Descriptive Prep: Brajesh Mohan

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Being atmanirbhar in climate finance India needs to develop its own paradigm of climate finance. It cannot allow itself to be boxed in by the watertight categories of ‘green’ and ‘brown’ projects being laid down by the western world as a precondition to secure green funds. If these categories are inappropriate, there is another issue which compounds the problem here — the sheer absence of funds coming from the West, which has not kept to its commitment of raising $100 billion annually for the developing countries. Therefore, both the framework for climate finance as well as funds raised to this end will have to be homegrown. The Climate Finance Working Group has estimated a funds requirement of ₹118 trillion, available resources of ₹64 trillion and a gap of ₹54 trillion. This gap has to be met by way of domestic and foreign debt. Indian development financial institutions (DFIs) and commercial banks have to contribute by raising domestic funds and channelling resources from abroad.

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One more Related Article above topic related to IBC - Why should you read this Opinion - You can use this an Example in Essay and Answer.

Stressed Assets. IBC resolutions on the road to nowhere https://www.thehindubusinessline.com/specials/corporate-file/ibc-resolutions-on-the-road-to-nowhere/article66553204.ece

❇️ Today's Answer & Essay writing Topic - Day - 23 (ESI, FM & Descriptive) ESI - Q. Analyze the impact of economic policies on social justice in India, and suggest measures to ensure that economic growth is inclusive and equitable. (600 words) FM - Q. "Role of Technology in Financial Inclusion, Discuss various Opportunities and Challenges. (600 words) Essay - Status and Nature of research and development in India (450 Words) #descriptive Join 👉👉 @descriptive_bankexam

Fixing India’s R&D inadequacies https://www.thehindubusinessline.com/opinion/fixing-indias-rd-inadequacies/article66557197.ece

✅ Buy Descriptive Mock Test and Guidance for RBI Grade B 2023 Batch - II (You can get your copy checked in front of you through Google meet) No of Seats - 50 Mock Test Start Date - 1st week of March 2023 (Test Schedule - Attached in the Article) https://www.brajeshmohan.in/2023/01/buy-descriptive-mock-test-and-guidance-rbi-grade-b.html

❇️ Today's Answer & Essay writing Topic - Day - 22 (ESI, FM & Descriptive) ESI - Q. What is Green Growth? How Government is ensuring Green Growth in India? (600 words) FM - Q. "A Good Leader is a Good Follower". Discuss this statement based on the various leadership theories by giving appropriate example. (400 words) Essay - Discuss the impacts of the digital divide on the education and the health sector. (450 Words) #descriptive Join 👉👉 @descriptive_bankexam

coupled with the anticipated revival of UN-sanctioned international carbon trading, the government can not only stimulate India’s emergence as the world’s leading supplier of carbon offsets, but also provide overarching guidance to industries for their long-term decarbonization plans. ✅ Municipal Bonds or Muni Bonds: - These have internationally proven to be successful tools for cities to raise funds for green infrastructure development. - The success of Ghaziabad’s recent issuance of a Muni Bond for a waste plant and Indore’s Green Bond issuance shows the promise of green financing to build sustainable cities in India through this avenue. ✅ Conclusion: - Execution will be key, both in delivering on past commitments and in creating new opportunities for economic growth. - The Sustainable Alternative towards Sustainable Transportation (SATAT) scheme, announced in 2018 to achieve 5,000 compressed biogas plants by 2023, has only met 1 percent of the target so far. - And only around 60 percent of the 2022 target of 175GW of renewable energy was delivered. - The Union Budget reflects the financial allocations for projects and initiatives framed as green or addressing climate change concerns. - While this focus is important, it needs to be located within the understanding that these finances, once allocated will necessarily translate into specific projects including renewables, plantations or green manufacturing or linear infrastructure. - Each of these sectoral investments requires careful examination on the ecological precautions and the social cost assessments which are elusive in both project design and implementation.

What is Green Growth? Green growth means fostering economic growth and development while ensuring that natural assets continue to provide the resources and environmental services on which our well-being relies. - To do this it must catalyse investment and innovation which will underpin sustained growth and give rise to new economic opportunities. ✅ What Does It Aim to Achieve? - Enhancing productivity by creating incentives for greater efficiency in the use of natural resources, reducing waste and energy consumption, unlocking opportunities for innovation and value creation, and allocating resources to the highest value use. - Boosting investor confidence through greater predictability in how governments deal with major environmental issues. - Opening up new markets by stimulating demand for green goods, services and technologies. - Contributing to fiscal consolidation by mobilising revenues through green taxes and through the elimination of environmentally harmful subsidies. These measures can also help to generate or free up resources for anti poverty programmes in such areas as water supply and sanitation, or other pro-poor investments. - Reducing risks of negative shocks to growth due to resource bottlenecks, as well as damaging and potentially irreversible environmental impacts. ✅ How Government is Ensuring Green Growth? - The finance minister listed “green growth” among four opportunities that can be transformative for India in the run up to 2047, the country’s 100th year of independence. - The other three are: economic empowerment of women, integrating traditional artisans with the MSME sector, and tourism. ✅ Nationally Determined Contribution (NDC): - India formally updated its nationally determined contribution (NDC) to fight climate change, confirming to the United Nations Framework Convention on Climate Change last August that it will reduce the emissions intensity of its Gross Domestic Product (GDP) by 45% from 2005 levels by the year 2030, and source about 50% of its energy requirement from non-fossil fuel-based sources the same deadline. ✅ PM PRANAM: - Programme for Restoration, Awareness, Nourishment and Amelioration of Mother Earth, a scheme that will be launched to incentivise states and union territories to promote alternative fertilizers and balanced use of chemical fertilizers. ✅ GOBARdhan (Galvanizing Organic Bio-Agro Resources Dhan): - Around 500 new ‘waste to wealth’ plants will be launched under GOBARdhan (Galvanizing Organic Bio-Agro Resources Dhan) for promoting circular economy. - These will include 200 compressed biogas (CBG) plants at total investment of ₹10,000 crore. - In due course, a 5% CBG mandate will be introduced for all organizations marketing natural and bio gas. - For collection of bio-mass and distribution of bio-manure, appropriate fiscal support will be provided. ✅ MISHTI (Mangrove Initiative for Shoreline Habitats & Tangible Incomes): - It will focus on mangrove plantations along the coastline and on salt pans through convergence between Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) and Compensatory Afforestation funds. ✅ Amrit Dharohar : - Government will promote conservation techniques of local communities through Amrit Dharohar, a scheme that will be implemented over the next three years to encourage optimal use of wetlands, and enhance bio diversity, carbon stock, eco-tourism opportunities and income generation for local communities. - Coastal shipping will be promoted as an energy efficient mode of transport through PPP mode with viability gap funding. ✅ Agriculture Accelerator Fund: - The Agriculture Accelerator Fund announced in the Budget will provide crucial funding for entrepreneurs to drive innovation. ✅ Green Credit programme: - The Green Credit programme outlined in the Budget to incentivise behavioural change for people, organisations, and local bodies is encouraging. ✅ Energy Conservation Bill: - The Energy Conservation Bill envisions the creation of a domestic carbon market, and

