding for innovation, industry-academia collaboration, and innovation infrastructure.
INTERNATIONAL AFFAIRS
2021 Global Nutrition Report: India Made No Progress on Anaemia & Childhood Wasting
- The 2021 report indicates that India is off course in meeting the other 7 global nutrition targets.
- The report has stated that no country in the world is ‘on course’ to achieve the target for obesity.
About The Global Nutrition Report:
i.The annual Global Nutrition Report is the world’s leading independent assessment of the state of global nutrition.
ii.The report sets out progress towards global nutrition targets and provides a concise data-focused update on the state of diets and nutrition in the world.
>>Read Full News
India & Nepal Signed MoU on Reciprocal Recognition of Covid Vaccination Certificate
India and Nepal have signed a Memorandum of Understanding (MoU) for reciprocal recognition of COVID-19 vaccination certificate to ease the travel of fully vaccinated people of both India and Nepal.
- The MoU between the Health Ministers of India and Nepal was signed by Vinay M Kwatra, Indian Ambassador to Nepal and Dr. Roshan Pokhrel, Secretary, Ministry of health and Population, Government of Nepal at the ministry office, Kathmandu, Nepal.
- This MoU is one of the COVID-19 related cooperation and coordination between India and Nepal.
BANKING & FINANCE
World Bank signs $250 Million Loan to improve Educational Quality in Schools of Andhra Pradesh
Benefits:
- The project will benefit around 40 lakh students (between the age of 6 and 14) in over 45,000 Government schools.
- 10 lakh children (between the age of 3 and 6) enrolled in Anganwadis (Integrated Child Development Centers)
- 1,90,000 teachers along with more than 50,000 Anganwadi workers will be trained to adopt a new competency-based teaching-learning approach.
Focus – The loan amount will be used for Andhra Pradesh’s newly launched Learning Transformation Project (LTP), that targets to improve the standard of Students & Teachers by implementing new pedagogy for Schools & Anganwadi.
Significance:
The Learning project aims to improve foundational learning through short-term in-service training courses for Anganwadi workers and early grade (Grade 1 and 2) teachers and a one-year preschool-level course in 3,500 schools in the tribal blocks.
Signatories:
Government of India – Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance
Government of Andhra Pradesh – Mr Budithi Rajsekhar, Principal Secretary, Department School Education
World Bank – Mr Junaid Ahmad, Country Director, India.
About Learning Transformation Project:
The Project will transform Andhra Pradesh government schools into vibrant institutions by encouraging,
- Professional development of teachers
- Remedial learning courses for children impacted by the COVID-19 pandemic
- Special attention to students from marginalized groups, including children with special needs, scheduled tribes, and girls.
About World Bank
President – David R. Malpass (13th President)
Headquarters – Washington DC , USA
Director (India) – Junaid Ahmad
ADB Funds $300 Million to Improve Primary Health Care in India
The Government of India and Asian Development Bank (ADB) have signed a $300 million loan pact to improve primary health care in urban areas.
- The project will benefit over 256 million across 13 states, including 51 million people from slum areas.
- Rajat Kumar Mishra, Additional Secretary in Department of Economic Affairs, and Takeo Konishi, Country Director of ADB’s India Resident Mission, signed the agreement
Significance:
i.The programme will be implemented in urban areas across 13 states: Andhra Pradesh, Assam, Chhattisgarh, Gujarat, Haryana, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, Telangana, and West Bengal.
ii.The programme is supported by a $2 million technical assistance grant from ADB’s Japan Fund for Poverty Reduction for program implementation, capacity building, innovation, knowledge sharing across the healthcare system.
iii.Delivery and health information systems for primary health care will be upgraded through digital tools, quality assurance mechanisms, and engagement and partnership with the private sector.
Schemes that are benefitted:
i.The programme supports the Government of India’s key health initiatives like, Ayushman Bharat Health and Wellness Centres (AB-HWC) and Pradhan Mantri Atmanirbhar Swasth Bharat Yojana (PM-ASBY) which has been renamed as Pradhan Mantri Ayushman Bharat Health Infrastructure Mission (PM-ABHIM) by expanding availability and access to quality primary health care services particularly for vulnerable populations in urban areas.
ii.Ayushman Bharat programme, launched in 2018, aims to improve access to comprehensive primary health which inturn achieves universal health coverage in India.
