ALL ABOUT NBFC'S

About the term NBFC:

A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the
business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or
local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit fund
business.

Difference between BANK & NBFC:

NBFCs lend and make investments and hence their activities are akin to that of banks; however there are a few
differences as given below:

i. NBFC cannot accept demand deposits;

ii. NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself;

iii. deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of
NBFCs, unlike in case of banks.

Different types/categories of NBFCs registered with RBI:

NBFCs are categorized

a) In terms of the type of liabilities into Deposit and Non-Deposit accepting NBFCs,

b) Non deposit taking NBFCs by their size into systemically important and other non-deposit holding companies
(NBFC-NDSI and NBFC-ND) and

c) By the kind of activity they conduct.

Within this broad categorization the different types of NBFCs are as follows:

i. Asset Finance Company(AFC) : An AFC is a company which is a financial institution carrying on as its
principal business the financing of physical assets supporting productive/economic activity, such as automobiles,
tractors, lathe machines, generator sets, earth moving and material handling equipments, moving on own power and
general purpose industrial machines.

ii. Investment Company (IC) : IC means any company which is a financial institution carrying on as its principal
business the acquisition of securities.

iii. Loan Company (LC): LC means any company which is a financial institution carrying on as its principal
business the providing of finance whether by making loans or advances or otherwise for any activity other than its
own but does not include an Asset Finance Company.

iv. Infrastructure Finance Company (IFC): IFC is a non-banking finance company

a) which deploys at least 75 per cent of its total assets in infrastructure loans,

b) has a minimum Net Owned Funds of Rs. 300 crore,

c) has a minimum credit rating of ‘A ‘or equivalent d) and a CRAR of 15%.

v. Infrastructure Debt Fund: Non- Banking Financial Company (IDF-NBFC) : IDF-NBFC is a company
registered as NBFC to facilitate the flow of long term debt into infrastructure projects. IDF-NBFC raise resources
through issue of Rupee or Dollar denominated bonds of minimum 5 year maturity. Only Infrastructure Finance
Companies (IFC) can sponsor IDF-NBFCs.

vi. Non-Banking Financial Company - Micro Finance Institution (NBFC-MFI): NBFC-MFI is a non-deposit
taking NBFC having not less than 85%of its assets in the nature of qualifying assets which satisfy the following
criteria:

a. loan disbursed by an NBFC-MFI to a borrower with a rural household annual income not exceeding Rs. 60,000 or
urban and semi-urban household income not exceeding Rs. 1,20,000.

b. tenure of the loan not to be less than 24 months for loan amount in excess of Rs. 15,000 with prepayment without
penalty;

vii. Non-Banking Financial Company – Factors (NBFC-Factors): NBFC-Factor is a non-deposit taking NBFC
engaged in the principal business of factoring. The financial assets in the factoring business should constitute at least
75 percent of its total assets and its income derived from factoring business should not be less than 75 percent of its
gross income.

Register with RBI:

A company incorporated under the Companies Act, 1956 and desirous of commencing business of non-banking
financial institution as defined under Section 45 I(a) of the RBI Act, 1934 should comply with the following:

i. it should be a company registered under Section 3 of the companies Act, 1954

ii. It should have a minimum net owned fund of Rs 200 lakh.

Deposits in NBFC:

a) Presently, the maximum rate of interest an NBFC can offer is 12.5%. The interest may be paid or compounded at
rests not shorter than monthly rests.

b) The NBFCs are allowed to accept/renew public deposits for a minimum period of 12 months and maximum
period of 60 months. They cannot accept deposits repayable on demand.

c) The deposits with NBFCs are not insured.

d) The repayment of deposits by NBFCs is not guaranteed by RBI.

