- National and International Issues on
- Economic Development
- Social Development
- Industrial Development
- Energy and Environment
- Information and Communication Technology
Topic 1:Economic development
RBI to inject extra liquidity of ₹1 lakh cr.
The Reserve Bank on Monday said it would inject additional liquidity of ₹1 lakh crore in banks through longer tenor instruments to enable flexibility towards meeting their fund needs.
- This will be in addition to normal Liquidity Adjustment Facility (LAF)
- To conduct additional variable rate repo operations for longer tenors to provide additional liquidity support to banks in March 2018
Liquidity Adjustment Facility:
Liquidity Adjustment Facility (LAF) is the primary instrument of Reserve Bank of India for modulating liquidity and transmitting interest rate signals to the market. It refers to the difference between the two key rates viz. repo rate and reverse repo rate. Informally, Liquidity Adjustment Facility is also known as Liquidity Corridor.
Repo rate, or repurchase rate, is the rate at which RBI lends to banks for short periods. This is done by RBI buying government bonds from banks with an agreement to sell them back at a fixed rate.
Read more at:The Hindu
Topic 1:Social development
Odisha govt. launches ‘Ama Gaon, Ama Bikas’ rural programme
In a new initiative, Chief Minister Naveen Patnaik on Monday launched the ‘Ama Gaon, Ama Bikas’ (Our village, Our development) programme from the State Secretariat to reach out to people in rural areas and involve them in the development process.
- Sanctioned a sum of ₹2 crore for as many as 32 projects in the four panchayats and stressed the need for their early completion.
- Mr. Patnaik will hold such interactions twice a week to discuss with the people at the panchayat level about development of villages and pass orders as necessary.
Read more at: The Hindu
National Policy for Domestic Workers :
Discussion is underway regarding a Policy for Domestic Workers.
- Inclusion of Domestic Workers in the existing legislations
- Registration of Domestic workers.
- Right to form their own associations , trade unions
- Right to have minimum wages, access to social security, protection from abuse, harassment, violence
- Right to enhance their professional skills
- Protection of Domestic Workers from abuse and exploitation
- Domestic Workers to have access to courts, tribunals, etc.
- Establishment of a mechanism for regulation of concerned placement agencies.
Read more at: PIB
Topic 2 : Environment
Death traps for Gir lions
As many as 32 lions died due to “unnatural causes” like falling into wells or being run over by trains in 2016 and 2017 in Gir Wildlife Sanctuary in Gujarat.
- Wells without parapet walls often became death traps for the lions, which fell into them and drowned.
- Incidents of lions getting mowed down by trains or vehicles on the road were often reported from the area.
- Building parapet walls would be built around these wells
- Construction of fences along the railway tracks passing through Amreli district
- Building speed breakers on roads passing through the sanctuary area.
About Gir Wildlife Sanctuary:
Gir Forest National Park is a wildlife sanctuary in Gujarat, western India. It was established to protect Asiatic lions, who frequent the fenced-off Devalia Safari Park, along with leopards and antelopes
Read more at:The Hindu
Topic 2 : Energy
India starts importing LNG from US
After crude oil, India today began importing natural gas from the US, with the first shipment of liquefied natural gas (LNG) under a 20-year deal being flagged off from Louisiana.
- State-owned gas utility GAIL India has contracted 3.5 million tonnes per annum of liquefied natural gas (LNG) from Cheniere Energy’s Sabine Pass liquefaction
- Cheniere’s LNG is based on natural gas sourced from the US market, which provides access to abundant and low-cost gas resources.
GAIL is India’s biggest natural gas transportation and marketing company. It is expanding pipeline network by 4,000 km at an investment of over USD 3 billion to operate over 15,000 km by 2020. GAIL commands 75 per cent market share in gas transmission and has a gas trading share of over 50 per cent in India.
Read more at: ET
RBI’s new NPA norms may hit 50,000 Megawatt power capacity
Power companies fear that two-thirds of private thermal power capacity is at high risk of being declared as non-performing assets (NPA), following the new norms on stressed assets issued by the RBI
- The notification issued by RBI on ‘Resolution of Stressed Assets — Revised Framework’ on February 12, mandated banks to classify even one-day delay in debt servicing as default
- As per the revised framework, projects with interest or principal overdue starting from one day to 30 days will be categorised as ‘special mention accounts category -0’ (SMO-0)
- The resolution plan may involve any actions/plans/reorganisation including, but not limited to, regularisation of the account by payment of all over dues by the borrower entity, sale of the exposures to other entities/investors, change in ownership, or restructuring
- The notification mandates resolution proceedings against stressed accounts to be completed in 180 days.
- Most of private sector thermal assets are severely stressed due to various reasons such as lack of coal supply, lack of long-term power purchase agreements and inordinate delays in regulatory orders and receivables from distribution companies.
- Power plants pay for coal in advance to state-run monopoly Coal India, but it takes them 90-150 days to recover dues from state power distribution companies.
- The move would gradually take all good assets to insolvency proceedings and towards a change in promoters.
Stressed assets = NPAs + Restructured loans + Written off assets
What is an NPA?
A loan whose interest and/or installment of principal have remained ‘overdue ‘ (not paid) for a period of 90 days is considered as Non Performing Assets (NPA).
Read more at: ET
Topic 3 : ICT
Go digital ‘hype’ pushing firms to become efficient, responsive
Companies are facing an “ever-increasing” pressure to be more open, responsive and efficient with more ‘hype’ and emphasis being placed on becoming digital, according to a report on digitalisation by India’s second largest software exporter, Infosys.
- Industries are increasingly being disrupted by new entrants with digital technology at the heart of their business.
- With digital technologies becoming more commonplace in organisations, and more hype and emphasis being placed on ‘becoming digital,’ there is an ever-increasing pressure on organisations to be more responsive, more open, and more efficient.
Read more at: The Hindu