UniFocus IAS ( UNIFOCUS UNIVERSAL )

  The Gold Monetisation Scheme (GMS) was announced on 15 th   September, 2015 with the objective to reduce country’s reliance on the import of gold in the long run and mobilise gold held by households and institutions in the country to facilitate its use for productive purposes. The GMS comprised of 3 components: Short Term Bank Deposit (1-3 years) Medium Term Government Deposit (5-7 years), and Long-Term Government Deposit (12 - 15 years) Based on the examination of the performance of the Gold Monetisation Scheme (GMS) and evolving market conditions, it has been decided to discontinue the Medium Term and Long Term Government Deposit (MLTGD) components of the GMS w.e.f. March 26, 2025. Accordingly, any gold deposits tendered at the designated Collection and Purity Testing Centre (CPTC) or GMS Mobilisation, Collection & Testing Agent (GMCTA) or the designated bank branches under the said components of GMS shall not be accepted with effect from March 26, 2025. However, the e...

  The Union Cabinet on  09-September-2015  approved the introduction of Gold Monetization Schemes (GMS), as announced in the Union Budget 2015-16.   The objective of introducing the modifications in the schemes is to make the existing schemes more effective and to broaden the ambit of the existing schemes from merely mobilizing gold held by households and institutions in the country to putting this gold into productive use. The long-term objective which is sought through this arrangement is to reduce the country's reliance on the import of gold to meet domestic demand.   GMS would benefit the Indian gems and jewellery sector which is a major contributor to India's exports. In fiscal year 2014-15, gems and jewellery constituted 12 per cent of India's total exports and the value of gold items alone was more than $13 billion (provisional figures).   The mobilized gold will also supplement RBI’s gold reserves and will help in reducing the government's borrowing...

NPCI BHIM Services Limited (NBSL), a wholly owned subsidiary of the National Payments Corporation of India (NPCI), has launched Bharat Interface for Money (BHIM) 3.0. BHIM 3.0 represents its third evolution since its launch in 2016 by Prime Minister Narendra Modi.  The new BHIM 3.0 app offers customer friendly and more intuitive experience. BHIM 3.0 now offers:  More Languages – Available in 15+ Indian languages for better accessibility  Works in Low Internet Areas – Optimised to ensure seamless transactions even with slow or unstable network connections  Better Money Management – Advanced tools to track, manage, and split expenses with ease. Enhanced Features for Users  Split Expenses – Users can now split bills with friends and family seamlessly. Whether it’s dining out, rent payments, or group purchases, the BHIM app allows users to divide expenses and make payments directly, ensuring hassle-free settlements.  Family Mode – Users can now onboard family m...

The Financial Sector Assessment Program (FSAP), a joint program of the International Monetary Fund (IMF) and the World Bank (WB), undertakes a comprehensive and in-depth analysis of a country’s financial sector. Since September 2010 the exercise has become mandatory for jurisdictions with systemically important financial sectors. Currently, it is mandatory for 32 jurisdictions including India, every five years, and for another 15 jurisdictions every ten years. Last FSAP for India was conducted in 2017 and the Financial System Stability Assessment (FSSA) report was published by IMF on 21st December, 2017. Launched in 1999 in the wake of the Asian financial crisis, the program brings together Bank and Fund expertise to help countries reduce the likelihood and severity of financial sector crises. Aim: 1. to gauge the  stability and soundness of a country’s financial sector   2. to assess the financial sector can contribute to growth and development. The IMF specializes in the sta...

  PART A Union Minister for Finance and Corporate Affairs Smt Nirmala Sitharaman presented Union Budget 2025-26 in the Parliament today. The highlights of the budget are as follows: Budget Estimates 2025-26 The total receipts other than borrowings and the total expenditure are estimated at ₹ 34.96 lakh crore and ₹ 50.65 lakh crore respectively. The net tax receipts are estimated at ₹ 28.37 lakh crore. The fiscal deficit is estimated to be 4.4 per cent of GDP. The gross market borrowings are estimated at ₹ 14.82 lakh crore. Capex Expenditure of ₹11.21 lakh crore (3.1% of GDP) earmarked in FY2025-26. AGRICULTURE AS THE 1 ST  ENGINE OF DEVELOPMENT Prime Minister Dhan-Dhaanya Krishi Yojana - Developing Agri Districts Programme The programme to be launched in partnership with the states, covering 100 districts with low productivity, moderate crop intensity and below-average credit parameters, to benefit 1.7 crore farmers. Building Rural Prosperity and Resilience A comprehensive mul...