Brief about RNBC

a) Residuary Non-Banking Company is a class of NBFC which is a company and has as its principal business the
receiving of deposits, under any scheme or arrangement or in any other manner and not being Investment, Asset
Financing, Loan Company.

b) These companies are required to maintain investments as per directions of RBI, in addition to liquid assets.

c) The amount payable by way of interest, premium, bonus or other advantage, by whatever name called by a RNBC
in respect of deposits received shall not be less than the amount calculated at the rate of 5% (to be compounded
annually) on the amount deposited in lump sum or at monthly or longer intervals; and at the rate of 3.5% (to be
compounded annually) on the amount deposited under daily deposit scheme.
d) Further, a RNBC can accept deposits for a minimum period of 12 months and maximum period of 84 months
from the date of receipt of such deposit. They cannot accept deposits repayable on demand.

Some other regulators:

Category of Companies Regulator

Chit Funds Respective State Governments

Insurance companies IRDA

Housing Finance Companies NHB

Venture Capital Fund / SEBI

Merchant Banking companies SEBI

Stock broking companies SEBI

Nidhi Companies Ministry of corporate affairs, Government of India

SBI PO Main:वर्णा त्मक ववषय ( जननी सुरक्षण योजनण)

परिचय: जननी सु रक्षण योजनण रणष्ट्रीय ग्रणमीर् स्वणस्थ्य वमशन के अंतर्ा त एक सु रवक्षत मणतृ त्व कणया क्रम है वजसकण
उद्दे श्य र्रीब र्र्ा वती मवहलणओं के सं स्थणर्त प्रसव को बढ़णवण दे ते हुए मणतृ एवं नवजणत मृत्यु दर को कम करनण
है । आप इस योजनण के लणर्ों, लणर्णथी के प्रकणर एवं पणत्रतण मणनदं डों के बणरे में जणनकणरी प्रणप्त कर सकते हैं ।
योजनण कण लणर् उठणने सं बंधी प्रवक्रयण की जणनकणरी दी र्ई है । आवे दन करने के वलए प्रणवधकरर् एवं आवश्यक
प्रलेखों के बणरे में र्ी जणनकणरी दी र्ई है ।

क्या है जननी सुिक्षा योजना

जननी सु रक्षण योजनण र्णरत सरकणर के स्वणस्थ्य और पररवणर कल्यणर् मंत्रणलय द्वणरण प्रणयोवजत योजनण है वजसकण
प्रणरं र् 2001 में वकयण र्यण है । इसके अंतर्ा त र्रीबी रे खण से नीचे जीवनयणपन करने वणली मवहलणओं को सं स्थणर्त
प्रसू वत करणने के वलए एक हजणर रुपये की आवथाक सहणयतण प्रदणन की जणती है । प्रसव अस्पतणल में अथवण
प्रवशवक्षत दणई द्वणरण वकयण जणनण चणवहए। घरों में वडवलवरी के आकंडे को कम वकयण जण सके, इसके वलए र्णं व के
लोर्ों को जणर्रूक वकयण जण रहण है ।
शत प्रवतशत केंद्र प्रणयोवजत इस योजनण कण उद्दे श्य र्रीब र्र्ा वती मवहलणओं को प्रसव की सं स्थणर्त सु ववधण प्रदणन
करनण है । योजना के अंतर्गत पंजीकृत प्रत्येक लाभार्थी के पास एमसीएच कार्ग के सार्थ-सार्थ जननी सु िक्षा
योजना कार्ग भी होना जरूिी है । आशण अथवण कोई अन्य सु वनवित सं पका कणया कतणा द्वणरण ए.एन.एम. प्रणथवमक
स्वणस्थ्य केंद्र के वचवकत्सण अवधकणरी की दे खरे ख में अवनवणया रूप से प्रसव की व्यवस्थण करनण आवश्यक है ।
इससे र्र्णा वस्थण के दौरणन स्वणस्थ्य जणाँ च और प्रसव के बणद दे खर्णल और वनर्रणनी करने में सहणयतण वमलती है ।