About Asian Development Bank (ADB)
President – Masatsugu Asakawa
Established – 19th December 1966
Headquarters – Manila, Philippines
Member – 68 Countries
NPCI Bharat BillPay onboards Tata Power on ClickPay to facilitate Automated Electricity Bill Payments
- Tata Power is the first power company which will provide services on the NBBL ClickPay platform.
What is in the agreement?
i.Through this agreement, ClickPay will enable Tata Power customers to make monthly electricity bill payments.
- Tata Power will generate the ClickPay link and share it with customers, which will redirect them to the payment page comprising payment details.
ii.It is a two- step process, where customers will be able to pay bills without putting the bill amounts.
iii.NPCI Bharat BillPay is the one-stop solution to Billers for low-cost collections and offers 20,000+ billers across multiple banks and non-bank channels.
About Tata Power :
CEO-Praveer Sinha
Headquarters- Mumbai, Maharashtra
Equitas SFB ties up with HDFC Bank to offer Co-Branded Credit Cards
- Through this partnership, Equitas SFB will utilize the HDFC bank’s reach in the credit card market and also to provide its customers a better banking ecosystem.
- HDFC Bank also has over 21 lakh acceptance points, making it among the largest facilitators of cashless payments in the country.
About Credit Cards:
The credit card can be availed in two categories. The first category is the ‘Excite Credit Card’ which offers a credit limit from Rs 25,000 to Rs 2 lakh and the second category is the ‘Elegance Credit Card’ which offers credit of over Rs 2 lakh.
- Both the categories offer valuable rewards programs for all customers.
Key Points:
i.This is a first-of-its-kind partnership for HDFC Bank enabling it to extend its offerings in the cards segment to Equitas SFB customers.
ii.Notably, with over 5.1 crore credit cards, debit cards and prepaid cards, every third rupee spent on cards in India happens on HDFC Bank cards.
About Equitas Small Finance Bank Ltd:
MD & CEO– Vasudevan Pathangi Narasimhan
Headquarter– Chennai, Tamil Nadu
India’s 112 Most Under-Developed Districts became Credit-Worthy: Equifax-Sidbi Report
- This is the 10th edition of the report jointly prepared by Small Industries Development Bank of India (SIDBI) and Equifax.
Key Highlights:
i.Microfinance outstanding in 112 Under-developed districts is Rs 28,737 crore at the end of June compared to Rs 11,175 crore before the launch of the Aspirational district programme in January 2018.
ii.The number of active micro borrowers doubled to 8.1 million by the end of June from 4.2 million before the government intervention.
About Aspirational District Programme:
i.National Institution for Transforming India (NITI) Aayog had identified 112 most under-developed districts across the country for the aspirational district programme launched in January 2018
Aim – To improve the standard of living of the districts, through sustainable development under socio-economic themes.
Themes – Health & nutrition; Education; Agriculture & water resources; Financial inclusion and Skill development and infrastructure.
ii.Nearly 43% of the loans were given by banks along with 13% of loans by Small finance banks and Non-Banking Financial Company – Micro-Finance Institutions (NBFC-MFIs) accounted for 37% of the loans.
About SIDBI
Chairman & Managing Director – Sivasubramanian Ramann
Established – 1990
Headquarters – Lucknow, Uttar Pradesh
About Equifax
CEO – Mark W.Begor
Headquarters – Atlanta, Georgia, United States
ECONOMY & BUSINESS
Goldman Sachs Projected India’s GDP Growth to Increase to 9.8% in FY23
- The GDP had contracted by 7.3 percent (-7.3%) in FY21, whereas the Reserve Bank of India (RBI) expects a 9.5 percent growth in FY22.
- Goldman Sachs expects the headline consumer price inflation to rise to 5.8 percent in 2022 from 5.2 percent in 2021.
- As per Goldman Sachs forecasted, the RBI to begin its policy normalisation, and expected cumulative rate hikes of 0.75 percent in 2022.
- Fitch Rating forecast GDP growth of 8.7 percent in the financial year 2021- 22 (FY22) and 10 percent in FY23.
