Descriptive Writing Topics Essay For Mains Exam

Descriptive Writing Topics Essay For Mains Exam

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Crypto Currencies- Pros and Cons

Introduction:

Crypto Currency is nothing but digital form of money which was destined to use as a medium of

exchange or transaction. The First Crypto currency was relased in 2009 named as Bit Coin, which is the

first decentalized cryptocurrency. This Digital asset use online ledger with strong cryptography. Let’s

see about pros and cons of crypto currency.

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Pros of Crypto Currency:

Cryto currency is not come under inflation. The reason is Cryptocurrency has its fixed amount of value

from the time its declared. So crypto current value will increase with increase of demand so

cryptocurrency avert inflation. Crypto currency is self governed and managed, the cryptocurrency

exchanges are enrolled through hardware of users/developers/miners. The user will receive the reward

by means of the transaction fee. One of the major pros of cryto currency is cost effective mode of

transaction across borders. As we as we can do the fast transaction in crypto currency when compared

to other currency. Cypto currency can be easily exchanges to other cypto currency.

Cons of Crypto Currency:

Although strong cryptography and privacy polices are used for transaction and storage process some

illegal transaction may occur. Even government also can’t trace that illegal transaction. Other

complicated issue in Crypto currency is, if user lost their privacy key or other important data, it couldn’t

recover back. If someone make the truncation to wrong wallet it won’t reterived by sender. This no

refund or cancellation policy can used to cheat many people.

Exchange Trade Fund

Introduction

An exchange-traded fund (ETF) is a collection of securities that trade on an exchange, exactly like a

stock. ETFs are in many ways similar to mutual funds the only major difference between the two is that

ETF share prices fluctuate all day as it is sold and bought; on the other hand mutual funds trade once

a day after the market closes.







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Key points:

• ETFs contain different kinds of investments such as stocks, commodities, or bonds;

• ETFs offer fewer broker commissions and low expense ratios than buying the stocks individually.

• ETFs are cost-effective and more liquid compared to mutual funds.

• ETFs can be used for speculation, price increases,

• income generation and to hedge or partly offset risk in an investor's portfolio.

Types of ETFs:

There are various types of ETFs available to investors that can be used below are several examples of

the types of ETFs.

•Bond ETFs - Bond ETFs include government bonds, corporate bonds, and state and municipal bonds.

•Industry ETFs - These ETFs are related to a particular industry such as technology, banking, or the oil

and gas sector.

•Commodity ETFs - ETFs used for investing in commodities including crude oil or gold.

•Currency ETFs - Investor can invest in different foreign currencies.

•Inverse ETFs These ETFs are used to earn gains from stock declines by shorting stocks. Shorting

means selling a stock when it is expected to decline in value, and repurchasing the same stock at a

lower price.







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Ek Bharat Shreshtha Bharat

Ek Bharat Shreshtha Bharat is an initiative of The Central Government announced on the occasion of

the 140th birth anniversary of Sardar Vallabhbhai Patel by Prime Minister Narendra Modi. The Finance

Minister included the initiative in his Budget Speech for 2016-17.

• To celebrate the unity in diversity

• To promote the spirit of national integration

• To exchange the rich heritage and culture, customs and traditions of states.

Ek Bharat Shreshtha Bharat aims at taking innovative steps to enhance the interaction between the

people of the different region to enhance the knowledge of the culture, traditions and practices of

different states & UTs, to increase the understanding and bonding between the states.

The initiative is a mission for States and UTs to enhance their cultural, academic and economic ties by

entering into an engagement with the paired States/UTs covering multiple areas such as music, drama,

cuisine, language, history, tourism and other forms of exchange between the people of states and

districts.

All States and UTs will be included in this programme. They will be paired at the national level and these

pairings will remain in effect for one year, or till the next pairing is done. District level pairings will also

be done; they will be independent of the State level pairings. Various activities will be undertaken to

strengthen the relations these activities will include annual programmes that will connect people

through exchanges in areas of culture, tourism, language, education trade etc.







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Paris Climate Agreement

The Paris Agreement is a legally binding international treaty on climate change. It was adopted by 196

Parties at COP 21 in Paris, on 12 December 2015 and entered into force on 4 November 2016. Its goal

is to limit global warming to well below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial

levels. To achieve this long-term temperature goal, countries aim to reach global peaking of greenhouse

gas emissions as soon as possible to achieve a climate neutral world by mid-century.

The Paris Agreement is a landmark in the multilateral climate change process because, for the first

time, a binding agreement brings all nations into a common cause to undertake ambitious efforts to

combat climate change and adapt to its effects.