योजना की वतग मान स्थर्थतत

जननी सु रक्षण के नणम पर प्रदे श सरकणर हर सणल करोडों रुपये खचा करती है । इस योजनण के तहत प्रेग्नेंट
मवहलणओं को हॉस्पस्पटल में वडवलवरी करणने पर प्रोत्सणहन रणवश, प्रसव के बणद घर डरॉप करने की फैवसवलटी समेत
कई अन्य सु ववधणएं दी जणती है । इसके बणवजूद र्ी वजले में जननी सु रक्षण योजनण कण लणर् केवल 31पसें ट
मवहलणओं की हो वमल पण रहण है । दरअसल वजले में हर महीने होने वणली वडवलवरी में से केवल 31पसें ट मवहलणएं
ही सरकणरी हॉस्पस्पटल में वडवलवरी के वलए आ रही हैं ।
जननी सु रक्षण योजनण के तहत सरकणरी हॉस्पस्पटल में वडवलवरी करणने वणली मवहलणओं को 1400 रुपये वदए जणते हैं ।
इसके सणथ ही एडवमट प्रसू तण के खणने पीने पर हर वदन 100 रुपये खचा वकए जणते हैं । हॉस्पस्पटल में दवणइयों से
लेकर सर्ी तहर की फैवसवलटी फ्री दी जणती है ।
वपछले एक महीने के सरकणरी आकंडों के वहसणब से वजले में 1778 प्रेग्नेंट मवहलणओं की वडवलवरी हुई है । वजसमें
से वसफा 557 वडवलवरी ही सरकणरी हॉस्पस्पटल में हुई, जबवक 1221 वडवलवरी प्रणइवे ट हॉस्पस्पटल में और 246 की घर में
हुई। इस वहसणब से केवल 31 पसें ट वडवलवरी ही सरकणरी हॉस्पस्पटल में ही हुई है ।

योजना के तहत ऑनलाइन तमलेर्ी िाति

वजले में जननी सु रक्षण योजनण के तहत दी जणने वणली सर्ी प्रकणर की प्रोत्सणहन रणवश अब ऑन लणइन वमलेर्ी।
वजले में 1 अर्स्त से प्रथम चरर् में वजलण अस्पतणल, दो सब वडवीजन अस्पतणल 14 सीएचसी में डणयरे क्ट बे नीवफट
योजनण लणर्ू होर्ी।
योजनण के वद्वतीय चरर् में वजले के अन्य वचवकत्सण सं स्थणनों में इस योजनण को लणर्ू वकयण जणएर्ण। डणयरे क्ट
बे नीवफट योजनण लणर्ू होने के बणद जननी सु रक्षण योजनण के तहत र्र्ा वती मवहलण को दी जणने वणली सर्ी प्रकणर
की प्रोत्सणहन रणवश कण पररलणर् बैं क खणते के जररए प्रणप्त होर्ण। वता मणन में जननी सु रक्षण योजनण में र्र्ा वती
मवहलण को सं स्थणर्त प्रसव, बणवलकण जन्म आवद पर प्रोत्सणहन रणवश कण र्ु र्तणन लणर्णथी को सं बंवधत वचवकत्सण
सं स्थणन चेक के जररए कर रहे हैं । इसमें कई सं स्थणन की मेडीकेयर ररलीफ सोसणइटी में पयणा प्त बजट उपलब्ध
होने पर चेक के वलए प्रसू तण के पररजनों को बणर-बणर चक्कर लर्णने पडते है ।
लणर्णथी को आन लणइन जननी सु रक्षण योजनण पेमेंट एं ड मणनीटररं र् वसस्टम (ओजेपीएमएस) के जररए आन लणइन
ही प्रसव के बणद सीधे ही रणज्य स्तर से उसके बैं क खणते में प्रोत्सणहन रणवश कण र्ु र्तणन वकयण जणएर्ण।