- Brickwork credit rating has revised the GDP growth forecast for FY22 to a range of 10 to 10.5 percent from its earlier forecast of 9 percent.
About Goldman Sachs:
Chairman and CEO – David M. Solomon
Headquarters – New York, United States
AWARDS & RECOGNITIONS
JPMorgan Chase named world’s most systemically important bank; topped the FSB’s 2021 list of G-SIB 
The 2021 list of G-SIBs was identified by the Financial Stability Board (FSB), in consultation with Basel Committee on Banking Supervision (BCBS) and national authorities.
- The list is made based on the end-2020 data and the updated assessment methodology published by the BCBS in July 2013.
- Previously, JPMorgan Chase had been named the world’s most systemic bank in 2019 and in 2020, it shared the title with HSBC and Citigroup.
- The number of banks identified as G-SIBs is 30.
Highlights of 2021 list of G-SIB:
i.The 30 banks are divided into 4 buckets in order of how systemic, international, interconnected and complex they are. Bucket 5 is empty.
ii.Compared to the 2020 list of G-SIB, the JP Morgan Chase has moved from bucket 3 to bucket 4, which was empty in 2020.
iii.BNP Paribas has moved from bucket 2 to bucket 3 and shares the bucket with Citigroup and HSBC.
iv.Goldman Sachs has also moved up one bucket up (from bucket 1 to bucket 2)
Click here to know more
List of G-SIB:
i.In November 2011 the FSB published an integrated set of policy measures to address the systemic and moral hazard risks associated with Systemically Important Financial Institutions (SIFIs).
ii.In this FSB identified global SIFIs, an initial group of G-SIBs using the methodology developed by the BCBS.
iii.In near term, BCBS will review the implications of developments related to the European
Banking Union for the G-SIB methodology and will also include a targeted review of the
treatment of cross-border exposures within the Banking Union on the G-SIB methodology.
Requirements:
- Higher capital buffer
- Total Loss-Absorbing Capacity (TLAC)
- Resolvability
- Higher supervisory expectations
Allocation into buckets:
The banks are allocated to buckets corresponding to required levels of additional capital buffers.
- Bucket 5, Additional loss absorbency: 3.5%
- Bucket 4, Additional loss absorbency: 2.5%
- Bucket 3, Additional loss absorbency: 2.0%
- Bucket 2, Additional loss absorbency: 1.5%
- Bucket 1, Additional loss absorbency: 1.0%
ACQUISITIONS & MERGERS
CCI Approves FedEx India to Acquire a Minority Stake in Delhivery
- CCI has also approved the acquisition of certain operating assets to the domestic business of FedEx India and TNT India Private Limited (TNT India) by Delhivery.
CCI approves acquisition of stake by Veolia in SUEZ
CCI has approved the acquisition of stakes in French-based utility company SUEZ (S.A) by Veolia Environnement S.A (Veolia), a French transnational company engaged in water management, waste management and energy services.
- CCI has also approved the acquisition of stake in New Suez by Meridiam, Global Infrastructure Management(GIM), LLC, La Caisse des dépôts et consignations(CDC) and CNP Assurances.
About Competition Commission of India (CCI):
Chairperson– Ashok Kumar Gupta
Director General– Dr Atul Verma
Established on 14th October 2003
Headquarters– New Delhi, Delhi
>>Read Full News
SCIENCE & TECHNOLOGY
NASA Launches World’s 1st Planetary Defense Mission ‘DART’ on SpaceX Rocket 
- A Falcon 9 SpaceX rocket has carried the DART spacecraft from Vandenberg Space Force Base in California, United States.
- NASA’s Double Asteroid Redirection Test (DART) will be the first-ever space mission to demonstrate asteroid deflection by kinetic impactor
Goal – To slightly alter the trajectory of Dimorphos, a ‘moonlet’ around 525 feet (160 metres, or two Statues of Liberty) wide that circles a much larger asteroid called Didymos (2,500 feet in diameter). The Didymos-Dimorphos pair orbit the Sun together.
About National Aeronautics and Space Administration (NASA)
Established – 1st October 1958
Headquarters – Washington DC, USA
Administrator – Bill Nelson (14th Administrator)
>>Read Full News
Union Minister Pralhad Joshi inaugurates E-portal for Mineral Exploration in 5th National Conclave on Mines and Minerals
- The first National Conclave on Mines and Minerals was held at Raipur (Chhattisgarh) in 2016.
