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Type: PIB

  • [pib] E-Shram Microsites & Occupational Shortage Index (OSI)

    Why in the News?

    Union Minister for Labour & Employment has launched State and Union Territory Microsites under the e-Shram initiative and the Occupational Shortage Index (OSI).

    About E-Shram Microsites

    • E-Shram Microsites are state-specific digital platforms integrated with the national e-Shram database.
    • It is aimed at providing unorganised workers seamless access to both Central and State government welfare programs.
    • These platforms ensure real-time integration between State portals and the e-Shram database, allowing simplified registration of unorganised workers.

    Key benefits includes:

    (1) For Workers:

    • One-stop access to employment opportunities, skilling programs, and social security benefits.
    • Multilingual accessibility, ensuring workers from different regions can navigate the platform in their preferred language.
    • Two-way integration with the e-Shram database, allowing workers to receive real-time updates on welfare schemes and job opportunities.

    (2) For States/UTs:

    • Cost-effective digital infrastructure, reducing the need for separate State-level portals.
    • Real-time analytics dashboards for better policy decision-making and customized tools for specific labour market requirements.

    What is Occupational Shortage Index (OSI)?

    • The OSI is a data-driven tool designed to identify job roles and industries facing labour shortages, improving workforce planning and employment outcomes.
    • It is based on ILO methodology and quarterly Periodic Labour Force Survey (PLFS) data, ensuring an accurate and updated analysis of the job market.
    • It comprise of following 4 sub-indicators:
    1. Hourly Wage Growth
    2. Employment Growth
    3. Growth in Hours Worked
    4. Share of Under-qualified Workers
    • High OSI indicates Shortage/higher demand of workers within a particular occupation, which may result in higher wages, more job opportunities.
    • Low OSI indicates Surplus/less demand of workers, which may lead to lower wages, fewer job opportunities, and increased competition for available positions.

    PYQ:

    [2015] Discuss the changes in the trends of labour migration within and outside India in the last four decades.

  • [pib] Sukanya Samriddhi Yojana

    Why in the News?

    Sukanya Samriddhi Yojana (SSY) has completed 10 years on January 22, 2025. As of November 2024, over 4.1 crore SSY accounts have been opened, highlighting the scheme’s success and its role in fostering inclusivity and progress.

    About Sukanya Samriddhi Yojana (SSY):

    • Launched on January 22, 2015, under Beti Bachao, Beti Padhao Campaign.
    • It is a small deposit scheme by the Ministry of Finance for a girl child
    • Over 4.1 crore accounts opened as of November 2024.
    • Aims and Objectives:
      • To meet the education and marriage expenses of a girl child.
      • Promote financial independence and secure futures for girl children.

    Criteria and Provisions:

    • Eligibility: For girl children under 10 years; max 2 accounts per family (exceptions for twins/triplets).
    • Deposits: Minimum: ₹250; Maximum: ₹1.5 lakh annually; deposits for 15 years.
    • Withdrawals:
      • Partial: Up to 50% after age 18 or completion of 10th standard for education.
      • Full: Allowed for marriage (minimum age 18).
    • Interest Calculation: Monthly on the lowest balance; credited annually.
    • Premature Closure: Allowed for medical emergencies or death of guardian.
    • Interest: ate of interest 9.2% Per Annum (wef 1-4-2015), calculated on yearly basis, yearly compounded.
    • Tax Benefits: Quarterly rates compounded annually; investments and returns are tax-free under Section 80C.

    Structural Mandate and Implementation

    • Managed by guardian till age 18; account matures in 21 years.
    • Can be opened/transferred at post offices or banks.
    • Early closure for marriage requires proof of age and marriage documents.

    PYQ:

    [2014] What is/are the facility/facilities the beneficiaries can get from the services of Business Correspondent (Bank Saathi) in branchless areas?

    1. It enables the beneficiaries to draw their subsidies and social security benefits in their villages.
    2. It enables the beneficiaries in the rural areas to make deposits and withdrawals.

    Select the correct answer using the code given below:

    (a) 1 only

    (b) 2 only

    (c) Both 1 and 2

    (d) Neither 1 nor 2

  • [pib] 9 Years of Startup India

    Why in the News?

    On January 16 (National Startup Day), 2025, India marks 9 successful years of Startup India, a flagship initiative that has revolutionized the entrepreneurial ecosystem in the country.

