Current Affairs 29 August 2020 – IAS Current Affairs

Current Affairs 29 August 2020 focuses on Prelims-Mains perspective. Major events are :

1. Chunauti Next Generation Start-up Challenge
2. Sustainable Finance Collaborative with UNDP
3. Six Years Successful Implementation PMJDY
4. Mahatma Ayyankali Social Reformer

Chunauti Next Generation Start-up Challenge

Why in news ?

Minister for Electronics and Information Technology Shri Ravi Shankar Prasad today launched Chunauti Next Generation Start-up Challenge Contest.

About Chunauti Next Generation Start-up Challenge

• To further boost startups and software products with special focus on Tier-II towns of India.
• The government has earmarked a budget of Rs. 95.03 Crore over a period of three years for this programme.
• It aims to identify around 300 startups working in identified areas.
• Besides provide them seed fund of upto Rs. 25 Lakh and other facilities.
• The startups selected through Chunauti will be provided various support from the Government through Software Technology Parks of India centers across India.
• They will get incubation facilities, mentorship, security testing facilities, access to venture capitalist funding, industry connect as well as advisories in legal, Human Resource (HR), IPR and Patent matters.
• The major focus on 
  • Education, Agriculture, Finance technologies
  • Supply chain
  • Infrastructure & Remote monitoring
  • Medical Healthcare
  • Jobs & Skilling

Challenges for Start Up in India

• Many Indian founders have a technical background and lack business knowledge.
• Significant amount of working capital is required that means finding the right investor and raising funds is difficult.
• Diversity in language leads to communication gap with customers and start up cannot understand the need of customers.
• competitive for marketing :Many firms are already present and many more enter the market including the duplicate products market with less price.
• Selection of an employee is difficult as they are not willing to join a start up firm as a career option. 
• India ranking in Ease of doing business at 77 out of 190 but country is 137th of 190 countries in the World Bank Starting a Business Ranking index. This shows the difficulty in starting a business. 

Indian start up sector is at the early stage of development. It is important to increase the ease of starting a business for self reliant India. The proposals like Chunauti Next Generation Start-up Challenge will boost the ecosystem.

Source : PIB

Topic

Prelims : About Chunauti Next Generation Start-up Challenge

GS III : Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth

(ii) Awareness in the fields of IT, Space, Computers, robotics, nano-technology, bio-technology and issues relating to intellectual property rights

Sustainable Finance Collaborative with UNDP

What is the News?

Department of Economic Affairs (DEA), Ministry of Finance, Government of India, in collaboration with the United Nations Development Programme India launched the Sustainable Finance Collaborative with UNDP. 

Key aspects of Sustainable Finance Collaborative

• Objective behind the collaboration is to work together to boost the country’s efforts on mobilising sustainable and green finance.
• Sustainable Finance Collaborative is a strong step towards putting in place a robust financing framework for India’s sustainable growth and development.

SGD and Need for Finance Collaboration

• It was estimated that India needs over USD 2.6 trillion to meet the SDG targets by 2030.
• India will continue to pursue the implementation of the SDG agenda through close collaboration between
  the national and sub-national governments.
• NITI Aayog is promoting a national network of resource institutions called Samavesh to promote systematic and regular access
• Performance of Various States
  • Andhra Pradesh as part of its Vision 2029 has identified indicators for each of the 17 SDGs.
  • Assam has set up a Centre for SDGs under the Planning and Development Department and an integrated
    framework for implementation has been adopted.
  • Kerala has set up elaborate indicators and standards for achieving the SDG 3 on health.
  • Tamil Nadu focuses on infrastructure development.
  • Maharashtra is focused on balanced regional development and emphasizes sustainable livelihoods initiative for management of land, water and forest 
• Poverty Reduction programs through schemes like
  • Mahatma Gandhi National Rural Employment Guarantee Act
  • Deendayal Antyodaya Yojana
  • Pradhan Mantri Jan-Dhan Yojana access to the entire financial services

Source :PIB

Topic

Prelims : SDG

GS III : Conservation, environmental pollution and degradation, environmental impact assessment

Six Years Successful Implementation PMJDY

What is the news?

Pradhan Mantri Jan Dhan Yojana Financial Inclusion announced by Prime Minister in his Independence Day address on 2014 successfully completes its six years. 

Pradhan Mantri Jan Dhan Yojana

 Aim : To provide financial inclusiveness and support to the marginalised and hitherto socio-economically neglected classes for inclusive growth.

