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Why in the news? The Prime Minister launched Bima Sakhi Yojana to empower women with financial literacy, training, and employment opportunities through Life Insurance Corporation (LIC) in Haryana’s Panipat. Overview of Bima Sakhi Yojana Launch: Recently unveiled by the Prime Minister in Panipat, Haryana. Objective: Empower women through financial literacy and employment opportunities. Target Group: …
Read MoreWhy in the news? The General Provident Fund (GPF) highlights its benefits, flexibility, and role in ensuring financial security for government employees, as its features are being revisited for enhanced awareness. About General Provident Fund (GPF): The General Provident Fund (GPF) is a retirement savings scheme launched in 1960 exclusively for government employees in India. …
Read MoreRelevance: GS – 3 – Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. Why in the News? The Reserve Bank of India (RBI) has retrieved approximately 130 metric tonnes of gold previously held in safe custody with the Bank of England over the last two-and-a-half years. This strategic shift …
Read MoreWhy in the news? The EDLI scheme has gained attention as the government recently increased the maximum assured benefit to Rs 7 lakh, enhancing social security for private sector employees, especially during uncertain times of employment and economic fluctuations. Overview of EDLI Scheme: The Employees Deposit Linked Insurance (EDLI) Scheme was launched in 1976 by …
Read MoreSyllabus: GS 3: Indian Economy and Issues Investments and effects on Growth. Focus: The Systematic Withdrawal Plan (SWP) is gaining attention as a flexible investment tool for retirees to manage inflation, generate regular income, and minimize risks, offering a tax-efficient alternative to traditional fixed deposits. Overview of Systematic Withdrawal Plans (SWP) Definition: A Systematic Withdrawal …
Read MoreSyllabus: GS 2: Government Policies and interventions. Welfare schemes for the vulnerable section of the population. Focus: Government has cleared the new Unified Pension Scheme to substitute the National Pension System for the central employees on 1st April of 2025. This new scheme intends to give a clearer pension planning for civil servants and will …
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