    About the Startup India Initiative

    • Startup India is a flagship initiative launched by the Government of India on January 16, 2016, to create a robust ecosystem for nurturing startups and innovation.
    • It aims to drive economic growth and generate large-scale employment opportunities, with a focus on empowering entrepreneurs through innovation and regulatory support.
    • The PM first announced the initiative on August 15, 2015, during his Independence Day address at Red Fort, New Delhi.
    • The program aims to establish 75+ startup hubs across India and encourages entrepreneurship in Tier-2 and Tier-3 cities.
      • A related scheme, Stand-Up India, was launched on April 5, 2016, to facilitate loans between ₹10 lakh to ₹1 crore for SCs, STs and women entrepreneurs to establish Greenfield enterprises.
    • The program emphasizes the 3 Cs—Capital, Courage, and Connections, which Prime Minister Modi identifies as essential for entrepreneurial success.
    • It seeks to eliminate restrictive policies, including those related to License Raj, foreign investment proposals, and land permissions, ensuring ease of doing business.

    Definition of a Startup (as per DPIIT)

    • A startup must be registered as a private limited company, partnership firm, or limited liability partnership (LLP) in India.
    • The entity must not have completed 10 years since its incorporation.
    • Annual turnover should not exceed ₹100 crore in any financial year since incorporation.
    • The startup should focus on innovative products or services and demonstrate scalability, potential for wealth creation, or employment generation.
    • Entities formed through splitting or restructuring of existing businesses are not classified as startups.
    • Startup related terminologies analogously used in India:
      • Unicorn: A startup valued at over $1 billion.
      • Decacorn: A startup valued at over $10 billion.
      • Hectocorn: A startup valued at over $100 billion.
      • Soonicorn: A rapidly growing startup expected to become a unicorn soon.
      • Mincorn: A startup valued at less than $1 billion.

    Key Achievements of Startup India

    • India is the third-largest startup hub globally, following the United States and China.
    • DPIIT-recognized startups grew from 500 in 2016 to 1,59,157 by January 2025.
    • Women-led startups accounted for 73,151 entities as of October 2024, with 48% of startups having at least one woman director by December 2023.
    • Startups have generated 16.6 lakh direct jobs from 2016 to October 2024.
    • Over 50% of startups originated from Tier-2 and Tier-3 cities, including emerging hubs like Indore, Jaipur, and Ahmedabad.

    Key Government Initiatives for Startups:

    • Startup India Seed Fund Scheme (SISFS), 2021: Provides financial assistance to early-stage startups for proof of concept, prototype development, product trials, market entry, and commercialization.
      • Total allocated amount: ₹945 crore for startups over a four-year period.
    • Credit Guarantee Scheme for Startups (CGSS), 2022: Offers collateral-free loans to startups through Scheduled Commercial Banks, NBFCs, and SEBI-registered AIFs.
      • Covers loans up to ₹10 crore for eligible startups.
    • Fund of Funds for Startups (FFS), 2016: Established with a ₹10,000 crore corpus to provide funding support to startups through SEBI-registered Venture Capital Funds.
      • By 2024, ₹7,980 crore was committed to 99 Alternative Investment Funds (AIFs), benefiting over 800 startups.
    • BHASKAR (Bharat Startup Knowledge Access Registry), 2024: A centralized platform aimed at streamlining interactions within India’s entrepreneurial ecosystem.
      • Fosters innovation, collaboration, and startup growth through knowledge-sharing and networking.
    • Startup Village Entrepreneurship Program (SVEP): A sub-component of the National Rural Livelihood Mission (NRLM), implemented by the Ministry of Rural Development.
      • Supported 3,02,825 enterprises as of 2024, creating 6,26,848 jobs.
    • TIDE 2.0 (Technology Incubation and Development of Entrepreneurs): Focuses on supporting startups in emerging technologies like AI, IoT, and Blockchain.
      • Established 51 incubators and supported 1,235 startups.
    • GENESIS (Gen-Next Support for Innovative Startups), 2024: Aims to boost startups in Tier-II and Tier-III cities.
      • Total outlay: ₹490 crore over five years, targeting over 1,500 startups.
    • Atal Innovation Mission (AIM): Operates under NITI Aayog to foster innovation and entrepreneurship through the establishment of Atal Incubation Centers (AICs).
      • Provides physical infrastructure and mentorship for startups to scale effectively.
    • Startup Mahakumbh: A flagship event organized to bring together startups, unicorns, investors, and industry leaders.
      • First edition in 2019 saw over 500 participants; the fifth edition is scheduled for March 7-8, 2025, in New Delhi.

