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PM Swasthya Suraksha 2003 Creation of tertiary healthcare capacity in medical education, research
Yojana and clinical care, in the underserved areas of the country
Phase I- etting up of six institutions in the line of AIIMS; and
upgradation of 13 existing Government medical college institutions.
Phase II- setting up of two more AIIMS-like institutions, one each in
the States of West Bengal and Uttar Pradesh and upgradation of six
medical college institutions
National AIDS Control 1992 To provide cash incentive of Rs. 5000 to pregnant women for first
Programme living child
Pradhan Mantri June A minimum package of antenatal care services is to be provided to the
Surakshit Matritva 2016 beneficiaries on the 9th day of every month at the Pradhan Mantri
Abhiyan Surakshit Matritva Clinics to ensure that every pregnant woman
receives at least one checkup in the 2nd/ 3rd trimester of pregnancy.
‘Vatsalya – Maatri Amrit 2017 It is a National Human Milk Bank and Lactation Counselling Centre at
Kosh’ the Lady Hardinge Medical College
The centre will collect, pasteurize, test and safely store milk donated
by lactating mothers.
The centre will make the collected milk available for infants in need.
LaQshya 2017 To improve quality of care for pregnant women in labour room,
maternity Operation Theatre and Obstetrics Intensive Care Units
(ICUs) and High Dependency Units (HDUs).
Mission Parivar Vikas 2016 To launch immediate, special and accelerated efforts to reach the
replacement level fertility goals of 2.1 by 2025 in 145 districts
Affordable medicine and 2015 To provide affordable life-saving cancer, cardiac drugs and medical
reliable implants for disposables
treatment- AMRIT It is being implemented through mini-ratna PSU HLL Lifecare Ltd (HLL)
scheme
Antara and Chhaya 2017 To expand the basket of contraceptive choices to meet the emerging
Contraceptives needs of couples.
‘Antara’ injectable being effective for three months and the ‘Chayya’
pill for one week
National Deworming 2018 To ensuring high quality healthcare, accessible to every child
initiative
Intensified Mission 08 To Let no child suffer from any vaccine-preventable disease
Indradhanush October To reach each and every child under two years of age and all those
2017 pregnant women who have been left uncovered under the routine
immunisation programme
Kayakalp 2015 It an initiative has been launched to promote cleanliness, hygiene and
infection control practices in public health facilities.
Under this initiative, public healthcare facilities shall be appraised and
such public healthcare facilities that show exemplary performance
meeting standards of protocols of cleanliness, hygiene and infection
control will receive awards and commendation.
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Heritage City 21 January To preserve and revitalise soul of the heritage city to reflect the
Development and 2015 city’s unique character by encouraging aesthetically appealing,
Augmentation Yojana- accessible, informative & secured environment.
HRIDAY
Pradhan Mantri Awas 2015 In-situ Rehabilitation of existing slum dwellers using land as a
Yojana- Urban resource through private participation
National Urban 24th Organizing urban poor in their strong grassroots level institutions,
Livelihoods Mission September, creating opportunities for skill development leading to market-
2013 based employment and helping them to set up self-employment
venture by ensuring easy access to credit.
Providing shelter equipped with essential services to the urban
homeless in a phased manner.
North Eastern Region 21 It is implemented in the capital cities of 5 North Eastern States viz.
Urban Development February Agartala (Tripura), Aizawl (Mizoram), Gangtok (Sikkim), and Kohima
Programme 2016 (Nagaland)
It covers priority urban services viz. (i) Water Supply, (ii) Sewerage
and Sanitation, and (iii) Solid Waste Management
Asian Development Bank is contributing 70% to the financial
assistance.
Paisa – Portal for 2018 It is a centralized electronic platform for processing interest
Affordable Credit & subvention on bank loans to beneficiaries under Deendayal
Interest Subvention Antyodaya Yojana – National Urban Livelihoods Mission (DAY-
Access NULM) Ministry of Skill Development and Entrepreneurship
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Industrial Value 2019 Improving the relevance and efficiency of skills training
Enhancement (STRIVE) provided through Industrial Training Institutes (ITIs) and
apprenticeships.
Udaan Scheme 2015 It is a Special Industry Initiative for Jammu & Kashmir in the
nature of partnership between the corporates of India
and Ministry of Home Affairs and implemented by National Skill
Development Corporation.
The programme aims to provide skills training and enhance the
employability of 40,000 unemployed youth of J&K.
Pradhan Mantri Kaushal 2014 To promote skill development by catalyzing the creation of
Kendra large, quality, for-profit vocational institutions. MSDE intends to
establish visible and aspirational training centres in every
district of the country.
National Skill 15 July 2015 To create convergence across sectors and States in terms of
Development Mission skill training activities.
To achieve the vision of ‘Skilled India’,
Skill India Campaign 15 July 2015 To train over 40 crore people in India in different skills by 2022
It includes various initiatives of the government like "National
Skill Development Mission", "National Policy for Skill
Development and Entrepreneurship, 2015", "Pradhan Mantri
Kaushal Vikas Yojana (PMKVY)" and the "Skill Loan scheme".
Standard Training Operational To motivate the youth of India to acquire a vocational skills and
Assessment and Reward between envisages a monetary reward that will in essence financially
(STAR) Scheme August 2013 help those who wish to acquire a new skill or upgrade their
and September skills to a higher level.
