Current Affairs – December, 2017

Latest Current Affairs December, 2017 with Current Affairs, news summary on current events of National and International importance of December, 2017 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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DARPAN Project launched to improve financial inclusion of Rural Population

The Union Ministry of Communications has launched DARPAN (The Digital Advancement of Rural Post Office for A New India) to improve quality of service, add value to services and achieve financial inclusion of un-banked rural population.

DARPAN is Information Technology (IT) modernisation project aimed at realising financial inclusion of un-banked rural population. It offers core banking services to the account holders.

DARPAN Project

The project intends to provide low power technology solution to each branch postmaster (BPM). This will enable each of approximately 1.29 lakhs branch post offices (BOs) to improve service delivery.

It aims to increase rural reach of Department of Posts (DoP) and enable BOs to increase traffic of all financial remittances, savings accounts, Rural Postal Life Insurance and Cash Certificates. It also aims to improve mail operations processes by allowing for automated booking and delivery of accountable article.

It will also increase revenue using retail post business and provide third party applications and make disbursements for social security schemes such as MGNREGS.  The project has an outlay of Rs. 1400 crore and is targeted to complete by March, 2018.

IT modernization project

DoP has undertaken an end to end IT modernization project to equip itself with requisite modern tools and technologies. The IT modernization project intends to achieve wider reach to the Indian populace through more customer interaction channels and better customer service.

As part of it, the DoP will carry out business process reengineering across various functional areas and has created To-Be processes that will enable it to achieve these objectives. So far DoP has established 991 ATMs across country, which are interoperable with other banks and common people have been directly benefited with wide network of DoP especially in rural areas.

Month: Categories: India Current Affairs 2018

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Cabinet approves auctioning of 680 FM channels under Phase III

The Union cabinet has approved auction of 683 private FM radio frequencies in 236 cities across country under Phase III of FM radio privatization. This decision will usher in new/enhanced experience of FM radio in more cities.

The sale of these channels in Phase III is likely to generate direct and indirect employment to more than 10,000 persons on a pan-India basis. It will also yield estimated revenue of more than Rs 1,100 crore.

Key Facts

The third batch of FM auctions will cover cities with no private FM radio presence, including cities in border areas of Jammu and Kashmir and north-east states where the population is less than 100,000. With completion of FM Phase III auctions, the government is planning to cover all the 29 states and 6 out of the 7 union territories (Dadra & Nagar Haveli is the exception) by private FM radio broadcasting.

Background

Earlier, two batches of electronic auctions under Phase III had taken place in 2015 and 2016. 97 channels in 56 cities were sold in the first batch, 66 channels in 48 cities were sold in the second. The total value of sold channels was Rs.1,187 crore. However, government also made more than Rs. 3,000 crore from these auctions with migration fee from 245 stations that moved from Phase 2 to Phase 3.

Month: Categories: India Current Affairs 2018

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