    PYQ:

    [2014] What does venture capital mean?

    (a) A short-term capital provided to industries

    (b) A long-term start-up capital provided to new entrepreneurs

    (c) Funds provided to industries at times of incurring losses

    (d) Funds provided for replacement and renovation of industries

  • India’s emissions inventory & efforts at mitigation

    Why in the News?

    India recently shared a report about its efforts to fight climate change. The report includes details about how much greenhouse gases (GHG) the country produces and the steps it has taken to reduce these emissions as part of its global climate promises.

    What is the Biennial Update Report (BUR)?

    • The Biennial Update Report (BUR) is a detailed report that developing countries, including India, submit to the United Nations Framework Convention on Climate Change (UNFCCC). This report outlines their efforts toward climate action, as mandated under the Paris Agreement.
    • BURs include an overview of national circumstances related to climate, socio-economic factors, and forestry, along with a comprehensive inventory of national greenhouse gas (GHG) emissions and their sources. They also detail national action plans for emission mitigation and the support received for climate-related initiatives.

    What are the BUR-4’s highlights and submissions on emissions inventory?

    • Total GHG Emissions: In 2020, India’s total GHG emissions were reported at 2,959 million tonnes of CO2 equivalent. After accounting for land use, land-use change, and forestry (LULUCF), net emissions were 2,437 million tonnes, reflecting a 7.93% decrease from 2019 levels.
    • Reduction in Emissions Intensity: The report indicates that from 2005 to 2020, India’s emissions intensity of GDP decreased by 36%. This metric measures GHG emissions per unit of economic output, highlighting improved energy efficiency and a shift towards renewable energy sources.
    • Sectoral Contributions: The energy sector was the largest contributor to emissions, accounting for 75.66%, with electricity production alone responsible for 39% of total emissions. Agriculture contributed 13.72%, while industrial processes and waste management accounted for 8.06% and 2.56%, respectively.

    What does BUR-4 say about the status of India’s climate commitments?

    • The BUR-4 outlines India’s commitment to its Nationally Determined Contributions (NDCs) under the Paris Agreement, aiming for a 45% reduction in GDP emission intensity by 2030 compared to 2005 levels.
    • The report notes that between 2005 and 2021, India created an additional carbon sink of approximately 2.29 billion tonnes of CO2 equivalent through enhanced forest and tree cover, contributing significantly to its climate goals.

    What has the report said about India’s tech needs for climate-conscious growth? (Way forward)

    • Advanced Technologies for Low-Carbon Growth: The report emphasizes the necessity for adopting cutting-edge technologies across various sectors, including solar energy, wind energy, bioenergy, electric vehicles, and carbon capture and storage.
    • Capacity Building: Strengthening institutional frameworks and workforce capabilities is essential for effective implementation of climate policies and programs. This involves training personnel and developing skills necessary to manage and operate advanced technologies.
    • Financial and Technological Support: The BUR-4 identifies a significant gap in technology transfer from developed countries, which hampers India’s ability to implement necessary climate solutions. India calls for increased international cooperation to facilitate technology transfer, eliminate intellectual property barriers, and provide financial assistance to support its climate initiatives.
    • Integration of Technology in Key Sectors: The report highlights the importance of integrating advanced technologies into critical sectors that contribute to emissions, such as agriculture and energy.

    Mains PYQ:

    Q ‘Clean energy is the order of the day.’ Describe briefly India’s changing policy towards climate change in various international fora in the context of geopolitics. (UPSC IAS/2022)

  • [pib] Nutrient Based Subsidy (NBS) scheme

    Why in the News?

    • The government has a Nutrient Based Subsidy (NBS) scheme to regulate the subsidy rates for Phosphatic and Potassic (P&K) fertilizers, based on international prices of raw materials and fluctuations in the global market.
    Note:  Unlike P&K fertilizers, urea is provided to farmers at a statutorily notified Maximum Retail Price (MRP), irrespective of its cost of production.

