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Daily Current Affairs for UPSC, IAS, UPPSC/UPPCS, BPSC, MPPSC, RPSC and All State PCS Examinations

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PM SVANidhi

Why in News?

Recently, a Memorandum of Understanding has been signed between Ministry of Housing & Urban Affairs and Small Industries Development Bank of India (SIDBI), in order to engage SIDBI as the Implementation Agency for PM Street Vendor’s Atma Nirbhar Nidhi (PM SVANidhi) - a Special Micro-Credit Facility for Street Vendors - Striving towards Atma Nirbhar Bharat.

Keypoints:

• Approximately 50 lakh vendors who had their businesses operational on or before 24 March 2020 can avail an affordable loan of up to Rs. 10,000.
• On timely/ early repayment of the loan, an interest subsidy at the rate of 7% per annum will be credited to the bank accounts of beneficiaries through DBT.
• Institutions like Scheduled Commercials Banks (SCBs), Non-Bank Finance Companies (NBFCs), Micro Finance Institutions (MFIs), Co-operative Banks, Small Finance Banks (SFBs), Regional Rural Banks (RRBs), etc. are allowed to lend for ground level Scheme implementation.
• The scheme is valid until March 2022.
• In order to ensure fast implementation of the scheme with transparency, a digital platform with a web portal and mobile app is being developed to administer the scheme with an end-to-end solution and provide cashback for digital transactions.

SIDBI

• Set up on 2nd April 1990 under an Act of Indian Parliament(thus, it is statutory body), acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector as well as for co-ordination of functions of institutions engaged in similar activities.
• It is headquartered in Lucknow, Uttar Pradesh.
• SIDBI aims to facilitate and strengthen credit flow to MSMEs and address both financial and developmental gaps in MSME eco-system across the country.

Khelo India Centers

Why in NEWS?

Recently, Sports Ministry has decided to establish 1000 Khelo India Centers (KIC) at the district level across the country to engage past champions in sports training, with 100 KICs planned to be established in current financial year.

About

• A short-listing mechanism has been put in place to identify eligible past champions to either establish their own academy or work as a coach in KIC.
• Training will be imparted at the Khelo India Centres in 14 Identified Sports for Excellence in Olympics (ISEO). Football and traditional sports have also been included.
• Existing Sports Authority of India (SAI) extension centres will be given the option of converting into a KIC and recruiting a past champion who personally impart full-time training to athletes.
• Organisations which have been promoting sports for at least 5 years will also be eligible to establish a KIC ( J&K, Ladakh, Daman and Diu, Andaman and Nicobar , Lakshadweep and northeast states need not to follow 5 year rule) , provided they recruit past champions as coaches.

Benefits

• It will tap into the expertise of past sporting champions for grassroot-level training of athletes, to ensure a sustained source of income for them in the sports ecosystem and strengthening grassroot level sports.
• It will also ensure that past champions can contribute in to making India a sporting superpower while earning a livelihood from sports.
• Help ensure sports become a viable career option for youngsters.
• Help realise the target of increasing India’s representation at global sports championships especially in Olympics.

GOVERNMENT OF INDIA & AIIB SIGN AN AGREEMENT FOR $750 MILLION FOR COVID-19 IN NEWS

• The Government of India and the Asian Infrastructure Investment Bank (AIIB) signed a $750 million “COVID-19 Active Response and Expenditure Support Programme” to assist India to strengthen its response to the adverse impacts of the COVID-19 pandemic on poor and vulnerable households.
• This is the first ever budgetary support programme from the AIIB to India. The project will be executed by the Department of Economic Affairs, Ministry of Finance.

ABOUT AIIB

• The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia, began operations in January 2016. AIIB has now grown to 102 approved members worldwide.

PURPOSE

• The Programme will provide the Government of India with budget support to mitigate the severe adverse social and economic impact of COVID-19.

FINANCING MECHANISM

• The project is being financed by the Asian Infrastructure Investment Bank (AIIB) and Asian Development Bank (ADB) in the amount of $2.250 billion, of which $750 million will be provided by AIIB and $1.5 billion will be provided by ADB.

BENEFICIARY

• The Primary Programme beneficiaries would be families below the poverty line, farmers, healthcare workers, women, women’s self-help groups, widows, people with disabilities, senior citizens, low wage earners, construction workers and other vulnerable groups.

R&D PORTAL FOR AATMANIRBHAR BHARAT IN MINING ADVANCEMENT

IN NEWS-

• Digital Technologies in promoting research and development in the mining and mineral sector in the country led to the launch of SATYABHAMA (Science and Technology Yojana for Aatmanirbhar Bharat in Mining Advancement) Portal for Science and Technology Programme Scheme of Ministry of Mines.
• Shri Pralhad Joshi, Union Minister for Coal, Mines and Parliamentary Affairs appealed to the scientists and researchers in the Mining and Mineral Sector to undertake qualitative and innovative research and development work for AatmaNirbhar Bharat.

ABOUT-

• SATYABHAMA Portal allows online submission of project proposals along with monitoring of the projects and utilization of funds / grants.
• The researchers can also submit progress reports and Final Technical Reports of the projects in the electronic format in the portal.
• A User Manual is also available on the Portal where the stepwise procedures for submission of project proposals have been highlighted. The Portal is integrated with NGO Darpan Portal of NITI Aayog.

CONCLUSION-

• Ministry of Mines with the vision to promote research in applied geosciences, mineral exploration, mining and allied areas, mineral processing, optimum utilization and conservation of the mineral resources of the country, for the benefit of the nation and its people.
• The Portal will increase efficiency and effectiveness in the implementation of the Scheme.

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