“Start-up India :Stand up India” , a new compaign launched by PM Narender modi on the eve of celebration of 69th Independence Day at Red Fort.
The Scheme is an initiative to promote bank finance for Start-ups (an entrepreneurial venture).
The campaign aims to boost entrepreneurship among the youth and to create employment in India.
Some other announcements include :
- Agriculture Ministry to be renamed as ‘Agriculture and Farmers’ Welfare Ministry’.
- Current practice of ‘interview-based’ selections to replace with online merit based recruiting for low-skilled government jobs.
- Under the Skill India and Digital India initiative government to provide package of incentives to manufacturing units.
- To provide houses and access to basic services to all and to make India a developed nation by 2022.
- Set deadline of 1000 days to connect 18,500 villages with electricity.
Ban on plastic use by Gujarat Govt.
- Gujarat’s first women CM Anandiben Patel announced it after unfurling the National Flag at the Independence Day ceremony in Mahisagar district of Gujarat.
- The ban was imposed keeping in view protection of environment, cleanliness and cattle health.
Union Finance Minister Arun Jaitley launched Mission Indradhanush for public sector banks to revamp functioning of public sector banks (PSBs).
Indradhanush Mission , seven point agenda:
The mission includes :
Appointments, Board of Bureau, capitalisation, de-stressing PSBs, empowerment, framework of accountability and governance reforms.
It aims to achieve the objective of economic growth revival through improving credit and minimising the political interference in the functioning of PSBs.
- Appointments: Selection of non-executive chairman in remaining 6 state owned PSBs till November 2015. Appointing MD & CEO of two PSBs as early as possible.
- Bank Board Bureau (BBB): It will be a body of ’eminent’ professionals to be selected within 6 months i.e. February 2015. It will become functional from Financial year 2016-17 i.e. form 1st April 2016.
- Capitalisation: Infuse 25,000 crore rupees of capital into debt-laden banks in this fiscal in phased manner. Out of this 20,000 crore rupees would be injected in August 2015. Rest 5,000 crore rupees will be performance based allocation to be allocated in the last quarter of 2016.
- De-stressing PSBs: To develop vibrant debt market for PSBs in order to reduce lending pressure on banks. Strengthen asset reconstruction of companies.
- Empowerment: Provide greater flexibility in hiring of manpower in PSBs.
- Framework of accountability: It will seek to streamline vigilance process for quick action in case major frauds and also include connivance of staff.
- Governance reforms in PSBs: Next Gyan Sangam (also known as the Banker’s Retreat) will be held from 14 to 16 January 2016. Employee Stock Option Plan (ESOP) will be initiated for top management.
Kerala becomes first state in the country to be declsred totally “Digital State”.
- It was announced by Kerala CM Oommen Chandy during his Independence Day speech held in the capital Thiruvananthapuram.
- This declaration was made considering the rapid digital strides of the state which has achieved 100 percent mobile connectivity, maximum digital banking, 75 percent e-literacy, broadband connectivity upto the Panchayat level, linking bank accounts with Aadhar cards and e-district plan in all districts.
With an aim to monitor key performance indicators of two dozen PSBs, union government decided to set up Bank Board Bureau (BBB).
- It was announced by Union Finance Minister Arun Jailtley as part of a seven-pronged revamp plan for PSBs dubbed as Indradhanush (rainbow) plan.
- BBB will start the functioning from 1st April 2015 and the selection of its member will start in the next six months.
- It will replace existing system Appointments Board in which appointments for top level jobs at PSBs are made by an appointments committee led by the Reserve Bank of India (RBI) Governor.
Archery World Cup : Ace Indian Archer Abhishek Verma wins gold medal defeating Esmaeli Ebadi of Iran.
- He hails from Delhi and earlier had won silver medal in the Asian Games.
- In the individual final held in Wroclaw in Poland he defeated Esmaeil Ebadi of Iran by 148-145 score in the five round match.
