“In-depth review of India’s energy policies”
Context : The International Energy Agency (IEA) along with the country’s policy think tank NITI Aayog released the first in-depth review of India’s energy policies. The review aims to set out a range of recommendations in each energy policy area.
The IEA regularly releases energy policy reviews for its member and association countries. For the first time, it has carried out the review for India. This is the first review IEA carried out for India.
Report Highlights :
- The report highlighted the achievements made through the country’s energy policies
- It suggested recommendations to support the Government of India’s (GoI) goals to promote the well-functioning energy markets and boost the deployment of renewables.
- The review encourages India to institutionalize energy policy coordination across the government with a national energy policy framework.
- It marked the government’s policy that provided access to electricity, affordable efficient lighting, and clean cooking through schemes like SAUBHAGYA, UJJWALA, and UJALA.
- Also, India is pursuing energy market reforms and the swift deployment of renewable technologies.
- It highlighted the growth of renewables in India which accounts for almost 23% of India’s total installed capacity.
- The review also founded that the energy efficiency improvements in the country has avoided 15% of oil and gas imports, additional energy demand, and air pollution and 300 million tonnes (MT) of CO2 emissions between 2000 and 2018.
” Amma Vodi scheme “
Context : The Andhra Pradesh State government launched the Amma Vodi scheme. It was launched by the Andhra Pradesh chief minister YS Jagan Mohan Reddy . “Amma Vodi” can be translated as ‘mother’s lap’ in Telugu. The scheme will be implemented on 26 January 2020.
Aim :
Amma Vodi scheme aims to support low-income families in educating their children.
“Amma Vodi scheme” :
- Under the scheme, mothers and guardians of school-going children from lower-income groups will receive financial assistance of Rs.15,000 annually.
- The scheme will be available to ration cardholders, who fall under the Below Poverty Line (BPL) and clear a few more criteria related to their economic status.
- The state government has allocated a budget of around Rs.6,455 crore for 2019-20 under the scheme. The fund nearly 20% of the total education budget of Rs.32,618 crore of the state.
- The state government has also taken funds from other departments to support the scheme.
- It has released the final list of all the beneficiaries of the scheme.
- The applicants who have registered for this scheme can check the Jaganna Amma Vodi eligibility list now on the official website of the AP government.
India ranked fifth-biggest geopolitical risk of 2020 by Eurasia Group
Context : Eurasia Group reported that India is one of the world’s top geopolitical risks for 2020. The political risk consultancy India under Prime Minister Narendra Modi was listed as the fifth biggest geopolitical risk of 2020.
Report Highlights :
- Eurasia Group is one of the United States’ most influential risk assessment companies.
- The report said that the Indian PM Narendra Modi has spent much of his second term to promote the controversial social policies, include the revocation of the special status for Jammu and Kashmir through an Act, at the expense of an economic agenda.
- It also highlighted that the impacts will be shown in 2020, with intensified communal and sectarian instability, foreign policy and economic setbacks.
- The list was topped by-elections in the US and followed by events and developments like the US-China technology tug of war on 5G and the trade war between China and the US.
Aadhaar-based Video Customer Identification Process
Context : The Reserve Bank of India (RBI) launched the Aadhaar-based Video Customer Identification Process (V-CIP) on 9 January 2020. The aim of the move is to allow banks and other lenders to remotely complete Know Your Customer (KYC) of customers on videos.
Video Customer Identification Process (V-CIP) :
- RBI has allowed consent-based video-based KYC as an option to establish a customer’s identity.
- It is expected that it will make the process easier for banks and other regulated entities to adhere to the RBI’s KYC norms.
- It moves with a view to leveraging the digital channels for the Customer Identification Process (CIP) by Regulated Entities (REs).
- RES has been encouraged to take the assistance of the latest available technology like Artificial Intelligence (AI) and face matching technologies, to ensure the integrity of the process and the information furnished by the customer.
- This consent-based method will be an alternate method of establishing the customer’s identity, for customer onboarding.
- This approval by RBI was a long-standing industry demand for several years as many banks, especially digital NBFCs and fin-tech startups, as it will reduce the costs of physically reaching out to customers in remote locations where they did not otherwise have branches.