{"id":12666,"date":"2021-08-26T00:00:00","date_gmt":"2021-08-26T00:00:00","guid":{"rendered":"https:\/\/www.nextias.com\/current_affairs\/uncategorized\/26-08-2021\/facts-in-news-53\/"},"modified":"2021-08-26T00:00:00","modified_gmt":"2021-08-26T00:00:00","slug":"facts-in-news-53","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/26-08-2021\/facts-in-news-53","title":{"rendered":"Facts in News"},"content":{"rendered":"

Indian Polity\u00a0<\/u><\/strong><\/span><\/span><\/span><\/h2>\n

37th PRAGATI Meeting<\/strong><\/span><\/span><\/span><\/h2>\n

Syllabus: GS 2\/Government Policies & Interventions<\/strong><\/span><\/span><\/span><\/p>\n

In News\u00a0<\/u><\/strong><\/span><\/span><\/span><\/p>\n

    \n
  • Recently, the Prime Minister of India chaired the meeting of the 37th edition of\u00a0 Pro-Active Governance And Timely Implementation (<\/span><\/span><\/span>PRAGATI).<\/strong><\/span><\/span><\/span><\/li>\n<\/ul>\n

    About\u00a0<\/u><\/strong><\/span><\/span><\/span><\/p>\n

      \n
    • It is an information and communications technology( ICT) based multimodal platform aimed at a<\/span><\/span><\/span>ddressing the common man\u2019s grievances <\/strong><\/span><\/span><\/span>and simultaneously <\/span><\/span><\/span>monitoring and reviewing<\/strong><\/span><\/span><\/span> important programmes and projects of the Government of India as well as projects flagged by State Governments.<\/span><\/span><\/span><\/li>\n
    • Launched in\u00a0 2015;<\/strong><\/span><\/span><\/span> designed by- Prime Minister\u2019s Office (PMO) team with the help of the National Informatics Center (NIC).<\/span><\/span><\/span><\/li>\n
    • Features:<\/strong><\/span><\/span><\/span><\/li>\n<\/ul>\n
        \n
      • Multi-purpose and multi-modal platform<\/span><\/span><\/span><\/li>\n
      • Unique integrating and interactive platform<\/span><\/span><\/span><\/li>\n
      • This platform will fulfil three objectives: Grievance Redressal, Programme Implementation and Project Monitoring.\u00a0<\/span><\/span><\/span><\/li>\n
      • It uniquely bundles three latest technologies: Digital data management, video-conferencing and geo-spatial technology.<\/span><\/span><\/span><\/li>\n<\/ul>\n
          \n
        • Significance:<\/strong><\/span><\/span><\/span>\n
            \n
          • It will make the government more efficient and responsive.<\/span><\/span><\/span><\/li>\n
          • It is a step in the direction of cooperative federalism since it brings on one stage the Secretaries of Government of India and the Chief Secretaries of the States.<\/span><\/span><\/span><\/li>\n
          • It is also an innovative project in e-governance and good governance.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

            Indian Economy<\/u><\/strong><\/span><\/span><\/span><\/h2>\n

            SAMRIDH Scheme<\/strong><\/span><\/span><\/span> <\/strong><\/span><\/span><\/span><\/h2>\n

            Syllabus: GS 2\/Welfare Schemes<\/strong><\/span><\/span><\/span><\/p>\n

            In News\u00a0<\/u><\/strong><\/span><\/span><\/span><\/p>\n

            Recently, the Ministry of Electronics and Information Technology (MeitY) launched <\/span><\/span><\/span>Startup Accelerators of MeitY for Product Innovation, Development and growth (SAMRIDH)<\/strong><\/span><\/span><\/span> programme<\/span><\/span><\/span><\/p>\n

