RBI| NABARD| SEBI Current Affairs: 1-3 Feb 2020

Economy

NSO Revised down the GDP growth:

  • NSO has revised estimate of economic growth in the last three years, pegging actual GDP growth in 2018-19 at 6.1% instead of the 6.8% provisional estimate reported earlier.
  • Real GDP/ GDP at constant (2011-12) prices for the years 2018-19 and 2017-18 stands at Rs 139.81 lakh crore and 131.75 lakh crore respectively showing growth of 6.1% during 2018-19 and 7% during 2017-18.
  • In terms of Gross Value Added (GVA), the economy grew at 6% in 2018-19 as opposed to 6.6% estimated earlier, with primary secotr GVA growth pared from 2.7% estimated earlier to 1%.

Core Inflation:

  • Growth of the eight core industries recovered to 1.3% in December 2019 after remaining in the negative zone in the previous four months.
  • The growth is however lower than 2.1% recorded in December 2018.
  • Coal, refinery products and fertilizer recorded positive, while crude, natural gas and electricity contracted, whereas steel and cement slowed down.
International Relations:

Beijing +25:

  • In 1995 Fourth World Conference on Women was held in Beijing,
  • It was a critical turning point in the world’s focus on Gender equality and the empowerment of women.
  • 2020 marks the twenty-fifth anniversary of the Fourth World Conference on Women and adoption of the Beijing Declaration and Platform for Action (1995), (Beijing + 25).
  • On the occasion, the National Commission for Women (NCW) and UN Women organized a National Consultation on the Review of Beijing+25, to galvanize all stakeholders to implement actions that remove the most conspicuous barriers to gender equality.
  • The aim of the consultation was to bring together civil society and the women and youth of India, gender equality advocates from all walks of life, in a national public conversation on the urgent actions that need to be taken for the realisation of gender equality.
Insurance: IRDAI Regulations

Recommendations on Micro-insurance:

  • Committee said, micro-insurance products should be simple so as to be easily conveyed by the distributor and understood by the customer.
  • The gives and gets should be clearly understood by the customer.
  • There should be an option to pay single premium in daily, fortnightly, monthly and quarterly instalments.
  • Customers should be allowed to pay mortality premium in lump sum with remaining premiums to be allowed to be paid in instalments.
  • The panel also recommended the requirement of waiver of stamp duty on micro-insurance products.
  • It also vouched for the e-kyc process to reduce cost and ensure smooth on-boarding and claims settlement processes.
  • Digital signatures should be encouraged.
Environment:

Wetland Conservation:

  • Wetlands are regulated under the Wetlands (Conservation and Management) Rules, 2017.
  • 2017 rules have replaced Central Wetland Regulatory Authority formed in 2010 with state-level bodies and created a National Wetlands Committee, which functions in an advisory role.
  • The newer regulations removed some items from the definition of “wetlands” including backwaters, lagoon, creeks, and estuaries.
  • We have a total of 7,57,060 wetlands, covering 1.6 crore hectare or 4.5% of India’s area.
    Wetlands Under Ramsar:
  • Under Ramsar list wetlands are designated as “Wetlands of International Importance”.
  • they are recognised as being of significant value not only for the country or the countries in which they are located, but for humanity as a whole.
  • Under Ramsar various steps are taken to conserve the ecological character of the wetland.
  • The selection is made on the basis of various criteria defined under the convention. Article 2.2 says: “Wetlands should be selected for the List on account of their international significance in terms of ecology, botany, zoology, limnology or hydrology.”
  • There are currently over 2,300 Ramsar Sites around the world.

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