National Institution for Transforming India (NITI) Aayog

Complete Package for Civil Service Preparation by self study :

* IAS4Sure Notes
* The MCQ Factory (TMF)
* Prelims Guidance Program 2021
* Prelims Test Series 2021

  • NITI Aayog was formed on January 1, 2015.
  • It is neither a constitutional nor a statutory body.
  • NITI Aayog is created via an executive resolution of the Union Cabinet.
  • It is the premier policy ‘Think Tank’ of the Union Government, providing both directional and policy inputs.
  • It had replaced the 65-year old Planning Commission established in 1950.
  • Prime Minister is ex-officio Chairperson of the Aayog.
  • NITI Aayog plays important role in designing strategic and long term policies and programmes for the Government.
  • It also provides relevant technical advice to the Centre and States.
  • It also acts as the quintessential platform of Union Government to bring States to act together in national interest, and thereby fosters Cooperative Federalism.
  • It aims to achieve Sustainable Development Goals and to enhance cooperative federalism by fostering the involvement of State Governments of India in the economic policy-making process using a bottom-up approach.

 

Kimberley Process

Complete Package for Civil Service Preparation by self study :

* IAS4Sure Notes
* The MCQ Factory (TMF)
* Prelims Guidance Program 2021
* Prelims Test Series 2021

  • Kimberley Process is joint initiative of governments, industry and civil societies to stem flow of ‘conflict diamonds’, rough diamonds used by rebel groups to finance wars against legitimate governments.
  • It is also described in United Nations Security Council (UNSC) resolutions.
  • India is one of the founding members of KPCS.
  • At present, KPCS has 54 members representing 81 countries including EU with 28 members.
  • The KPCS came into effect from 1 January, 2003 through a United Nations General Assembly Resolution.
  • It outlines the rules that govern trade in rough diamonds.
  • It has evolved into effective mechanism for stopping trade in conflict diamonds.
  • It sets minimum requirements that each participant must meet.
  • In India, the scheme is administered through Department of Commerce under aegis of the Union Commerce and Industry Ministry.
  • Why in news? India was selected as Chair of Ad Hoc Committee on Review & Reforms to look into various issues pertaining to the Kimberley Process Certification Scheme (KPSC).

 

 
What are Conflict Diamonds?
Conflict diamonds or blood diamonds are the rough diamonds used by rebel movements in the third world countries especially in Africa to finance (civil) wars with an aim to topple legitimate governments. The KPCS completely bans import and export of rough diamonds without certification.

National Housing Bank (NHB)

Complete Package for Civil Service Preparation by self study :

* IAS4Sure Notes
* The MCQ Factory (TMF)
* Prelims Guidance Program 2021
* Prelims Test Series 2021

  • NHB is a wholly owned subsidiary of Reserve Bank of India (RBI)
  • It was set up on 9 July 1988 under the National Housing Bank Act, 1987
  • NHB is an apex financial institution for housing.
  • NHB has been established with an objective to operate as a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support incidental to such institutions and for matters connected therewith.
  • NHB registers, regulates and supervises Housing Finance Company (HFCs), keeps surveillance through On-site & Off-site Mechanisms and co-ordinates with other Regulators.
 
NHB Residex:
  • It is a set of benchmarks that aims to track housing price indicators across Indian cities.
  • It is designed by a technical advisory committee comprising Government representatives, lenders and property market player.