योजनण की सफलतण के वलए इन चुनौवतयों से पणर पणनण होर्ण

योजनणके वक्रयणन्वयन में कुछ चुनौवतयणं र्ी रहे र्ी। इन चुनौवतयों से वनपटने के वलए प्रर्णवी रूप से कणम करनण
होर्ण। मणनण जण रहण है वक कुछ र्र्ा वती मवहलणओं के पणस बैं क खणते नही ं हो, उस स्पस्थती में मवहलण वजस क्षे त्र
की है वहणं के वचवकत्सण सं स्थणन प्रर्णरी उस र्र्ा वती को पणस की बैं क शणखण में जीरो बैं लेस पर खणतण खुलवणने
में मदद करे र्ें । उस मवहलण से सं बंवधत सर्ी जणनकणररयणं पीसीटीएस सॉफ्टवे यर इद्रणं ज करवणने की सणरी
वजम्मेवणरी उस क्षे त्र की आशण सहयोवर्नी की होर्ी। ये जणनकणररयणं इद्रणं ज नण होने पर आशण सहयोवर्नी को प्रसव
पूवा जणं च सं स्थणर्त प्रसव के वलए दे य प्रेरक रणवश कण र्ु र्तणन नही वकयण जणएर्ण।

जब उक्त मवहलण प्रसव के वलए वचवकत्सण सं स्थणन पर जणं एर्ी, तो प्रसव के बणद जननी सु रक्षण प्रपत्र में अपनी
सू चनणएं र्रकर उसी समय वहणं दे र्ी। उस पीसीटीएस आईडी के आधणर पर सणफ्टवे यर में उसके सं स्थणर्त प्रसव
की सू चनणएं इद्रणं ज करने पर रणज्य स्तर पर वनदे शक/ पीडी आरएसीएच पेमेंट र्े टवे य द्वणरण सीधे ही प्रोत्सणहन
रणवश लणर्णथी के खणते में तत्कणल जमण कर दे र्ें। इसकी जणनकणरी एसएमस यण वॉइस कॉल के जररए लणर्णथी के
रवजस्टडा मोबणइल नंबर पर जणएर्ी।

Narendra Modi’s Prime Ministerial Visits (Central Asian

Countries): Key Features
Dear Readers,

Since we all are acquainted with the recent visits of our Hon'ble Prime Minister Shri
Narendra Modi to the five Central Asian states in July this year. This visit which is reminiscent of former
Prime Minister Jawaharlal Nehru’s 1955 ground-breaking trip, Prime Minister Narendra Modi visited
Russia and five Central Asian states this year. Since several Banking Exams are in the streak, hence
from exam point of view this visit is very crucial, we can find at least 2-3 questions from this topic. This
Compilation of the visit is prepared by one of our fervent readers Pradosh . We wish you luck for all your
future endeavours.

Narendra Modi’s Prime Ministerial Visits

1. Uzbekistan (6 July)

President – Islam Karimov

PM – Shavkat Mirjyoyev

Capital – Tashkent

Currency – Uzbekistan Som

Agreements Signed (7):

1. Economic and Strategic ties : Enhance strategic, economic and energy ties along with reviewing key
regional issues including the situation in Afghanistan.

2. Joint Working Group on Counter Terrorism : To intensify security cooperation and exchanges for
combating terrorism, promoting regional integration and advancing stability in the region.

3. Defence and cyber security : Enhance cooperation in the fields of defence and cyber security.

4. Uranium supply contract: Implement the contract which was signed in 2014 for supply of 2,000 metric
tonnes of the Uranium from mineral rich Uzbekistan to India.

5. Strengthening cooperation : In the areas of information technology, agriculture and energy.

6. International North South Transport Corridor (INSTC): India asked Uzbekistan to be part of INSTC
similar to Ashgabat Agreement which is s a transit pact between Uzbekistan, Iran, Turkmenistan and
Oman established in 2011.

7. It should be noted that INSTC is a ship, road and rail route for moving freight between India, Iran,
Russia, Europe and Central Asia.

Narendra Modi’s Prime Ministerial Visits:

2. Kazakhstan (7th July):

President : Nursultan Nazarbayev

PM : Karim Massimov
Capital : Astana

Currency : Tenge

Agreements Signed (5) :

1. Agreement on Defence and Military : Both nations will form joint working group (JWG) on counter
terrorism, defence training, exercise and production of defence equipment.