2014.
National Apprenticeship 19th August To provide apprenticeship training to over 50 lakh youngsters
Promotion Scheme 2016 by 2020 in order to create more jobs. It has budgetary outlay of
(NAPS) Rs 10000 crore.
NAPS has replaced Apprentice Protsahan Yojna (APY)
Reimbursement of 25% of prescribed stipend subject to a
maximum of Rs. 1500/- per month per apprentice to all
apprentices to employers.
Sharing of the cost of basic training in respect of fresher
apprentices (who come directly for apprenticeship training
without formal training) limited to Rs. 7500/- per apprentice for
a maximum duration of 500 hours/3 months.
PM-YUVA 2016 To create an enabling ecosystem for Entrepreneurship
Yojana(Pradhan Mantri Development through entrepreneurship education and training
Yuva Udyamita Vikas across the country in select Institutes of Higher Learning
Abhiyan) Industrial Training Centers (ITIs) and Entrepreneurship
Development Centers (EDCs) for over a period of five years
2200 colleges, 300 schools, 500 ITIs and 50 EDC will be enabled
to deliver entrepreneurship education and training to over 7
lakh students.
SHREYAS- Scheme for April 2019 SHREYASis a programme basket comprising the initiatives of
Higher Education Youth three Central Ministries, namely the Ministry of Human
in Apprenticeship and Resource Development, Ministry of Skill Development &
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MINISTRY OF POWER
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MINISTRY OF FINANCE
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MINISTRY OF RAILWAY
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MINISTRY OF COMMUNICATIONS
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MINISTRY OF CULTURE
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ka Aam Naagrik) economic development, job growth and air transport infrastructure
development of all regions and states of India.
MINISTRY OF TOURISM
MINISTRY OF TEXTILE
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for Small Powerloom units, for installation of Solar Photo Voltaic (SPV) plant, in order to
Units alleviate the problem of power cut/ shortage faced by decentralized
powerloom units in the country
MINISTRY OF MINES
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MINISTRY OF MSMES
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Indian culture.
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LIST OF COMMITTEES
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Tapan Ray Committee to review the Reserve Bank of India Tapan Ray
regulatory guidelines and supervisory
framework of Core Investment Companies
(CIC)
Committee to review the existing state of Reserve Bank of India Harsh Vardhan
mortgage securitisation in India and
Development of Housing Finance
Securitisation Market.
Monetary Policy Committee (MPC) to Central Government Shaktikanta Das
accelerate the GDP growth of the country.
High-level Committee to strengthen the Reserve Bank of India Nandan Nilekani
safety and security of digital payments in the
country.
High level and Bezbaruah committee to Central Government M.P. Bezbaruah
review the implementation of clause 6 of the
Assam Accord
Expert committee to look into the various Reserve Bank of India UK Sinha
challenges being faced by MSMEs
National Implementation Committee (NIC) to Prime Minister Narendra Modi Rajnath Singh
commemorate the 550th birth anniversary of
Guru Nanak at national as well as
international level.
Rajiv Kumar committee to look at selling as Union Government Rajiv Kumar
many as 149 small and marginal oil and gas
fields of state-owned Oil and Natural Gas
Corp (ONGC) and Oil India Ltd (OIL) to
private and foreign companies to boost
domestic output.
Injeti Srinivas High-Level Committee to Union Ministry of Corporate Injeti Srinivas
review the existing framework and guide, Affairs (MCA)
and formulate a roadmap for a coherent
policy on Corporate Social Responsibility
(CSR).
Injeti Srinivas Competition Law Review Union Finance Ministry Injeti Srinivas
Committee to strengthen and re-calibrate
existing law to promote best practices
Ethics Committee of Lok Sabha which Lok Sabha Speaker Lal Kishan Advani
examines complaints related to any
unethical conduct by members of Lower
House of Parliament.
Bhaskar Ramamurthy Committee to suggest Union Ministry of Human Bhaskar Ramamurthy.
changes to JEE (Advanced) in the wake of an Resource Development (HRD)
inadequate number of candidates qualifying
the entrance test.
B Sesikeran committee to review food Food Safety and Standards B Sesikeran
labelling standards Authority of India (FSSAI)
High-Level Empowered Committee to Union Government Cabinet Secretary
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To manage the Indian cricket board Supreme Court of India Vinod Rai
To frame uniform rules for the states to Government of India N.S Kang
avoid delay in proper implementation of the
Rights of Person with Disabilities (RPD) Act
across the country
To review the Fiscal Responsibility and Government of India N.K. Singh
Budget Management (FRBM)
To analysis the existing framework of IRDA- Insurance Regulatory and Amitabh Chaudhry,
kinked and non-linked insurance product Development Authority of India
regulation
Suggest ways to improve India’s Haj policy Government of India Afzal Amanullah
and also look into the issue of subsidy to the
pilgrimage
To prepare a Yoga Protocol for Diabetes Ministry of AYUSH H. R. Nagendra
Control.
to study the setting up of a defence Ministry of Defence Dr Pritam Singh
procurement organization
To review the threats inherent in the existing Reserve Bank of India Meena Hemchandra
and emerging technology also study
adoption of various security standards and
protocols, interface.
