UniFocus IAS ( UNIFOCUS UNIVERSAL )

  An Umbrella Organization named National Urban Co-operative Finance and Development Corporation (NUCFDC) has been established  to address the difficulties of Urban Cooperative Banks (UCBs). NUCFDC is envisaged to provide following types of fund-based support and non fund-based services to urban cooperative banks (UCBs) which are its shareholder-members.   (I) Fund based support: Capital support to UCBs as per regulations and guidelines & terms and conditions Secured credit lines on merits to UCBs to help tide over temporary liquidity mismatches Re-financing UCBs against their loans Window for emergency liquidity support to help UCBs in difficult times. Deposits and borrowings from UCBs and financial institutions Market borrowings Investments (II) Non fund based services: A shared IT (Information Technology) platform and support to the sector and an array of IT products and services Treasury management services Payment and settlement services and credit card services ...

I ndia is committed to decarbonise the steel sector in alignment with net-zero emission intensity target by 2070.To mark this, as a historic milestone in India’s journey towards low-emission steel,  Shri H D Kumaraswamy, Union Minister of Steel & Heavy Industries, ​ unveiled  ​the Taxonomy of Green Steel​ for India during an event held at Vigyan Bhavan, on ​12 th  December 2024​ in the presence of Shri Bhupathi Raju Srinivasa Varma, Minister of State for Steel and Heavy Industries, Officers of Steel Ministry, representatives from other concerned Ministries, CPSEs, ​Steel industry players, Think Tanks, Academia and some foreign representatives in India including a delegation of European Union. Globally, there is no commonly accepted definition of green steel; India is the first nation to release the Taxonomy of Green Steel. The salient features of green steel taxonomy – “Green Steel”  shall be defined in terms of percentage greenness of the steel, which is produce...

In a significant move to support the agricultural sector and address rising input costs, the Reserve Bank of India has announced an increase in the limit for collateral-free agricultural loans, including loans for allied activities. The existing loan limit of ₹1.6 lakh per borrower has been raised to ₹ 2 lakh. This decision acknowledges the impact of inflation and the increasing cost of agricultural inputs on farmers. It aims to provide enhanced financial access to farmers, ensuring they have sufficient resources to meet their operational and developmental needs without the burden of providing collateral. Effective January 1, 2025, banks across the country are instructed to: Waive collateral security and margin requirements for agricultural loans, including loans for allied activities, up to ₹2 lakh per borrower. Expeditiously implement the revised guidelines to ensure timely financial assistance to the farming community. Banks are instructed to provide widespread publicity to these ch...

In a major boost to the domestic MRO industry and to the aviation sector, the Government has announced that a uniform rate of 5% IGST will apply to imports of Parts components, testing equipment, tools and tool-kits of aircraft, irrespective of their HSN classification subject to specified conditions. This policy change is a crucial step towards enhancing the competitiveness of the Indian MRO sector, fostering innovation and efficiency and creating a robust and efficient aviation sector. The Government has taken several steps to facilitate setting up of aircraft Maintenance, Repair and Overhaul (MRO) services in India through various policy, regulatory and other incentives which include: As part of the announcements made in Union Budget 2024-25, the period for export of goods imported for repairs has been extended from six months to one year. Also, the time-limit for re-import of goods for repairs under warranty has been extended from three to five years. New MRO Guidelines announced o...

Relevance: "  RBI’s Digital Payments Index increases across all parameters " - The Hindu It was announced in    Statement on Developmental and Regulatory Policies  as part of the  Sixth Bi-monthly Monetary Policy Statement for 2019-20 dated February 06, 2020. The RBI-DPI comprises of 5 broad parameters that enable measurement of deepening and penetration of digital payments in the country over different time periods. These parameters are –  (i) Payment Enablers (weight 25%) ( Sub Parameters: Internet, Mobile, Aadhaar, Bank Accounts, Participants, and Merchants ),  (ii) Payment Infrastructure – Demand-side factors (10%) ( Sub Parameters: Debit Cards, Credit Cards, Prepaid Payment Instruments, Customers Registered - Mobile & Internet Banking, and FASTags ),  (iii) Payment Infrastructure – Supply-side factors (15%) ( Sub Parameters: Bank Branches, Business Correspondants, ATMs, PoS Terminals, QR Codes, and Intermediaries ),  (iv) Payment Per...

The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2024-25 in Parliament today. The highlights of the budget are as follows: Part-A Budget Estimates 2024-25: Total receipts other than borrowings: `32.07 lakh crore. Total expenditure: `48.21 lakh crore. Net tax receipt: `25.83 lakh crore. Fiscal deficit: 4.9 per cent of GDP. Government aims to reach a deficit below 4.5 per cent next year. Inflation continues to be low, stable and moving towards the 4% target; Core inflation (non-food, non-fuel) at 3.1%. The focus of budget is on  EMPLOYMENT, SKILLING, MSMEs, and the MIDDLE CLASS . Package of PM’s five schemes for Employment and Skilling  Prime Minister’s Package of 5 Schemes and Initiatives for employment, skilling and other opportunities for 4.1 crore youth over a 5-year period. Scheme A - First Timers:  One-month salary of up to `15,000 to be provided in 3 installments to first-time employees, as registered in the EPFO....