- The Mines and Minerals (Development and Regulation) Amendment Act, 2015 (MMDR) governs auction and accreditation of mines and minerals in the country.
Highlights of the event:
i.The E-portal- it will simplify the application process for mining blocks exploration and enhance transparency during the auction through the portal.
ii.Mining blocks-The Minister handed over 52 mines blocks to 15 states including two northeast states. These blocks have been approved by the Geological Survey of India(GSI) for minerals mining.
- Out of 14 States that received the mining block reports , Madhya Pradesh received a maximum number of 21 reports, followed by Karnataka and Andhra Pradesh, nine reports each.
iii.Award for 5-Star rated mines-it was initiated in 2016 by the Ministry of Mines. The scheme of ‘Star Rating of Mines’ for awarding the mining lease owners for their efforts and initiatives .
iv.The govt. has allowed participation of private parties in exploration by amending the MMDR Act to increase the pace of exploration and to bring in advanced technology in mineral exploration.
5th National Conclave on Mines & Minerals:
The Ministry of Mines awarded 5 Star Ratings to companies that include Sustainable Mining practices.
i. 2 Iron ore mines of SAIL (Steel Authority of India Ltd) – Kiriburu Iron Ore Mines and Meghahatuburu Iron Ore Mines, where awarded with 5-star rating under Iron Ore category.
ii. National Mineral Development Corporation Ltd. (NMDC), under the Ministry of Steel received a total of nine 5-star ratings for three years for all its operating iron ore mines.
About Ministry of Mines:
Minister– Pralhad Joshi (Dharwad, Karnataka)
Minister of State- Raosaheb Patil Dadarao Danve (Jalna, Maharashtra)
STATE NEWS
TN Signs 59 MoUs for Projects Worth Rs 35,208 crore
- MoUs were exchanged for Rs 485 crore worth projects in aerospace and defence sector and 52 other projects, cumulatively worth Rs 34,723 Crore, includes Data Centres of companies like Adani Enterprises and Larsen and Tourbro.
Key Points about Other MoUs:
i.The Survey of India and the TN government signed a MoU to undertake a pilot project in two villages under the SVAMITVA (Survey of Villages Abadi and Mapping with Improvised Technology in Village Areas) scheme.
ii.Two and three wheeler makers TVS Motor Company signed a MOU with the TN Government for investment in Future Technologies and Electric Vehicle (EV). Under the MoU, the company will invest Rs 1,200 crores in Future Technologies and EVs in the next 4 years.
iii.Larsen & Toubro (L&T) has entered into an agreement with the TN government to establish a data centre at Kanchipuram, TN.
iv.Welspun One Logistics Parks (WOLP), a pan-India integrated fund, development and asset management platform, has signed a MoU with Guidance, the TN Government’s nodal agency, to develop 4-6 industrial and warehousing projects aggregating ~400 acres and 8000 jobs.
About Tamil Nadu:
Governor – Ravindra Narayana Ravi
Bird Sanctuary – Vettangudi birds Sanctuary, Karikili Birds Sanctuary
Festival – Pongal, Thiruvaiyaru Festival, Thaipusam
>>Read Full News
FM Nirmala Sitharaman Launched Tejasvini & Hausala schemes and Shikhar & Shikara Schemes in J&K
The Union Minister of Finance & Corporate Affairs, Nirmala Sitharaman launched two schemes named ‘Tejasvini & Hausala schemes’ for girls under 18-35 years of age to start their businesses and ‘Shikhar & Shikara’ schemes for development of tourism in Jammu and Kashmir (J&K).
The Finance Minister and the Lieutenant Governor Manoj Sinha attended the credit outreach programme,organized by the Banker’s Committee of J&K at General Zorawar Singh Auditorium Complex at the University of Jammu.
Objective: to promote entrepreneurship and boost employment in Jammu and Kashmir.
