Which of the following is not true regarding the Common Minimum Programme (CMP) associated with PSUs?
- No disinvestment in profit making PSU
- Establishment of Department of Disinvestment
- PSUs to get commercial autonomy
- Revival of sick PSUs
0 voters
Options:
Option is Right to buy or sell an agreed quantity of currency or commodity
without obligation to do so. The buyer will exercise the option if market
price is in favor or otherwise option may be allowed to lapse.
Call Option
Right to buy at fixed price on or before fixed date.
Put Option
Right to sell at fixed price on or before fixed date.
Final day on which it expires is called maturity.
CALL OPTION;
If Strike price is below the spot price, the option is In the money.
If Strike price is equal to the spot price, the option is At the money.
If Strike price is above the spot price, the option is Out of money.
PUT OPTION
If Strike price is more the spot price, the option is In the money.
If Strike price is equal to the spot price, the option is At the money.
If Strike price is less than spot price, the option is Out of the money.
American Option
Option can be exercised on any day before expiry.
European Option
Option can be exercised on maturity only.
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Electoral Bonds
In order to bring about transparent funding of political parties during elections, electoral bonds are used. These are bearer instruments and carry no information about the owner but yield to the holder of the bond. They are issued in multiples of Rs 1000,10000etc. However, they must be used within 15 days of sale.
They were brought into the system to curb the use of black money by political parties for funding their election campaigns. The details of the person buying them are kept anonymous in order to prevent his harassment by the opposition parties. As the donor buys them from banks after furnishing his KYC norms, a check is imposed automatically for the entry of black money into the system. Moreover, the time limit of 15 days ensures that the bonds are not hoarded for a longer period of time. They also provide tax incentives to the buyer.
Despite the above advantages, some people criticize their use. According to them, the Government may nudge the public sector banks into revealing the KYC details of the people who had invested in the electoral bonds. It may lead to a vindictive attitude towards these people by the government in case they fund the opposition.
However such a situation seems to be far-fetched. Moreover, if the electoral bonds are coupled with other measures like reducing the duration of the election and in turn reducing the period of spending by the political parties, an efficient check can be placed on illegal election funding. This will lead to drastic drop in fiscal slippage and monetary transmission and other functions are smoother for the RBI to perform.
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ONE-TIME RESTRUCTURING OF MSME
Considering the importance of MSMEs in the Indian economy, it is considered necessary at this juncture to take certain measures for creating an enabling environment for the sector.
With a view to facilitate meaningful restructuring of MSME accounts that have become stressed, RBI has been decided to permit a one-time restructuring of MSME existing loans classified as ‘standard.
RBI has decided to permit a one-time restructuring of existing loans to MSMEs classified as ‘standard’ without a downgrade in the asset classification, subject to the following conditions:
- The aggregate exposure, including non-fund based facilities, of banks and NBFCs to the borrower does not exceed Rs 250 million as on January 1, 2019.
- The borrower’s account is in default but is a ‘standard asset’ as on January 1, 2019 and continues to be classified as a ‘standard asset’ till the date of implementation of the restructuring.
- The borrowing entity is GST-registered on the date of implementation of the restructuring. However, this condition will not apply to MSMEs that are exempt from GST-registration.
- The restructuring of the borrower account is implemented on or before March 31, 2020. A restructuring would be treated as implemented if the following conditions are met:
- All related documentation, including execution of necessary agreements between lenders and borrower / creation of security charge / perfection of securities are completed by all lenders; and
- The new capital structure and / or changes in the terms and conditions of the existing loans get duly reflected in the books of all the lenders and the borrower.
- A provision of 5% in addition to the provisions already held, shall be made in respect of accounts restructured under these instructions.
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Role of HRD in Risk Management
The importance of Human Resource Management can not be neglected especially when companies are operating in such a volatile and unstable environment. The department plays a vital role in risk management. Needless to say, handling people is one of the most difficult tasks in the world and human resource department of any company has to handle them and other related issues every now and then. Risk Management is not only about controlling or reducing the negative effects of physical and financial threats to the organization. Rather it also includes handling and controlling the risk arising from shortage of employees, their refusal to work and many other issues.It’s human capital who can make or break the organization. It can take it to new heights or can weaken it. It is, therefore, very challenging to handle and manage the risk resulting from people of the organization. It is only human resource that helps management in dealing with risk. The situation would be worst if they themselves become a risk factor. People use their skills and intellect to solve expected or unexpected problems. But what if when they themselves become the greatest source of risk or other problems? This is when HRD plays a key role. Let’s discuss what Human Resource Department of any organization can go the extra mile to manage risk.