To suggest the necessary legal and policy Ministry of Housing & Urban Partha Mukhopadhyay
framework should be brought to protect the Poverty Alleviation
interests of the migrants in the country.
To examine the working of the regulatory NITI Ayog Arvind Panagariya,
bodies Central Council of Indian Medicine
(CCIM) and Central Council of
Homoeopathy(CCH)
To address issues related to the Ministry of Water Resources AK Bajaj
management of the waters of Krishna River
between warring Andhra Pradesh and
Telangana.
Reforms in the military and improve financial Defence Ministry Lt. Gen. D.B. Shekatkar
management.
To prepare draft Ganga Act Ministry of Water Resources, Justice Shri Girdhar Malviya
River Development and Ganga
Rejuvenation
To review the recommendations made by Ministry of Human Resource Kewal Kumar Sharma
University Grants Commission (UGC) panel Development
on implementation of the 7th pay
commission in educational institutions
To establish a regulated wholesale argi- State Government Mr. Ashok dalwai
market at a distance of every 80 km
To lay down technical standards for the Insolvency and Bankruptcy Board Dr. R B Barman ( chairman,
performance of core services and other of India (IBBI) national statistical Commission)
services
To compute timely data on employment Reserve Bank of India Arvind panagariya
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The committee will review the core probable Sports Ministry Abhinav bindra
list of each high priority and priority
discipline for commonwealth games, Asian
games and Olympics games.
Committee has suggested that section 78 of Union Home Ministry T K viswanathan
the IT Act needs to be substituted and
section 153 & 550A of the Indian panel
To help in implementing the new risk based IRDAI(Insurance Regulatory and Dilip C chakraborty
capital(RBC) regime and it will also enhance Development Authority)
protection to policy holders.
To provide a first thrust to job creation by NITI Aayog Dr Rajiv kumar
enhancing India’s export
To monitor and resolve IT challenges faced in Central Government Sushil kumar modi
implementation of goods and services
Tax(GST)
To look at the issues of export sector and to Central Government Hasmukh Adhia
recommend to the GST council
To examine and present a report on the Indian Parliament Bhupender yadav
Financial resolution and deposit insurance
bill, 2017
It is responsible for all the appointments of Central Government PM Narendra modi
higher ranks in the central secretariat, public
enterprises and financial institutions
It deals with the activities pertaining to the Central Government PM Narendra modi
economics of the country
It is responsible for all the issues related to Central Government PM Narendra modi
domestic and foreign affairs. It is most
powerful cabinet committee. It is often
referred as “super Cabinet”.
It is one of the most important committee of Central Government PM Narendra modi
India, it looks into the matter of defence
expenditure and national security
It is responsible for the allotment of Ministry of Home Affairs Rajnath singh
accommodation of various top positions in
the govt. of India
To look after the progress of govt business in Ministry of Home Affairs Rajnath singh
the parliament of India
The commission would complete its inquiry Tamil Nadu Government A. Arumughaswamy
and submit its report to the Tamil Nadu govt.
within three months its constitution
Union govt. setup an alternative mechanism Department of Telecom Arun jaitley
panel headed by finance minister arun
jaitley, to consider and oversee mergers
among the India’s public sector banks
It will examine the issue of corporation Ministry of External Affairs Shashi tharoor
between India and China in international
organizations
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Committee would analysis and approve Central Government Secretaries of the ministers of
plans for 5g rollout in India by 2020.This is communication, information and
amed to have Indian participation in defining technology and science and
global standards for 5g technology technology, representatives from
industry and academics
Internal committee which will provide NITI Aayog Union minister of electronics and
suggestions to Indian government on information technology
framing a national policy on artificial
intelligence(AI)
To select the candidate for the post of editor Rajya Sabha Surya Prakash
in chief of Rajyasabha TV (RSTV)
Review and considerations, it will then Reserve Bank of India Yeshwant M. Deosthalee
propose a state of the art information
system and suggest a roadmap for
developing a transparent, comprehensive
and near real time PCR in India
Inter state council investigates and advises Union Home Minister Rajnath PM Narendra modi
on disputes between states Singh
Maharashtra state govt has decided to set up Maharashtra government Maharashtra government
a committee for the implementation of a Rs
4000 crore project on a climate resilience
agriculture in 5000 villages of 15 districts.
The project would be funded by the world
bank
This committee from the centre, Delhi govt. HRD Ministry CK mishra
and experts to continuously monitor and
implement a graded response action
plan(GRAP)that include the control of roads
and construction of dust garbage burning,
control of power plants and industrial
emission
IT suggests favour of a grand Ram temple at UP Government waseem razvi
the disputed Ayodhya land, reiterating that
the board was the rightful and the only
claimant to the land on which the
demolished babri mosque once existed. The
shia board said the state govt. may in turn a
lot one acre of a land for a mosque for shia
muslims in Lucknow hussainabad area
Qatar insised UAE’s actions violate its rights WTO WTO
and those of other countries by denying
freedom of transit to Qatar. The UAE said
the measures are allowed according to an
exception under WTO rules for national
security reasons
To insect over 17000 hotels, lodges and National Green Tribunal NGT chairperson justice
home stay accommodations in Kullu and
manali towns of Himachal Pradesh
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To make sure that cow sheds are operated Uttar Pradesh govt District magistrate
efficiently in all districts
To look into the complaints of violation of Ministry of information and Rajyavardhan Rathore
programme and advertising codes by TV broadcasting
channels.
