PIB Analysis : 31st June 2020

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PIB Analysis for UPSC CSE

Topics Covered

  1. Special Liquidity Scheme for NBFCs and HFCs
  2. Udyam Registration Portal
  3. Power Finance Corporation (PFC)
  4. Accelerate Vigyan (AV)
  5. Facts for Prelims

1 . Special Liquidity Scheme for NBFCs and HFCs

Context : With a view to improving the liquidity position of NBFCs as well as HFCs, the Union Minister for Finance & Corporate Affairs Smt Nirmala Sitharamanhad announced on 13th March 2020, launch of a Special Liquidity Scheme of Rs. 30,000 crore.

About the Scheme

  • RBI will provide funds for the Scheme by subscribing to government guaranteed special securities issued by the Trust.
  • The total amount of such securities issued outstanding shall not exceed Rs. 30,000 crores at any point of time. 
  • Government of India will provide an unconditional and irrevocable guarantee to the special securities issued by the Trust.
  • The Scheme is being launched on July 1, 2020through a Special Purpose Vehiclein the form of SLS Trust set up by SBI Capital Markets Limited (SBICAP).
  • The Scheme will remain open for 3 months for making subscriptions by the Trust.
  • The period of lending (CPs/NCDs of NBFCs/HFCs for short duration of upto 90 days) by the Trust shall be for a period of upto 90 days.
  • The financing would be used by the NFBCs/HFCs only to repay existing liabilities and not to expand assets. Further, those market participants who are looking to exit their standard investments with a residual maturity of 90 days may also approach the SLS Trust.
  • This facility is a part of the Government of India and RBI’s efforts to alleviate the concerns of the market participants on the availability of fundsto the sector.

Eligibility

  • Any NBFC including Microfinance Institutions registered with RBI under the Reserve Bank of India Act, 1934 (excluding those registered as Core Investment Companies) and any HFC registered with the National Housing Bank (NHB) under the National Housing Bank Act, 1987which is complying with the following broad conditions will be eligible to raise funding from the said facility:
    • Compliance with RBI regulations on Capital adequacy
    • Net NPA is less than 6% as on 31.03.2019
    • Net profit in at least one of the two preceding financial years
    • Rated as investment grade by a rating agency
    • Is not reported under SMA-1 or SMA-2 category by any bank for their borrowing during the period one year prior to 01.08.2018

2 . Udyam Registration Portal

Context : Udyam Registration Portal developed by Ministry of Micro, Small and Medium Enterprises has become operational

About Udyam Registration

  • A new process of classification and registration of MSMEs is starting from 1st July 2020.
  • An enterprise for this purpose will be known as Udyam and its Registration Process will be known as ‘Udyam Registration’.
  • The MSME Ministry has launched a new portal for this purpose.

Details of Udyam Portal

  • MSME registration process is fully online, paperless and based on self-declaration. No documents or proof are required to be uploaded for registering an MSME.
  • The user will need to provide their 12-digit biometric Aadhaar number for the registration process.
  • A registration number will be given after completion of the entire process and an Udyam Registration Certificate will be issued.
  • The Udyam Registration Certificate will have a dynamic QR Code from which the web page on the Portal and details about the enterprise can be accessed. There will be no need for renewal of the registration.
  • The PAN & GST linked details on investment and turnover of enterprises will be taken automatically from the respective Government databases.
  • No enterprise will be allowed to file more than one Udyam Registration. Any number of activities including manufacturing or service or both may be specified or added under one Registration.
  • The registration process will be completely free of cost.

3 . Power Finance Corporation

About Power Finance Corporation

  • Incorporated on July 16th, 1986, Power Finance Corporation Ltd. is a Schedule-A Navratna CPSE, and is a leading Non-Banking Financial Corporation in the Country.
  • PFC is under the administrative control of the Ministry of Power. PFC was conferred the title of a ‘Navratna CPSE’ in June,2007, and was classified as an Infrastructure Finance Company by the RBI on 28th July,2010.
  • PFC plays a crucial role in the rise of India as a global player. Increasingly, a country’s development is gauged by measuring its energy usage. With a large fraction of our nation still, unfortunately, without any access to electricity, PFC will become an increasingly important factor in the years to come.

4 . Accelerate Vigyan (AV)

About Accelerate Vigyan

  • To provide a single platform for research internships, capacity building programs, and workshops across the country, the Science and Engineering Research Board (SERB) has launched a new scheme called ‘Accelerate Vigyan’ (AV). You can get more information on this scheme from its web portal www.acceleratevigyan.gov.in.
  • Straight off the block, AV has already called for applications under its ‘ABHYAAS’ component for the Winter Season.
  • The primary objective of this inter-ministerial scheme is to give more thrust on encouraging high-end scientific research and preparing scientific manpower, which can lead to research careers and knowledge-based economy.
  • Recognizing that all research has its base as development of quality and well-trained researchers, AV will initiate and strengthen mechanisms of identifying research potential, mentoring, training and hands-on workshop on a national scale.
  • The vision is to expand the research base, with three broad goals, namely, consolidation / aggregation of all scientific programs, initiating high-end orientation workshops, and creating opportunities for research internships for those who do not have access to such resources / facilities

Abyaas

  •  As for the ‘ABHYAAS’ programme, it is an attempt to boost research and development in the country by enabling and grooming potential PG/PhD students by means of developing their research skills in selected areas across different disciplines or fields.
  • It has two components: High-End Workshops (‘KARYASHALA’) and Research Internships (‘VRITIKA’).
  • This is especially important for those researchers who have limited opportunities to access such learning capacities / facilities / infrastructure. The current call for applications invites researchers for the winter season (Dec 2020-Jan 2021) ‘KARYASHALA’ and ‘VRITIKA’

SAMMOHAN

  • Another new component under AV is ‘SAMMOHAN’ that has been sub-divided into ‘SAYONJIKA’ and ‘SANGOSHTI’. SAYONJIKA is an open-ended program to catalogue the capacity building activities in science and technology supported by all government funding agencies in the country. SANGOSHTI is a pre-existing program of SERB.

5 . Facts for Prelims

Sahiyas

  • The ASHAs in Jharkhand, known as “Sahiyas”, have been supporting delivery of health care services to the last mile, especially in the tribal areas.
  • The State has about 42,000 Sahiyas, supported by 2260 Sahiya Sathis (ASHA facilitators), 582 block trainers, 24 district community mobilizers and a State level community processes resource centre.
  • Since the launch of the programme, the Sahiyas have been widely acknowledged for their commitment and agency in enabling access to health care, even in the hard to reach and remote tribal areas.

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