Human Resource Management is not only about making policies for the organization.
In today’s unpredictable environment, it is certainly the indispensable part of an organization. The major function of HRD is to get the job done from employees and that too ensuring the interest of both the parties - management and employees. Managing the labor, handling their issues, proper and regular supply of human capital, motivating employees to perform their task in a better way, avoiding unnecessary conflicts and using people to handle risk are what HRD is supposed to do.When we talk about HR related risks, the subject includes problems related to recruitment and retention, adjusting skill-confidence level of employees, stress management, maintaining industrial relations and many more. All these risks can threaten the smooth working of an organization. HRD and risk management are inter-related as they both deal with expected and unexpected problems arising in any organization.
Risk management plans are specially developed and implemented to manage the risk and reducing its negative effect on the organization.
It may or may not be a part of HRD. If the company is facing financial or physical threats, the risk management may not be a part of human resource department. But if it is related to people, industrial relations, conflict management and stress management, it is definitely a part of HRD. It always deals with crisis of human resources of the company. Recruiting, training and retaining people are the major issues that need to be addressed timely.HRD also has to deal with people calamities such as accidental death of an employee, temporary or permanent paralysis, constructional accidents, labor discrimination, etc. Like other risk management plans, plans and programs developed for handling HR issues are not free from problems. They also have some flaws that need to be addressed by HR managers as and when required.
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Anti Poverty & Employment Generation Programmes
As per the estimation by the Tendulkar Committee the number of Below Poverty Line (BPL) declined to 21.9% of the population in 2011-12 from 29.8% in 2009-10 and 37.2% in 2004-05. The Global Multidimensional Poverty Index-2018 released by the UN noted that 271 million people moved out of poverty between 2005/06 and 2015/16 in India. The poverty rate in the country has nearly halved, falling from 55% to 28% over the ten-year period.Still a big part of the population in india is living Below the Povert Line. As per Tendulkar Committee this estimation is around 21.9% of the total population of the country.
Anti poverty measures and Employment Generating programmes are:
1. Integrated Rural Development Programme (IRDP):The Integrated Rural Development Programme (IRDP), which was introduced in 1978-79 and universalized from 2nd October, 1980, aimed at providing assistance to the rural poor in the form of subsidy and bank credit for productive employment opportunities through successive plan periods. On 1st April, 1999, the IRDP and allied programmes were merged into a single programme known as Swarnajayanti Gram Swarozgar Yojana (SGSY). The SGSY emphasizes on organizing the rural poor into self-help groups, capacity-building, planning of activity clusters, infrastructure support, technology, credit and marketing linkages.
2. Jawahar Rozgar Yojana/Jawahar Gram Samriddhi Yojana:Under the Wage Employment Programmes, the National Rural Employment Programme (NREP) and Rural Landless Employment Guarantee Programme (RLEGP) were started in Sixth and Seventh Plans. The NREP and RLEGP were merged in April 1989 under Jawahar Rozgar Yojana (JRY). The JRY was meant to generate meaningful employment opportunities for the unemployed and underemployed in rural areas through the creation of economic infrastructure and community and social assets. The JRY was revamped from 1st April, 1999, as Jawahar Gram Samriddhi Yojana (JGSY). It now became a programme for the creation of rural economic infrastructure with employment generation as the secondary objective.
3. Rural Housing – Indira Awaas Yojana:The Indira Awaas Yojana (LAY) programme aims at providing free housing to Below Poverty Line (BPL) families in rural areas and main targets would be the households of SC/STs. It was first merged with the Jawahar Rozgar Yojana (JRY) in 1989 and in 1996 it broke away from JRY into a separate housing scheme for the rural poor.
4. Food for Work Programme:The Food for Work Programme was started in 2000-01 as a component of EAS full form??. It was first launched in eight drought-affected states of Chhattisgarh, Gujarat, Himachal Pradesh, Madhya Pradesh, Orissa, Rajasthan, Maharashtra and Uttaranchal. It aims at enhancing food security through wage employment. Food grains are supplied to states free of cost, however, the supply of food grains from the Food Corporation of India (FCI) godowns has been slow.
5. Sampoorna Gramin Rozgar Yojana (SGRY):The JGSY, EAS and Food for Work Programme were revamped and merged under the new Sampoorna Gramin Rozgar Yojana (SGRY) Scheme from 1st September, 2001. The main objective of the scheme continues to be the generation of wage employment, creation of durable economic infrastructure in rural areas and provision of food and nutrition security for the poor.
6. Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) 2005:It was launched on February 2, 2005. The Act provides 100 days assured employment every year to every rural household. One-third of the proposed jobs would be reserved for women. The central government will also establish National Employment Guarantee Funds. Similarly, state governments will establish State Employment Guarantee Funds for implementation of the scheme. Under the programme, if an applicant is not provided employment within 15 days s/he will be entitled to a daily unemployment allowance.
Salient features of MGNREGA are:I. Right based frameworkII. Time bound guarantee of employmentIII. Labour intensive workIV. Women empowermentV. Transparency and accountabilityVI. Adequate funding by central government
7. National Food for Work Programme:It was launched on November 14, 2004 in 150 most backward districts of the country. The objective of the programme was to provide additional resources available under Sampoorna Grameen Rojgar Yojna. This was 100% centrally funded programme. Now this programme has been subsumed in the MGNREGA from Feb 2, 2006.
8. National Rural Livelihood Mission: Ajeevika (2011)It is the skill and placement initiative of Ministry of Rural development. It is a part of National Rural Livelihood Mission (NRLM)–the mission for poverty reduction is called Ajeevika (2011). It evolves out the need to diversify the needs of the rural poor and provide them jobs with regular income on monthly basis. Self Help groups are formed at the village level to help the needy.
9. Pradhan Mantri Kaushal Vikas Yojna:The cabinet on March 21, 2015 cleared the scheme to provide skill training to 1.4 million youth with an overall outlay of Rs. 1120 crore. This plan is implemented with the help of Ministry of Skill Development and Entrepreneurship through the National Skill Development Corporation. It will focus on fresh entrant to the labour market, especially labour market and class X and XII dropouts.
10. National Heritage Development and Augmentation Yojna (HRIDAY):HRIDAY scheme was launched (21 Jan. 2015) to preserve and rejuvenate the rich cultural heritage of the country. This Rs. 500 crore programme was launched by Urban Development Ministry in New Delhi. Initially it is launched in 12 cities: Amritsar, Varanasi, Gaya, Puri, Ajmer, Mathura, Dwarka, Badami, Velankanni, Kanchipuram, Warangal and Amarvati. These programmes played/are playing a very crucial role in the development of the all sections of the society so that the concept of holistic development can be ensured in the real sense.
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Highlights of economic survey 2018-19
*Survey sees FY20 GDP growth at 7%, higher growth on stables macros.
* India needs to grow at 8% per year to be $5 trillion economy by FY25.
* Survey suggests diplomatic type privileges, naming roads for top taxpayers
* It recommends a renewed focus on pushing up exports.
*Govt should foster the growth of large firms instead of focusing on smaller firms.
* Use public data to revolutionise development in the country.
*Looking beyond the economics of equilibrium, survey makes case for investment-driven “virtuous cycle” to sustain growth at 8%.
* Investment the "key driver" of simultaneous growth in demand, jobs, exports & productivity
* Green shoots in investment activity seems to taking hold.
* Rural wage growth started increasing since mid-2018.
* Political stability should push the animal spirits of economy.
* Poor enforcement of contracts and dispute resolution is a big hurdle. Faster legal process should be top priority.
* Savings & growth are positively co-related. Savings must increase more than investment.
* Constant recalibration based on real time data. Data must be created as a public good “of the people, by the people, for the people.
* Survey argues that nudging behaviour change is simplest way to solve many social issues.
* Top policymakers must ensure actions are predictable. Policymaking needs: 1. Clear Vision 2. Strategic blueprint 3. Tactical tools for constant recalibration
* Success of MGNREGS shows govt schemes can make a difference on the ground with skilful use of technology
* A minimum wage policy for bottom rung of wage earners to drive up demand and strengthening the middle class.
* Indian MSMEs need to be freed from shackles that convert them into dwarfs. MSMEs need to be seen as a source of innovation, growth and job creation.
* Policy should enable MSMEs to grow, create greater profits for their owners and contribute to job creation and productivity in the economy .
* India needs to increase per capita energy consumption to raise real per capita GDP by US$ 5000 and improve its HDI ranking.
* The Survey is inspired by Gandhiji's Talisman: “…Recall the face of the poorest man [woman], and ask yourself, if the step you contemplate is going to be of any use to him [her].
* India will enjoy the “demographic dividend” phase in the next two decades but some states will start transitioning to an ageing society by the 2030s.
* India moving forward from Swachch Bharat to Swasth and Sundar Bharat.
* The Survey visualises creating a Detroit for Electric Vehicles in India.
*Ease labour laws to spur job growth.
* The Survey seeks reform in lower judiciary
* Govt stands by the fiscal consolidation path.
* Jan-March economic slowdown due to poll related related activity.
* Greenshoots in investment seems to be taking hold.
