BANKING SCHEMES & POLICIES

Production-Linked Incentive Scheme

The Union Cabinet has approved the Continuation and Revamping of the Scheme for Financial Support to Public-Private Partnership in Infrastructure Viability Gap Funding Scheme till 2024-25 with an outlay of Rs 8,100 crore. Key Points:

• This will help to promote and strengthen PPP (Public-Private Partnership) in the social and economic infrastructure domain.
• This financial support will allow proper operation and maintenance, efficient creation of assets and will make the socially essential projects commercially viable.
• This grant amount will help to develop water supply, wastewater treatment, Health and Education sectors.
• Also, the committee said that the centre will provide $30 %$ of the total project cost while the state governments and sponsoring ministry will have to provide additional support of up to $30 %$ of the total project cost.

Operation Greens - Top to Total Scheme

Under Operation Greens (TOP to TOTAL) Scheme, $50 %$ transportation subsidy is now made available for air transportation for 41 notified fruits and vegetables from NorthEastern and Himalayan States to any place in India. Key Points:

• Airlines will provide the transport subsidy directly to the supplier by way of charging only $50 %$ of the actual contracted freight charges and will claim the balance $50 %$ from MoFPI as subsidy.
• The scheme was approved and the amended Scheme Guidelines were notified in November 2020.
• All consignment of notified fruits and vegetables irrespective of quantity and price would be eligible for $50 %$ freight subsidy.
• The transportation subsidy was earlier extended under Operation Greens Scheme for Kisan Rail Scheme in December.
• Railways charge only $50 %$ of freight charges on the notified fruits and vegetables.

Saral Jeevan Bima

The guidelines for ‘Saral Jeevan Bima’ have been released by IRDAI (Insurance Regulatory and Development Authority of India).

Key Points:

• IRDAI has made mandatory the offering of this insurance policy by all life insurance companies from 1st Jan 2021.
• The ‘Saral Jeevan Bima’ will be non-linked non-participating individual pure risk premium life insurance plan and has no maturity benefit.
• The insurance plan offers optional accident benefit and permanent disability riders. The sum assured will be paid to the nominee in case of death of the holder of the policy.
• The minimum amount for ‘Saral Jeevan Bima’ is Rs 5 lakh and maximum amount is up to Rs 25 lakhs. Policy term is from 5 to 40 years.
• The policy offers three premium payment options: Regular Premium, Limited premium payment term for 5 years, 10 years and Single Premium. DAY-NRLM Special Package for J&K and Ladakh

The Union Cabinet approved a special package worth Rs. 520 crore in the Union Territories (UTs) of J&K and Ladakh for a period of five years under the Deendayal Antyodaya YojanaNational Rural Livelihood Mission (DAYNRLM).

Key Points:

• The Centre aims to universalise all centrally sponsored beneficiary-oriented schemes in $\mathrm{J} & \mathrm{~K}$ and Ladakh in a time-bound manner.
• The package has been approved for a period of five years till 2023-24.
• It has been decided to ensure funding on a demand-driven basis without linking allocation with poverty ratio during the extended period.
• Around two-third rural women from the UTs will be covered and 10.58 lakh women will get the benefit from the special package.
• DAY-NRLM is a centrally sponsored programme of the Ministry of Rural Development to eliminate rural poverty through the promotion of multiple livelihoods and improved access to financial services for the rural poor households across the country.

‘My Town My Pride’ Programme

Lieutenant Governor of Jammu and Kashmir announced a programme called ‘My Town My Pride’.

Key Points:

• The programme is basically an urban connect programme which aims to provide governance facilities at the doorsteps in urban areas of J & K.
• Objectives of ‘My Town My Pride’ Programme: (a) To strengthen grassroots democracy (b) Public outreach in towns (c) To offer service delivery at doorsteps.
• ‘My Town My Pride’ Programme will look after on-the-spot addressing of grievances redressals, offer immediate service delivery to people and offer ground speedy execution of people centric schemes and projects.
• The programme also aims to offer timebound delivery of documents like caste certificates, revenue and income certificate, old-age and physically handicapped pension registration, ration card updation, Aadhaar card enrolments, etc. at doorsteps.
• It will ensure immediate delivery of benefits like government schemes like pensions, scholarships, PMAY, health golden cards, Ladli Beti, etc.

