Current Affairs search results for tag: government-schemes

1. MuleHunter.ai

Tags: Government Schemes

MuleHunter.ai

Why in the news?

• The Reserve Bank of India (RBI) hasdeveloped an AI/ML-based model called MuleHunter.ai to tackle the issue of mule accounts, which are used for financial fraud.

What is MuleHunter.ai ?

• TheReserve Bank of India Innovation Hub (RBIH) has introduced MuleHunterAI, an advanced AI/ML modeldesigned to help banks and financial institutions detect and mitigate mule accounts.
• Unlike traditional systems that often produce false alarms, MuleHunter.AI uses machine learning to quickly and accurately identify suspicious accounts by tracking illicit fund flows. 

Significance:

• This innovative approach helps banks detect fraud more effectively and efficiently, enhancing the security of India's financial ecosystem. 
• Early results show it significantly improves detection rates, marking a major step in the fight against financial crime.
•  "RBIH has developed an in-house AI/ML-based solution which is better suited than a rule-based system to identify suspected mule accounts. 
• Advanced ML algorithms can analyse transaction and account detail related datasets to predict mule accounts with higher accuracy and greater speed than typical rule-based systems.
•  This machine learning based approach has enabled the detection of more mule accounts within a bank’s system.

What is a mule account?

• A mule account is a bank account used by criminals to launder illicit funds, often set up by unsuspecting individuals lured by promises of easy money or coerced into participation. 
• The transfer of funds throughthese highly interconnected accounts makes it difficult to trace and recover the funds.
• These accounts help criminals launder money from cybercrimes.
•  According to the National Crime Records Bureau(NCRB), onlinefinancial frauds account for 67.8 percent of cybercrime complaints, highlighting the critical need for effective AI-based fraud prevention solutions.
• Mule account caseshave been on the rise, and a whopping 53% of the total fraud threats tofinancial institutions were caused by money mules in 2023.
•  Despite government and regulatory bodies actively working to fight this, cybercriminals continue to come up with innovative ways to circumvent the law and pursue money laundering activities. 

2. Centre approves 12 new industrial smart city projects.

Tags: Government Schemes

Centre approves 12 new industrial smart city projects.

Why in the news?

• The Government of India has approved 12 new industrial smart city projects with a total project cost of Rs. 28,602 crore (including land cost) for development of trunk infrastructure packages.

Important points:

• As per the approved institutional & financial framework of Industrial Corridor Programme,State Govt provides land and Government of India through National Industrial Corridor Development and Implementation Trust (NICDIT) provides the equity for development of internal trunk infrastructure components.
• Each industrial city/area/node under the National Industrial Corridor Development Program is managed by a Special Purpose Vehicle (SPV).
•  SPV may have suitable representation from the private sector wherever the State Government decides to involve the private sector.
•  It is also authorized to leverage innovative infrastructure funding and delivery tools such as user fee funding, pricing innovations, and delivery through various PPP arrangements for development of industrial smart cities. 
• The State Government, as deemed appropriate, may also seek bi-lateral/multilateral funding for this purpose.
• Focus sectors are defined differently for different industrial smart cities. The process involves preparation of a market demand assessment report for defining focus sectors. 
• Some of the focus sectors are Heavy Engineering, Auto & Ancillaries, General manufacturing, Pharma & Bio Tech, Electronics Industries, IT& ITES, Agro, Food processing, Computer, Electronic & Optical Products, Aerospace, Rubbers & Plastic, Fabricated Metal Products, R&D, ICT, Electronics Industries, Fabrications (semiconductors), Nanotechnology & Opto electronics.

3. Shri Dharmendra Pradhan launches PMeVIDYA DTH 24x7 Channel No. 31 for Indian Sign Language.

Tags: Government Schemes

Shri Dharmendra Pradhan launches PMeVIDYA DTH 24x7 Channel No. 31 for Indian Sign Language.

Why in the news?

• Union Minister for Education Shri Dharmendra Pradhan launched thePMeVIDYA DTH 24x7 Channel No. 31 for Indian Sign Language (ISL) today in New Delhi. 