Implementation of the Paris Agreement requires economic and social transformation, based on the best

available science. The Paris Agreement works on a 5- year cycle of increasingly ambitious climate action

carried out by countries. By 2020, countries submit their plans for climate action known as nationally

determined contributions (NDCs).

Pneumosil Vaccine- Pneumonia

PNEUMOSIL (Pneumococcal Conjugate Vaccine) is India’s first indigenously developed pneumococcal

vaccine. It will help in fighting against pneumococcal pneumonia amongst children. It will be available

in single-dose (vial and prefilled syringe) and multi-dose (vial). Pneumosil got licensed from the Drugs

Controller General (India) in July 2020. PCV work directly by preventing Streptococcus pneumonia and

reduces the incidence of pneumococcal pneumonia. Five randomized and controlled clinical trials of

PNEUMOSIL took place in Africa and India on people of different age groups. The vaccine has shown

comparable safety and immunogenicity against licensed vaccines for pneumonia.







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The vaccine is developed by, Pune-based Serum Institute of India (SII), In collaboration with health

organisation PATH and the Bill and Melinda Gates Foundation. SII has become the first developing

country vaccine manufacturer to access the global PCV market and third supplier of pneumococcal

conjugate vaccine (PCV) under the pneumococcal Advance Market Commitment. PCV will be affordable

and accessible to low-and middle-income countries.

Pneumococcal is an infection caused by the bacteria pneumococcus or Streptococcus pneumoniae, it

is common in young children. It is a significant contributor to the under-five mortality rate worldwide.

The pneumococcal bacterium, which causes pneumonia is responsible for other severe life-threatening

diseases such as meningitis and sepsis.

Pneumosil vaccine is developed by SII to fight against pneumonia. It is caused by pneumococcus or

Streptococcus pneumonia bacteria. The vaccine is cheaper as compared to its alternative.

Pradhan Mantri Gramin Awas Yojana Gramin

Pradhan Mantri Gramin Awas Yojana Gramin shortly named as PMAY-G targets to accomplish the

housing needs of the rural side below poverty line people. Its intention is to arrange financial assistance

and/or pucca houses along with all the basic facilities, like power supply, sanitation, etc. to families

without houses or living in kutcha and dilapidated houses in rural areas of India, except Delhi and

Chandigarh.

Under Pradhan Mantri Gramin Awas Yojana Gramin scheme totally 4,331 towns and cities are added.

There are 3 phases in this scheme progress:

• Phase 1: PMAY phase 1 covers 100 cities in select States/UTs between April 2015 and March

2017

• Phase 2: PMAY phase 2 covers 200 additional cities between April 2017 and March 2019

• Phase 3: PMAY phase 2 covers the remaining cities between April 2019 and March 2022







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The Ministry of Housing and Urban Poverty Alleviation will have the ability to include additional cities

in priliminary phases if there is a resource backed demand from states and union territories.

Pradhan Mantri Awas Yojana – Urban (PMAY-U) is reaching its target of meeting the ‘Housing for All’

goal in urban areas. The scheme, which has a deadline of 2022, has sanctioned over 88 lakh houses till

now. A total of 2.99 lakh houses have been sanctioned as part of 865 proposals from 10 states. With the

approval of above fresh proposals, cumulative sanctions of houses under PMAY-U is now 88.16 lakh

against a validated demand of 1.12 crore.

Chandrayaan 2 Mission

Chandrayaan-2 mission is a lunar mission, the name itself gives the information. This lunar mission is

second moon mission which was developed by Indian Space Reasearch Organization (ISRO) after the

successful mission of Chandrayaan 1. It incorporates with an Orbiter, Lander and Rover to explore the

unexplored South Pole of the Moon.

This Chandrayaan 2 mission is planned to stretch the lunar scientific knowledge through detailed study

of topography, seismography, mineral identification and distribution, surface chemical composition,

thermo-physical characteristics of top soil and composition of the tenuous lunar atmosphere, leading

to a new understanding of the origin and evolution of the Moon.

On August 20, 2019, Chandrayaan-2 was successfully placed in the lunar orbit. While orbiting the moon

in a 100 km lunar polar orbit, on September 02, 2019, Vikram Lander was separated from the Orbiter in

preparation for landing. Vikram Lander descent was as planned and normal performance was observed

upto an altitude of 2.1 km. Subsequently communication from lander to the ground stations was lost.

Eventhough the vickram lander is not landed successfully, the Orbiter placed in its intended orbit around

the Moon will enhance our understanding of the moon’s evolution and mapping of the minerals and

water molecules in Polar regions, using its eight state-of-the-art scientific instruments.







