10th NOV, 2022

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MINISTRY OF FINANCE APPROVES INDIA’S FIRST SOVEREIGN GREEN BONDS (SGB)
FRAMEWORK

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A green bond is a fixed-income instrument designed to support specific climate-related or environmental projects.

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SGBs are issued by the Government.
Earlier, Union Budget 2022-23 announced the issuance of SGBs.
Key highlights of framework
A ‘green project’ classification is based on the principles like: Encourages energy efficiency, reduces carbon & GHG emissions etc.

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Eligible projects under the framework include: Renewable energy, clean transportation, water and waste management, green
building etc.
It excludes, nuclear power generation, landfill projects, direct waste incineration, hydropower plants larger than 25 MW etc.
Green Finance Working Committee constituted to validate key decisions on issuance of SGB.

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Proceeds will be deposited with Consolidated Fund of India.
Significance of SGBs GREEN BONDS IN INDIA

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Attract global and domestic investments in eligible green projects. India’s First Green Bond was issued by Yes
Bank Ltd in 2015.
Positive Public Relations, helps in enhancing an issuer’s reputation.
In 2017, SEBI had brought disclosure norms
Investor Diversification, help in tapping the specific global pool of capital. for green bonds whereby issuer will have to
Increase transparency and accountability on use and management of proceeds. make disclosure about environmental

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objectives of issue of such securities.
Contribute to national climate adaptation, food security etc.

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REPORT OF EXPERT COMMITTEE ON SVAMITVA SCHEME RELEASED BY MINISTRY OF
PANCHAYATI RAJ (MoPR)
Report provides guiding principles for States to realize objectives of SVAMITVA Scheme.

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SVAMITVA (Survey of Villages and Mapping with Improvised Technology in Village Areas) scheme is a Central Sector Scheme of
MoPR.
It aims to provide ‘Record of Rights (RoR)’ to household owners in rural areas and issue Property Cards.
RoR is a legal document that gives details about the land and who owns it.
Scheme has been approved for five years- 2020-25.
Objectives of SVAMITVA scheme
Create accurate land records for rural planning and reduce property-related disputes.
Bring financial stability in rural India by enabling use of property as a financial asset for taking loans etc.
Support preparation of Gram Panchayat Development Plan using GIS maps.
PROGRESS SO FAR, UNDER THE SCHEME
Recommendations in the report
Property cards have been prepared in
Create systems that promote transparency in implementation. around 58,000 villages.
Promote adoption of RoR for availing bank loan. 31 states and UTs have signed MoU with
Develop linkages between different departments for informed decision-making Survey of India for implementation of the
related to property tax assessment and collection. Scheme.

Adoption of RADPFI (Rural Area Development Plan Formulation and Drone flying has been completed in 1.87
Implementation) Guidelines and SVAMTIVA data for accurate village level-planning. lakh villages.

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MAKING GOOD ON GLASGOW CLIMATE PACT: A CALL TO ACTION TO ACHIEVE ONE

GIGATON OF EMISSIONS REDUCTIONS FROM FORESTS BY 2025 REPORT
Report was released by
RELATED TERMS
UN Programme on Reducing Emissions from
Deforestation and Forest Degradation (REDD), UN- REDD (Reducing Emissions from Deforestation and Forest Degradation
in Developing Countries) Programme:
UN Environment Programme World Conservation
Its goal is to help realise forest solutions to climate emergency by
Monitoring Centre (UNEP-WCMC) and

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Green Gigaton Challenge (GGC).
Key highlights of report
World is not on track to achieve forest goals of
ending and reversing deforestation by 2030.
avoiding carbon emissions and fostering carbon sequestration.
Launched in 2008 by collaborative efforts of UN Food and Agriculture
Organization, UN Development Programme and UNEP.
REDD+ aims to reduce emissions from deforestation and forest degradation,
as well as the sustainable management and conservation of forests.

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Current public and private commitments to pay for It is commonly referred to as Warsaw Framework for REDD+ adopted at COP 19
in Warsaw, December 2013.
emissions reductions are only at 24% of GGC.

