Economy
e-RUPI

Relevance IN -Prelims ( all about e-RUPI) + Mains ( GS III Economic development + financial inclusion)
What's the NEWS

• Prime Minister Narendra Modi will launch an electronic voucher based digital payment system "e-RUPI"
• The platform, which has been developed by the National Payments Corporation of India (NPCI), Department of Financial Services, Ministry of Health and Family Welfare and the National Health Authority, will be a person-specific and purpose-specific payments system.

Know! all about e-RUPI work

• e-RUPI is a cashless and contactless digital payments medium, which will be delivered to mobile phones of beneficiaries in form of an SMS-string or a QR code.
• This will essentially be like a prepaid gift-voucher that will be redeemable at specific accepting centres without any credit or debit card, a mobile app or internet banking.
• e-RUPI will connect the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface.
• The system has been built by NPCI on its UPI platform, and has onboarded banks that will be the issuing entities.
• Any corporate or government agency will have to approach the partner banks, which are both private and public-sector lenders, with the details of specific persons and the purpose for which payments have to be made.
• The beneficiaries will be identified using their mobile number and a voucher allocated by a bank to the service provider in the name of a given person would only be delivered to that person.
• It also ensures that the payment to the service provider is made only after the transaction is completed.
• Being pre-paid in nature, it assures timely payment to the service provider without involvement of any intermediary.

Benefits

• e-RUPI is expected to ensure a leak-proof delivery of welfare services.
• It can also be used for delivering services under schemes meant for providing drugs and nutritional support under Mother and Child welfare schemes, TB eradication programmes, drugs & diagnostics under schemes like Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, fertiliser subsidies etc.
• The private sector can leverage these digital vouchers as part of their employee welfare and corporate social responsibility programmes.

e-RUPI v/s digital currency

• e-RUPI is still backed by the existing Indian rupee as the underlying asset and specificity of its purpose makes it different to a virtual currency and puts it closer to a voucher-based payment system.
• The Reserve Bank of India had recently said that it has been working towards a phased implementation strategy for central bank digital currency or CBDC - digital currencies issued by a central bank that generally take on a digital form of the nation's existing fiat currency such as the rupee.
• CBDCs are conceptually similar to currency notes, the introduction of CBDC would involve changes to the enabling legal framework since the current provisions are primarily synced for currency in paper form.

Ministry of Commerce & Industry
Patent and Copyright Registration in India
Relevance IN - Prelims ( about the role of CGPDTM + facts about Patent and copyright registrations in India) + Mains ( GS II issues related to IPR - Steps taken by the government)
What's the NEWS

• The Ministry of Commerce & Industry reviewed the functioning of the Office of Controller General of Patents, Designs and Trademarks in Mumbai yesterday and deliberated on ways to build a robust Intellectual Property Rights infrastructure.

Intellectual Property Rights infrastructure -ACHIEVEMENTS and STEPS TAKEN

• Filing fees for Startups, MSMEs, Women entrepreneurs has been reduced by 80%.
• Every application is now processed online from start to finish, hearings are conducted on phones, people don't have to travel to patent offices now.
• IP process has been simplified and streamlined
• Special care is being given to expedite examination of patents filed especially for applications filed by Startups, Women Entrepreneurs etc.
• E-filing has increased from 30 % to more than 95%.
• India has also seen a rapid increase in grant of patents, copyrights in the last 5-6 years.
• The number of patents granted has gone up from 6,326 in 2015-16 to 28,391 in 2020-21, while Trade Marks registration has shot up from 65,045 in 2015-16 to 2,55,993 in 2020-21.
• Similarly, while 4,505 Copyrights were granted in 2015-16, a total of 16,402 were granted last fiscal.
• These developments have reflected positively in improvement of India's ranking in Global Innovation Index.
• India has climbed 33 notches from 81st position in 2015-16 to 48th in 2020.