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Contactless Payment System

The contactless payment system is a system, where consumers purchase products or services using

their debit, credit, smartcard, or another payment device using near-field communication (NFC) or radio

frequency identification (RFID) technology.

Radio-frequency identification (RFID) technology allows the card to communicate with the card reader

when the card is held near the reader during a transaction. Near-Field Communication chip is an

upgraded version of radio-frequency identification (RFID) technology. E-payment apps run on a device

equipped with an NFC. Under NFC Smartphone’s send/ receive information using radio-waves over a

short-range. In the contactless payment system, all transactions take place in codes hence protected

from hackers.

Features of Contactless Payment System

1. Under this method payment is done through Smartphone or card, the user doesn't need a PIN to

approve the transaction or signing receipts.

2. This is a secure mode of payment as it uses data encryption during the transmission of sensitive

information, which reduces the threat of hackers stealing valuable information.

3. The contactless payment systems are available on various mediums such as key fobs,

Smartphone’s, vehicles, or any other mobile system.

4. Only customers who have e-payment apps on their mobile phone can use this technology as they

will need a mag stripe to make payment.

5. The user cannot change the limit per transaction of a contactless payment card, chosen by the

bank.

Contactless cards can make payment quick and easy: The tap-and-go process usually takes less than

a second; it is faster than inserting or dipping a chip card or using cash. Each contactless transaction

creates a unique, one-time code or password, which reduces the security risk.







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Ramsar Convention

Introduction

The Ramsar Convention or the Convention on Wetlands is an international treaty for the conservation

and sustainable use of wetlands. The convention is named after the city of Ramsar in Iran, where the

convention was signed in 1971, and the convention came into force in 1975.

The convention was co-founded by Luc Hoffmann, and Geoffrey Matthews of the Wildfowl & Wetlands

Trust and Eskandar Firouz (former environment minister of Iran), at Slimbridge in the late 1960s. The

terms of the agreement were adopted in a conference, held on 2 February 1971 in the Iranian Caspian

Sea resort of Ramsar.

Objective

The Ramsar Convention encourages the designation of sites containing unique or rare wetlands, or

wetlands that are essential for maintaining biological diversity and promoting the conservation and wise

use of wetlands. Once designated, these sites join the Convention's List of Wetlands of International

Importance and are known as Ramsar sites. The Ramsar Convention is the only global treaty that

focuses on a single ecosystem.

Organizations Involved

The Ramsar Convention works closely with six other organisations, commonly known as international

organization partners (IOPs). The IOPs of Ramsar Convention are International Water Management

Institute (IWMI), Wetlands International, BirdLife International, International Union for Conservation of

Nature (IUCN), WWF International, and Wildfowl & Wetlands Trust (WWT).







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Misc. Information

Till now 170 countries have signed the Ramsar Convention. The United Kingdom has the most number

of Ramsar sites, 175 and Mexico has the second-highest 142. Chilika Lake is the first and the largest

Ramsar Site of India with a surface area of 1, 16,500 hectares. Information on each Ramsar site can be

obtained, from the Ramsar Sites Information Service (RSIS).

NETRA

NETRA is Network for space object Tracking and Analysis project launched by ISRO. The project

estimated cost is ₹400 crore. NETRA is an early warning system to guard Indian satellites and other

assets, in space by predicting threats from debris and other hazards to Indian satellites. NETRA when

in place will give India its capability in space situational awareness (SSA) like the other space power by

issuing an early warning against missile or space attack.

Under the project, ISRO is planning to set up multiple observational facilities like connected radars,

telescopes, data processing units and a control centre which will spot, track and catalogue objects

which are as small as 10 cm, up to a range of 3,400 km and equal to a space orbit of around 2,000 km.

Its ultimate goal is to capture the geostationary orbit (GEO) at 36,000 km where communication

satellites serve. ISRO’s NETRA, SSA Control Centre, is set up within the ISTRAC campus at Peenya,

Bangalore. SSA will first operate for low-earth orbits or LEO, at present, there are 15 Indian

communication satellites in GEO and 13 more in the sensing satellites in LEO. To get a clear SSA picture,

ISRO will use the Multi-Object Tracking Radar (MOTR). Till now only America, Russia and Europe can

track space objects and share collision warnings.







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There are floating particles of dead satellites or rocket parts that stay in orbit for many years. Majority

of the particles are in low Earth orbit. Because of their high orbiting speed, a crash with even a small

particle can damage a spacecraft. The amount of debris in space threatens both crewed and uncrewed

spaceflight as they disable onboard electronics and cripples the satellite. NETRA will help in detecting

these particles and will save satellites worth several hundred crore rupees.

