Economics (Part-IV) (Railway)

• The then Union Finance Minister, Late Arun Jaitley, inaugurated the Bank in Kolkata.

• Initially, Bandhan started as a non-profit microfinance company in 2001 and then became a Non-Banking Finance Company (NBFC) in 2006.

• Earlier, Maruti Suzuki India Ltd was incorporated on 24 February 1981 with the name Maruti Udyog Ltd.

• The company was formed as a government company with Suzuki as a minor partner to make a people's car for middle class India.

• Punjab National Bank, United Bank of India and Oriental Bank of Commerce were merged into effect from April 1,2020.

•  The merger created the second largest nationalized bank (PNB) of the country both in terms of business and branch network.

• The amalgamated bank has a wider geographical reach through 11,000 plus branches, more than 13,000 ATMS, one lakh employees and a business mix of over Rs 18 lakh crore.

• Tamanna (Try And Measure Aptitude and Natural Abilities) is an initiative of the Central Board of Secondary Education (CBSE) and National Council of Educational Research and Training (NCERT), New Delhi, under the aegis of Ministry of Human Resource Development.

• It aims to enable the stakeholders know the aptitude of classes 9 and 10 students.

• It acts as the Principal Financial Institution for Promotion, Financing and Development of the Micro, Small and Medium Enterprise (MSME) sector.

• The head quarters of SIDBI is Lucknow.

• Jute is biodegradable and does not pollute the environment.

• Jute products decrease the demand for plastic bags which are non-biodegradable and pollute the surroundings.

• Jute is also known as 'white gold'.

• It originated from the Statistical Laboratory in Presidency College, Kolkata, set up by Mahalanobis, who worked in the Physics Department of the college in the 1920s.

• It was recognized as an Institute of National Importance by the 1959 act of the Indian parliament.

• It has subsumed various indirect taxes including central excise duty, services tax, additional customs duty, surcharges, state level value added tax and Octroi.

• It was introduced as The Constitution (101st Amendment) Act 2017, following the passage of Constitution 122nd Amendment Act Bill.

• The rate of GST is is 5%, 12%, 18%, and 28%.

• Mahatma Gandhi National Rural Employment Guarantee Act 2005 or MNREGA is a labour law and social security measure that aims to guarantee the 'right to work'.

• It aims to enhance livelihood security in rural areas by providing at least 100 days of wage employment in a financial year to at least one member of every household whose adult members volunteer to do unskilled manual work.

• It was earlier known as the National Rural Employment Guarantee Act or NREGA.

• Aim: to provide sufficient banking and credit, facility for agriculture and other rural sectors.

• These were set up on the recommendations of M. Narasimham Working Group.