09 Mar 2018: UPSC Exam PIB Summary & Analysis

Basel III capital regulations

• RBI has envisaged full implementation of Basel III capital regulations in India by March 31, 2019.
• Norms/guidelines regarding the capital required to be maintained by banks in India including the Basel III capital regulations, are issued by RBI.
• RBI has not notified any changes or proposed changes to these regulations since March 2016.
• As per audited data of Public Sector Banks (PSBs) for the quarter ended December 2017, all PSBs met the regulatory norm for Common Equity Tier-1.
• Further, with a view to supplementing the efforts of PSBs for meeting regulatory capital norms and augmenting growth capital, Government of India announced in October 2017 recapitalisation of PSBs to the tune of Rs. 2,11,000 crore over the current and next financial years .

Disinvestment Policy

The extant disinvestment policy, inter alia, envisages:

• Listing of profitable CPSEs on stock exchanges to unlock the value of the company, improve efficiency and promote ”people’s ownership” by encouraging public participation in CPSEs;
• Disinvestment through ”minority stake sale” in listed CPSEs to achieve minimum public shareholding norms of 25 per cent. While pursuing divestment through ”minority stake sale”, the Government will retain majority shareholding, i.e. at least 51% and management control of the Public Sector Undertakings;
• Strategic disinvestment by way of sale of substantial portion of Government shareholding in identified CPSEs upto 50 per cent or more, along with transfer of management control.

Music series under Incredible India Heritage Series

• The Ministry of Tourism is organizing a music series under the Incredible India Heritage Series in Delhi, Varanasi and Kochi, which are important tourist centres of the country. 
• This  music series   organised through SPIC MACAY would  be  held  over  a period  of  6  weekends with  the objective to promote rich  cultural  heritage of  the country .
• The artists, who would be performing in the programme series include Hindustani as well Carnatic Vocalists and Instrumentalists. Similarly the best of our Folk traditions will be showcased by performances of Qawwali, Kabir Gayan, Choir, Baul and various folk art forms from across the nation.

Minimum Support Price (MSP) for different agricultural crops

• In light of the Finance Minister’s budget announcement that NITI Aayog will develop and put in place a fool-proof mechanism.
• NITI Aayog will develop a mechanism for implementation of Minimum Support Price (MSP) for different agricultural crops.
• In our country, MSP for 24 agricultural commodities of Kharif and Rabi season are announced by the Government based on the recommendations of the Commission for Agriculture Cost and Prices (CACP). 
• However, procurement by Central and State Agencies is limited to rice and wheat and some amount of coarse cereals.
• The Government also procures limited quantity of oil seed and pulses through NAFED, SFAC and some other agencies.
• The market intervention scheme (MIS) is implemented in case of the prices falling below the threshold level in perishable crops.

To ace UPSC current affairs section, read more PIB articles here.