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GGC is a global effort to catalyse funds to transact one gigaton of
high-quality emissions reductions from forest-based natural climate INTER-MINISTERIAL COMMITTEE
solutions by 2025 and annually after that.
Only half of these commitments have been realized through signed
ON JUST TRANSITION FROM
emissions reduction purchase agreements. COAL SUGGESTS SETTING UP
GREEN ENERGY TRANSITION

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Recommendations
Upfront investment in REDD+ readiness to ensure capacity and action to
achieve emissions reductions results. INDIA FUND
Equity through equitable participation and benefits sharing with Indigenous Committee was formed under Sustainable
Peoples and Local Communities. Growth Pillar of India-US Strategic Clean

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Energy Partnership.
Unlock supply and leverage demand through incentives (increasing forest
carbon floor price). Mandate: To develop an actionable policy

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Real and Robust emissions reductions from forests, with robust brief for India for the coal sector and
quantification, mechanisms to deal with leakage and reversals etc. explore regional collaboration and strategies.

SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI)

Coal consumption in the country is likely to
peak between 2035 and 2040 and may
FLOATS DISCUSSION PAPER FOR STRENGTHENING undergo gradual tapering thereafter,

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owing to transition toward renewable
GOVERNANCE OF MARKET INFRASTRUCTURE energy.

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INSTITUTIONS (MIIs) Just Transition means greening the economy
in a way that is as fair and inclusive as
Earlier, committee on Strengthening Governance of MIIs was set up by SEBI.
possible to everyone concerned, creating
MIIs are institutions providing infrastructure of trading, settlement and record decent work opportunities, and leaving no
keeping and include stock exchanges, clearing corporations and

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one behind.
depositories.
Need for Just Transition
Need for strengthening governance standard at MIIs
Unique role of MIIs, i.e. acting as first-level regulators in the securities India is second largest consumer of coal.
market with commercial interests. Coal accounts for 55% of India’s energy needs
Key Element in Economic Growth as they provide public utility infrastructure and 75% of electricity needs.
for trading, clearing & settlement and holding securities. At the same time, coal mining leads to loss of
Instances of governance lapses. E.g. co-location scam at NSE. forests, biodiversity and GHG emissions.
Increasing use of technology and rapidly changing market dynamics. Prerequisites for a Just Transition
Committee recommendations Coal Transition Policy to provide necessary
Categorize MIIs into 3 verticals viz. Critical Operations; Regulatory, administrative and legal backing.
Compliance and Risk Management; and Other functions including Business
Regional Development Framework from
Development.
Coal-bearing States, in consultation with local
At least 2/3rd members of the board shall comprise Public Interest Directors. communities.
Clearly outline roles and responsibilities of directors. Setting up a dedicated non-lapsable 'Green
Enhancing Transparency: Disclose the agenda and minutes of meetings of Energy Transition India Fund' to restore
the board. ecology and help people deal with the coal
Enhance Technology Use to implement a transparent governance framework. mine closures.
Other Recommendations: Single Code of Conduct for directors and Key It suggested a three-tiered task force to enable
Management Personnels. just transition.

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CENTRE ALLOWS INTERNATIONAL TRADE SETTLEMENTS IN INDIAN RUPEES FOR EXPORT

PROMOTION SCHEMES UNDER THE FOREIGN TRADE POLICY (FTP)
With amendment to FTP, invoicing, and settlement of exports/imports etc. can now take place in Indian rupee.
Before this, incentives to exporters in form of duty drawbacks, etc. were available only if payments came in freely convertible
currencies.
These are the US dollar, British pound, euro and Japanese yen.
This will give further push to internationalization of the rupee.

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Internationalization means use of the currency for invoicing and settlement of cross-border transactions, freedom for
non-residents to hold financial assets in that currency etc.
How it works?
Banks in India would open Vostro accounts of Other initiatives for rupee internationalisation

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correspondent bank/s of the partner country for trading.
A Vostro account is an account that a correspondent bank

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holds on behalf of another bank, e.g. an HSBC Vostro
account is held by SBI in India.
Indian importers can pay for their imports in INR into these
accounts.
Benefits of Internationalisation of rupee

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Reduced Foreign Exchange Reserves requirement.
Reduced Vulnerability to External Shocks.
Other Benefits: Lower transaction Costs; Facilitate trade
with countries under global sanctions etc.

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Challenges
Complicates Domestic Monetary Policy by limiting its

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effectiveness.
Heightened Exchange Rate Volatility.

ALSO IN NEWS

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Justice D. Y. Chandrachud took oath as the 50th Chief Justice of India.
The CJI and the Judges of the Supreme Court are appointed by the President under clause (2) of

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Article 124 of the Constitution.
Memorandum of procedure of appointment of Supreme Court Judges states that, The CJI should be
senior most Judge of Supreme Court considered fit to hold the office.
The next CJI name is recommended by the outgoing CJI.