Safaimitra Suraksha Challenge

The Ministry of Housing and Urban Affairs launched Safaimitra Suraksha Challenge across 243 Cities to ensure that no life of any sewer or septic tank cleaner is ever lost again owing to the issue of ‘hazardous cleaning’.

Key Points:

• The Challenge was launched on the occasion of World Toilet Day.
• Aim: Preventing ‘hazardous cleaning’ of sewers and septic tanks and promoting their mechanized cleaning.
• Representatives from 243 cities across the country took a pledge to mechanize all sewer and septic tank cleaning operations by 30th April 2021.
• The initiative is in line with the core of the Swachh Bharat Mission-Urban (SBM-U)
• The actual on-ground assessment of participating cities will be conducted in May 2021 by an independent agency and results of the same will be declared on 15 August 2021.

‘Mukhya Mantri Saur Swarojgar Yojana’ Uttarakhand

The Government of Uttarakhand launched ‘Mukhya Mantri Saur Swarojgar Yojana’.

Key Points:

• The yojana is launched with an aim to boost self-employment capability in youth and promote the production of Green Energy.
• The scheme is specially launched for the youths and migrants who have returned to the state and have lost their jobs due to pandemic COVID-19.
• The scheme will offer employment opportunities in the Green Energy Sector to around 10,000 youths and migrants.
• The beneficiaries will be allotted with solar plants of 25 KW each.
• To set up these plants, 1.5-2 nails of land and Rs 10 lakhs at Rs 40,000 per unit is required. ‘Swanirbhar Nari: Atma Nirbhar Assam Scheme’

The Assam Government launched a new scheme named as Swanirbhar Nari: Atma Nirbhar Assam’.

Key Points:

• The scheme aims to empower women who are economically backward in Assam.
• The scheme is said to be beneficial to around 4 lakh families.
• Around 3.72 lakh Sustainable Individual Assets and 822 Community Assets will be created for this scheme.
• 5 activities will be implemented in case of Individual Asset creation and 20 activities will be implemented in case of Community Assets creation.
• The scheme will be implemented in-line with other schemes and missions of Assam like Assam State Rural Livelihood Mission, Agriculture and Horticulture, Fishery, Animal Husbandry, Handloom, textiles, and Forest.

SVAMITVA Scheme

Prime Minister Narendra Modi launched physical distribution of property card programme under SVAMITVA Scheme.

Key Points:

• SVAMITVA Scheme stands for Survey of Villages and Mapping with Improvised Technology in Village Areas (SVAMITVA).
• The scheme was launched in April 2020 with an aim to grant a record of rights to document the residential properties to the owners of village households and to issue them property cards.
• Now after the distribution of property cards, the owners will have the proof of owning their houses.
• With the help of this card, the beneficiaries can also opt for loans as loans are easily available from the bank on the basis of the record of the property. Also the property card will also provide a way to buy and sell the property without any dispute for the villagers.

Har Ghar Nal Yojana

The ‘Har Ghar Nal Yojana’ (tap water to every household) is launched by PM Narendra Modi.

Key Points:

• It is basically a rural drinking water supply project and was launched in Mirzapur and Sonbhadra districts of Uttar Pradesh.
• The project aims to provide tap water connections to around 2,995 villages which will benefit 42 lakh people.
• The estimated cost for ‘Har Ghar Nal Yojana’ Rs 5,555.38 crore.
• Out of this total amount of Rs 3212.18 crore will be utilized in Sonbhadra and Rs 2343.20 crore will be utilized in Mirzapur.
• The scheme will be completed in the next two years.

PM Jeevan Jyoti Bima Yojana

The PM Jeevan Jyoti Bima Yojana (PMJJBY) is launched by India Post Payments Bank (IPPB) in partnership with PNB MetLife India Insurance Company Limited.

Key Points:

• The PMJJBY offers protection and financial security to the underprivileged and poor who are living in unbanked and remote areas of the country.
• This low-cost insurance scheme will offer a life cover to the family in case of the death of the insured member due to any reason.
• The insurance scheme is for anyone who is having a savings account in IPPB.
• The scheme offers maximum coverage of Rs 2 lakhs.
• The annual premium amount for this scheme is Rs 330.