2. MoU on Cooperation on Physical Cultural and Sports : It was signed between India’s Ministry of Youth
Affairs and Sports and Kazakhstan’s Ministry of Culture and Sports.

3. MoU on Technical Cooperation in the field of Railways : It was signed between India’s Ministry of
Railways and Kazakhstan Temir Zholy.

4. Agreement on Transfer of Sentenced Persons : It will facilitate swapping to prisoners from both
countries to serve their remaining sentence in home country.

5. Agreement on supply of Uranium to India : Kazakhstan the world’s largest producer of uranium will
supply a total of 5,000 tonnes of the natural uranium to India during the 2015-19.

# Apart from signing these agreements, India has also shown interest in :

1. Fertilizer sector in Kazakhstan due to abundance availability of Natural Gas.

2. Hydro carbon sectors of Kazakhstan for drilling and production of crude oil

Narendra Modi’s Prime Ministerial Visit:

3. Turkmenistan (10-11 July)

President : Gurbanguly Berdimuhamedow

PM : Akja Nurberdiyewa

Capital : Ashgabat

Currency : Turkmen New Manat

Agreements Signed (7) :

1. MoU on Supply of Chemical Products : It was signed between the India’s ‘Rashtriya Chemicals and
Fertilizers Limited’ and the Turkmenistan’s Turkmenhimiya’.
2. MoU Foreign Service Institutes of both nations: It was signed between Foreign Service Institute of the
Ministry of External Affairs of India and Institute of International Relations of the Ministry of Foreign Affairs
of Turkmenistan.

3. Agreement on Cooperation in the field of Sports: It was signed between Union Ministry of Youth Affairs
And Sports of India and State Committee for Sport of Turkmenistan.

4. Programme of Cooperation In Science And Technology: It was signed between both governments for
the period of two years viz. 2015-2017.

5. MoU on Cooperation in Yoga and Traditional Medicine: It was signed between respective entities of
both governments.

6. MoU on Cooperation in the Field Of Tourism: It was signed between respective entities of both
governments.

7. Agreement in the field of Defence: It was signed between respective entities of both governments.

Narendra Modi’s Prime Ministerial Visit:

4. Tajikistan (12 July):

President : Emomalli Rahmon

PM : Kokhir Rasulzoda

Capital : Dushanbe

Currency : Somni

Agreements Signed (2) :

1. Programme of Cooperation (POC) in the field of Culture : It was signed between Ministries of Culture of
India and Tajikistan for the years 2016-18. It envisages cooperation in the field of culture between both
nations through exchange of expertise for protection, preservation and promotion of cultural heritage. It
also seeks to exchange of information and experts and organization of cultural days for greater cultural
understanding between the countries.

2. Exchange of Note Verbale (NV) on setting up of Computer Labs : It conveys the intention of India to set
up computer labs in 37 schools in Tajikistan. With this initiative India’s seeks to support Tajikistan in
human resource and skill development efforts.

#Besides signing these pacts, both leaders Prime Minister Narendra Modi and his counterpart Emomali
Rahmon, President of Tajikistan agreed to promote the International North South transport corridor
(INSTC). Both nations also pledged to further deepen their cooperation to fight the menace of radical
terrorism and agreed to step up defence ties besides boosting trade and investment

Narendra Modi’s Prime Ministerial Visit:

5. Kyrgyzstan (12 July):

President : Almazbek Atambayev

PM : Temir Sariyev

Capital : Bishkek

Currency : Som

Agreements Signed (4) :

1. Agreement on Defence Cooperation: It was signed to deepen cooperation between both countries in
matters relating to security, defence, military education and training.

. It also covers provisions to conduct of joint military exercises, exchange of military instructors, exchange
of experience and information and observers etc.

2. MoU and Cooperation in the field of Elections: It was signed to deepen cooperation in matters relating
to legislation on elections and referendums. It also covered rights of elections process stakeholders,
modern systems and technologies as well as other issues of election administration.