Indian railways formed a sis members Ministry of Railways Ravinder goyal, meenakshi malik,
committee to review the flexi-fare system in Iti mani, s sriram
premium trains. The committee comprises
Ravinder Goyal, Advisor in NITI Ayog.
Meenakshi Malik, Executive Director for
revenue management in Air India.
To examine complaints filed against Central Government Secretary (coordination) in the
chairman and managing directors (CMDs), cabinet secretariat
chief executives, directors of public sectors
enterprises, public sector banks, insurance
companies and financial institutions
High level committee formed by the Central Government Rajiv Kumar
Government to ensure proper management
of water resources in the North Eastern
states of India. The committee has to submit
its report by June 2018.
Committee constituted to take a view on the Central Government Secretary (Coordination in
complaints filed against the top officials of Cabinet Secretariat)
PSUs
Committee forced to resolve stuck PPP Central Government ARUN JAITLEY
projects in the ports sector
Inter- Ministerial committee set up to take a Ministries of Home Affairs, B R SHARMA
final call on the playing of the National Defence, External Affairs, Women
Anthem in cinema halls and Child Development, Human
Resource Development, Culture,
Parliamentary Affairs, Law,
Minority Affairs and Information
and Broadcasting, and the
Department of Empowerment of
Persons with Disabilities.
A committee formed by SEBI to review SEBI R GANDHI
regulations and relevant circulars pertaining
to MII (market infrastructure institutions)
An inter-regulatory working group formed by RBI SUDARSHAN SEN
RBI to recommend introducing a regulatory
sandbox to foster financial technology
innovation and a standalone data protection
law
Multi agency group to investigate the Central Government SUSHIL CHANDRA
Paradise Paper case
7 member committee formed by Maharashtra Government SUDHIR SRIVASTAVA
Maharashtra Govt. to recommend ways to
stop custodial deaths
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3 member committee formed by National National Commission for GEORGE KURIEN (Vice Chairman
Commission for Minorities (NCM) to look Minorities of NCM)
into whether Hindus should get minority
status in 8 states
Parliamentary Standing Committee formed Indian Parliament BC KHANDURI
on Defence to examine the operational
preparedness of the armed forces and
review he accidents involving strategic
defence assets
Working Group constituted which recently Central Bank CHANDAN SINHA
submitted its report to RBI to review the
guidelines for hedging of commodity price
risk by residents in the overseas markets
RBI study group ‘Janak Raj Committee’ has RBI JANAK RAJ (Principal Advisor in
submitted its report on external benchmark Monetary Policy Dept.)
rate for banks
National Committee formed to Government of India PM NARENDRA MODI
commemorate the 150th birth anniversary of
Mahatma Gandhi from Oct 2 2019 to Oct 2
2010
Price Stabilization Fund Management Ministry of Consumer Affairs, AVINASH SRIVASTAVA
Committee formed which has allowed the Food & Public Distribution
state owned agencies to import onion to
stabilise the high prices
A Group of Ministers (GoM) formed to make GST council HIMANTA BISWA SHARMA
the composition scheme more attractive and
to revisit the GST rates on the restaurants
Hill Area Development Committee formed by West Bengal Govt MANN GHISING
the West Bengal Govt.
Committee formed to examine a proposal Maharashtra Government YASHWANT THORAT
for merger of loss making district central
cooperative banks with the Maharashtra
State Cooperative Bank
Sub Committee of the Financial Stability and Union Government URJIT PATEL
Development Council (FSDC) formed to
review the major developments that could
impinge on the financial stability of India
Haj Committee formed which recently Union government AFZAL AMANULLAH
submitted its report to the Ministry of
Minority Affairs
6 member advisory group set up by the GST Council GAUTAM RAY
Ministry of Finance to recommend changes
to the GST
Committee formed to review the laws GST Council M VINOD KUMAR
governing GST
Executive Committee of the POSHAN Ministry of Women and Child RAKESH SRIVASTAVA
Abhiyaan (PM’s Over Arching Scheme for Development
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Holistic Nourishment)
Steering committee constituted to set in Punjab CM RANDHIR SINGH
motion the process of setting up a sports
university in Patiala
Select Committee of Rajya Sabha which has Rajya Sabha VINAY SAHASRABUDDHE
recommended the enactment of Motor
vehicles (Amendment) Bill 2017
Committee of 12 members formed to draft Ministry of environment and J C KALA
the 3rd National Wildlife Action Plan for Forest
2017-2031
Govt. set up a committee to address the Union Government AMITABH KANT
issue of rising stressed assets in the power
sector
Committee formed by the Power Ministry to Power Ministry P D SIWAL
investigate the cause of accident at the NTPC
Unchahar thermal power plant
Technical and safety standards committee Ministry of Road Transport and S K DHARAMADHIKARI
set up for the pool taxi project to come up Highways
on Delhi-Gurgaon pilot corridor
High level committee of 5 members Union Home Minister Rajnath RINA MITRA
constituted by MHA to study the problems of Singh
people on the LOC and IB (International
Border) in J &K
Central Advisory Board of Education (CABE) HRD Ministry KADIAM SRIHARI
subcommittee formed to recommend free
and compulsory education for girls up to
post-graduate level
Committee set up by EC to suggest changes Election Commission UMESH SINHA
to Section 126 of the Representation Of
People Act
Raksha Mantri’s Advisory committee on Ministry of Defence VINAY SHEEL OBEROI
Ministry of Defence capital projects
Steering committee on Fintech related issues Union Minister of Finance and SUBHASH CHANDRA GARG
Corporate Affairs
Inter- Ministerial Committee constituted to Ministry of Women and Child RAKESH SRIVASTAVA
control human trafficking Development
OBC sub categorization committee- a 5 President of India G ROHINI
member committee on OBC sub
categorization formed by the President of
India
Committee constituted in Karnataka to Karnataka Government G SIDDARAMAIAH
recommend an official flag for the state
Empowered Expert Committee formed by (University Grants N GOPALASWAMI
UGC to shortlist 20 institutions of eminence Commission)UGC
An expert committee constituted by RBI to Reserve Bank of India(RBI) Y H MALEGAM
classify bad loans
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RBI has set up a committee to review the regulatory guidelines and supervisory framework of Core Investment
Companies (CIC).