Know! about bout the Office of Controller General of Patents, Designs and Trademarks

• The Office of the Controller General of Patents, Designs & Trade Marks (CGPDTM) is located at Mumbai.
• It functions under the Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry.
• The Controller General supervises the working of the Patents Act, 1970, the Designs Act, 2000 and the Trade Marks Act, 1999 and also renders advice to the Government on matters relating to these subjects.
• The Head Office of the ‘Patent office' is in Kolkata, ‘Trade Mark Registry' is in Mumbai and the ‘GI Registry' is in Chennai.
• The Offices of ‘The Patent Information System' (PIS) and ‘National Institute of Intellectual Property Management' (NIIPM) are at Nagpur.

Social Issues
Samajik Adhikarita Shivir

Relevance IN - Prelims ( about Samajik Adhikarita Shivir + about ALIMCO + ADIP) + Mains ( GS II Social issues)
What's the NEWS

• A ‘Samajik Adhikarita Shivir' for distribution of aids and assistive devices to ‘Divyangjan' under the ADIP Scheme and to Senior Citizens under the ‘Rashtriya Vayoshri Yojana' of the Ministry of Social Justice and Empowerment, Government of India was organized by the Department of Empowerment of Persons with Disabilities (DEPwD in association with ALIMCO

Know! about these camps

• The camps are conducted under the Scheme of Assistance to Disabled Persons (ADIP) for Purchase/Fitting of Aid/Appliances (ADIP) is one of the most popular scheme for providing assistive aids & appliance to Divyangjans and Rashtriya Vayoshri Yojana for providing daily living assistive devices for senior citizens and is organized by Artificial Limbs Manufacturing Corporation of India (ALIMCO), a Public Sector Undertaking under the Ministry of Social Justice and Empowerment has been identified as the implementing agency of the ADIP scheme in association with States/districts authorities.

Minister of Social Justice and Empowerment

• It is responsible for the well-being, social justice and empowerment of socially disadvantaged and marginalized groups, including other backward classes (OBC), scheduled castes (SC), transgender and LGBTQ people, the disabled, the elderly and drug abuse victims.

Scheme of Assistance to Disabled Persons for Purchase/Fitting of Aids and Appliances (ADIP Scheme)

• The ADIP Scheme is in operation since 1981 with the main objective to assist the needy disabled persons in procuring durable, sophisticated and scientifically manufactured, modern, standard aids and appliances that can promote their physical, social and psychological rehabilitation by reducing the effects of disabilities and enhance their economic potential.

• The scheme also envisages conduct of corrective surgeries, wherever required, before providing an assistive device.

• Under the Scheme, grants-in-aid are released to various implementing agencies (Artificial Limbs Manufacturing Corporation of India (ALIMCO)/National Institutes/Composite Regional Centres/District Disability Rehabilitation Centres/ State Handicapped Development Corporations/ NGOs, etc.) for purchase and distribution of aids and assistive devices.

Artificial Limbs Manufacturing Corporation of India (ALIMCO)

• It is a Schedule ‘C' Miniratna Category II Central Public Sector Enterprises, registered under Section 8 (Not for Profit motive) of the Companies Act 2013, (corresponding to Section 25 of the Companies Act, 1956) is functioning under the Administrative Control of Ministry of Social Justice & Empowerment, Department of Empowerment of Persons with Disabilities.

• It is 100% owned Govt. of India Central Public Sector Enterprises with an objective of benefiting the persons with disability to the maximum extent possible by manufacturing Rehabilitation Aids for persons with disabilities and by promoting, encouraging and developing the availability, use, supply and distribution of Artificial Limbs and other Rehabilitation Aids to the disabled persons of the country.