3. MoU on cooperation in the sphere of Standards: Seeks to strengthen and enhance technical
cooperation in the fields of conformity assessment, standardization and sharing of expertise on mutual
trade.

• It also aims at exchanging necessary information and expertise in this regard between the two parties.
Signatory parties are Ministry of Economy of Kyrgyzstan and Bureau of Indian Standards (BIS).

4. Agreement on Cooperation in Culture: To deepen cultural cooperation between both countries in areas
such as preservation of cultural heritage, theatre, youth festivals and organisation of folk arts.

• It also seeks to boost cooperation in of publishing and translation of literature, culture, sports and
physical exchange of archival materials, geography, history etc.

Digital India : Key Features

Good Morning Friends,
As many of you were demanding some essay topics that may come in the exam. So from Today onwards,
we will try to provide you essay or letters content on such topics, and try to make an essay with this much
information and try to study. Today we are providing you some key points for essay on DIGITAL
INDIA project that was launched by our Prime Minister Narendra Modi. This scheme was launched in the
month of July and many commitments have been made in it. So try to remember it for GA Section as well.
Prime Minister Narendra Modi inaugurated the ‘Digital India’ week on Wednesday in the presence of
senior ministerial colleagues and top industry honchos, a move that aims to give a ‘digital push’ to
governance and jobs. Right from his first day in office, the Prime Minister has always exhibited interest in
a digitizing campaign for India, something which he feels would bridge the gap between government
initiatives and its beneficiaries. With increasing internet penetration in India, a digital India campaign is the
need of the hour.

 Digital locker system to minimize usage of physical documents and enable their e-sharing via
registered repositories.
 MyGov.in as an an online platform to engage citizens in governance through a "Discuss, Do and
Disseminate" approach.
 Swachh Bharat Mission Mobile app to achieve the goals set by this mission.
 e-Sign framework to allow citizens to digitally sign documents online using Aadhaar.
 e-Hospital system for important healthcare services such as online registration, fee payment,
fixing doctors' appointments, online diagnostics and checking blood availability online.
 National Scholarship Portal for beneficiaries from submission of application to verification,
sanction and disbursal.
 Digitize India Platform for large-scale digitization of records in the country to facilitate efficient
delivery of services to the citizens.
 Bharat Net programe as a high-speed digital highway to connect all 250,000 gram panchayats of
country -- the world's largest rural broadband project using optical fibre.
 BSNL's Next Generation Network to replace 30-year old telephone exchanges to manage all
types of services like voice, data, multimedia and other types of communication services.
 BSNL's large scale deployment of Wi-Fi hotspots throughout the country.
 "Broadband Highways' as one of the pillars of Digital India to address the connectivity issue while
enabling and providing technologies to facilitate delivery of services to citizens.
 Outsourcing Policy to create such centres in different northeastern states and in smaller towns
across the country.
 Electronics Development Fund to promote innovation, research and product development to
create a resource pool within the country as also a self-sustaining eco-system of venture funds.
 National Centre for Flexible Electronics to promote research and innovation in the emerging area
of flexible electronics.
 Centre of Excellence on Internet on Things (IoT) as a joint initiative of the government agencies
and private institutions such as Nasscom.

Digital India promises to transform India into a connected knowledge economy offering world-class
services at the click of a mouse and will be implemented in a phased manner.The government feels that
open access to "broadband highways" across cities, towns and villages would give a fillip to trade across
the country. "The other important benefit we see is surge in e-commerce. The intention is to bring down
net electronics imports to zero by 2020, from about $100 billion now, a move which will help the country
control its current-account deficit. As things stand, net annual electronics imports could rise to $400 billion
by 2020, outgrowing oil imports.

Greek debt crisis: Essay

Good Morning Readers,

As many of you were demanding some essay topics that likely to come in the upcoming exams. So today
we are providing you, essay on GREEK DEBT CRISIS which is burning topic of this hour across the
world. There is much anticipation of this topic to be in the exam. This topic is crucial from the point of view
as an Essay as well as General Awareness.