Tapan Ray will be the chairman of the working group (of 6 members) who is presently Non-Executive Chairman
of Central Bank of India and former Secretary of Ministry of Corporate Affairs.
Suggest changes to the current approach of the Reserve Bank of India towards registration of CIC.
To strengthen corporate governance and disclosure requirements for CIC.
CIC is a Non-Banking Financial Company (NBFC) that is indulged in the business of acquiring shares and
securities.
The investment is made in equity shares, preference shares, debentures, bonds, debt or loans in group
companies.
Finance Minister Nirmala Sitharaman proposes to start a DD channel exclusively for start-ups announcing the
Union Budget 2019-20.
The channel will serve as a platform to discuss issues affecting the growth, funding and tax paying and
matchmaking with venture capitalists and investors.
In 2016, the Department of Industrial Policy and Promotion (DIPP) has suggested setting up a channel dedicated
to startups to the Ministry of Information and Broadcasting.
The government has decided to give the regulation of the NBFCs to the RBI by announcing it in the budget 2019.
According to the Finance Bill, the RBI can supersede the NBFC Board for a maximum five year period, if the RBI
finds that it in the ‘public interest’ or to prevent the affairs of an NBFC whose conducts are detrimental to the
interest of the depositors or creditors.
For purchase of high-rated pooled assets of financially sound NBFCs, of not more than Rs 1 lakh crore, the
government will provide one-time six months’ partial credit guarantee to PSUs for first loss of up to 10%.
Provided some tax incentives to the NBFCs by treating them on par with banks in relation to Debenture
Redemption Reserve (DRR).
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Securities and Exchange Board of India (SEBI) has acquired new powers to act against information tampering,
leak of data, destroying of regulatory data or unauthorised access to data.
According to the bill, if a person tampers with information, destroys regulatory data, access data in an
unauthorised manner then a penalty of up to Rs 10 crore or 3 times the unlawful gains, whichever is higher
would be imposed on the entity.
The step has been taken as SEBI was in the midst of probing sensitive data leak through social media
platforms, Whatsapp and National Stock Exchange (NSE) case.
SEBI was established in 1988 and got powers and mandate under the SEBI Act,1992.
Its objective is to regulate the securities market and protect the securities investors.
The RBI Board finalised a 3-year roadmap covering its mission and vision for regulation and supervision.
The three-year medium-term strategy- named UTKARSH 2022 has been made for improving regulation,
supervision of the central bank and avoid any crisis.
Deputy Governor Viral Acharya anchored an internal committee which was formed to identify issues to be
addressed in the next three years.
All central banks across the world strengthen their regulatory and supervisory mechanism by formulating a long-
term plan as well as a medium-term plan. RBI has also formulated a three-year plan on the same line.
The RBI is India’s central bank, established on April 1, 1935, under the Reserve Bank of India Act.
Since 2008-2009, 2016-17 was the worst year with the highest amount of money involved in bank frauds.
2016-17 alone had 3927 frauds of amount Rs 25,883 crore.
The frauds mentioned in the list are those involving Rs 1 lakh or more.
The government has already made framework guidelines for frauds, allowing all bank accounts exceeding Rs50
crore be examined if classified as NPAs.
The government proposed to return the regulation authority over the housing finance sector from National
Housing Bank (NHB) to RBI.
Investment of Rs. 100 lakh crore is proposed in infrastructure over the next five years.
The Government will work with RBI/SEBI to enable Stock exchanges to allow AA rated bonds as collaterals in
order to deepen corporate debt markets.
Trading platforms for corporate bonds will be reviewed to make them more User-friendly.
SEBI to consider raising the threshold from 25% to 35% for a minimum public shareholding in the listed
companies.
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The house price-to-income ratio has increased in the last 4 years, as per the RBI’s quarterly Residential Asset
Price Monitoring Survey.
The survey shows that the house price-to-income ratio has increased from 56.1 in the 2015 March quarter
to 61.5 in of 2019 March quarter.