            About\u00a0<\/u><\/strong><\/span><\/span><\/span><\/p>\n

              \n
            • The SAMRIDH Programme will focus on <\/span><\/span><\/span>accelerating the 300 start-ups<\/strong><\/span><\/span><\/span> by providing<\/span><\/span><\/span> customer connect, investor, connect, and international immersion<\/strong><\/span><\/span><\/span> in the next three years.\u00a0<\/span><\/span><\/span>\n
                \n
              • Also, an investment of up to ? 40 lakh to the start-up based on the current valuation and growth stage of the Start-Up will be provided through selected accelerators.<\/span><\/span><\/span><\/li>\n
              • It will also facilitate equal matching investment by the accelerator\/investor.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n
              • The programme aims to further the Indian start-up growth which has seen the emergence of 63<\/span><\/span><\/span> Unicorns and is<\/strong><\/span><\/span><\/span> now the third-largest Unicorn hub globally with a total valuation of 168 Bn USD.<\/span><\/span><\/span><\/li>\n
              • The programme is being implemented by MeitY Start-up Hub (MSH).<\/span><\/span><\/span><\/li>\n<\/ul>\n

                Significance\u00a0<\/u><\/strong><\/span><\/span><\/span><\/p>\n

                  \n
                • It will create a <\/span><\/span><\/span>conducive platform for Indian Software Product<\/strong><\/span><\/span><\/span> star-ups to enhance their products and <\/span><\/span><\/span>secure investments for scaling their business.\u00a0<\/strong><\/span><\/span><\/span><\/li>\n
                • It will pick up startups that are ready for the acceleration stage and will provide them with <\/span><\/span><\/span>funding support, mentorship and a lot of other support <\/strong><\/span><\/span><\/span>that is required by startups at this stage.\u00a0<\/span><\/span><\/span><\/li>\n<\/ul>\n
                  \n\n\n\n
                  \n

                  Start-ups in India<\/u><\/strong><\/span><\/span><\/span><\/p>\n

                    \n
                  • India is the <\/span><\/span><\/span>world’s third-largest startup ecosystem<\/strong><\/span><\/span><\/span> valued at over $1 billion.<\/span><\/span><\/span><\/li>\n
                  • Leading sectors:<\/strong><\/span><\/span><\/span> Fintech, E-Commerce, Health, Education etc.<\/span><\/span><\/span><\/li>\n<\/ul>\n

                    <\/span><\/span><\/span><\/p>\n

                    Benefits of Startup<\/u><\/strong><\/span><\/span><\/span><\/p>\n

                      \n
                    • Employment generation<\/span><\/span><\/span><\/li>\n
                    • Fostering Research & Innovation<\/span><\/span><\/span><\/li>\n
                    • Increase in FDI\u00a0<\/span><\/span><\/span><\/li>\n
                    • Catering Social needs like in health, education for all etc.<\/span><\/span><\/span><\/li>\n<\/ul>\n

                      <\/span><\/span><\/span><\/p>\n

                      Initiatives<\/u><\/strong><\/span><\/span><\/span><\/p>\n

                        \n
                      • Startup India Seed Fund Scheme (SISFS)<\/span><\/span><\/span><\/li>\n
                      • Startup yatra (Initiative by Startup India Action Plan)<\/span><\/span><\/span><\/li>\n
                      • Make in India Programme (Vocal for Local)<\/span><\/span><\/span><\/li>\n
                      • SOMA Programme (Promote deep tech startups)<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

                        Indian Economy<\/u><\/strong><\/span><\/span><\/span><\/h2>\n

                        NIDHI Companies<\/strong><\/span><\/span><\/span> <\/strong><\/span><\/span><\/span><\/h2>\n

                        Syllabus: GS 3\/Indian Economy & Related Issues<\/u><\/strong><\/span><\/span><\/span><\/p>\n

                          \n
                        • Recently, The Ministry of Corporate Affairs has warned people against parking savings in Nidhi companies, after it found that none of the firms that had applied so far to be <\/span><\/span><\/span>recognised under relevant rules was compliant with the norms.<\/strong><\/span><\/span><\/span><\/li>\n<\/ul>\n

