1/18/2016 Mrunal [Current Affairs] Jan-Week1: Economy: Financial inclusion- Deepak Mohanty report, MUDRA, UDAY, Standup India - Mrunal

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FinancialInclusionInitiatives

DeepakMohantyCommitteeonFinancialinclusion

StandUpIndiaScheme

MUDRAgoesunderSIDBI

UDAYschemeforDiscoms

Ministry:Petroleum

Ministry:agro

Ministry:TextileATUFSandDBT

Ministry:Textile0%Effluentnorms

GS3:Economy:Infra,Investment

Misc.Developments

FinancialInclusionInitiativesHerearesomenotabledevelopmentsinIndianeconomy,duringJanuary2015,Week1.

DeepakMohantyCommittee

Vipin

1/18/2016 Mrunal [Current Affairs] Jan-Week1: Economy: Financial inclusion- Deepak Mohanty report, MUDRA, UDAY, Standup India - Mrunal

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DeepakMohantyistheexecutivedirector,RBI

CommitteesPurpose:Mediumtermpathtofinancialinclusion(JulytoDecember2015)

RecommendationsofMohantyCommittee

Agro

MakecropinsurancemandatoryforallagricultureloansforSmallmedium

farmers.

Givesubsidytosuchcropinsurance

Stopinterestsubventiontofarmers.Becauseitsnotreallyhelpingthelower

strataforthefarmers.

Criticism:aninsuranceworksforthefarmerwhenthecropfails,while

subventionhelpsevenundernormalcircumstance.

Sukanya

Shiksha

scheme

Committeeproposedthisdepositschemetolinkeducationwithbankinghabits.

Leadbankineachdistrict,willopentheaccountforeachpoorgirlenrollingin

middleschool

JanDhan

WhileJanDhanYojanaimprovedthefinancialinclusionbutgapsbecauseof

inadequatelastmileservicedelivery,women,Microsmallenterprises,north

eastern,easternandcentralstates.

Weneedtochangeinthebankstraditionalbusinessmodelthroughgreater

relianceonmobiletechnologyforlastmileservicedelivery,giventhe

challengesoftopographyandsecurityissuesinsomeareas.

UseUSSDtechnologytodelivermobilebankingservicestopeoplewithnon

smartphones.

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1/18/2016 Mrunal [Current Affairs] Jan-Week1: Economy: Financial inclusion- Deepak Mohanty report, MUDRA, UDAY, Standup India - Mrunal

http://mrunal.org/2016/01/banking-financial-inclusion-deepak-mohanty.html/print/ 3/6

MSME

Weneedtoreviewedflowofcredittothemicro,smallandmediumenterprises

CreateasystemofuniqueidentificationforallMSMEborrowersandthesharing

ofinformationwithcreditbureaus.

UseCSRfundingtonurtureSHG.

StandUpIndiaSchemebyDepartmentofFinancialServices(DFS)topromoteentrepreneurshipamongSC/STand

Women

2projectsperbankbranchTargetatleast2.5lakhborrowersloanamount10to100lakhforgreenfieldprojectsinnonagriculturesectordurationupto7years

MUDRAgoesunderSIDBIGovernmentdecidesto(1)MUDRAagencywillbeconvertedintoMUDRASIDBIBank.Itll

beawhollyownedsubsidiaryofSIDBI.(2)WillsetupaCreditguaranteefundtohelp

MudrarefinanceloanstoMicroSmalunits.FullformofMUDRAbankisMicroUnits

DevelopmentRefinanceAgency(MUDRA)

Banking,Finance,Foreigntrade:Misc.developments

Printing

mein

Mistake

Indiahastwocompaniesprintingbanknotes.(1)RBIownedBharatiyaReserve

BankNoteMudranPrivateLimited(BRBNMPL)withplantsatMysoreinKarnataka,

andSalboniinWestBengal(2)GovernmentownedSecurityPrintingandMinting

CorporationofIndia(SPMCIL)withplantsatDewas(MP)andNasik.

ThisNasikpresshasprinteddefectiveRs.1000noteswhereinthesecuritythreadismissing.300millionsuchnotesprinted.

Rajanbhaihasgivensterninstructionstofixthismess.

BankingFortransection>2lakh,compulsorytoquotePANcardnumber.Earlierthislimit

wasRs.1lakh

Banking

NegotiableinstrumentsAct1881dealswithchequebouncingcases.Over18lakh

casespending.Earlierthevictimhadtofilecasefromwherechequeissuedbut

itwastimeconsumingtotravelforhim.With2015amendment,hecanfilecase

wherethechequewasdeposited.

Finance

ASBA:ApplicationSupportedbyBlockedAmountfacility.ASBAiscompulsoryfor

allinvestorsapplyingforpublicissues.Underthisfacility,thebidmoneyremains

inapplicantsaccountuntilsharesareallotted.

foreign

trade

SoverignGoldbondissuecomingsoon.Benefits

willbeheldinbooksofRBIordepositoriessonomismanagementcanbeusedasloancolletaraljustlikephysicalgoldnofearofadulterationormakingchargesnoriskandnocostofstorageonmaturityyougetprevailingmarketrate,plusinterestatregularperiod.

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1/18/2016 Mrunal [Current Affairs] Jan-Week1: Economy: Financial inclusion- Deepak Mohanty report, MUDRA, UDAY, Standup India - Mrunal

http://mrunal.org/2016/01/banking-financial-inclusion-deepak-mohanty.html/print/ 4/6

foreign

trade

IndiawantsWTOtoenactatradefacilitationagreement(TFA)inservices.This

willhelpIndianworkersgetmultipleentryvisas,visafreetravelforforeign

touristsandlongtermvisasforbusinesscommunity

Ministry:PetroleumPetroleumMinistry:

5lakhwomendiebecauseofindoorpollutionofwood/gobarstove.By2018,70%willbecoveredundertheLPGnet.Newhelpline(1906)toreportLPGleaks.

fromfirstApril,KerosenesubsidywillbetransferredunderthedirectbenefittransferDBTroute,justliketheLPGsubsidy.

