Energy
IREDA bags "Green Urja Award"

Relevance IN - Prelims ( about IREDA and its achievements + about Green Urja award + about ICC)
What's the NEWS

• Indian Renewable Energy Development Agency Ltd. IREDA has been conferred with "Green Urja Award" for being the Leading Public Institution in Financing Institution for Renewable Energy this year by Indian Chamber of Commerce (ICC).
• IREDA gets the award for the pivotal and developmental role it plays in Green Energy Financing.
• Despite of pandemic time, IREDA has ended the year 2020-21 ended on a strong note and disbursed the second highest (from the date of inception) amount of loan amounting to Rs. 8827 crore,
• IREDA under the administrative control of Ministry of New & Renewable Energy (MNRE) is the only dedicated institution for financing Renewable Energy (RE) & Energy Efficiency (EE) projects in India.
• Since, its inception the company has played a catalytic role in developing market for financing RE & EE projects.
• IREDA has over the years sanctioned loans aggregating to Rs. 96,601 crores, disbursed Rs. 63,492 cores and supported more than 17,586 MW of RE capacity in the country till date.

Indian Renewable Energy Development Agency Limited (IREDA)

• It is a Mini Ratna (Category - I) Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE).
• IREDA is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987 engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation with the motto: "ENERGY FOR EVER"
• IREDA has been notified as a "Public Financial Institution" under section 4 ‘A' of the Companies Act, 1956 and registered as Non-Banking Financial Company (NFBC) with Reserve Bank of India (RBI).
• IREDA's mission is "Be a pioneering, participant friendly and competitive institution for financing

The main objectives of IREDA are :

• To give financial support to specific projects and schemes for generating electricity and / or energy through new and renewable sources and conserving energy through energy efficiency.
• To maintain its position as a leading organisation to provide efficient and effective financing in renewable energy and energy efficiency / conservation projects.
• To increase IREDA`s share in the renewable energy sector by way of innovative financing.

Indian Chamber of Commerce (ICC)

• Founded in 1925, Indian Chamber of Commerce (ICC) is the leading and only National Chamber of Commerce having headquarter in Kolkata, and one of the most pro-active and forward-looking Chambers in the country
• Its membership spans some of the most prominent and major industrial groups in India.
• ICC's forte is its ability to anticipate the needs of the future, respond to challenges, and prepare the stakeholders in the economy to benefit from these changes and opportunities.
• Set up by a group of pioneering industrialists led by Mr G D Birla, the Indian Chamber of Commerce was closely associated with the Indian Freedom Movement, as the first organised voice of indigenous Indian Industry.

Social Issues
Seminar on Social infrastructure financing and use of digital technologies

Relevance IN - Prelims ( about the seminar highlights + about NDB) + Mains ( GS II Social issues - role of social infrastructure + GS III financial inclusion)
What's the NEWS

• The Department of Economic Affairs, Ministry of Finance, Government of India, and the New Development Bank (NDB) are jointly organising a virtual seminar on "Social Infrastructure Financing and use of Digital Technologies" as part of the Economic and Financial Cooperation Agenda under the Indian BRICS Chair ship, 2021.

Know! about the seminar highlights

• The COVID-19 Pandemic has reinforced the importance of investing in social infrastructure and underpinned the importance of leveraging Digital Technologies in both advanced and emerging economies.
• The challenges faced, are common to all, especially to the BRICS nations.
• There is a great potential in building sustainable mechanism to chart the way forward and share the common benefits associated with social, economic and digital development.
• This seminar will engage high-level participants from both public and private sector and will focus on the key issues surrounding social infrastructure financing and the use of Digital Technologies in the 21^st century.

During panel discussions and two thematic sessions, various topic such as

• the importance of investing in social infrastructure to promote sustainable development
• steps for tackling the challenges related to social infrastructure financing
• ways to de-risk the projects to enhance private sector participation
• the value of integrating digital technology into social infrastructure to enhance delivery of health and education in the post-COVID-19 recovery; and
• explore the range of viable models and instruments for financing social infrastructure in the BRICS countries, will be deliberated.

New Development Bank (NDB)

• It is a multilateral development bank established by the BRICS states (Brazil, Russia, India, China and South Africa).
• The Bank shall support public or private projects through loans, guarantees, equity participation and other financial instruments.
• The NDB "shall cooperate with international organizations and other financial entities, and provide technical assistance for projects to be supported by the Bank.
• The initial authorized capital of the bank is $100 billion divided into 1 million shares having a par value of $100,000 each.
• The initial subscribed capital of the NDB is $50 billion divided into paid-in shares ($10 billion) and callable shares ($40 billion).
• The initial subscribed capital of the bank was equally distributed among the founding members.
• The Agreement on the NDB specifies that every member will have one vote no one would have any veto powers .