A wide gap between home prices in the country and real income was found in the survey.
Bhubaneswar with a price-to-income ratio of 54.3 was found to be the most affordable city for home buying in
the 2019 March quarter.
As per the revised circular, Banks are advised to offer basic minimum facilities free of charge without any
minimum balance requirement.
There will be no limit on number and value of deposits made in a month.
4 minimum withdrawals in a month along with ATM withdrawals are allowed.
No minimum balance would be required to avail such additional services.
The BSBD account can be converted into a normal saving account only at the written request of the customer.
The banks would be penalized under RBI Banking Regulation Act, 1949, if found for non-compliance of any
instruction.
RBI has mandated all banks to offer BSBD accounts to those looking to open a bank account.
In a BSBD account, no minimum balance is required to be maintained.
RBI imposed a penalty of Rs 7 crore on SBI and Rs 10 lakh on Union Bank of India for violating norms issued by
RBI.
SBI was found to violate the code of conduct for opening and operating current accounts(CRILC), income
recognition and asset classification (IRAC) norms, fraud risk management and its reporting.
The Union Bank of India was fined for non-compliance on cyber security framework direction issued by RBI.
After bank’s reply, RBI concluded to impose a monetary penalty of Rs 7 crore.
RBI has imposed penalty with powers vested under the provision of section 47A(1)(c) of the Banking Regulation
Act,1949.
The credit card has been launched for small traders, village-level entrepreneurs (VLEs) and VLE- sourced
customers.
HDFC Bank and CSC have signed a pact in July 2018 in which the bank offered to provide products and services in
remote locations to VLEs that are enrolled with CSCs.
CSCs acts as delivery points of various government and public utility services across the country.
There are about 3.6 lakh CSCs in the country with transacting the business of about Rs 70,000 crore.
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The Bimal Jalan Committee on Economic Capital Framework met on 17th July 2019 for the final time to decide
on transferring of surplus reserves to the government.
It’s a 6 member committee headed by Bimal Jalan (former RBI governor) and other members include Finance
Secretary Subhash C Garg, RBI deputy governor Rakesh Mohan (vice-chairman of the panel), RBI deputy
governor NS Vishwanathan, and RBI central board members Sudhir Mankad and Bharat Doshi.
RBI had the total surplus cash reserve of Rs 9.43 lakh crore on 30th June 2018.
According to the finance ministry, the buffer of 28 % of gross assets maintained by the RBI is well above
the global norm of around 14 %.
The Finance Minister proposed an amendment to the SEBI Act in the budget 2019-20 which will transfer 75%
SEBI’s surplus funds to the central government.
SEBI chairman Ajay Tyagi has asked to review the proposal of transfer of surplus funds as it will compromise
the autonomy of SEBI and its functioning.
Two provisions as presented in the finance bill were opposed by SEBI- the First one is related to the transfer of
surplus funds and second one seeking prior approval from finance ministry for raising expenses.
The bank has received in-principle regulatory approvals to set up its IFSC Banking Unit in GIFT city, Gujarat.
The Gujarat International Finance Tec-City (GIFT City) is envisaged as a hub to bring offshore financial
transactions.
The GIFT city is working with organisations to help build a hub for aircraft leasing and financing within GIFT City.
The banking business at GIFT IFSC has already seen a 167% jump in just 2 years.
As per SEBI’s new norm, if the additional provisioning of NPAs identified by RBI exceeds 10% of the reported
profit before provisions and contingencies, then all the listed banks have to disclose to the stock exchanges
divergences in the asset provisioning and classification.
Earlier, the threshold for the NPAs provisioning was 15% of the reported profit.
It also added that if the additional gross NPAs accessed by the RBI exceed 15% of the published incremental
gross NPAs, then the disclosure will be mandatory.
The finance Bill, 2019 which will amend the SEBI Act has been passed by the Lok Sabha on 18th July 2019.
The finance bill is a money bill, it means once passed by the Lok Sabha, it would become law unchanged even if
the Rajya Sabha wants to amend it.
SEBI chairman Ajay Tyagi has said it a premature step, as the issue is under discussion in the Financial Stability
and Development Council.
With the amendment, SEBI has to take the government’s approval for expanding its organisational capacity, IT
infrastructure and other soft and physical infrastructure.
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The World Bank along with Asian Infrastructure Investment Bank (AIIB) was to provide a share of $715 million of
critical funding for infrastructure development of the City.
The construction of Amravati city is the brainchild of former CM, N. Chandrababu Naidu and PM Modi laid the
foundation for the project in 2015.
The World Bank was considering the project under Amravati sustainable Infrastructure and Institutional
Development Project and Amravati Sustainable Capital City Development Project.
A.P. was split in 2014, and Hyderabad was shared as the capital by both states (Telangana and A.P.) for10 years.
Asian Development Bank (ADB) has lowered the inflation forecast for India to 4.1% in FY 2020.
ADB has supplemented Asian Development Outlook (ADO) 2019 which said that India will be the main driver to
lower the inflation for the south Asian region.
The inflation forecast for South Asia for 2019 was lowered from 4.7% to 4.5%, mainly due to lowered forecast
for India.
RBI has raised the retail inflation forecast marginally to 3-3.1% for the 1st half of fiscal in its last monetary policy
review in June.