• Profitability is not the motive of the operations of the Corporation and its main thrust is in providing better quality of Aids & Appliances to larger number of disabled persons at reasonable price.
• The Corporation started manufacturing artificial aids in 1976. It has four Auxiliary Production Centres (AAPCs) situated at Bhubaneswar (Orissa), Jabalpur (M.P.), Bengaluru (Karnataka), Chanalon (Punjab) and Ujjain.
• The Corporation is the only manufacturing company producing various types of assistive devices under one roof to serve all types of disabilities across the country.

Economy
RBI cancels licence of Goa-based co-op bank
Relevance IN - Prelims ( about the provisions of DICGC act and banking regulation act 1949) + Mains ( GS III Economic development
What's the NEWS

• Reserve Bank of India (RBI) has cancelled the licence of Goa-based Madgaum Urban Cooperative Bank, with effect from July 29, 2021.
• The Madgaum Urban Co-operative Bank Limited, Margao, Goa is prohibited from conducting the business of ‘banking' which includes acceptance of deposits and repayment of deposits as defined in Section 5(b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect

Reasons for cancelling the bank's licence

• The bank does not have adequate capital and earning prospects.
• The bank has failed to comply with the requirements of the Banking Regulation Act, 1949
• With this, the bank will not be able to accept deposits or make payments.

To return depositor's Money

• With the RBI action against Madgaum Urban Co-operative Bank, the process to return the money of depositors will be set in motion.
• As per the data submitted by the bank, about 99 per cent of the depositors will receive full amounts of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC)
• On liquidation, every depositor is entitled to receive deposit insurance claim amount of their deposits up to a monetary ceiling of Rs.5 lakh from the DICGC, subject to the provisions of the DICGC Act, 1961.
• The Reserve Bank of India added that it also asked the Goa Registrar of Cooperatives to issue a liquidation order and appoint a liquidator for the bank.

Cabinet Approves Bank Deposit Insurance Payout Within 90 Days
What's the NEWS

• The Union Cabinet approved amendment to the Deposit Insurance Credit Guarantee Corporation or DICGC Act to provide account holders access to up to Rs 5 lakh funds within 90 days of a bank coming under moratorium to ensure timely support to depositors.
• Each depositors bank deposit is insured upto Rs 5 lakh in each bank for both principal and interest.
• This will cover 98.3% of all deposit accounts.
• The government also approved amendments to the Limited Liability Partnership (LLP) Act, including decriminalising 12 offences under the law.

Know! about the new and old provisions of DICGC Act

• Earlier, account holders had to wait for years till the liquidation or restructuring of a distressed lender to get their deposits that are insured against default.
• The government has also permitted raising the deposit insurance premium by 20 per cent immediately, and maximum by 50 per cent.
• The premium is paid by banks to the DICGC.
• The Centre plans to introduce the Deposit Insurance & Credit Guarantee Corporation (Amendment) Bill 2021 in the ongoing Monsoon session of Parliament.
• The current Rs 5-lakh deposit insurance cover was raised from Rs 1 lakh in the year 2020.
• Depositors normally have to wait for 8 to 10 years for the liquidation of a distressed bank before they receive their fund deposits.
• With the change in rule, depositors within 90 days will get insurance money without having to wait for the distressed banks to get liquidated.
• With the bank being put under moratorium, in the first 45 days, DICGC will collect all deposit accounts related information's.
• Then in the next 45 days, the information will be reviewed and depositors will be repaid within 90 days.
• Currently, as premium for insurance cover, banks pay 10 paisa on every Rs 100 worth deposits to the DICGC. This is being raised to 12 paisa on every Rs 100.

Know! about DICGC

• DICGC is a fully owned subsidiary of the Reserve Bank of India (RBI) and was established in the year 1978.
• DICGC insures deposits in private and public banks, small finance banks, local area banks, cooperative banks, regional rural banks, payment banks as well as Indian branches of foreign banks.
• DICGC insures all the banks functioning in India

Science & Technology
New Polyhouse Technology for Horticulture CROPS

Relevance IN - Prelims ( about Retractable Roof Polyhouse Technology)
What's the NEWS

• Conventional Polyhouse have a stationary roof to reduce the effect of weather anomalies and pests.
• However, there are still disadvantages due to roof covering which sometimes lead to excessive heat, and insufficient light (early morning).
• A combination of open field conditions and conventional Polyhouse conditions is a more robust way to deal with the climate change and associates problems in the future.