                          About\u00a0<\/u><\/strong><\/span><\/span><\/span><\/p>\n

                            \n
                          • Nidhi Company is a type of <\/span><\/span><\/span>Non-Banking Financial Company (NBFC)<\/strong><\/span><\/span><\/span>.<\/span><\/span><\/span><\/li>\n
                          • It is formed to<\/span><\/span><\/span> borrow and lend money<\/strong><\/span><\/span><\/span> to its members.<\/span><\/span><\/span><\/li>\n
                          • It inculcates the<\/span><\/span><\/span> habit of saving among its members<\/strong><\/span><\/span><\/span> and works on the principle of <\/span><\/span><\/span>mutual benefit.<\/strong><\/span><\/span><\/span><\/li>\n
                          • The <\/span><\/span><\/span>Reserve Bank of India (RBI) <\/strong><\/span><\/span><\/span>keeps regulatory oversight.<\/span><\/span><\/span><\/li>\n
                          • RBI has relaxed norms for Nidhi Companies as compared to other NBFCs and exempted them from the c<\/span><\/span><\/span>ore provisions of the RBI Act<\/strong><\/span><\/span><\/span> because they deal with their shareholder-members only.<\/span><\/span><\/span><\/li>\n
                          • “Sabanayagam Committee” <\/strong><\/span><\/span><\/span>suggested changes in the policies and regulatory framework of Nidhi companies.<\/span><\/span><\/span><\/li>\n
                          • The <\/span><\/span><\/span>Ministry of Corporate Affairs (MCA)<\/strong><\/span><\/span><\/span> has notified new regulations to curb the frauds in Nidhi Companies by <\/span><\/span><\/span>amending the Companies Act, 2013 and the Nidhi Rules, 2014.<\/strong><\/span><\/span><\/span>\n
                              \n
                            • NDH-4 form is to be submitted by firms to get enrolled as Nidhi Companies.<\/span><\/span><\/span><\/li>\n
                            • Investor advisories regarding verification of the antecedents\/status of a Nidhi company before investing have also been issued by MCA.<\/span><\/span><\/span><\/li>\n
                            • Several firms have already been declared unfit as they were non-compliant with the required standard.<\/span><\/span><\/span><\/li>\n<\/ul>\n<\/li>\n
                            • A firm is notified as a Nidhi company by the government under Section 620A of the Companies Act, 1956.<\/span><\/span><\/span><\/li>\n<\/ul>\n

                              \u00a0<\/p>\n

                              Indian Economy<\/u><\/strong><\/span><\/span><\/span><\/p>\n

                              What is Tokenization?<\/strong><\/span><\/span><\/span><\/h2>\n

                              Syllabus: GS3\/Indian Economy & related issues<\/strong><\/span><\/span><\/span><\/p>\n

                                \n
                              • The Reserve Bank of India has decided to extend the <\/span><\/span><\/span>scope of tokenisation to include consumer devices<\/strong><\/span><\/span><\/span> \u2013 laptops, desktops, wearables (wrist watches and bands) and Internet of Things (IoT) devices.<\/span><\/span><\/span><\/li>\n<\/ul>\n

                                Tokenization<\/u><\/strong><\/span><\/span><\/span><\/p>\n

                                  \n
                                • It refers to <\/span><\/span><\/span>replacement of actual card details <\/strong><\/span><\/span><\/span>with an alternate code called the \u201ctoken\u201d, which will be unique for a combination of card, token requestor (the entity which accepts request from the customer for tokenization of a card and passes it on to the card network to issue a corresponding token) and device.\u00a0<\/span><\/span><\/span><\/li>\n
                                • A tokenized card transaction is considered <\/span><\/span><\/span>safer as the actual card details are not shared<\/strong><\/span><\/span><\/span> with the merchant during transaction processing.<\/span><\/span><\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

                                  Indian Polity\u00a0 37th PRAGATI Meeting Syllabus: GS 2\/Government Policies & Interventions In News\u00a0 Recently, the Prime Minister of India chaired the meeting of the 37th edition of\u00a0 Pro-Active Governance And Timely Implementation (PRAGATI). About\u00a0 It is an information and communications technology( ICT) based multimodal platform aimed at addressing the common man\u2019s grievances and simultaneously monitoring […]<\/p>\n","protected":false},"author":1,"featured_media":12667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[76],"class_list":["post-12666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","tag-gs"],"acf":[],"jetpack_featured_media_url":"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2023\/07\/7090247NEXT_IAS_logo.JPG","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/12666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=12666"}],"version-history":[{"count":0,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/12666\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media\/12667"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=12666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=12666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=12666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}