‘YSR Bima’ Scheme

Andhra Pradesh government launched ‘YSR Bima’ scheme under which 1.41 crore Below Poverty Line (BPL) will be provided insurance cover for death and permanent disability.

Key Points:

• The insurance cover amount will be directly credited into the bank account of the beneficiary within 15 days of making the claim.
• Immediate assistance of Rs 10,000 will be provided to the families of victims through village and ward secretaries.
• The accidental death and total permanent disability for people between age group 1850 years is Rs 5 lakh.
• The accidental death and total permanent disability for people between age group 51-70 years is Rs 3 lakh.
• Natural death cases of the people between age 18-50 years is Rs 2 lakh.
• For partial permanent disability in an accident case of people between age 18-70 years is Rs 1.5 lakhs.

PM Modi Launched Three Projects in Gujarat

Prime Minister Narendra Modi launched ‘Kisan Suryoday Yojana’, ‘Girnar Ropeway’ and ‘Paediatric Heart Hospital in UN Mehta Heart Research Institute’ in Gujarat state.

Key Points:

• The ‘Kisan Suryoday Yojana’ has been launched to provide day time power supply for irrigation facilities in Gujarat.
• The state farmers will be provided with a power supply between 5 am to 9 pm .
• The funds allotted for ‘Kisan Suryoday Yojana’ is Rs 3500 crores, which will be used to install transmissions lines in which each transmission line will carry 66KW of power.
• Also, 22 kv substations will also be installed with the help of these funds.
• PM Modi also inaugurated a ropeway located in Mount Girnar in Junagadh district of Gujarat. This ropeway is considered as the longest ropeway in Asia.
• Total cost of this ropeway is Rs 130 crore and is 2320 meters long, with the capacity of carrying 1000 passengers in one hour.
• PM Modi also inaugurated the Paediatric Heart Hospital at UN Mehta Institute of Cardiology and Research Centre at Civil Hospital campus of Ahmedabad and Mobile Application for telecardiology. The funds utilised for this is Rs 470 crore.

PM SVANidhi

The PradhanMantriStreet Vendors Atmanirbhar Nidhi (PM SVANidhi) scheme was launched by the Ministry of Housing and Urban Affairs.

Key Points:

• Through the PM SVANidhi scheme, the central government would extend Rs 10,000 loan as working capital to street vendors.
• This amount will help the street vendors to restart their businesses which have been hit by the Covid-19 pandemic.
• The Small Industries Development Bank of India (SIDBI) is the scheme’s implementation agency.
• This scheme will help in mainstreaming and legitimising genuine street vendors who have not got valid identity cards.
• The scheme brings in financial mainstreaming of street vendors through loans and digital payments.

‘Parivarthanam Scheme’ - Kerala

The Kerala government has launched ‘Parivarthanam Scheme’, which is a pioneering eco-sustainable programme.

Key Points:

• The scheme is launched for the betterment of the Fishing Community.
• The management and implementation of the scheme will be headed by Kerala State Coastal Area Development Corporation (KSCADC).
• The ‘Parivarthanam Scheme’ is launched to improve the livelihood skills of youngsters living along the coastline along with upliftment of the fishing community.
• The scheme will offer a fixed price to fishcatchers as fair compensation.
• The scheme also offers employment job opportunities to college dropouts and migrant workforce who returned to their home town due to COVID-19.

PM WANI Scheme

In a bid to fuel broadband internet proliferation across the country, the Government of India launched PM WANI (Prime Minister Wi-Fi Access Network Interface) Scheme.

Key Points:

• The scheme aims to bring large scale deployment of Wi-Fi hotspots through the country to drive up connectivity options and improve digital access.
• The scheme envisages setting up of public Wi-Fi networks and access points by local Kirana and neighbourhood shops through public data offices (PDO will be set up on the lines of Public Call Offices (PCOs)) that will not involve any licence, fee or registration.
• Apart from, Public Wi-Fi being a low-cost option to reach unserved citizens and grow the economy, it can revolutionise the tech world and significantly improve Wi-Fi availability across the length and breadth of India.
• This is being seen as an attempt by the government to elevate wireless internet connectivity in the country.