PNGforkitchens,CNGforvehicles.PNGcheaperthanCNG.PetronetLNG:Indiasbiggestgasbiggestgasimporter.IthassigneddealwithQatarsRasGAStoimportgasatlowerprice.

Ministry:agroAgriMinistryNotableschemes/initiatives:

SoilHealthCardandNeemCoatedUreatoreduceureaoveruse,

ParampragatKrishiVikasYojantopromoteorganicfarming.Prime

MinisterKrishiSinchaiYojana(PMKSY)toprovidewatertoeveryfarm.

NationalAgricultureMarketScheme(NAM)launchedtoconnectmandisacrosstheentire

country.

Targetofgiving8.5lakhcroreloanstofarmersthisyear.

Increasedthenumberofextensionworkerposts.

Newcolleges,animalbreedingandresearchcentres.Bluerevolutiontoboostfisheries.

MeraGaonMeraGarav,Mission2050,FarmersFirst,StudentReadyandsomanyother

schemes.

Ministry:TextileATUFSandDBTTextileministrysmeasure:

AmendedTechnologyUpgradationFundScheme(ATUFS)where15percentsubsidy

wouldbegivenoncapitalinvestmentintextilebusiness

PriceDeficiencyPaymentSystem(asanalternativetominimumsupportprice)tocotton

farmers,willbestartedfromMaharashtra.IfCottonpricesfallbelowMSPTextilmin=>

StateGovernment=>FarmerssDBTaccount.Experiment@Arvitaluk,Wardhadistrictof

Maharashtra.

Ministry:Textile0%EffluentnormsUndertheEnvironmentProtectionActof1986

TextileunitsshallestablishZeroLiquidDischargeeffluenttreatmentplant,ifwaste

waterdischargegreaterthan25kilolitresaday.

Fortextileclusterscommonplantsirrespectiveofsizeoftheunit.

Redeploytheeffluentwaterbackintheproductionprocessafterrecycling.

Minimalextractionofgroundwater.

1/18/2016 Mrunal [Current Affairs] Jan-Week1: Economy: Financial inclusion- Deepak Mohanty report, MUDRA, UDAY, Standup India - Mrunal

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Criticismofthisrule

Smallertextileunitswouldntbeabletoaffordthecostlyequipmentfortreatingeffluents

withazeroliquiddischargeapproach.

WellfurtherlooseexportgroundtoBangladeshandVietnam

Technologiesforsuchtreatmentplantsissteamandelectricityintensive,leadingtohigher

greenhousegasemissionsasIndialargelyreliesoncoalforpo

GS3:Economy:Infra,Investment

Infra

VijayKelkarCommitteeonPPPrevivalsaysSwissChallengemodelof

auctioninginfrastructureisnotagoodidea.becauseitsnottransparent,

hasinformationasymmetry,biddersdontgetfreeandequaltreatment.

MoredetailsofSwisschallengemodel,availableunderMainsL5/P2

PowerPoint.

infra

communication

TRAIsays

calldropsincreasingbecausesubscribersrisingbuttheinvestmentnotrisingintelecominfrastructure

consultationpapersarenotopinionpolls.Sojuntaasendingreadymadecutpastetemplateemailreplyonfreebasics,netneutralityetc.willnot

servethepurpose.

infrainvestGovernmentapprovesHybridAnnuitybasedPPPmodelforwastewater

recyclinginNamamiGangeProgramme.

infraroad

HighwayministryawardsZozillaPasstunnelprojecttoaprivatecompany

underDesign,Build,Finance,OperateandTransffer(annuity)basis.This

willimproveconnectivitybetweenJ&KandLehLadakh.

infraurbanSEBIRITESnormsproposed.max.75%begiventoQIB,mustbekeepin

publicdomainfor21days.

UDAYschemeforDiscomsUDAYUjwalDiscomAssuranceYojanabyPowerministry.

FeatureStateGovernmentsvoluntarilytakeover75%ofdebtburdenofelectricitydistributioncompanies(Discom)&helptoreducetheirtransmissionlosses&coalsupply.

Benefit:ifDiscomrunsefficientlythen247powertoeveryone.Sofar15outof29states/UTjoined.

Misc.DevelopmentsDepartmentofHeavyIndustryhas31publicsectorenterprises,amongthem19makinglosses.Sodepartmentwilldocasebycaseassessment,ifcompanyisbeyondsavingjust

likeGothamcityandDelhithenitllbecloseddownandemployeeswillbegivenVRS.

LatestclosingisHMTwatchesandgivingVRStoitsemployees.

AAIsignsMoUwithSinaporeformaintainingtheterminalbuildingofairportsatJaipurandAhmedabad.

Ambani,Adani,GVKboughtcoalminesinabroadinrecentyears.Butnowtheirinvestmentiserodedbecausefallintheglobalpricesofcoal.Ontheotherhand,Indiaset

1/18/2016 Mrunal [Current Affairs] Jan-Week1: Economy: Financial inclusion- Deepak Mohanty report, MUDRA, UDAY, Standup India - Mrunal

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tobecomeWorldslargestcoalproducerby2023.

2012:JusticeMBShahreportonillegalironoremining.2015:governmentliftsbanonmining.Andnowexportdutyreduced.

Commerceministrythinkingtorevisingtheminimumwagesofteaplantationworkers.

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