Highlights:
i.The FM gave the sanction letters to 145 beneficiaries for INR 306 crore of different banks to different credit linked schemes like Pradhan Mantri Employment Generation Programme (PMEGP), MUDRA Scheme, Self-Help Groups (SHGs), Joint-Liability Groups (JLGs) etc.
ii.The FM also laid the foundation stone for ‘Rural Self-employment Training Institutes’ (RSETI) building at Shopian and Baramulla and inaugurated J&K Bank branches of Salal, Bagga and Budhan in Reasi district in J&K.
iii.For FY (Financial Year) 2020-21, the NABARD (National Bank for Agriculture and Rural Development) will increase its commitment under Rural Infrastructure Development Fund (RIDF) from INR 787 crore to INR 1,500 crore for infrastructure development in J&K.
iv.To further accelerate economic growth, banks will also increase their ground level credit in Jammu & Kashmir for the previous year level of Rs. 14,735 crore to Rs. 16,000 crore in current Financial Year.
New schemes launched in J&K:
The FM announced a number of new schemes and initiatives for J&K.
i.Tejasvini & Hausala schemes of J&K Bank
- Tejasvini scheme focuses on providing financial assistance of INR 5 lakh to girls between 18-35 years for starting their business.
ii.Shikhar & Shikara schemes of Punjab National Bank (PNB) & SIDBI Cluster Development Fund (SCDF)
- Shikhar scheme focuses on meeting credit requirements up to INR 2 crore for hotel, tour & tourism industry.
- It will prove credit up to INR 15 lakh for purchase/repair of Shikaras is provided in Kashmir valley.
About Jammu & Kashmir (J&K):
Stadium-Sher-i-Kashmir Stadium ,Maulana Azad memorial Stadium
Capital- Srinagar (Summer), Jammu (Winter)
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Current Affairs Today (AffairsCloud Today)
| S.no | Current Affairs 25 November 2021 |
|---|---|
| 1 | NITI Aayog launched 1st SDG Urban India index 2021-22; Shimla Tops |
| 2 | Defence Minister Rajnath Singh Approves – Proposal for GSAT-7C Satellite for Air Force and AK-203 Assault Rifle Deal |
| 3 | India, Indonesia held 37th edition of Coordinated Patrol 2021 |
| 4 | AIM & Vigyan Prasar Partners to Drive Synergies Between Atal Tinkering Labs & Engage With Science platform |
| 5 | EESL Ties up with M/o MSME, UNIDO, GEF to Implement Energy-efficiency Project in MSME Sector |
| 6 | Ministry of Civil Aviation & ISB signs MoU to analyze the effect of RCS on Commercial Air Travel |
| 7 | India & US Relaunches Trade Policy Forum after 4 Years |
| 8 | PM Modi Inaugurates 1st Global Innovation Summit of Pharmaceutical Sector |
| 9 | 2021 Global Nutrition Report: India Made No Progress on Anaemia & Childhood Wasting |
| 10 | India & Nepal Signed MoU on Reciprocal Recognition of Covid Vaccination Certificate |
| 11 | World Bank signs $250 Million Loan to improve Educational Quality in Schools of Andhra Pradesh |
| 12 | ADB Funds $300 Million to Improve Primary Health Care in India |
| 13 | NPCI Bharat BillPay onboards Tata Power on ClickPay to facilitate Automated Electricity Bill Payments |
| 14 | Equitas Bank ties up with HDFC Bank to offer Co-Branded Credit Cards |
| 15 | India’s 112 Most Under-Developed Districts became Credit-Worthy: Equifax-Sidbi Report |
| 16 | Goldman Sachs Projected India’s GDP Growth to Increase to 9.8% in FY23 |
| 17 | JPMorgan Chase named world’s most systemically important bank; topped the FSB’s 2021 list of G-SIB |
| 18 | CCI Approves FedEx India to Acquire a Minority Stake in Delhivery |
| 19 | NASA Launches World’s 1st Planetary Defense Mission ‘DART’ on SpaceX Rocket |
| 20 | Union Minister Pralhad Joshi inaugurates E-portal for Mineral Exploration in 5th National Conclave on Mines and Minerals |
| 21 | TN Signs 59 MoUs for Projects Worth Rs 35,208 crore |
| 22 | FM Nirmala Sitharaman Launched Tejasvini & Hausala schemes and Shikhar & Shikara Schemes in J&K |