About PM e-Vidya channel :

• An exclusive PM e-Vidya channel devoted to the promotion of the Indian Sign Language has been conceptualised to promote ISL as a language as well as a school subject, so that the larger population has access to learning the language. 
• This 24x7 Channel will disseminate learning content for school children (Central & State Curriculum), teachers, teacher educators and other stakeholders in the area of career guidance, skill training, mental health, class-wise curricular content, communication skills, as well aspromotion of Sign Language as a language subject, just like verbal languages like Hindi, English etc., for all. 
• The content will also be available on YouTube.

Significance:

• This critical initiative supports the objectives of the National Education Policy (NEP) 2020, which recommends promotion of Indian Sign Language to foster a more inclusive educational environment.
• Para 4.22 of NEP states that ‘Indian Sign Language (ISL) will be standardized across the country, and National and State curriculum materials developed, for use by students with hearing impairment. Local sign languages will be respected and taught as well, where possible and relevant.’
• Channel 31 to help unlock unmatched talent and bridge the gap between the hearing-impaired and hearing world.
• Empowering individuals through Indian Sign Language is the need of the hour to build a truly inclusive and progressive society

4. World's Largest Grain Storage Plan

Tags: Government Schemes

World's Largest Grain Storage Plan

Why in the news?

• The Minister of Cooperation, Shri Amit Shahin a written reply to a question in the Rajya Sabha tells that under the Pilot Project, construction of 11 storage godowns in 11 PACS of 11 States with a total of 9,750 MT storage capacity has been completed. 

About World's Largest Grain Storage Plan:

• Under the Pilot Project of World’s Largest Grain Storage Plan in cooperative sector, godowns at Primary Agricultural Credit Societies (PACS) level have been constructed in 11 PACS of 11 States namely Maharashtra, Uttar Pradesh, Tamil Nadu, Karnataka, Gujarat, Madhya Pradesh, Uttarakhand, Assam, Telangana, Tripura and Rajasthan, with the support of National Cooperative Development Corporation (NCDC), National Bank for Agriculture and Rural Development (NABARD) & NABARD Consultancy Services (NABCONS). 
• Out of 11 constructed storage 3 have been kept by PACS for their own use in the state of Maharashtra, Rajasthan and Telangana. 3 have been hired by State/Central agencies in the State of Uttar Pradesh, Madhya Pradesh and Gujarat.
• Further, the Pilot Project has been extended and more than 500 additional PACS have been identified as on 21.11.2024 across the country for construction of godowns under World’s Largest Grain Storage Plan in Cooperative Sector.

Important points:

• Under the Plan, subsidies and interest subvention are given to PACS through convergence of various existing Government of India schemes, like Agriculture Infrastructure Fund (AIF), Agricultural Marketing Infrastructure Scheme (AMI), etc. 
• Under AIF Scheme3% interest subvention is provided for the project up to Rs. 2 crore with loan repayment period of 2+5 years.
•  Further, under AMI Scheme 33.33% subsidy is provided to PACS for construction of storage units. Moreover, under the AMI scheme Margin Money requirement for PACS has been reduced from 20% to 10%.
• Apart from assistance for Storage Infrastructure on Capital Cost (including ancillaries like Boundary Wall, Drainage, etc.), now there is additional subsidy to PACS on ancillaries that is restricted to a maximum 1/3rd of the total permissible subsidy of the godown component or actual whichever is lower.

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5. 4G MOBILE SERVICES IN ASPIRATIONAL DISTRICTS

Tags: Government Schemes

4G MOBILE SERVICES IN ASPIRATIONAL DISTRICTS

Why in the news?

• The Union Cabinet has approved a scheme for provisioning of 4G Mobile services in 7287 uncovered villages of Aspirational Districts of Andhra Pradesh, Chhattisgarh, Maharashtra, Jharkhand & Odisha by installation of 4,779 mobile towers.

What is the objective of the project?

• Above project aims to provide mobile coverage in all such villages in a phased manner. As on 31.10.2024, 2,177 mobile towers have been commissioned covering 3,352 villages.