Budget should energise green growth https://www.thehindubusinessline.com/opinion/budget-should-energise-green-growth/article66533412.ece

Securitisation of NPAs raises many concerns The RBI recently came out with a Discussion Paper on the Securitisation of Stressed Asset Framework (SSAF) and sought public comments on several issues by end-February 2023. The objectives of SSAF are not well-defined. If the purpose of SSAF is to develop a vibrant securitisation market, it is most unlikely to pick up. Discussion Paper on Securitisation of Stressed Assets Framework (SSAF) https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=21728 Securitisation of NPAs – Not a panacea for bad loans https://timesofindia.indiatimes.com/blogs/kembai-speaks/securitisation-of-npas-not-a-panacea-for-bad-loans/

❇️ Today's Answer & Essay writing Topic - Day - 21 (ESI, FM & Descriptive) ESI - Q. Describe the impact of GFC on banking system of India. How did India respond to that in short term & long term? (600 Words) FM - Q. What are financial markets? Types and importance of well developed financial markets in an economy (600 words) Essay - Importance of Nutrition education for women in India (450 Words) #descriptive Join 👉👉 @descriptive_bankexam

Internationalisation of Rupee and related issues What is meant by internationalisation of the rupee? - It is a process that involves increasing use of the local currency (ie Rupee) in cross-border transactions. - It involves promoting the rupee for import and export trade and then other current account transactions followed by its use in capital account transactions. Benefits of internationalization of Rupee: - Use of Rupee in cross-border transactions mitigates currency risk for Indian business. - It reduces the need for holding foreign exchange reserves. - Reducing dependence on foreign currency makes India less vulnerable to external shocks. - It will increase the bargaining power of Indian business across the world. Challenges in Internationalisation of Rupee: - Internationalization of Indian currency would also require full capital account convertibility. - At present, the rupee is fully convertible in the current account, but partially in the capital account. - Current and Capital accounts are the two components of Balance of payments. - The dollar accounts for 88.3% of global foreign exchange market turnover, followed by the euro, Japanese Yen and Pound Sterling; the rupee accounts for a mere 1.7%, underlining the need for pushing the currency much farther to get an international tag. Other Refrence Article on : Internationalisation of Rupee and related issues https://www.dhyeyaias.com/current-affairs/articles/internationalisation-of-indian-rupee https://www.drishtiias.com/daily-updates/daily-news-analysis/internationalisation-of-rupee https://timesofindia.indiatimes.com/business/india-business/explained-how-the-indian-rupee-is-going-global-and-drawing-interest-from-more-nations/articleshow/96332970.cms

India’s UPI and Singapore’s PayNow are now integrated What are UPI and PayNow? - Unified Payments Interface (UPI) is India’s mobile-based fast payment system, which facilitates customers to make round-the-clock payments instantly, using a Virtual Payment Address (VPA) created by the customer. It eliminates the risk of sharing bank account details by the remitter. UPI supports both Person-to-Person (P2P) and Person-to-Merchant (P2M) payments and it also enables a user to send or receive money. - PayNow is a fast payment system in Singapore. It enables peer-to-peer funds transfer service, available to retail customers through participating banks and Non-Bank Financial Institutions (NFIs) in Singapore. It allows users to send and receive instant funds from one bank or e-wallet account to another in Singapore by using just their mobile number, Singapore National Registration Identity Card (NRIC)/Foreign Identification Number (FIN), or VPA. What is the UPI-PayNow linkage? - Cross-border retail payments are generally less transparent and more expensive than domestic transactions. The UPI-PayNow linkage is a significant milestone in the development of infrastructure for cross-border payments between India and Singapore and closely aligns with the G20’s financial inclusion priorities of driving faster, cheaper and more transparent cross-border payments. - The project to link both the fast payment systems was initiated in September 2021 to facilitate faster, more efficient and transparent cross-border transactions relating to trade, travel and remittances between the two countries. How will it benefit the citizens of both countries? - The UPI-PayNow linkage will enable users of each of the two fast payment systems to make instant, low-cost fund transfers on a reciprocal basis without a need to get on board the other payment system. - It will also help the Indian diaspora in Singapore, especially migrant workers and students, through the instantaneous and low-cost transfer of money from Singapore to India and vice-versa.

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