PIB Summary and Analysis for UPSC Exam: 19 June 2019

Read the daily PIB update and stay up-to-date on current affairs for the UPSC exam.

June 19th 2019 PIB:-Download PDF Here

Government to support to Small Traders and Retailers

Context

Union Minister of Commerce and Industry & Railways, Piyush Goyal, held a meeting with representatives of associations of kirana stores, traders and retailers
Minister urged small retailers, kirana stores to make use of modern technology and avail benefits of Government of India schemes like MUDRA to improve their business.
Minister reiterated that India will not allow multi-brand retail by foreign companies and on the pretext of B2B no entry will be allowed for multi-brand retail.

MUDRA

Micro Units Development and Refinance Agency Bank (or MUDRA Bank) is a public sector financial institution in India
It provides loans at low rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs.

Pradhan Mantri MUDRA Yojana

Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched for providing loans upto 10 lakh to the non-corporate, non-farm small/micro enterprises.
These loans are classified as MUDRA loans under PMMY. These loans are given by Commercial Banks, RRBs, Small Finance Banks, Cooperative Banks, MFIs and NBFCs.
The borrower can approach any of the lending institutions mentioned above or can apply online through the portal.
Under the aegis of PMMY, MUDRA has created three products namely:

This is to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur and also provide a reference point for the next phase of graduation / growth.

Context

A major decision to facilitate the solar and wind energy projects, Union Minister has approved a proposal to set up a Dispute Resolution Committee to consider the unforeseen disputes between solar/wind power developers and SECI/NTPC, beyond contractual agreement.

Significance of the decision

The Solar and Wind Industry have been demanding setting up of Dispute Resolution Mechanism by MNRE for quite some time
The issue was considered and it was felt that there is need to erect a transparent, unbiased Dispute Resolution Mechanism, consisting of an independent, transparent and unbiased Dispute Resolution Committee (DRC)

About the committee

A three member Dispute Resolution Committee (DRC) will be set up with the approval of Hon’ble Minister (NRE), consisting of eminent persons of impeccable integrity.
The mechanism of Dispute Resolution Committee (DRC) will be applicable for all solar/ wind Schemes/ Programmes/ Projects being implemented through/ by SECI/ NTPC.

In order to give a boost to Battery-Operated or Electric Vehicles in the country, the Ministry of Road Transport and Highways has initiated steps for providing for differential registration fees under the Central Motor Vehicles Rules 1989.
The amendment proposes to exempt Battery Operated Vehicles from payment of fees for the purpose of issue or renewal of registration certificate and assignment of new registration mark.
This means that Electric Vehicles would be exempted from such registration charges.

Also Read:

Pradhan Mantri MUDRA Yojana

June 19th 2019 PIB:-Download PDF Here

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