Since, Greece is the current interesting issue in the world and the downfall of its economy has been
discussed. The financial crisis affected the entire economy, thus the topics are interrelated to each other.
Hence the crisis affects all the sectors in the country. Thus the reasons for the crisis and its impact have
been outlined in this article.

Greece became the tenth member of the European Union in 1981 which ushered the period of
remarkable sustainable growth in the country. The country aimed to raise their standard of living to
unprecedented levels which would be achieved by widespread investments in industries, growing
revenues from tourism and shipping. The country then adopted the Euro in 2001. In 2004 Greece hosted
the Olympics games.

The roots of Greece's crisis are simple. Before Greece joined the Eurozone, investors treated it as a
middle-income country with poor governance — which is to say, a credit risk. After Greece joined the
Eurozone, investors thought that Greece was no longer a credit risk — they figured, if push came to
shove, other Eurozone members like Germany would bail Greece out. They were wrong. After joining of
Greece as the Eurozone member, investors began lending to Greece at about the same rates as they
lend to Germany. Faced with this sudden availability of cheap money, Greece began borrowing like crazy.
And then, when it couldn't pay back its debts, it turned out financial markers were wrong: Germany and
other Eurozone nations weren't willing to simply bail Greece out. That led the market to panic around
2010, and you can see interest rates on Greek debt spike once again. Those high interest rates make it
basically impossible for Greece to borrow, and that makes it impossible for Greece to pay its debts.
The result: Greece is insolvent and the Eurozone isn't as tight a union as the financial markets — and
maybe the Eurozone's member states — believed. That's the crisis.

Greece's debt-to-GDP ratio is an insane 172%, It's much higher than any other country in the Eurozone.
But making matters worse is the fact that the financial markets no longer see Greece as debt-worthy. No
one wants to lend to Greece at reasonable rates, and so Greece can't keep paying to service its current
debts while carrying out basic government functions.

The latest round of the Greek crisis began when Greece rejected its two main political parties in favor of
the far-left Syriza. The main reason? Syriza promised to free Greece from the grinding austerity that was
leading to such widespread human misery. The only problem? Syriza had no actual plan for freeing
Greece from austerity; they tried to renegotiate the terms of the Eurozone's support for Greece and came
away basically empty handed. And so Syriza is asking the Greek people to vote on whether to accept the
Eurozone's terms — and, by proxy, to remain in the Eurozone. The vote is basically a final, desperate
ploy for leverage, and one that's likely to fail. Either the Greek people endorse more of the same, which
Syriza doesn't want, or they reject the Eurozone's offer, and basically have to leave the Eurozone, which
would also be a disaster.

Over the past six years, Greece has experienced an economic depression on the scale of that
experienced by the United States in the 1930s. Its economy has contracted by around 25 percent, its
unemployment rate has exceeded 25 percent, and its youth unemployment has risen to over 50 percent.

At the same time, despite five years of budget austerity and a major write-down of its privately owned
sovereign debt, Greece's public debt to GDP ratio has risen to 180 percent. At the heart of Greece's
economic collapse has been the application of draconian budget austerity within a Euro straitjacket. That
straitjacket has precluded exchange rate depreciation or the use of an independent monetary policy as a
policy offset to the adverse impact of budget belt-tightening on aggregate demand.

In other words, the debt crisis destroyed Greece's economy, which in turn destroyed Greece's ability to
pay back its creditors or employ its people, which in turn forced Greece to beg the Eurozone and IMF for
help and the austerity measures they demanded destroyed Greece's economy even more.

The Greek government now faces the challenge in the economy of restructuring the reforms and to
ensure that the economic policies continue to enhance economic growth and increase Greece standard
of living and development in the economy.

Pursuing a strong fiscal policy which is combined with public-sector borrowing and the lowering of interest
rates has been the challenge for Greece. The Central bank of Greece is also making efforts to increase
borrowings at low interest rest in order to stabilize the economy.

The Government should reduce its expenditure and hence domestic products need to be encouraged. As
the excess of exports would enable finance the deficit in the economy. Also it will lead to rise in GDP
thereby leading to decline in rate on unemployment.