Regulatory Sandbox

The regulatory sandbox is a framework where the live examination of a new product or service in a

regulated environment for which regulators may or may not allow certain relaxations for the limited

purpose of the testing. The RS allows the regulator, customers, innovators and financial service

providers and to conduct field experiments to collect evidence on the benefits and risks of new products

and systems.

The central bank had announced the opening of the second cohort,

• The theme of the first Regulatory Sandbox was 'Retail Payments'.

• The theme of the second RS is 'Cross Border Payments'

• The theme of the third RS will be 'MSME Lending' and will be announced soon.

The Cohort is expected to encourage innovations by leveraging new technologies to meet the needs of

a low cost, secure, convenient and transparent system of payment. To stimulate innovation and increase

the eligibility criteria, the net worth requirement for entities interested in participating has been reduced

from Rs 25 lakh to Rs 10 lakh and has also allowed the participation of Partnership firms and Limited

Liability Partnership (LLPs).

An entity may not be eligible for the RS if the proposed financial service is similar to an existing one in

India unless the applicants can convince that either a different technology is being applied or the same

technology is being implemented in a more effective and efficient manner.







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As per the RBI, there are multiple benefits of RS such as it fosters 'learning by doing' on all sides, RS

could lead to better results for consumers through an enhanced range of products and services, reduced

costs and improved access to financial services.

The target firms for the RS are fintech companies, including financial institutions, startups, banks, any

other company, Limited Liability Partnership (LLP) and partnership firms partnering with or providing

support to financial services businesses.

Viability Gap Funding Scheme

Viability Gap Funding (VGF) is financial support granted by the government to support infrastructure

projects that are economically justified but fall short of financial viability. The government provides

financial support to these projects by means of viability gap funding to public-private partnerships

(PPPs) which are involved in infrastructure projects in sectors such as health, education, water and

waste treatment. Public-Private Partnerships (PPPs) will include collaboration between a government

agency and private-sector companies that can be used to finance, build, and operate multiple projects.

The VGF scheme was launched in 2004, the scheme is administered by the Ministry of Finance. The

grant under VGF will be provided as a capital subsidy to pull the private sector players to participate in

PPP projects that are otherwise financially unviable.

Extension of the VGF Scheme to Social Infrastructure Projects:

Sub Scheme -1:

• Eligibility: The projects should have 100% Operational Cost recovery.

Objective: To benefit sectors such as Waste Water Treatment and Water supply, Solid Waste

Management, Health and Education sectors etc.







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• VGF Amount: A maximum of 30% of Total Project Cost (TPC) as VGF will be provided by

the central government and State Government/Sponsoring Ministry may provide additional

support up to 30% of TPC.

Sub Scheme -2:

• To support pilot social sectors projects which have at least 50% Operational Cost recovery.

VGF Amount: the Central Government will provide a maximum of 40 % and the central and

State Governments together will provide up to 80% of capital expenditure and up to 50% of

Operation & Maintenance (O&M) costs for the first five years.

Point of Sale Terminals

A point of sale (POS) is a point where customers make payment for goods or services they bought or

consumed. A POS transaction can occur in person or online. The technology used for collecting

payments at POS is called point-of-sale (POS) terminal. It is a hardware system enabled with software

which can read magnetic strips of credit and debit cards for processing payments.

When a credit card or debit card is used to pay for something POS terminal reads the magnetic stripe

of the card to check for sufficient funds in the customer's account to transfer it to the merchant's

account and then makes the payment. The transaction is recorded, and a receipt is either printed or

sent to the buyer via email or text. Merchants have the option to either buy or lease a POS terminal,

depending on how they prefer to manage cash flows.

Software used in POS can be made as per operators need. In the POS software interface, the operator

can input data about the products they sell, tally order costs and transact financially. The POS software

helps you to process orders in a retail store, Restaurants and places where customers don't want to

wait to make payments.







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POS terminals are used for payments and can detect all modes of payments over swipe and chip-based

cards. Modern POS Terminals can detect NFC/ contactless cards and other payment options such as

Apple Pay, Samsung Pay, Google Wallet etc. The National Cash Register (NCR) developed the first point

of sale system.

Payments Settlements systems

Payment and settlement systems come under the Payment and Settlement Systems Act, 2007,

legislated in December 2007. PSS is regulated by the Board for Regulation and Supervision of Payment

and Settlement Systems and the Reserve Bank of India.