About ASPIRATIONAL DISTRICTS:

• The Aspirational Districts Programme (ADP) is an initiative by the Government of India to improve the socio-economic status of some of the country's most underdeveloped districts.
• The program's goal is to transform these districts through collaboration, convergence, and competition:
• The ADP waslaunched in January 2018.
•  The program initially identified 112 ADs across 27 states.
•  The program is primarily driven by the states, which focus on each district's strengths and prioritize immediate improvements 

6. 'Bal Vivah Mukt Bharat' Campaign

Tags: Government Schemes

'Bal Vivah Mukt Bharat' Campaign

Why in news?

• In a significant step towards eradicating child marriage and empowering young girls across the nation, the Union Minister for Women and Child Development, Smt. Annapurna Devi, launched the national campaign “Bal Vivah Mukt Bharat” today in New Delhi. 

Important points:

• As part of the campaign, the Minister also inaugurated the Child Marriage Free Bharat Portal, an innovative online platform that enables citizens to report child marriage incidents, file complaints, and access information about Child Marriage Prohibition Officers (CMPOs) nationwide. 
• The portal is a significant step in empowering citizens and enforcing the Prohibition of Child Marriage Act, 2006.

Significance:

• This campaign aims to empower our daughters by ensuring they receive the education, health, and protection they deserve. 
• In line with the National Education Policy 2020, which prioritizes gender equality, our government continues to implement initiatives that support girls' education and social empowerment. 
• The launch of this campaign is not just an event; it is a mission to eradicate child marriage and empower every daughter in our nation. 
• This will  ensure that every girl is educated, safe, and free to pursue her dreams.

7. Government announces ₹1,435 crore PAN 2.0 Project.

Tags: Government Schemes

Government announces ₹1,435 crore PAN 2.0 Project.

Why in the news?

• The government on November 25, 2024 announced the PAN 2.0 Project of the Income Tax Department with a financial outlay of Rs.1,435 crore.

What is PAN?

• Permanent Account Number (PAN) is aten-digit alpha-numeric number,issued in the form of a laminated card, by the Income Tax Department, to any “person” who applies for it or to whom the department allots the number without an application.

What is the PAN 2.0 Project?

• The PAN 2.0 Project represents an electronic governance initiative aimed at modernising taxpayer registration services. 
• The PAN 2.0 upgrade introduces an enhanced dynamic QR code that reflects current information from the PAN database. 
• The QR code serves as a verification tool to confirm PAN details and establish authenticity. Users can access aspecific QR reader application for verification purposes.
• Upon scanning, the application displays essential information including the cardholder's photograph, signature, name, parental details, and date of birth. 

Objectives:

• This initiative focuses on improving PAN services through contemporary technological solutions. The project consolidates all PAN-related processes, including allotment, updates and modifications, whilst incorporating TAN services into its framework.
• Additionally, the project will offer online PAN authentication and validation services to various organisations, including financial institutions, banks, government bodies, and both central and state government departments.

How is PAN 2.0 different from existing PAN?

• The new PAN 2.0 Project will unify all PAN/TAN services onto a single portal.
• The system will transition from the current procedures to a completely online, paperless operational framework.
• PAN allocation, modifications, and corrections will be provided at no cost, with e-PAN documents delivered to registered email addresses.

8. PM to launch UN International Year of Cooperatives 2025.

Tags: Government Schemes

PM to launch UN International Year of Cooperatives 2025.

Why in news?

• Prime Minister Shri Narendra Modi will inaugurate ICA Global Cooperative Conference 2024 and launch the UN International Year of Cooperatives 2025 on 25th November at around 3 PM at Bharat Mandapam, New Delhi.