RBI Governor Shaktikanta Das launched UTKARSH 2022, a medium-term strategy framework in line with the
evolving macro-economic environment in the country.
The framework’s objective is to achieve excellence in the performance of RBI's mandates and improve
regulation, supervision of the central bank and to avoid future crisis.
A sub-committee of the central board will periodically monitor its implementation and progress.
In April 2015, A formal strategic management framework was launched to re-articulate the core purpose, values
and vision statement of the RBI.
Acharya’s three-year term at the RBI was to end on 23rd January 2020.
He was a strong believer in the central bank’s autonomy and the health of lenders.
According to him, the government must adopt the recommendation of the 14th Finance Commission and
the FRBM Review Committee (2016-17) to establish an independent “fiscal council” and fiscal deficit should be
contained at 3 per cent of the GDP.
Insolvency and Bankruptcy Board of India (IBBI) tighten norms for resolution professionals with a cap on their
age and relative’s involvement.
Now, Resolution professionals cannot take up insolvency assignments once they attain the age of 70.
From January 1 2020, insolvency professionals are eligible to take up assignments only if they have obtained
an ‘Authorisation for Assignment’ from an Insolvency Professional Agency (IPA).
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The NCLT has asked the company to make additional disclosures to shareholders for proceeding with its sale
to Brookfield for Rs 3,950 crore.
The NCLT also warned JM Financial ARC (creditor with 26% shares) of adjudication proceedings against it for
failing to comply with takeover norms.
NCLT is a quasi-judicial body established on 1st June 2016 under the Companies Act,2013 based on the
recommendation of the Justice Eradi Committee to adjudicate issues relating to Indian Companies mainly for
insolvency resolution process of companies.
State Bank of India (SBI) has made an agreement with the New Delhi-based Agri services solutions firm Sohan Lal
Commodity Management Pvt. Ltd. (SLCM).
The agreement is made for upkeeping mortgaged commodities as SLCM provides modern and scientific
collateral management, warehousing and commodity testing services.
As per this, SLCM will now act as custodian of the SBI’s Agri commodities that it has taken as security against
loans.
The SLCM will help in mitigating the risk of the bank by managing the quantity and quality of the collateral.
Now, the Committee of Creditors (CoC) while approving a resolution or deciding liquidation of the corporate
debtor, may approve a plan for meeting the liquidation costs.
The CoC may recommend the sale of the corporate debtor or sale of the business of the corporate debtor in the
process of liquidation.
The IBBI has also specified the maximum time of 90 days from the order of liquidation for completion of
compromise/arrangement.
If the corporate debtor does not have adequate liquid resources to complete liquidation, financial creditors, who
are financial institutions, will have to contribute towards the liquidation cost.
The Reserve Bank of India (RBI) announced that the time-window for using the Real Time Gross Settlement
System (RTGS) for customer transactions will be extended from 4:30 pm to 6 pm on all working days.
It will be effective from June 1, 2019.
There shall be no charge for transactions between 8 am and 11 am.
The decision is after a robust year-on-year increase in the number of transactions by 8% to Rs.1,335 crore in
March 2019.
RTGS is an electronic form of funds transfer where the transmission takes place on a real-time basis.
The beneficiary account receives the funds transferred, on a real-time basis.
The Reserve Bank of India (RBI) constituted a committee to review the existing state of mortgage securitisation
in India and suggest measures to deepen it.
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The six-member committee on Development of Housing Finance Securitisation Market is headed by Harsh
Vardhan, Senior Advisor, Bain & Co.
The panel will review the regulations relating to mortgage-backed securitisation (MBS) currently in place, and
make specific recommendations on suitably aligning the same with international norms.
Mortgage-Backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of
mortgages.
Data from rating company ICRA showed that the securitisation volume in FY19 more than doubled as against
FY18 to Rs.2 lakh crore, of which major chunk of loans sold was by housing finance companies (HFCs) to banks in
order to raise funds owing to tough liquidity conditions.
Reserve Bank of India (RBl) permitted banks to accept Aadhaar number only for 'Know Your Customer' (KYC)
verification of customers with DBT accounts with their consent.
RBI has added the 'Proof of possession of Aadhaar number' to the list of Officially Valid Documents (OVD).
The bank should obtain the Aadhaar number from the customers who receive any benefit or subsidy under
Direct Benefit Transfer (DBT).
For Non-DBT beneficiary customers, the Regulated Entities (REs) should obtain a certified copy of any OVD
describing the details of customer's identity and address along with 1 recent photograph.
All the non-individual customers should submit Permanent Account Number(PAN)/Form No 60 (for companies
and Partnership firms - only PAN) along with other documents.
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) reduced interest rates by 25 basis points to
5.75% with immediate effect amid slowing economic growth and rising global uncertainty, for the 3rd time in a
row.
The reduction is expected to bring down the EMIs on home and auto loans and reduce the debt repayment
burden on corporates.
It is the rate at which the central bank of a country, that is RBI, lends money to commercial banks in the event of
any shortfall of funds.
The RBI has removed transaction charges levied by it for Real Time Gross Settlement System (RTGS) and
National Electronic Funds Transfer (NEFT) systems to boost digital transactions.
