19 June 2019: UPSC Exam PIB Summary & Analysis

Read the daily PIB update and stay up-to-date on current affairs for the UPSC exam.

June 19th 2019 PIB:-Download PDF Here

Government to support to Small Traders and Retailers

Context

  • Union Minister of Commerce and Industry & Railways, Piyush Goyal, held a meeting with representatives of associations of kirana stores, traders and retailers
  • Minister urged small retailers, kirana stores to make use of modern technology and avail benefits of Government of India schemes like MUDRA to improve their business.
  • Minister reiterated that India will not allow multi-brand retail by foreign companies and on the pretext of B2B no entry will be allowed for multi-brand retail.

MUDRA

  • Micro Units Development and Refinance Agency Bank (or MUDRA Bank) is a public sector financial institution in India
  • It provides loans at low rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs.

Pradhan Mantri MUDRA Yojana

  • Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched for providing loans upto 10 lakh to the non-corporate, non-farm small/micro enterprises.
  • These loans are classified as MUDRA loans under PMMY. These loans are given by Commercial Banks, RRBs, Small Finance Banks, Cooperative Banks, MFIs and NBFCs.
  • The borrower can approach any of the lending institutions mentioned above or can apply online through the portal.
  • Under the aegis of PMMY, MUDRA has created three products namely:
  1. ‘Shishu’: Covering Loans Upto 50,000/-
  2. ‘Kishore’: Covering Loans above 50,000/- And Upto 5 Lakh
  3. ‘Tarun’: Covering Loans above 5 Lakh And Upto 10 Lakh
  • This is to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur and also provide a reference point for the next phase of graduation / growth.

Dispute Resolution Mechanism for solar/wind sector

Context

  • A major decision to facilitate the solar and wind energy projects, Union Minister has approved a proposal to set up a Dispute Resolution Committee to consider the unforeseen disputes between solar/wind power developers and SECI/NTPC, beyond contractual agreement.

Significance of the decision

  • The Solar and Wind Industry have been demanding setting up of Dispute Resolution Mechanism by MNRE for quite some time
  • The issue was considered and it was felt that there is need to erect a transparent, unbiased Dispute Resolution Mechanism, consisting of an independent, transparent and unbiased Dispute Resolution Committee (DRC)

About the committee

  • A three member Dispute Resolution Committee (DRC) will be set up with the approval of Hon’ble Minister (NRE), consisting of eminent persons of impeccable integrity.
  • The mechanism of Dispute Resolution Committee (DRC) will be applicable for all solar/ wind Schemes/ Programmes/ Projects being implemented through/ by SECI/ NTPC.

Draft Notification to exempt Battery Operated Vehicles

  • In order to give a boost to Battery-Operated or Electric Vehicles in the country, the Ministry of Road Transport and Highways has initiated steps for providing for differential registration fees under the Central Motor Vehicles Rules 1989.
  • The amendment proposes to exempt Battery Operated Vehicles from payment of fees for the purpose of issue or renewal of registration certificate and assignment of new registration mark.
  • This means that Electric Vehicles would be exempted from such registration charges.

Also Read:

June 19th 2019 PIB:-Download PDF Here

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