Important points:

• ICA Global Cooperative Conference and ICA General Assembly is being organised in India for the first time in the 130 year long history of International Cooperative Alliance (ICA), the premier body for the Global Cooperative movement.
• The Global Conference, hosted by Indian Farmers Fertiliser Cooperative Limited (IFFCO), in collaboration with ICA and Government of India, and Indian Cooperatives AMUL and KRIBHCO will be held from 25th to 30th November.
• Prime Minister will also launch acommemorative postal stamp, symbolizing India’s commitment to the cooperative movement. 
• The stamp showcases a lotus, symbolising peace, strength, resilience, and growth, reflecting the cooperative values of sustainability and community development.
• The five petals of the lotus represent the five elements of nature (Panchatatva), highlighting cooperatives' commitment to environmental, social, and economic sustainability. 
• The design also incorporates sectors like agriculture, dairy, fisheries, consumer cooperatives, and housing, with a drone symbolising the role of modern technology in agriculture.

Theme:

• The theme of the conference, "Cooperatives Build Prosperity for All," aligns with the Indian Government’s vision of “Sahkar Se Samriddhi” (Prosperity through Cooperation). 

Significance:

• The event will feature discussions, panel sessions, and workshops, addressing the challenges and opportunities faced by cooperatives worldwide in achieving the United Nations Sustainable Development Goals (SDGs), particularly in areas such as poverty alleviation, gender equality, and sustainable economic growth.

9. Cabinet clears PM-Vidyalaxmi scheme for collateral-free loans to students on 6th November,2024.

Tags: Government Schemes

PM-Vidyalaxmi Scheme

Why in news?

• Cabinet clearsPM-Vidyalaxmi schemefor collateral-free loans to students on 6th November,2024.
• An outlay of Rs 3,600 crore has been made for the scheme for 2024-25 to 2030-31 period and around 7 lakh fresh students are expected to benefit from the interest subvention offered under the scheme.

Aim:

• Facilitate to get  admission in Quality Higher Education Institutions (QHEIs) eligible for a collateral-free and guarantor-free education loan.

Key features:

• Students will be provided a 75% credit guarantee by the central government for loans up to Rs 7.5 lakh. 
• Students, with an annual family income of up to Rs 8 lakh,who are ineligible for benefits under any other government scholarship or interest subvention schemes, will beprovided 3% interest subvention for loan up to Rs 10 lakhduring the moratorium period.
• “The interest subvention support will be given to 1 lakh students every year.
• It will be a significant step towards empowering the Yuva Shakti and building a brighter future for our nation,” 

   

10. PM E-DRIVE Scheme

Tags: Government Schemes

PM E-DRIVE Scheme

Why in news?

• Recently it was seen that Electric Vehicle Sales are Soaring.
• Through initiatives like the Electric Mobility Promotion Scheme (EMPS) and the PM E-DRIVE schemes, electric two-wheelers (e-2W) sales have surged to 5,71,411 units in 2024-25.
•  During the same period, sales of electric three-wheelers (e-3W), including e-rickshaws and e-carts, reached 1,164 units, while electric three-wheelers in the L5 category hit 71, 501 units.

What is PM E-DRIVE Scheme?

• The ‘PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE)’ Scheme, recently approved by the Cabinet with a financial outlay of Rs. 10,900 crore, came into effect on October 1, 2024, and will remain in force until March 31, 2026. 

Objective of the Scheme:

• The primary goal of the scheme is to accelerate the adoption of electric vehicles (EVs), develop essential charging infrastructure, and establish a robust EV manufacturing ecosystem across the country. Under this scheme, electric vehicle sales have already seen a record surge, reflecting the growing momentum of EV adoption.
•  The PM E-DRIVE initiative promotes mass mobility by supporting public transportation systems. 
• The key objective is to speed up the transition to electric vehicles by offering upfront incentives for EV purchases and encouraging the development of charging infrastructure. 

Significance:

• The scheme seeks to reduce transportation-related environmental impacts and improve air quality while promoting an efficient and competitive EV manufacturing sector in line with the Atma Nirbhar Bharatinitiative. 
• This will be accomplished through a phased manufacturing program (PMP) to boost domestic manufacturing and strengthen the EV supply chain. 
• The Ministry of Heavy Industries is leading the nationwide push for electric vehicle adoption, contributing to India's ambitious net-zero target for 2070.  

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