    About the Nutrient Based Subsidy (NBS) Scheme:

    Details
    About • Introduced to provide subsidies on Phosphatic (P) and Potassic (K) fertilizers, based on nutrient content, excluding Urea.
    • Aims to promote balanced fertilization by encouraging use of multiple fertilizers for optimal plant nutrition.
    Structure and Functioning • Launched: 2010, under the Ministry of Chemicals and Fertilizers.
    • Implemented by the Department of Fertilizers, Ministry of Chemicals and Fertilizers.
    • Scope: Applies to Phosphatic and Potassic fertilizers (excluding Urea).
    • Governance: Subsidy rates are decided annually or bi-annually, based on market prices of fertilizers and raw materials.
    Aims and Objectives • Promote Balanced Fertilization: Encourages the use of Phosphorus and Potassium to complement Nitrogen and improve soil health.
    • Enhance Nutrient Efficiency: Aims to reduce over-reliance on Urea and improve use of other essential nutrients.
    • Support Farmers’ Affordability: Makes P&K fertilizers more affordable and accessible to farmers.

     

    About New Investment Policy (NIP) on Urea 

    • The NIP for Urea was announced by the Government of India in 2012 to increase domestic urea production capacity and reduce dependence on urea imports.
    • The policy aims to revive old urea plants and promote investment in new plants to meet the growing demand for urea.
    • The NIP focuses on improving fertilizer availability, and ensuring self-sufficiency in urea production.

    Urea Pricing after NIP

    • The pricing of urea is controlled by the government, and the subsidy mechanism ensures affordable pricing for farmers.
    • The government provides subsidies to urea manufacturers to bridge the gap between the cost of production and the retail price, which is kept constant at ₹5,360 per ton (as of 2023) for farmers.

     

    PYQ:

    [2020] With reference to chemical fertilizers in India, consider the following statements:

    1. At present, the retail price of chemical fertilizers is market-driven and not administered by the Government.

    2. Ammonia, which is an input of urea, is produced from natural gas.

    3. Sulphur, which is a raw material for phosphoric acid fertilizer, is a by-product of oil refineries.

    Which of the statements given above is/are correct?

    (a) 1 only

    (b) 2 and 3 only

    (c) 2 only

    (d) 1, 2 and 3

  • [pib] India and ADB sign $98 million loan to promote Plants Health management

    Why in the News?

    • The Government of India and the Asian Development Bank (ADB) have signed a $98 million loan to support the Building India’s Clean Plant Programme.

    Aims and Objectives

    • The $98 million loan focuses on improving horticulture crop farmers’ access to certified disease-free planting materials.
    • The primary aim is to boost the yield, quality, and resilience of crops, particularly in response to the impacts of climate change.

    About the Atmanirbhar Clean Plant Programme (CPP):

    Details • Announced in Union Budget 2023-24 to enhance plant health management in India.
    • Aimed at providing farmers access to clean, disease-free planting materials.
    • Anchored by the National Horticulture Board (NHB), which will set up Clean Plant Centers across the country.
    • Ensures global competitiveness of the Indian horticulture sector.
    • Key Objectives:
    – Strengthen the regulatory framework for plant health management.
    – Establish Clean Plant Centres for disease-free horticultural crops.
    – Collaborate with private nurseries, researchers, state governments, and growers’ associations for success.
    • Funding: ADB loan to establish advanced laboratories and diagnostic testing facilities at Clean Plant Centres.
    • Will include a certification scheme for private nurseries to produce disease-free planting materials.
    Where does India stand in its Horticulture Sector? • In 2022-23, India’s horticulture production reached 351.92 million tonnes, surpassing foodgrain production.
    • Second largest producer of fruits and vegetables in the world; Contributes about 33% to the agriculture Gross Value Added (GVA).
    • Ranks first in the production of crops like Bananas, Lime, Papaya, and Okra.
    • Steady increase in horticulture production driven by proactive government policies.

     

    PYQ:

    [2021] What are the present challenges before crop diversification? How do emerging technologies provide an opportunity for crop diversification?

    [2018] Assess the role of National Horticulture Mission (NHM) in boosting the production, productivity and income of horticulture farms. How far has it succeeded in increasing the income of farmers?

  • [pib] Urban Infrastructure Development Fund (UIDF)

    Why in the News?

    The Urban Infrastructure Development Fund (UIDF) has been established to support the development of urban infrastructure in Tier-2 and Tier-3 cities.