• Objectives
  • Ensure access of financial products & services at an affordable cost.
  • Use of technology to lower cost & widen reach.
• 6 Pillars of the scheme
  • Universal access to banking services.
  • Basic savings bank accounts with overdraft facility of Rs. 10,000/- to every household.
  • Financial Literacy Program Promoting savings, use of ATMs, getting ready for credit, availing insurance and pensions, using basic mobile phones for banking.
  • Creation of Credit Guarantee Fund to provide banks some guarantee against defaults.
  • Insurance accident cover up to Rs. 1,00,000 and life cover of Rs. 30,000 on account opened between 15 Aug 2014 to 31 January 2015.
  • Pension scheme for Unorganised sector.
• Change of Focus in 2018
  • Opening accounts from every household to every adult.
    • Existing Over Draft (OD) limit of Rs. 5,000 revised to Rs. 10,000.
    • No conditions attached for active PMJDY accounts availing OD upto Rs. 2,000.
    • Age limit for availing OD facility revised from 18-60 years to 18-65 years.
    • The accidental insurance cover for new RuPay card holders raised from existing Rs.1 lakh to Rs. 2 lakh. 
• There is no requirement to maintain any minimum balance in PMJDY accounts.
• Rupay Debit card is provided to PMJDY account holder.
• PMJDY accounts are eligible for Direct Benefit Transfer (DBT) : 
  • Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY.
  • Pradhan Mantri Suraksha Bima Yojana (PMSBY).
  • Atal Pendion Yojana (APY).
  • Micro Units Development & Refinance Agency Bank (MUDRA) scheme.

Performance of the Scheme

• PMJDY Accounts :
  • Total PMJDY Accounts: 40.35 Crore with Rural PMJDY accounts : 63.6% and Women PMJDY accounts : 55.2%.
  • Out of total 40.35 crore PMJDY accounts, 34.81 crore (86.3%) are operative.
• Average Deposit per PMJDY account : Average deposit per account is Rs. 3239
• Jan Dhan Darshak App : Mobile application, was launched to provide for locating banking touch points such as bank branches, ATMs, Bank Mitras, Post Offices, etc. in the country. 
• DBT transactions : About 8 crore PMJDY accountholders receive direct benefit transfer (DBT) from the Government under various schemes.

Source : PIB

Topic

Prelims : About the Scheme

GS II :  Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes; mechanisms, laws, institutions and Bodies constituted for the protection and betterment of these vulnerable sections

Mahatma Ayyankali Social Reformer

Why in News ?

PM Modi Pays Tribute To Social Reformer Mahatma Ayyankali.

Mahatma Ayyankali

• Ayyankali was born on August 28, 1863 in present day Thiruvananthapuram district in Kerala erstwhile princely state of Travancore. He died in 1941.
• Member of the Pulaya community of untouchable people who were illiterate and rural slaves, Ayyankali resolved to get rid of boundaries of the caste system.
• Ayyankali in 1893 rode an ox-cart challenging the ‘ban’ on untouchables from accessing public roads by caste-Hindus on of the major achievements.
• One of the first strike of working class against discrimination of untouchables in schools, they strike against the landlords.
• Ayyankali started Sadhu Jana Paripalana Sangham which later raised funds to start their own schools.
• He was very much inspired by Sree Narayana Guru.
• The organised a walk came to be known as ‘walk for freedom’ leads to riots as Chaliyar riots.
• Mahatma Gandhi called Ayyankali as Pulaya king and Indira Gandhi described him as India’s greatest son.

Effect of the efforts

• Travancore government ordered that Pulaya children be admitted to all schools which Ezhava children have access 1910.
• Ayyankali later became a member of the assembly of Travancore, known as the Sree Moolam Popular Assembly.
• Brahma Nishta Matam organisation was established against converting to Christianity by preaching Hinduism.
• Later Constitutional Support 
  • Article 15(4) : State to create special arrangements for promoting the interests and welfare of socially and educationally backward classes of the society such as SC and STs.
  • Article 17  : Abolishes the practice of untouchability
  • Article 330 : Reservations for seats for scheduled castes and scheduled tribes.
• Laws and Commissions
  • SC and the ST (Prevention of Atrocities) amendment Act, 2018.
  • National Commission for Scheduled Castes under Article 338.

Source : PIB

Topic

Prelims : About Ayaankali and various efforts

GS I : Modern Indian history from about the middle of the eighteenth century until the present- significant events, personalities, issues.

Current Affairs 29 August 2020 : Our major Sources for the Current Affairs are The Hindu, Indian Express, PIB. For more queries and mentor-ship please contact us.