1.New IPR Policy
- Intellectual property rights (IPRs) refers to the general term for the property rights through patents, copyrights and trademarks. These property rights allow the holder to exercise a monopoly on the use of the item for a specified period.
- The Policy lays down the following seven objectives such as a) To create public awareness about the economic, social and cultural benefits of IPRs b) Generation of IPRs c) To have strong and effective IPR laws d) To modernize and strengthen service oriented IPR administration e) Commercialization of IPRs f) To strengthen the enforcement and adjudicatory mechanisms for combating IPR infringements g) To strengthen and expand human resources, institutions and capacities for teaching, training, research and skill building in IPRs.
- The National Intellectual Property Rights (IPR) Policy will endeavor for a “Creative India; Innovative India: रचनात्मक भारत; अभिनव भारत”.
- A seven pronged plan is to revamp functioning of public sector banks.
- The seven reform areas include appointments, board of bureau, capitalisation, de-stressing, empowerment, framework of accountability and governance reforms.
- Banks board of bureau will replace existing appointments board. Banks board bureau would also hold bad assets of public sector banks.
- Under recapitalisation plans for Public Sector Banks, 13 banks to get Rs 20,058 crore this financial year.
3.Innovation Council of Indian Railways – ‘Kayakalp’
- Headed by Ratan Tata, Kaya Kalp committee has been set up to transform the Indian rail network.
- The committe aims to work in areas such as develop an action plan to reduce the recurring train mishaps, address concerns over human errors, address large-scale vacancies of safety-related posts, increase accessibility to trains from low level platforms, Increase capacity of coaches , Digital capabilities at stations etc.
4.Insolvency and Bankruptcy Code, 2015
- The Insolvency and Bankruptcy Code, 2016 (IBC) is the bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy.
- Insolvency is when any organization or individual is not able to meet its financial obligations with its lenders.
- Aims to ensure time-bound settlement of insolvency, enable faster turnaround of businesses and create a database of serial defaulters.
- The Code received the assent of the President of India on 28 May 2016.
5. Mudra bank
- Micro Units Development and Refinance Agency Bank (or MUDRA Bank) is a public sector financial institution in India.
- It provides loans at low rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs.
- The bank will classify its clients into three categories and the maximum allowed loan sums will be based on the category such as Shishu (शिशु): Allowed loans up to Rs.50,000, Kishore (किशोर): Allowed loans up to Rs.5 lakh and Tarun (तरुण): Allowed loans up to Rs.10 lakh.