12 July 2021: PIB Summary & Analysis

July 12th, 2021, PIB:- Download PDF Here

TABLE OF CONTENTS

1. Ashadhi Bij
2. Rath Yatra
3. National Bank For Agriculture And Rural Development (NABARD)
4. International Financial Services Centres Authority (IFSCA)

1. Ashadhi Bij

Context:

PM greets people on the occasion of Ashadhi Bij, the Kutchi New Year.

About Ashadhi Bij:

• Ashadhi Bij is an auspicious day for the farming communities in northern India especially Gujarat, Uttar Pradesh and some other places.
• The festival falls on the second day of the Shukla Paksha of the Ashadha month of the Hindu calendar.
• The festival is associated with the beginning of rains in the Kutch region of Gujarat and is celebrated as the Kutchi New Year.
• On this festival, farmers, astrologers and others predict the monsoon to assess which crop would be best in the coming season.

2. Rath Yatra

Context:

PM greets people on the occasion Rath Yatra.

About Puri Rath Yatra:

• The Rath Yatra festival at the Jagannath Temple at Puri, Odisha was on 12^th July this year.
• Because of the covid-19 pandemic, the festival was celebrated without devotees.
• Only officials and temple authorities, apart from police personnel were present.

To know more about this important festival, check CNA dated 5^th May 2020.

3. National Bank For Agriculture And Rural Development (NABARD)

Context:

40^th foundation day of the National Bank For Agriculture And Rural Development (NABARD).

Know more about NABARD in the linked article.

4. International Financial Services Centres Authority (IFSCA)

Context:

Framework for setting up and operating International Trade Finance Services platform (ITFS) for providing trade finance services at International Financial Services Centres.

Details:

• The IFSCA has issued a framework for setting up and operating International Trade Finance Services Platform for providing Trade Finance Services at International Financial  Services Centres.
• The framework will enable Exporters and Importers to avail various types of trade finance facilities at competitive terms, for their international trade transactions through a dedicated electronic platform viz, ITFS.
• This will help in their ability to convert their trade receivables into liquid funds and to obtain short term funding.
• This framework will provide an opportunity to the participants to avail trade finance facilities for trade transactions such as Export Invoice Trade Financing, Reverse Trade Financing, Bill discounting under Letter of Credit, Supply Chain Finance for Exporters, Export Credit (Packing Credit), Insurance/Credit Guarantee, Factoring and any other eligible product, on the ITFS platform.

Read more on the International Financial Services Centres Authority (IFSCA) in the link.

Read previous PIB here.

July 12th, 2021, PIB:- Download PDF Here