SBI PO Mains Descriptive : Beti Bachao, Beti Padhao

Dear Readers,
Today we are providing you Important Information on one of the most important topic i.e. Beti Bachao, Beti Padhao
scheme. This is important not only for Descriptive, but also for current affairs. So buck up and get ready for the
battle.

The Census (2011) data showed a significant declining trend in the Child Sex Ratio(CSR) between 0-6 years with an
all time low of 918. The issue of decline in the CSR is a major indicator of women disempowerment. CSR reflects
both, pre-birth discrimination manifested through gender biased sex selection, and post birth discrimination against
girls. Easy availability and affordability of diagnostic tools has been critical in increasing Sex Selective Elimination
(SSE) leading to low Sex Ratio at Birth(SRB). Further it also contributes to the decline in CSR. Strong sociocultural
and religious biases, preference for sons& discrimination towards daughters has accentuated the problem.
Coordinated & convergent efforts are needed to ensure survival, protection and education of girl child to help realize
her full potential. The Government has announced Beti Bachao, Beti Padhao programme to address the issue of
decline in CSR through a mass campaign & Multi-Sectoral action in 100 gender critical districts.

Though the CSR is influenced by number of factors such as under-registration of girls, differential infant & child
mortality, strong socio-cultural and religious biases, preference for sons & discrimination towards daughters, it is in
large measure determined by Sex Ratio at Birth (SRB). SRB is defined as number of girls born per 1000 boys. The
SRB for the period 2008-10 was 908 as against the internationally observed normal SRB of 952 clearly pointing out
to lesser number of girls born
Page 27 of 37 than the boys in India. A low SRB is directly linked to easy availability and affordability of diagnostic

tools leading to increasing Sex Selective Elimination (SSE). The sharp decline as pointed by Census 2011 data is a
call for urgent action, as it highlights that the girl child is increasingly being excluded from life itself. Coordinated &
convergent efforts are needed to ensure survival, protection and education of the girl child. The Government has
announced BetiBachao, BetiPadhao(BBBP)programme to address the issue of decline in CSR through a mass
campaign across the country, and focussed intervention & Multi-Sectoral Action in 100 gender critical districts.

The objectives of this initiative are:

i) To prevent Gender biased sex selective elimination:

Focussed intervention targeting enforcement of all existing Legislations and Acts, especially to Strengthen the
implementation of Pre-Conception & Pre-Natal Diagnostic Techniques (Prohibition of Sex Selection) Act, 1994
(PC&PNDT Act) with stringent punishments for violations of the law.

ii) To ensure survival& protection of the girl child:

Article 21 of the Constitution defines protection of life and liberty‟ as a legitimate right of its citizens. The
difference in mortality rates of girls and boys indicates the difference in access to various health care and nutrition
services as well as the preferential care and treatment given to boys. The access to various entitlements, changes in
patriarchal mind-set etc. are to be addressed in order to ensure equal value, care for and survival of the infant and
young girl child. Further implementation of various legislative provisions for the protection of the girl child and
women has to be ensured to create a nurturing and safe environment for the girl child.

iii) To ensure education & participation of the girl child:

The access and availability of services and entitlements during the various phases of the life cycle of the Girl Child
has a bearing on her development. Essential requirements related to Nutrition, Health Care, Education and
Protection have to be fulfilled to enable every girl child to develop to her full potentialespecially the rightto quality
early childhood care, elementary and secondary education. Right To Education (RTE) Act, 2010 provides children
the right to free and compulsory education till completion of elementary education in a neighbourhood school.
Further, Sarva Shiksha Abhiyan (SSA) is a flagship programme for achievement of Universalization of Elementary
Education (UEE) in a time bound manner, as mandated by 86th amendment to the

Constitution of India making free and compulsory Education to the Children of 6-14 years age group, a Fundamental
Right. Denial of these entitlements is

a violation of children‟s rights, which will have a lasting lifelong negative impact. This will also adversely impact
upon future human development.