October 31,2018

Quiz,October 29,2018
October 30, 2018
Quiz,October 30,2018
October 31, 2018

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
  4. The Key Initiatives of Government
  5. General Knowledge

Topic 1:Economic development

Financial Stability and Development Council

19thMeeting of the Financial Stability and Development Council (FSDC) was held under the Chairmanship of the Union Finance Minister.

Highlights:

  • To review the current global and domestic economic situation and financial sector performance.
  • The Council decided that the Regulators and the Government would keep a close watch on the developing situation and take all necessary measures.
  • The Council deliberated on the need for identifying and securing critical information infrastructure in financial sector.
  • The Council deliberated on the issues and challenges of Crypto Assets/Currency.

About FSDC:

  • Financial Stability and Development Council (FSDC) is an apex-level body constituted by the government of India.
  • An autonomous body dealing with macro prudential and financial regularities in the entire financial sector of India.
  • The new body envisages to strengthen and institutionalise the mechanism of maintaining financial stability, financial sector development, inter-regulatory coordination along with monitoring macro-prudential regulation of economy.
  • Composition of the council
  1. Chairperson: The Union Finance Minister of India
  2. Members:
  1. Governor Reserve Bank of India (RBl)
  2. Finance Secretary and/ or Secretary, Department of Economic Affairs (DEA),
  3. Secretary, Department of Financial Services (DFS),
  4. Secretary, Ministry of Corporate Affairs,
  5. Chief Economic Advisor, Ministry of Finance,
  6. Chairman, Securities and Exchange Board of India (SEBI),
  7. Chairman, Insurance Regulatory and Development Authority (IRDA),
  8. Chairman, Pension Fund Regulatory and Development Authority (PFRDA),
  9. Chairman, Insolvency and Bankruptcy Board of India (IBBI)

3. Additional Secretary, Ministry of Finance, DEA, will be the Secretary of the Council,

4. The Chairperson may invite any person whose presence is deemed necessary for any of its meeting(s).

Responsibilities:

  • Financial Stability
  • Financial Sector Development
  • Inter-Regulatory Coordination
  • Financial Literacy
  • Financial Inclusion
  • Macro prudential supervision of the economy including the functioning of large financial conglomerates
  • Coordinating India’s international interface with financial sector

Read more at: PIB

Topic 2 : Environment

WHO’s First Global Conference on Air Pollution and Health

The first Global Conference on Air Pollution and Health will be held at WHO Headquarters in Geneva on 30 October – 1 November 2018.

Key Facts:

  • he conference is being held in collaboration with UN Environment, World Meteorological Organization (WMO), the Secretariat of the UN Framework Convention on Climate Change (UNFCCC), the Climate and Clean Air Coalition to Reduce Short-Lived Climate Pollutants (CCAC) and the United Nations Economic Commission for Europe (UNECE).
  • The conference responds to a World Health Assembly mandate to combat one of the world’s most significant causes of premature death, causing some 7 million deaths annually.
  • Air pollution in most cities exceeds recommended WHO Air Quality levels and household air pollution is a leading killer in poor rural and urban homes. Up to 1/3 of deaths from stroke, lung cancer and heart disease are due to air pollution.
  • Affordable strategies exist to reduce key pollution emissions from the transport, energy, agriculture, waste and housing sectors.
  • Health-conscious strategies can reduce climate change and support Sustainable Development Goals for health, energy and cities.

Read more at: WHO

Topic 3 : ICT

IMPRESS scheme

Union HRD Ministry has launched the web portal of IMPRESS scheme with an aim to build a research ecosystem in educational institutions.

The scheme:

  • The objective of Impactful Policy Research in Social Sciences (IMPRESS) is to identify and fund research proposals in social sciences with maximum impact on the governance and society.
  • The Indian Council of Social Science and Research (ICSSR) will be the project implementing agency.
  • Provide an opportunity for social science researchers in any institution in the country which includes all universities (central and state) and also a few private institutions meeting the requirement.
  • It will focus on broad thematic areas such as state and democracy, urban transformation; media, culture and society; employment, skills and rural transformation; governance; innovation and public policy; macro-trade and economic policy and social media and technology.
  • The scheme will be implemented till March, 2021.

Read more at: The Hindu

Topic 4: The Key Initiatives of Government

Cyber swachhta Kendra

  • It is a malware analysis centre aims to create a secure cyber space by detecting botnet infections in India and to notify, enable cleaning and securing systems of end-users to prevent further infections.
  • The systems will be scanned by the Computer Emergency Response Team (CERT-in) for free of all those users who register to the CSK website.
  • This centre will work in coordination with the internet service providers (ISPs) and Industry.
  • This Kendra will also enhance awareness among citizens regarding botnet and malware infection along with measures to be taken to secure their devices.
  • It is part of Digital India initiative

Pradhan Mantri Kisan Sampada Yojana

  • The Cabinet Committee has approved the renaming of SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters) as “Pradhan Mantri Kisan Sampada Yojana.
  • It is the new Central Sector Scheme that aims to supplement agriculture, modernize processing and decrease Agriculture waste.
  • The implementation period of the scheme is 2016-20 coterminous with the 14th Finance Commission cycle.
  • It is a comprehensive package to give a renewed thrust to the food processing sector in the country.
  • The implementation of this scheme will result in creation of modern infrastructure, growth of food processing sector and providing better prices to the farmers.

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