14 Oct 2022: PIB Summary for UPSC

TABLE OF CONTENTS

1. PM to dedicate 75 Digital Banking Units across 75 districts to the Nation
2. Manak Mahotsav organized by the Bureau of Indian Standards

1. PM to dedicate 75 Digital Banking Units across 75 districts to the Nation

Syllabus: GS 3, Indian Economy.

Prelims: Digital Banking Units(DBU).

Mains: Indian economy and mobilization of resources.

Context: PM to dedicate 75 Digital Banking Units to the nation.

Details:

• The Prime Minister of India is about to dedicate 75 Digital Banking Units (DBUs) to the country.
• The setting up of the 75 DBUs in 75 districts of India was announced in the Union budget speech of 2022-23. The number 75 was chosen as India has completed 75 years of Independence.
• The objective of the Digital Banking Unit is to provide the benefits of digital banking to every corner of the country, covering all the States and Union territories. Eleven Public Sector Banks, Twelve Private Sector Banks, and one Small Finance Bank will contribute in this direction.

Digital Banking Units:

• DBUs are brick-and-mortar units that will provide a variety of digital banking services to the general public. The variety of services included are opening savings accounts, balance-check, printing passbooks, transferring funds, loan applications, investment opportunities, paying taxes/bills, making nominations, etc.
• It will enable bank customers to have convenient and cost-effective accessibility and elevate the digital experience of banking services. 
• It will also spread Digital Financial Literacy and give more emphasis to customer education in terms of cyber security awareness and protection. 
• Moreover, adequate digital mechanisms will be provided for real-time assistance and customer grievances redressal.

For more information on Digital Banking, read here: AIR Spotlight – Push to Financial Inclusion and Digital Banking Download PDF

2. Manak Mahotsav organized by the Bureau of Indian Standards

Syllabus: GS 2, Governance.

Prelims: Bureau of Indian Standards.

Mains: Government policies and interventions.

Context: World Standards Day.

Details:

• The Bureau of Indian Standards, Mumbai organized a Standards Conclave –“Manak Mahotsav” on World Standards Day. The theme of the conclave was ‘Standards for Sustainable Development Goals – A Shared Vision for a Better World’.
• It was highlighted that for ‘Brand India’ to emerge across the world, a change in attitude was required focusing on quality standards. The Union Minister of Consumer Affairs also underscored the importance of standards in a country’s growth potential.

World Standards Day:

• On 14 October, the members of the International Organization for Standardization, the International Electrotechnical Commission,  and the International Telecommunication Union (ITU) celebrate World Standards Day.
• The day is celebrated to pay tribute to the combined efforts of various experts across the world who develop voluntary technical agreements that are consequently published as International Standards.

Bureau of Indian Standards (BIS):

• It is a National Standard Body under the aegis of the Ministry of Consumer Affairs, Food, and Public Distribution. 
• The aim of BIS is the harmonious development of the activities of standardization, product testing, and quality certification of goods in India. 
• It has provided large-scale benefits to the economy of the country by ensuring safe reliable quality goods for the consumers. It also plays a role in minimizing harmful health impacts on consumers; controlling the over-proliferation of various products, promoting exports, etc. through testing, certification, and standardization.

For more information on the Bureau of Indian Standards read here: BIS Act, 2016; Bureau of Indian Standards Act

October 14th, 2022, PIB:- Download PDF Here

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