    About Urban Infrastructure Development Fund (UIDF):

    Details
    What is it? • Established (budget speech for Financial Year 2023-24) to utilize priority sector lending shortfall for financing urban infrastructure projects.
    • Managed by the National Housing Bank (NHB).
    • Initial Corpus: ₹10,000 crore.
    • Modeled after the Rural Infrastructure Development Fund (RIDF), which supports rural infrastructure projects.
    • Focus on developing Tier-2 and Tier-3 cities in India.

    • Tier-2 Cities: Cities with populations between 50,000 and 1 lakh.
    • Tier-3 Cities: Cities with populations below 50,000.
    Aims and Objectives • Support Urban Infrastructure: Provides funding for essential urban services such as water supply, sanitation, sewerage, and waste management.
    • Sewerage, water supply, sanitation, drains, and solid waste management.
    • Prioritizes projects with significant improvements in urban services.
    • Funds are allocated to Municipal Corporations and Urban Local Bodies (ULBs) for infrastructure development.
    Structural Mandate and Implementation • Coverage: Supports 459 Tier-2 cities and 580 Tier-3 cities in India.
    • Loan Terms: Loans offered at Bank Rate minus 1.5% interest rate.
    • Repayment Terms: Loan repayable in five equal annual instalments over seven years.
    • Moratorium Period: Two years before repayment starts.
    • Quarterly Interest Payments: Regular payments required during the loan period.

     

    PYQ:

    [2017] With reference to ‘National Investment and Infrastructure Fund’, which of the following statements is/are correct?

    1. It is an organ of NITI Aayog.
    2. It has a corpus of Rs 4,00,000 crore at present.

    Select the correct answer using the code given below:

    (a) 1 only
    (b) 2 only
    (c) Both 1 and 2
    (d) Neither 1 nor 2

  • [pib] Salient Features of AMRUT 2.0

    Why in the News?

    The Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0 is a scheme launched on October 1, 2021 continues to make strides towards transforming Indian cities into self-reliant and water-secure urban areas.

    Back2Basics: Atal Mission for Rejuvenation and Urban Transformation (AMRUT)

    • It is a flagship urban development scheme launched in June 2015.
    • The mission is being operated as a Central Sponsored Scheme.
    • Aim: To provide basic urban infrastructure to improve the quality of life in cities and towns.
    • Objectives:  
      • Ensure that every household has access to a tap with an assured water supply and a sewerage connection.
      • Increase the green areas in the cities.
      • Reduce pollution by promoting public transport and constructing facilities for non-motorized transport.
    • Funding: It is divided among States/UTs in an equitable formula in which 50:50 weightage.
    • It covers 500 cities including all cities and towns with a population of over 1 lakh with notified Municipalities.

    About AMRUT 2.0:

    Details • Launched on 1st October 2021 as the continuation of AMRUT 1.0.
    • Aims to enhance urban infrastructure in 500 cities by focusing on water supply, wastewater management, and rejuvenation of water bodies.
    • The mission runs for five years (FY 2021-22 to FY 2025-26).
    Salient Features and Mission • Universal Coverage: Ensures coverage of water supply and sewerage in 500 cities and 4,900 statutory towns.
    • Circular Economy: Focuses on water recycling, reuse of treated sewage, and water conservation.
    • Technology Integration: Adopts global technologies for better water management.
    • Pey Jal Survekshan: Survey to assess water distribution, wastewater reuse, and promote healthy competition among cities.
    Its Implementation and Further Roadmap • Project Approval: 8,998 projects approved with an estimated cost of ₹1,89,458.55 crore.
    • Funds Distribution: Funds released by MoHUA to States/UTs and then to Urban Local Bodies (ULBs).
    • State Water Action Plan (SWAP): States/UTs must complete their SWAP and get approval within two years of the mission’s launch.
    • Future Plans: Focus on sustainable water management and extension of AMRUT 1.0 benefits to more towns.

     

    PYQ:

    [2011] In India, a Metropolitan Planning Committee

    1. is constituted under the provisions of the Constitution of India.

    2. prepares the draft development plans for metropolitan area.

    3. has the sole responsibility for implementing Government sponsored schemes in the metropolitan area.

    Which of the statements given above is/are correct?

    (a) 1 and 2 only

    (b) 2 only

    (c) 1 and 3 only

    (d) 1, 2 and 3

  • The Copyright Act, 1957

    Why in the News?

    The ongoing copyright dispute between actors Dhanush and Nayanthara highlights the complexities of copyright law and its potential misuse in the film industry.

