Current Affairs – February, 2020

This section is a feed of Current Affairs February, 2020 comprising all Current Affairs National and International importance published in february, 2020 Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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Cabinet Approval: Occupancy rights to Scheduled Tribes of Lakshadweep

On February 26, 2020, the Union Cabinet approved amendments to provide occupancy rights to Scheduled Tribes of Lakshadweep. The approval was provided to amend the Laccadive, Minicoy and Amindivi Islands Land Revenue and Tenancy Regulation, 1965.

Highlights

The Scheduled Tribes in the island did not have occupancy rights so far. The Occupancy right is the right to occupy and use tribal area.

Background

Lakshadweep is an Archipelago with 12 atolls, five submerged banks and three reefs. There are 17 uninhabited islands in the region. According to Census 2011, there are 64,429 persons in the island. Of this 93% of the population are indigenous and the entire indigenous population in the island has been classified as Scheduled Tribes due to their social and Economic Backwardness.

According to the SC and ST list (modification order), 1956, the inhabitants born to both parents born in the islands are alone treated as Scheduled Tribes.

Malayalam is the spoken language in the island.

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EASE 3.0 launched by the Finance Minister to enhance Ease of Banking

On February 26, 2020, the Finance Minister Nirmala Sitaraman launched Enhanced Access and Service Excellence (EASE 3.0). It was launched along with the annual report of EASE 2.0 at a function organized by Indian Banks’ Association.

Highlights

The main aim of EASE 3.0 is to make public sector banking technology enabled and smart. By this the initiative intends to achieve ease of banking for customers. Along with its launch, the GoI has also warned about the over reliance of the state-run banks on credit rating agencies while sanctioning loans.

What is EASE?

EASE is set of technology-based banking reforms. It aims at improvising banking sector with technology. It ensures wider financial inclusion, better banking experience and easier credit distribution.

Significance

The initiative will enhance paperless, digital banking. It will also support other GoI initiatives such as Udyami Mitra, credit take-off, Dial-a-loan and credit at a click. EASE will increase the reach all these initiatives and improve the standards of banking sector.

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