Payment and settlement system is a collection of payment instruments, common rules and procedures

for the implementation of clearing, transfer of funds and execution of final settlement, the system is

used to provide a payment to a beneficiary. The RBI is trying to introduce multiple methods for

payments, which will bring safe, sound and efficient modes of the payments system and make the whole

process easier for banks and customers.

India has both gross and net settlement systems. For gross settlement, India has a real-time gross

settlement (RTGS) system and for net settlement, India has multiple methods such as Electronic

Clearing Services, credit cards, debit cards, the National Electronic Fund Transfer (NEFT) system,

Electronic Clearing Services, Immediate Payment Service and Unified Payments Interface (UPI). Other

payments methods are is paper-based instruments, ATM-based, Point-of-sale terminals, electronic

instruments, mobile banking and online transactions.







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Emergency Credit Line Guarantee Scheme

The Emergency Credit Line Guarantee Scheme (ECLGS), is an initiative of The Central Government

under the scheme the government provides 100% guarantee coverage to banks and NBFCs to allow

them to provide emergency credit facilities worth Rs 3 lakh crore to qualified borrowers to meet their

working capital requirements.

The ECLG Scheme will provide a pre-approved credit sanction of

• 20% of the borrower’s total outstanding credit of up to Rs 50 crore as at February 20, 2020

• Annual turnover of up to Rs 250 crore in the financial year 2019-20, without any requirement of

providing additional security.

The period of the loan will be four years, three years from the date of disbursement and one year of the

moratorium period. In addition to MSMEs, professionals such as doctors, chartered accountants,

lawyers, among others, will be eligible to take loans for professional purposes.

The GOI extended the Scheme until March 31, 2021, and included 26 sectors such as aviation, power,

construction, roads and real estate, and healthcare sectors as beneficiaries under the Scheme.

Organizations with outstanding dues of Rs 50-200 crore as at February 29, 2020, will be eligible to apply.

The tenor of the loan will be five years including one-year moratorium. The Scheme will not only provide

relief to the Indian economy, it will also help MSMEs in generating employment opportunities, control

liquidity crisis and revive their businesses.







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Long-Term Repo Operations

Long-Term Repo Operations allows banks to borrow one to three-year funds from the central bank at

the repo rate, by providing government securities with similar or higher tenure as security. Targeted

Long-Term Repo Operations (TLTRO), banks can invest in a particular sector through commercial

papers, corporate bonds and non-convertible debentures (NCDs)) to push the credit flow in the

economy.

Long-Term Repo Operations help banks in getting funds for a longer period as compared to the short-

term liquidity provided by the Reserve Bank of India through other instruments such as marginal

standing facility (MSF) and liquidity adjustment facility (LAF).

Key features

• Specified securities which are acquired under the TLTRO scheme have no maturity restriction

on them.

• Until the maturity of TLTRO the banks need to maintain, the number of securities for the amount

received in TLTRO in its HTM book.

• The amount borrowed under TLTROs shall be utilized by the banks, in the fresh acquisition of

securities from the primary/secondary market.

• LTROs provide banks with access to more affordable capital from the RBI. This, in turn, supports

them to lend more and push economic activity.

• Banks can also invest these long-term funds in assets that generate better returns to increase

profitability.

• As banks provide government securities as collateral, the demand for government bonds

increases and helps in lowering yield.







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Foreign Direct Investment and Foreign Portfolio Investment

Capital is an essential element for economic growth, but since most nations cannot meet their complete

capital requirements from domestic sources alone, they turn to foreign investors. Foreign portfolio

investment (FPI) and foreign direct investment (FDI) are two of the most common methods for investors

to invest in any economy.

Foreign Direct Investment (FDI)

Foreign direct investment (FDI) means establishing a direct business interest in a foreign country

through establishing a manufacturing business, buying buildings or building warehouses.

Foreign direct investment is a means of establishing a more substantial, long-term interest in the

economy of a foreign country.

Foreign direct investment is usually done by multinational institutions and companies in other words

FDI means investment by foreign investors directly in the productive assets of another nation.

Foreign Portfolio Investment (FPI)

Foreign portfolio investment (FPI) refers to investing in the financial assets of a foreign country, such

as stocks or bonds. Foreign Portfolio Investment is quick and is of a short-term method of making

money.

Difference between FDI and FPI

Foreign portfolio investments can be easily sold as compared to direct investments. Portfolio

investments can be easily acquired as compared to direct investments as they require less investment

capital and research. The objective of FDI is to increase enterprise profit on the other hand objective of

FPI is to increase capital availability. FDI results in exchanging technology but FPI results in only capital

inflow.







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Descriptive Writing Topics Essay For Mains Exam

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