* NBFC stress reason for FY19 slowdown.
* Decline in NPAs should push up CAPEX cycle.
* General fiscal deficit seen at 5.8% in FY19 VS 6.4% in FY18.
* Investment rate seen higher in FY20 on improved demand.
* Oil prices seen declining in FY20.
*Accomodative MPC policy to help cut real lending rates.
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New scheme for exporters: NIRVIK
Export Credit Guarantee Corporation of India (ECGC) has introduced ‘NIRVIK’ scheme to ease the lending process and enhance loan availability for exporters.
- The details of the scheme were shared by Union Minister of Commerce and Industry and Railways, Piyush Goyal on September 16, 2019, during a press conference.
- The scheme was announced by the Finance Minister Nirmala Sitharaman on September 14 as a part of measures to boost exports.
Details
- The Export Credit Guarantee Corporation of India (ECGC) currently provides credit guarantee of up to 60 percent loss.
- The new Export Credit Insurance Scheme (ECIS) which has been named the NIRVIK scheme will raise the insurance cover guarantee to 90 percent coverage of the principal and interest.
- Half of the insurance cover will be provided within 30 days.
- The insurance cover will include both pre and post-shipment credit whereas in the present system two different documents are issued by the ECGC for both.
- Under the ‘NIRVIK’ scheme, gems, jewelry and diamond(GJD) sector borrowers with a limit of over Rs 80 crore will have a higher premium rate in comparison to the non-GJD sector borrowers of this category due to the higher loss ratio.
- The scheme is being introduced for a period of 5-years and when the time period is over, the standard ECGC covers will be made available to the Banks with its regular features.
- For accounts with limits below Rs 80 crore, the premium rates will be set at 60 per annum and for those exceeding Rs80 crore, the rates will be fixed at 0.72 per annum for the same enhanced cover.
- The inspection would be waived for up to ₹10 crore. But the inspection of bank documents and records by ECGC officials is mandatory in case of losses of more than Rs.10 crore as against the present Rs 1crore.
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Question no. 26-30 are to be answered based on the Paragraph:
Bushra Nazir from Jammu and Kashmir, shares "I am from a poor family. I wanted to do a job to support my family. But I was not able to find a way out. One day, a team of Mass Infotech Society visited my area and approached many youth including me for skill development training programme. They informed that they have started a job-linked skill development programme under "GoI" Scheme in our area, which gave me a ray of hope". After completing my studies up to class 12th, I was not able to study further because of financial problems. I was losing my hopes and enthusiasm. When a team of Mass Infotech Society visited our area and gave us the details of the scheme, I decided to join the skill development programme without any delay. I visited the Mass Infotech Centre at Bohri Kadal, Srinagar and got further details regarding the program. Considering my capabilities, the organization informed me about Banking & Accounting Trade. I was also informed that I would get training on soft skills, IT and personality development in addition. I joined the programme and did my training. It was a new experience for me. I enjoyed the training by participating in many activities. In classes I learned many things related to my sector. The classes on soft skills, computers and personality development helped me in grooming myself. After the training, the organization has helped me to get a job as an Accountant at Digital Computer Institute with monthly salary of Rs. 12300. Before this job, my family suffered a lot as my father was the only bread earner. I am very thankful to Ministry & Mass Infotech Society as they have taken up such a useful programme for economic empowerment of poor minorities. I wish this programme continues in Jammu and Kashmir which would provide a better option to the unemployed youth.
Q.26 Which of the following scheme has been referred in the above paragraph:
a. Nai Udaan Scheme
b. Seekho aur Kamao
c. Nai Roshni
d. Nai Manzil
Q.27 The referred scheme is implemented by which of the following ministry:
a. MoWCD
b. MoSJ&E
c. MoRD
d. MoMA
Q.28 The referred scheme is a Central Sector scheme implemented since …..for skill development of minorities:
a. 2013-14
b. 2004-05
c. 2010-11
d. 2016-17
Q.29 The scheme will be implemented for the benefit of the 6 (Six) notified minority communities under National Commission for Minorities Act 1992, which of the following is not a minority community
a. Muslims
b. Christians
c. Sikhs
d. Buddhists
e. Bhil
Q.30 Which of the following is not true about the scheme:
a. Minimum 33% seats will be reserved for minority girl/ women candidates in programme.
b. Priority will be given to organizations who would guarantee 75% overall placement percentage and out of that at least 50% placement should be in organized sector.
c. The trainee should be between 14-45 years of age.
d. The minimum qualification of trainee should be at least Class10th.
if you are able to answer the questions as given below then you are well prepared otherwise you need to work hard.
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