OECD Index for Services
Category: International
- India has found problems with the current method under which the Organisation for Economic Cooperation and Development (OECD) ranks countries based on their services trade policies, indicating the outcomes are biased and counter-intuitive.
- For example, the index seems to show the Indian services sector as one of the most restrictive, particularly in policy areas like foreign entry.
- Launched in 2014, the Services Trade Restrictiveness Index (STRI), computed by the OECD, is now available for 2018 for a total of 45 economies (36 OECD and the rest non-OECD) and 22 sectors.
- The OECD index has a large number of problems associated with it, including some significant design issues that render it impractical for use, a study commissioned by the Commerce Ministry found.
Artemis
Category: Sc & tech
- NASA is to return to the moon by 2024.
- The mission back to the moon would be called Artemis.
- In Greek mythology, Artemis is the twin sister of Apollo..
NPA
Category: Economy
- The banking sector’s gross non performing assets (NPA) ratio is estimated to have declined to 10 per cent in end-March 2019 from 11.5 per cent the year before.
- It happened as recoveries through the Insolvency and Bankruptcy Code (IBC) helped banks recovery bad loans.
- The IBC requires a corporate insolvency resolution process (CIRP) to be completed in 180 days, which can be extended by another 90 days to a maximum of 270 days.
- These time limits were set in to ensure that recovery of non performing assets (NPAs) happen in a time-bound manner and banks are able to reduce the quantum of stressed assets of more than Rs 10 lakh crore.
- As on March 31, 2019, out of total 1143 that were undergoing resolution under the IBC, a total of 548 cases exceeded the 180-day deadline. This reflects that in nearly 48 per cent of the cases, resolution could not be achieved within 180 days. A total of 362 cases – or 31.67 per cent of the ongoing CIRPs – surpassed the outer limit of 270 days set out in the IBC.
GFDRR
Category: International
- India is unanimously chosen as co-chair of the Consultative Group (CG) of Global Facility for Disaster Reduction and Recovery (GFDRR) for the fiscal year 2020.
- The decision was taken during the CG meeting of GFDRR held in Geneva, Switzerland today, on the margins of the 6th Session of the Global Platform for Disaster Risk Reduction (GPDRR) 2019.
- The CG Meeting was co-chaired by Africa Caribbean and Pacific (ACP) Group of States, the European Union (EU) and World Bank.
- GFDRR is a global partnership that helps developing countries better understand and reduce their vulnerability to natural hazards and climate change.
- GFDRR is a grant-funding mechanism, managed by the World Bank, that supports disaster risk management projects worldwide.
- India became member of CG of GFDRR in 2015 and expressed its interest to co-chair in last meeting of CG held in October 2018.
- India’s candidature was backed by its consistent progress in disaster risk reduction (DRR) in the country and its initiative to form a coalition on disaster resilient infrastructure.
- This is the first time that the country has been afforded the opportunity of co-chairing the CG meeting of GFDRR.