The Real Time Gross Settlement System (RTGS) is meant for large-value instantaneous fund transfers while the
National Electronic Funds Transfer (NEFT) System is used for fund transfers up to Rs 2 lakh.
RBI expects the banks to pass on the benefits of this move to customers.
Also, the RBI has decided to set up a committee to review the charges levied on the use to ATMs as the usage by
the public has been growing significantly.
The Reserve Bank of India (RBI) has imposed a penalty of Rs 2 crore on Kotak Mahindra Bank for not furnishing
information about the dilution of promoter shareholding.
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The penalty was imposed by the RBI in exercise of powers vested in it under the provisions of the Banking
Regulation Act, 1949.
The bank failed to comply and a show cause notice was issued to the bank as to why penalty should not be
imposed for non-compliance with the said directions.
Uday Kotak recently told the Bombay High Court, he was in full compliance of the RBI rules and the regulator
had never communicated to the promoters on the matter of shareholding.
The current Governor of RBI is Shaktikanta Das.
Markets regulator Securities and Exchange Board of India (SEBI) introduced enhanced disclosure guidelines for
credit rating agencies (CRA).
The recent Infrastructure Leasing and Financial Services Ltd's (IL&FS) liquidity crisis among non-bank lenders in
India has focused attention again on credit rating agencies.
The rating companies must create an uniform probability of default benchmark for each rating category on their
website, for one-year, two-year and three-year cumulative default rates, both for the short term and long term.
They should use marginal default methodology to arrive at default rates.
SEBI defined the terms that the companies should use to describe the liquidity position of issuer, that is, strong,
adequate, stretched and poor.
Tracking the probability of default is a step towards aligning Indian rules with global standards.
The Reserve Bank of India has asked the banks to ensure their ATMs are grouted to a wall, pillar, or floor by the
end of September month, except those installed in high secured premises such as airports.
The ATMs shall be operated for cash replenishment only with digital One Time Combination (OTC) locks.
All banks can also roll out a comprehensive e-surveillance mechanism at the ATMs.
The RBI had set up a Committee on Currency Movement (CCM) in 2016.
The decision is after the removal of Parvez Ahmed as the Chairman of the J&K Bank.
He was accused of alleged corruption, nepotism and favouritism.
It has been registered under the companies act as a government company.
The bank is expected to be brought under the RTI and CVC guidelines by the end of June.
A citizen of India can go for filing an RTI at any point in time whenever he wants to seek any information
regarding any government organization, or its any ongoing program, any public authority, etc.
The Reserve Bank of India (RBI) imposed Rs.1 crore penalty on private sector lender HDFC Bank for violating
Know Your Customer (KYC) and Anti-Money Laundering (AML) norms.
RBI had received a reference from customs' authorities regarding submission of forged bill of entries (BoEs) by
certain importers to the bank for remittance of foreign currency.
RBI said that the penalties are based on deficiencies in regulatory compliance.
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RBI said that a notice was issued to HDFC Bank on why monetary penalty should not be imposed for non-
compliance with the directions.
RBI imposed the penalty in exercise of powers vested to it under the provisions of Section 47A(1)(c) with Section
46(4)(i) of the Banking Regulation Act, 1949.
The Competition Commission of India (CCI) has approved the merger of Indiabulls Housing Finance and Lakshmi
Vilas Bank.
It is a share swap deal with an intent to create a combined entity with a larger capital base and wider
geographical reach.
After the merger, Indiabulls Housing Finance will get access to low cost deposits.
The objectives of CCI is to prevent activities that have an adverse effect on competition in India.
The National Company Law Tribunal on June 10th, 2019 approved the Scheme of Arrangement among BFIL,
IndusInd Bank and Induslnd Financial Inclusion and their respective shareholders and creditors.
It has its headquarters in Mumbai.
The CEO of IndusInd bank is Romesh Sobti.
Bharat Financial Inclusion Limited (BFIL) is a non-banking finance company, licensed by the Reserve Bank of
India.
It was founded in 1998 and its founder is Vikram Akula.
The Reserve Bank of India (RBI) has launched a Complaint Management System (CMS) on its website for
facilitating RBI's grievance redressal process.
It is a software application launched by RBI for lodging complaints against any regulated entity with public
interfaces such as Commercial Banks, Urban Cooperative Banks (UCBs) and Non-Banking Financial Companies
(NBFCs).
CMS is needed for maintaining trust and sustaining the confidence of consumers in the banking system and
other financial service providers (FSPs), prompt and effective grievance redressal mechanism together with
customers' empowerment through education.
Keeping convenience of customers in mind, RBI has designed CMS in a way to enable online filing of complaints.
The application has the feature of keeping complainants fully informed via auto-generated acknowledgements
and enabling them to track the status of their complaints as well as to file appeals online against the decisions of
the Ombudsman, where applicable.
The eight-member committee under former Sebi chairman U.K. Sinha will examine the factors affecting the
timely and adequate availability of finance to the MSME sector
Rs.5000 crore Stressed Asset Fund for MSME
o A Reserve Bank of India (RBI) committee headed by UK Sinha suggested Rs.5,000 crore stressed asset
fund for micro, small and medium enterprises (MSMEs) in a relief to businesses hut by demonetization
and GST.
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