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India Post Payments Bank celebrates 7th Foundation Day: Reinforcing commitment to financial inclusion

The IPPB has made significant strides in bridging the financial inclusion gap, leveraging India Post's extensive network of over 161,000 post offices and 1,90,000 postal employees during last seven years

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?Diamond Imprest Licence

✅Recently, the Union Minister of Commerce & Industry announced the introduction of the Diamond Imprest Licence at the 40th edition of the India International Jewellery Show (IIJS) 2024 organised by the Gem & Jewellery Export Promotion Council (GJEPC).

✅The licence allows eligible exporters to import cut and polished diamonds, including semi-processed, half-cut, and broken diamonds.
✅Under this exporters can import diamonds up to 5 per cent of their average turnover from the past three years, with a requirement to add 10 per cent value.
✅These imports must be used by the importer and cannot be transferred, even after exports are completed.
✅This licence was earlier there in the foreign trade policy of 2002 and 2009.
✅Significance:This will provide a level playing field for Indian MSME diamond exporters. It will stop the flight of investment and also introduce more employment opportunities.

*?The Gem & Jewellery Export Promotion Council*

✅It was set up by the Ministry of Commerce, Government of India (GoI) in 1966.
✅It is one of several Export Promotion Councils (EPCs) launched by the Indian Government, to boost the country’s export thrust, when India’s post-Independence economy began making forays in the international markets.

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*?*Government Initiatives to Promote E-commerce in India:

✅Since 2014, initiatives like Digital India, Make in India, Start-up India, Skill India, and Innovation Fund have supported the growth of E-commerce in the country.

✅Government e-Marketplace (GeM): It is an online platform for public procurement in India that was launched in 2016 by the Ministry of Commerce and Industry.
✅Its objective is to create an inclusive, efficient, and transparent platform for the buyers and sellers to carry out procurement activities in a fair and competitive manner.

✅National Retail Policy: In order to administer offline retail and e-commerce in an integral manner, the government had identified five areas in its proposed national retail policy -
?Ease of doing business,
?Rationalisation of the licence process,
?Digitisation of retail,
?Focus on reforms and
?An open network for digital commerce (ONDC).

ONDC:
✅It has been built to promote open networks for all aspects of the exchange of goods and services over digital or electronic networks.
✅It uses open specifications and open network protocols independent of any specific platform.

✅The Consumer Protection (e-commerce) Rules 2020: It directed e-commerce companies to display the country of origin alongside the product listings.
✅In addition, the companies will also have to reveal parameters that go behind determining product listings on their platforms.
✅5G: Heavy investment made by the Government in rolling out a fibre network for 5G will help boost E-commerce in India**.

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?What is the present status of Water resources in India?

✅The country has 18 percent of the world’s population, but only 4 percent of its water resources, making it among the most water-stressed in the world.
✅The average per capita water availability for 2031 has been assessed to be 1367 cubic metres.
✅Around 30% of India’s freshwater is stored as groundwater, mostly in aquifers — bodies of permeable rock and sediment — below the Earth’s surface. With more than 60% of irrigated agriculture and 85% of drinking water supplies dependent on it, groundwater is a vital resource.

?What are the reasons leading to high water stress in India?

✅There is a combination of natural as well as man made reasons:

?Natural reasons:
✅Rainfall variability - The Indian monsoon is highly variable and unpredictable, causing fluctuations in annual rainfall creating temporal water stresses in few regions.
✅Topography– Rain shadow areas of Maharashtra and Karnataka face water scarcity as it does not receive much rainfall. 
✅Geology– Peninsular hard rocks make the region vulnerable to low groundwater reserves. 
✅Seasonal rivers dry out during low rainfall season hence leading to water stress.
✅Natural disasters further can alter the availability of water resources. 

?Human reasons:
✅Faulty agriculture and irrigation practices such as flood irrigation, lead to significant water wastage. Additionally, the cultivation of water-intensive crops like rice and sugarcane in water-scarce regions exacerbates the problem.
✅Industrialization & urbanization is increasing the water demand and lowering the natural recharge of ground water. 
✅Pollution affects the water quality. Industrial discharge, agricultural runoff containing fertilizers and pesticides, and untreated sewage contribute to the pollution of rivers, lakes, and groundwater.
*✅Deforestation and land degradation reduce the ability of natural ecosystems to retain water and recharge groundwater.
✅*Inefficient and poorly planned water management systems,

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