March 16,2019

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The FSDC, set up in 2010, is a body consisting all regulators and the Ministry of Finance. It is the highest forum in matters relating to financial stability. The Council is chaired by the Union Finance Minister. Financial Stability. Financial Sector Development. Macro prudential surveillance of the economy. Financial literacy and financial inclusion. Inter-regulatory coordination. The responsibility of FSDC includes.

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 Topics list:

  1. National and International Issues on
    1. Economic Development
    2. Social Development
    3. Industrial Development
  2. Energy and Environment
    1. Energy
    2. Environment
  3. Information and Communication Technology
    1. Technology
    2. Application
  1. General Knowledge

Topic 1:Economic development

Financial Stability and Development Council (FSDC)

Financial Stability and Development Council (FSDC) meeting was chaired by the Union Finance Minister.

About FSDC:

  • The Financial Stability and Development Council (FSDC) was constituted in December, 2010.
  • The FSDC was set up to strengthen and institutionalise the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development.
  • An apex-level FSDC is not a statutory body.


  • The Council deals, inter-alia, with issues relating to financial stability
  • Financial sector development
  • Inter–regulatory coordination
  • Financial literacy
  • Financial inclusion and
  • Macro prudential supervision of the economy including the functioning of large financial conglomerates.

No funds are separately allocated to the Council for undertaking its activities.

Constitution of FSDC:

  • The Council is chaired by the Union Finance Minister
  • The members are:
  1. Governor, Reserve Bank of India
  2. Finance Secretary and/or Secretary, Department of Economic Affairs
  3. Secretary, Department of Financial Services; Chief Economic Adviser, Ministry of Finance
  4. Chairman, Securities and Exchange Board of India
  5. Chairman, Insurance Regulatory and Development Authority
  6. Chairman, Pension Fund Regulatory and Development Authority
  7. Chairman, Insolvency and Bankruptcy Board (IBBI)
  8. Secretary, Ministry of electronics and information technology (MeitY)

Read more at: The Hindu

Topic 1:Industrial development


Festival of Innovation and Entrepreneurship(FINE) is a unique initiative of the Office of the President of India to recognise, respect and reward grassroots innovations and foster a supportive ecosystem.


  • It was started in 2015.
  • This Festival is a celebration of creativity, innovation and entrepreneurship.
  • It was organised by National Innovation Foundation(NIF) and the Department of Science and Technology, Government of India.


  • It would provide an excellent platform to the innovators for building the linkages with potential stakeholders whose support can improve their prospects in coming years for the larger social good.
  • It promotes lateral learning and linkages among the innovators to enrich the ecosystem for new India.

About National Innovation Foundation:

  • It was established in year 2000, with the assistance of Department of Science and Technology, Government of India.
  • It aims to strengthen the grassroots technological innovations and outstanding traditional knowledge in the country.
  • It has created a huge database of ideas, innovations and traditional knowledge practices from all over the country.

Read more at: PIB

Topic 2 : Environment

Fourth Session of the UN Environment Assembly

The fourth session of the UN Environment Assembly (UNEA-4) took place in Nairobi, Kenya.

Theme of the fourth Session: Innovative Solutions for Environmental Challenges and Sustainable Consumption and Production’.


  • The key features of an innovative culture are creativity, openness and participation.
  • The 2019 UN Environment Assembly will contribute towards a holistic, inclusive, and participatory approach to development that is underpinned by human rights and recognizes the interlinkages and integrated nature of the 2030 Agenda and the Sustainable Development.
  • The 2019 UN Environment Assembly will address the following three focus areas:
  1. Environmental challenges related to poverty and natural resources management, including sustainable food systems, food security and halting biodiversity loss;
  2. Life-cycle approaches to resource efficiency, energy, chemicals and waste management; and
  3. Innovative sustainable business development at a time of rapid technological change.

About the United Nations Environment Assembly:

  • The United Nations Environment Assembly is the world’s highest-level decision-making body on the environment
  • It addresses the critical environmental challenges facing the world today.
  • Understanding these challenges and preserving and rehabilitating our environment is at the heart of the 2030 Agenda for Sustainable Development.
  • The Environment Assembly meets biennially to set priorities for global environmental policies and develop international environmental law.
  • Through its resolutions and calls to action, the Assembly provides leadership and catalyses intergovernmental action on the environment.
  • Decision-making requires broad participation, which is why the Assembly provides an opportunity for all peoples to help design solutions for our planet’s health.

Read more at: UNEnvironment

Topic 2 : Energy

STAR Rating Program

The Ministry of Power, Government of India has expanded its ambitious Standards & Labelling (Star Rating) program for Energy Efficient for Appliances to cover the Microwave Ovens and Washing Machines (with revised parameters) in the country.

About the programme:

  • The Star Labelling Programs has been formulated by the Bureau of Energy Efficiency (BEE) for improving energy efficiency and lowering energy cost of appliances/equipment for the consumers.
  • This program is expected to save over 3.0 Billion Units by 2030. This would be equivalent to Green House Gases (GHG) reduction of 2.4 Million-ton of CO2 by the year 2030 through these initiatives.
  • This Programs will create awareness amongst the domestic consumers to encourage the transition towards energy efficient microwave ovens and Washing machines.
  • The manufacturers will be able to register products online, on a portal developed by BEE.
  • Any model/brand of Washing Machine or a Microwave Oven can avail Star Rating on a scale of 1 to 5 based on test report from National Accreditation Board for Testing and Calibration Laboratories (NABL) or equivalent labs subsequent to scrutiny by BEE.

About Bureau of Energy Efficiency:

  • It is a statutory body under the Ministry of Power, Government of India.
  • It assists in developing policies and strategies with the primary objective of reducing the energy intensity of the Indian economy.
  • BEE coordinates with designated consumers, designated agencies, and other organizations to identify and utilize the existing resources and infrastructure, in performing the functions assigned to it under the Energy Conservation Act, 2001.

About NABL:

  • National Accreditation Board for Testing and Calibration Laboratories(NABL) is a Constituent Board of Quality Council of India.
  • NABL has been established with the objective of providing Government, Industry Associations and Industry in general with a scheme of Conformity Assessment Body’s accreditation which involves third-party assessment of the technical competence of testing including medical and calibration laboratories, proficiency testing providers and reference material producers.
  • Quality Council of India (QCI) as a non-profit autonomous society registered under Societies Registration Act, 1860.
  • The aim of QCI is to establish an accreditation structure in the country and to spread quality movement in India by undertaking a National Quality Campaign.

Read more at: PIB

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