Indian Economy -Civil Service Gurukul

2020-09-11 20:50:05 EASE 2.0 Banking Reforms Index:
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Context:
Recently, the EASE (Enhanced Access and Service Excellence) 2.0 Banking Reforms Index on performance of Public Sector Banks (PSB) from March 2018-2020 was released and best performing banks on EASE were felicitated.
What is EASE Reforms Agenda?
1. It was launched in January 2018 jointly by the government and PSBs.
2. It was commissioned through Indian Banks’ Association and authored by Boston Consulting Group.
3. EASE Agenda is aimed at institutionalizing CLEAN and SMART banking.
4. The Index measures performance of each PSB on 120+ objective metrics.

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What is EASE 2.0?
EASE 2.0 builds on the foundation of EASE 1.0 and introduces new reform Action Points across six themes to make reforms journey irreversible, strengthen processes and systems, and drive outcomes.
The six themes of EASE are:
1. Responsible Banking.
2. Customer Responsiveness.
3. Credit Off-take.
4. PSBs as UdyamiMitra (SIDBI portal for credit management of MSMEs).
5. Financial Inclusion & Digitalisation.
6. Governance and HR.
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2020-09-11 20:48:35 ‘SAROD-Ports’ stands for Society for Affordable Redressal of Disputes – Ports.
1. Launched by the Union Shipping Ministry.

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2. It is Affordable Dispute Redressal Mechanism for all kind of disputes of maritime sector.
SAROD-Ports is established under Societies Registration Act, 1860 with the following objectives:
1. Affordable and timely resolution of disputes in fair manner.
2. Enrichment of Dispute Resolution Mechanism with the panel of technical experts as arbitrators. Open / Comment

2020-09-11 20:47:34 Five Star Villages Scheme:
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Context:
The Department of Posts has launched a scheme called Five Star Villages, to ensure universal coverage of flagship postal schemes in rural areas of the country.
1. The scheme is being launched on pilot basis in Maharashtra.
The schemes covered under the Five Star scheme include:
1. Savings Bank accounts, Recurrent Deposit Accounts, NSC / KVP certificates.
2. Sukanya Samridhi Accounts/ PPF Accounts.

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3. Funded Post Office Savings Account linked India Post Payments Bank Accounts.
4. Postal Life Insurance Policy/Rural Postal Life Insurance Policy.
5. Pradhan Mantri Suraksha Bima Yojana Account / Pradhan Mantri Jeevan Jyoti Bima Yojana Account. Open / Comment