Top News Highlights- 28 August 2024

Pradhan Mantri Jan Dhan Yojana (PMJDY)

• Overview: Launched in 2014, PMJDY aims to provide essential financial services like banking, insurance, and pension affordably.
• Achievements: As of July 2024, 52.74 crore accounts have been opened, with women constituting over 55% of account holders.
• Significance: It links with several schemes enhancing financial security, including accident insurance cover on RuPay cards and an overdraft facility up to Rs. 10,000.

National Quantum Mission (NQM)

• Goal: Establish a scalable quantum computing infrastructure ranging from 20 to 1000 qubits over the next decade.
• Innovations: Development of a Quantum Communication Network and enhancement in quantum material designs.
• Challenges: NQM faces hurdles like poor research funding, delayed progress, and infrastructure deficits.

New India Literacy Programme (NILP)

• Objective: Launched under NEP 2020, aiming to achieve 95% literacy among adults by 2030.
• Target: Focus on educating 5 crore learners using advanced digital platforms, emphasizing gender and regional disparities.
• Strategy: Employing volunteer teachers and leveraging online learning systems to enhance literacy rates.

India-Singapore Ministerial Roundtable (ISMR)

• Framework: Discussions focused on sectors like digitalization, healthcare, and manufacturing.
• Economic Ties: Singapore remains a leading source of FDI for India, indicating robust economic interdependence.
• Cooperation: Both nations collaborate in areas ranging from defense to science and technology, fostering mutual strategic interests.

India-US Defence and Security Cooperation

• Agreements: Recent pacts include setting up liaison offices and enhancing military cooperation through agreements like LEMOA and COMCASA.
• Technological Alliance: Initiatives like iCET and INDUS-X focus on joint development in defense technologies and innovations.
• Impact: These collaborations aim to solidify India’s defense capabilities and technology exchange.

Unified Lending Interface (ULI)

• Purpose: A new platform designed to integrate various state land records for easier credit access, especially in agriculture and MSME sectors.
• Benefits: ULI will reduce the documentation burden and improve the credit disbursal process, aiming to address gaps in credit availability.

Key Concepts and Policies

• PMJDY: A government scheme to increase banking penetration and financial inclusivity in India.
• NQM: An initiative aimed at positioning India at the forefront of quantum technology research and applications.
• NILP (ULLAS): Targets literacy improvement across India, particularly among adults, through digital and community-based educational initiatives.
• ISMR: A platform for India and Singapore to explore new cooperation avenues and strengthen economic and strategic ties.
• ULI: A technology-driven interface to streamline credit processes across diverse sectors, enhancing financial access and efficiency.