Science & Technology
National Technology Day
Relevance IN - Prelims ( about National Technology Day and its significance + about TDB) + Mains ( GS III awareness in the field of science and technology)
What's the NEWS

• The National Technology Day celebrations highlighted an increase in entrepreneurship spirit to develop cost effective indigenous solutions.
• The day is a significant milestone in the history of India's technological innovations as India successfully tested nuclear bombs in Pokhran on May 11, 1998 and is commemorated every year by honouring the architects of such innovations.
• Awards are given to several innovators and entrepreneurs on this day every year.
• For the year 2021, Technology Development Board (TDB) invited application for National Awards under three categories and total 15 winners were selected after a stringent two-tier evaluation process with panellists being eminent scientists and technologists themselves.
• Every year, for furtherance of its mandate, TDB seeks applications for National awards for commercialization of technologies under three categories National Awards, MSME awards, and Startup awards.
• These awards are conferred to various industries for successful commercialization of innovative indigenous technology.
• This annual honour provides a platform of recognition to the Indian industries and their technology provider who work to bring innovation to the market and help in contributing to the vision of "Aatma Nirbhar Bharat".

Technology Development Board (TDB)

• TDB is a statutory body of Government of India functioning under Department of Science of Technology which provides financial assistance to Indian industrial concerns and other agencies, for commercialization of indigenized technologies or adaptation of imported technologies for wider domestic applications. Since its inception in 1996, TDB has funded more than 300 companies for commercialization of technologies.

The details of National Awards for the year 2020-21 under three categories are as follows: -

CATEGORY 1:
NATIONAL AWARD FOR SUCCESSFUL COMMERCIALIZATION OF INDIGENOUS TECHNOLOGY

• This award is given to an industrial concern which has successfully developed & commercialized an indigenous technology. In case, the technology developer / provider and the company commercializing the technology are two different organizations, each is eligible for award of Rs.25 Lakh and a trophy.

CATEGORY 2:
NATIONAL AWARD UNDER MSME CATEGORY

• The Award of Rs. 15 lakhs each in this category is given to selected SMEs that has successfully commercialized the product based on indigenous technology.

CATEGORY 3:
NATIONAL AWARD UNDER TECHNOLOGY START-UP CATEGORY

• This award is given to a technology start-up for promising new technology with potential for commercialization.
• The award in addition to the trophy includes a cash award of Rs.15 Lakh. This year ten start-ups have been selected for these awards.

Know! more about National Technology Day 2021

• This day serves as a reminder of India breaking into the elite group of nations with nuclear weapons.
• On May 11, 1998, India conducted three successful nuclear tests at the Indian Army's Pokhran Test Range in Rajasthan under Operation Shakti.
• Two more nuclear tests were conducted on May 13. The tests were led by late President Dr. APJ Abdul Kalam.
• The National Technology Day was observed for the first time on May 11, 1999.
• National Technology Day 2021 history takes us back to 1999, when then-Prime Minister Atal Bihari Vajpayee declared May 11 as a day of significant achievement for the country.
• The Technology Development Board ever since has been honouring scientists and engineers and their technological innovations that have added to the growth of India on this day.
• The mission was carried out by the Indian Army in collaboration with scientists from the Defence Research and Development Organisation (DRDO), Bhabha Atomic Research Centre (BARC), Atomic Minerals Directorate for Exploration and Research (AMDER).
• These tests made India capable of building thermonuclear weapons and fission bombs.
• Also on National Technology Day, India's first-ever indigenous aircraft, Hansa-1, took flight and the DRDO tested the surface-to-air Trishul missile. It is a short-range missile with a quick reaction time.
• The board announces a theme every year. The National Technology Day 2021 theme is "Science and Technology for a Sustainable Future".
• In 2020, the theme was ‘Rebooting the Economy through Science, Technology and Research Translations' titled ‘RESTART'.

Prelims Factoids
Joint CSR COVID- relief initiatives of NSFDC AND NBCFDC of M/o Social Justice & Empowerment

Relevance IN - Prelims ( about NSFDC+ NBCFDC)
What's the NEWS

• During the second wave of Covid-19 Pandemic (April-May 2021) as part of Joint CSR initiative of National Scheduled Castes Finance and Development Corporation and National Backward Classes Finance and Development Corporation (PSUs of Ministry of Social Justice and Empowerment, GOI) are conducting the following activities for providing relief to Covid - 19 patients and needy people affected due to lockdown.

National Scheduled Castes Finance & Development Corporation (NSFDC)

• The National Scheduled Castes Finance & Development Corporation (NSFDC) was set up in 1989 as a "Company not for profit" under Section 8 of the Companies Act 2013 [i.e. Section 25 (of the earlier) Companies Act, 1956] with the objective of financing income generating activities of SC beneficiaries living below Double the Poverty Line limits (presently Annual Family Income Rs.98,000/- for Rural Areas and Rs.1,20,000/- for Urban Areas).
• NSFDC assist the target group by way of loans, Skill Training, Entrepreneurship Development Programmes and Providing Marketing Support through State Channelizing Agencies (SCAs), RRBs, Public Sector Bank & Other Institutions.

National Backward Classes Finance & Development Corporation (NBCFDC)

• It was incorporated 13 January 1992 as a non profit company under the Ministry of Social Justice and Empowerment, Government of India to improve and develop the economic activities for the members of Backward Classes who are living below double the poverty line.
• The corporation can assist loan for their self-employment ventures in the sectors like agriculture, transport and service etc.
• NBCFDC also provides Micro Financing through SCAs/ Self Help Groups (SHGs).
• The corporation can assist a wide range of income generating activities to assist the poorer section of these classes in skill development and self-employment ventures under following broad sectors.

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