Economics (Part-IV) (Railway)

• MFIs are financial companies that provide small loans to people who do not have any access to banking facilities.

• The Scheme is available to people in the age group 18 to 70 years with a bank account.

• The risk coverage under the scheme isRs.2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability.

• It is a mathematical function that relates the maximum amount of output that can be obtained from a given number of inputs - generally capital and labor.

• It is being operated under the Department of Water Resources, River Development and Ganga Rejuvenation. Ministry of Jal Shakti.

• The project would focus on building on capacity building of OSC (One-Stop Center) functionaries to handle the cases of women approaching them, particularly the women who have suffered violence and distress with due sensitivity and care.

• India's second five-year plan (1956-61) and Industrial policy Resolution 1956 paved the way for development of Public Sector and license raj.

• The plan was based on Mahalanobis model which suggested that there should be an emphasis on the heavy industries for a long-term higher growth path of the Indian economy.

• The amalgamation came into force with effect on the same day.

• All the branches of the PMC Bank will function as branches of Unity Small Finance Bank Ltd.

• Until 1999, the Union Budget was presented at 5 pm on the last working day of February as per British era practice.

• Former Finance Minister Yashwant Sinha in 1999 changed the budget presentation timing to 11 am.

• The company is a non-banking financial company (NBFC) which is engaged in providing loan (financing) against collateral of gold jewellery.

• The company provides personal and business loans (secured by gold jewellery) primarily to individuals having no access to formal credit for a reasonable tenure to meet their short-term working capital requirements.

• The fellowship is developed as a pre-incubation model which will provide youth with an opportunity to establish their social enterprise focusing on Sustainable Development Goal (SDG) based solutions for solving community issues.