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Chief Justice of India (CJI) After receipt of the recommendation, Union Minister of Law, Justice and Company Affairs will put
up the recommendation to Prime Minister who will advise the President in the matter of
appointment.

EBS amended to allow sale for additional 15 days in year of general elections to assembly of
States and UTs with Legislature.
The bonds are usually made available for a period of ten days each in the months of January,
April, July and October.
EBS, introduced in 2018, are interest-free bearer instruments used to donate money
anonymously to political parties.
Electoral Bond Scheme They can be purchased by a citizen of India or entities incorporated or established in India.
(EBS) State Bank of India is only bank authorised to sell them.

The ‘Transport4All’ Challenge is an initiative of Ministry of Housing and Urban Affairs.

Transport 4 All Challenge
Stage-2
It aims at enhancing the mobility experience of citizens and focuses on digital innovation to
improve mobility needs of all citizens.
Stage 1 of the Challenge was launched in 2021.
It is organised in partnership with Institute for Transportation and Development Policy and Word
Bank, Startup India etc.

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Ministry of Housing and
Urban Affairs launches
Citizen Perception Survey
(CPS)
Extradition
Guidelines for Uplinking
and Downlinking of
Satellite Television
Channels in India, 2022
Self Reliant India (SRI) Fund
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Atal New India Challenge
(ANIC)
Measles
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8468022022 www.visionias.in
It is part of the Ease of Living Index seeking to directly capture the perception of citizens with
respect to the quality of life in their cities.
CPS was first conducted in 2020.
It carries 30% of the marks under Ease of Living Index.
The survey will help government understand the opinion of citizens and help improve service
delivery and governance of cities.
National Institute of Urban Affairs (a think tank) and Quality Council of India (non-profit
organization) is undertaking CPS.
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UK High Court allowed Nirav Modi's extradition to India.
India-UK Extradition Treaty was signed in 1992.
About Extradition
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Indian Supreme Court defined extradition as delivery on part of one state to another of those
whom it is desired to deal with for crimes of which they have been accused or convicted and
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are justifiable in courts of other state.
Extradition requests can be initiated in case of under-investigation, under-trial and convicted
criminals.
Ministry of External Affairs is central authority that handles all extradition requests.
Extradition Act 1962 governs extradition of a fugitive from India to a foreign country, or vice
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versa.
Cabinet has revised the guidelines for Satellite Television Channels after a period of 11 years.
Communication going from a satellite to ground is called downlink, and going from ground to a
satellite it is called uplink.
Key Provisions:
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Obligation to telecast content in National/Public Interest for 30 minutes every day.
Mandatory for channels uplinking in frequency band other than C-band to encrypt their signals.
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Indian teleports may uplink Foreign channels.
No prior permission for live telecast of events; only prior registration of events to be telecast
live would be necessary etc.
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SRI Fund has committed ₹5,000 crore to fund Micro, Small and Medium Enterprises (MSMEs).
SRI Fund is a SEBI-registered Category II Alternative Investment Fund (AIF), launched in 2020
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by the government to provide growth capital to MSMEs.
It is anchored by NSIC Venture Capital Fund and SBICAP Ventures is the investment
manager.
It operates through the mother-fund and daughter-fund structure.
As a mother fund, it invests up to 20% of the overall corpus of daughter fund, and
the latter raises the balance 80% capital from outside sources.
Atal Innovation Mission (AIM) has launched women centric challenges under its ANIC program to
address the major issues faced by women from all spheres of life.
ANIC is a flagship program of AIM, NITI Aayog.
It aims to seek, select, support and nurture technology-based innovations that solve sectoral
challenges of national importance and societal relevance.
It provides funds up to ₹1 crore through a grant-based mechanism and open for:
Any Indian Company incorporated under Companies Act,
Any company registered as a Start-up, recognized by Department for Promotion of Industry
and Internal Trade.
Ministry of Health and Family Welfare has deputed a high-level team to Mumbai to manage Measles
cases.
About Measles
It is a highly contagious viral disease.
Caused by virus in paramyxovirus family.
Spread by coughing and sneezing, direct contact with infected nasal or throat secretions.
It is a human disease and is not known to occur in animals.
It can be prevented with MMR (measles, mumps, and rubella) vaccine.
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