Retractable Roof Polyhouse Technology

• This all-weather structure will have an automatic retractable roof which will be operated based on weather conditions and crop requirements from the conditional database using PLC software.
• This ongoing development will help farmers to cultivate both seasonal and off-season crops which can fetch higher yield, firmer and high shelf-life produce by creating optimal indoor micro-climate conditions compared to conventional open field tunnels & naturally ventilated poly houses, and also it is viable technology for organic cultivation.
• The retractable roof will be used to manipulate sun light quantity, quality & duration, water stress, humidity, carbon di-oxide levels, and crop & soil temperatures.
• This structure is being developed in collaboration with CSIR-IHBT, Palampur and in the process of integrating Artificial Intelligence in automating the Polyhouse based on the crop and weather requirements and providing an IoT enabled farmer friendly user interface.

Krishikarna project

• It is a mini polyhouse [polyhouse is a type of greenhouse]
• It is a project to promote hi-tech farming, launched in Pallikkal panchayat of Thiruvananthapuram
• Mini polyhouse which is a kind of greenhouse will be built under the "Krishikarna" project, launched in Kerala
• It is a joint initiative of the National Society for Agricultural Horticulture (SAHS), the Sustainability Foundation and Qore3 Innovations.
• Under Krishikarna, a small polyhouse will be built on a 2.5 cent land.
• The total estimated cost of each plastic house is Rs 2,35,000.
• The plan is to plant Long beans, tomatoes, salad cucumbers, bell peppers, bell peppers, and green leafy vegetables at the mini polyhouses which will be constructed.
• Krishikarna covers greenhouses, fish and vegetables and mushroom farming.

NITI Aayog
ATL Tinkerpreneur Bootcamp
Relevance IN - Prelims ( about ATL Tinkerpreneur summer bootcamp - highlights)
What's the NEWS

• Atal Innovation Mission (AIM), NITI Aayog successfully completed two month long and a first of its kind, digital skills and an exclusive entrepreneurship ATL Tinkerpreneur summer bootcamp held across the country.
  
  

Know! about the bootcamp

• Designed for high school students across the nation, ‘ATL Tinkerpreneur' saw a record-breaking 9000+ participants (including 4000+ girl participants) across 32 states and 298 districts.
• The Bootcamp witnessed participation from 820 ATLs, 50+ live expert speaker sessions were conducted with over 4.5 lakh views and imparted 30+ digital and entrepreneurial skills.
•  ‘Tinkerpreneur' - the name derived from the phrase ‘enabling students to tinker from the comfort of their homes and become an entrepreneur this summer' was a bootcamp focussed on cultivating a hands-on innovative mindset among students.
• ATL Tinkerpreneur' enabled the participants to develop a business idea and create an end-to-end strategy for setting up a new venture.
• Over the course of the bootcamp, the participants learnt the required digital skills, created and developed a business model around a digital product, generated a marketing plan, developed/established an online store, learnt business finance and culminated it by presenting their pitch deck in front of Industry experts.
• Students along with their ATL in-charges were mapped in small groups with Mentors-of-Change.
• All those who registered got access to a repository of digital and entrepreneurial curated learning resources, do-it-yourself content, simple assignments etc. to empower the participants to create their own digital products and ventures.
• The whole bootcamp was designed to instil an innovative mindset as well as to help students go from an idea to a venture in a short time, by trying, failing and trying again
• An exclusive Tinkerpreneur web portal was also created with a curated 9-week content for self-paced learning.
• The portal enabled the students to submit quizzes, assignments and enabled the mentors to review student assignments and share feedback.

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