    What is the dispute?

    • The case revolves around South Indian actor Dhanush suing actress Nayanthara for using excerpts from their 2015 film in a biopic without his consent.
    • Nayanthara claims she had sought permission earlier, but Dhanush’s company, which produced the film, did not respond, leading to the lawsuit over copyright infringement.

    About The Copyright Act, 1957:

    Details
    What is it? • Enacted in 1957 to protect creators’ rights over original works.
    • Objective: To encourage creativity while balancing public access.
    • Grants exclusive rights to authors and creators for reproduction, distribution, and public performance of their works.
    • The Act has been amended to address digital content and technological advancements.
    Features and Provisions of the Act • Scope: Covers literary, musical, artistic works, cinematograph films, sound recordings, and more.
    • Duration: Copyright lasts life of author + 60 years for literary, musical, and dramatic works, and 60 years for films/sound recordings.
    • Exclusive Rights: Right to reproduce, distribute, perform, and adapt works.
    • Moral Rights: Includes right to attribution and integrity of the work.
    What does Section 52 say? • Section 52 lists exceptions allowing use of copyrighted works without permission in specific situations.
    • Fair Use: For criticism, review, news reporting, teaching, research, and private use.
    • Includes exceptions for libraries, archives, and government use.
    • Important for education and public access—enables non-commercial use of works.

     

    PYQ:

    [2014] In a globalized world, Intellectual Property Rights assume significance and are a source of litigation. Broadly distinguish between the terms—Copyrights, Patents and Trade Secrets.

    [2017] With reference to the ‘National Intellectual Property Rights Policy’, consider the following statements:

    1. It reiterates India’s commitment to the Doha Development Agenda and the TRIPS Agreement.
    2. Department of Industrial Policy and Promotion is the nodal agency for regulating intellectual property rights in India.

    Which of the above statements is/are correct?

    (a) 1 only
    (b) 2 only
    (c) Both 1 and 2
    (d) Neither 1 nor 2

  • [pib] India Post Payments Bank (IPPB)

    Why in the News?

    The Minister of State for Communications has provided crucial information about the India Post Payments Bank (IPPB).

    About India Post Payments Bank (IPPB):

    Details
    What is it? Division of India Post under the Ministry of Communications, launched in 2018.

    Operates as payments bank.
    Vision and Principles • Objective: Promote financial inclusion by providing accessible and affordable financial services.
    • Customer-Centric: Focuses on delivering secure and affordable banking to rural and underserved areas.
    Empowerment Initiatives by IPPB • Financial Inclusion: Offers savings accounts, current accounts, money transfers, bill payments, and insurance.
    • Aadhaar-Linked Services: Implements Aadhaar-enabled Payment System (AePS) for easy and secure transactions.
    • Doorstep Banking: Provides banking services through 3 lakh postmen and Grameen Dak Sewaks.
    • Rapid Expansion: Reached 4 crore customers by December 2020 and crossed 8 crore customers by January 2022, with over 9 crore customers as of March 2024.

     

    Back2Basics: Payments Bank

    • A payments bank operates like a regular bank but without credit risk.
    • It was set up based on the recommendations of the Nachiket Mor Committee.
    • Objective: To promote financial inclusion, especially in unbanked areas, serving migrant workers, low-income households, and small entrepreneurs.
    • Payments banks are registered as public limited companies under the Companies Act, 2013, and licensed under the Banking Regulation Act, 1949.
    • Governed by the Banking Regulation Act, RBI Act, 1934, and the Foreign Exchange Management Act, 1999.
    • Services Offered:
        • Minimum paid-up equity capital is Rs. 100 crores.
        • Can accept deposits up to Rs. 2,00,000 in savings and current accounts.
        • 75% of deposits must be invested in government securities (SLR), with the remaining 25% placed as time deposits with other scheduled commercial banks.
        • Offers remittance services, mobile payments, ATM/debit cards, net banking, and third-party fund transfers.
        • Act as a banking correspondent (BC) for credit and other services.
    • Limitations:
      • Cannot issue loans or credit cards.
      • Cannot accept time deposits or NRI deposits.
      • Cannot set up subsidiaries for non-banking financial activities.

     

    PYQ:

    [2018] Which one of the following links all the ATMs in India?

    (a) Indian banks’ Association

    (b) National Securities Depository Limited

    (c) National Payments Corporation of India

    (d) Reserve Bank of India