August 2, 2024

The National Skill Development Corporation (NSDC) is pleased to introduce the Women Entrepreneurship Programme, a significant step toward empowering women entrepreneurs and promoting economic growth. This initiative strives to address the challenges that women experience in entrepreneurship by providing valuable skills, knowledge, and networking opportunities. On July 31, 2024, Shri Atul Kumar Tiwari, the Secretary of the Ministry of Skill Development & Entrepreneurship, announced big steps forward for women’s entrepreneurship. This is mainly through new projects like the Women Entrepreneurship Program, launched by the National Skill Development Corporation (NSDC) in partnership with Britannia Industries. Collaboration with Ministries Shri Tiwari highlighted the importance of working together with other ministries, such as Tribal Affairs and Rural Development, to help women entrepreneurs grow. This collaboration aims to give targeted skill training to Women’s Self-Help Groups, helping them start strong businesses. Women Entrepreneurship Program The Women Entrepreneurship Program focuses on the unique challenges women entrepreneurs face. It offers free self-learning courses in many languages through the Skill India Digital Hub (SIDH). These courses teach important entrepreneurial skills and knowledge. Participants will receive certificates from NSDC, Britannia, and NIESBUD, showing they have gained new skills. The program aims to empower about 2.5 million women, giving them the tools they need for business success. Financial Grants and Competitions The program will also feature a finale where the top 50 business ideas will be showcased. Britannia will give ₹10 lakh each to ten standout contestants, encouraging innovation and excellence. The program has two phases: Phase 1: The first phase offers self-learning courses. Phase 2: The second phase provides support to 10,000 selected candidates, helping them with business model selection, registration, and funding guidance. NSDC will regularly check how well the program is working to ensure the businesses are sustainable in the long run. This initiative aims to increase the visibility and reach of women-led businesses, creating a supportive environment for their growth. Significance of Women Entrepreneurship Economic:  Job creation (women led enterprises could create around 170 million jobs, NITI Aayog), Increase in GDP (50% of women in workforce could increase GDP by 1.5%, World Bank) ,  foster innovative business practices.  Social:  Empowerment (breaking gender norms and stereotypes); Enhanced education, awareness, and networking opportunities;, etc.  Political: Policy advocacy, fostering strong women agency.  Cultural:  Participation in traditional crafts and arts can advance India’s cultural heritage Challenges faced by Women Entrepreneurs in India Gender gap in access to finance, male dominated family structure etc. Social cultural barriers dual burden of balancing work and traditional gender roles.  Others: lack of literacy; safety at workplace, access to advanced technology, etc. FAQs What is the Women Entrepreneurship Program? The Women Entrepreneurship Program is an initiative aimed at empowering women by providing them with the necessary resources, support, and training to start and grow their own businesses. Who can participate in the Women Entrepreneurship Program? The program is designed for women of all ages who have a passion for entrepreneurship and are looking to start or expand their business. It welcomes women from diverse backgrounds and industries.

The Members of Parliament are granted certain privileges individually and collectively so as to perform their duties properly. But if any of the members disregard or misuses any of these privileges or rights, it is considered as a breach of the privilege and is liable for punishment under the Parliamentary laws. This motion is applicable for members of both Lok Sabha and Rajya Sabha and if any member notices another member or members breach it, they can move the privilege motion against the accused members. What is Parliamentary Privilege? The term ‘privilege’ means certain rights and immunities enjoyed by each House of Parliament and its Committees collectively, and by the members of each House individually without which they cannot discharge their functions efficiently and effectively.  The object of parliamentary privilege is to safeguard the freedom, authority and dignity of Parliament.  But they are available to individual members only insofar as they are necessary for the House to perform its functions freely without any let or hindrance.  Privileges of Parliament do not place a member of Parliament on a footing different from that of an ordinary citizen in the matter of the application of laws unless there are good and sufficient reasons in the interest of Parliament itself to do so. Some of the more important privileges of each House of Parliament and of its members and Committees are  Freedom of speech in Parliament,  Immunity to a member from any proceedings in any court in respect of anything said or any vote given by her/him in Parliament or any committee thereof, Immunity to a person from proceedings in any court in respect of the publication by or under the authority of either House of Parliament of any report, paper, votes or proceedings, prohibition on the courts to inquire into proceedings of Parliament and  Freedom from the arrest of members in civil cases during the continuance of the session of the House and forty days before its commencement and forty days after its conclusion. Breach of Privilege Motion A breach of privilege is an infringement of any of the privileges of MPs or Parliament.  Chapter 20 of rule 22 for Lok Sabha and Chapter 16 Rule 187 for the Rajya Sabha have mentioned the Privilege motion.  The scrutiny regarding the breach of this motion in the Lok Sabha is managed by the Speaker and that in the Rajya Sabha is managed by the Chairperson.  Once the Speaker or the Chairperson considers the accusations to be true then the accused is called to explain themselves.  A committee of 15 members is elected by the Speaker in the Lok Sabha and a committee of 10 members is elected by the Chairperson at the Rajya Sabha.  These committees are responsible for managing all the cases and accusations related to the privilege motion and take relevant actions against and breach of the motion. Some Breach of Privileges Examples Writing speeches or articles reflecting on the House, its committees or its members. Comment on the Speaker/Chairman’s character and impartiality in discharging his duty. Publication of false or distorted reports of the proceedings of the House. Publication of expelled proceedings of the House. Premature publication of proceedings, evidence or reports of parliamentary committees. To publish or disclose the proceedings of a secret session of the House. Punishment for Breach of Privilege Admonition or reprimand Suspension from the House Expulsion from the House Role of the Speaker/Rajya Sabha Chairman in case of Privilege of Motion The Speaker of the Lok Sabha or the Chairman of the Rajya Sabha is the first level of authority to decide whether an act amounts to a breach of privilege or not. The Speaker or the Chairman has two options to decide whether an act is a breach of privilege or not. Either he or she can take this decision on their own, or they can refer the matter to the Privilege Committee of the Parliament. If the Speaker or Chairman agrees that an act amounts to the ‘Breach of Privilege’ and accepts the Privilege Motion, then the person against whom the motion is presented is allowed to make a short statement explaining his stand. Articles and Laws which Provide Parliamentary Privilege Article 105 of the Indian Constitution provides for two kinds of privileges. First, the freedom of speech in the Parliament, and second, the right to publish its proceedings to the Parliament. The rights or immunities are provided to the Members of the Parliament and the Committees of the Parliament. Article 194 of the Indian Constitution provides for the privileges and immunities of state legislatures, their members and committees. Additionally, Article 361 of the Indian Constitution provides for the privileges and immunities provided to the President of India. Also, the Code of Civil Procedure, 1908 provides certain privileges to the legislators apart from those provided under Article 108 of the Indian Constitution. The Code of Civil Procedure, 1908, provides freedom from arrest and detention of members under civil cases during the ongoing meeting of the House of Parliament or a Parliamentary Committee. FAQs Is privilege motion mentioned in the Constitution? Article 105 of the Constitution deals with the powers, privileges and immunities of either House of the Indian Parliament and its Members and committees. Chapter 20 of rule 22 for Lok Sabha and Chapter 16 Rule 187 for the Rajya Sabha have mentioned the Privilege motion. What is a no-confidence motion? If any member of the House feels that the government in power does not have a majority, then he/she can move a no-confidence motion. If the motion is accepted, then the party in power has to prove its majority in the House.

The Reserve Bank of India, the central bank of the country, recently asked all the banks to use additional factor authentication (AFA) for the auto-debit transactions on both debit and credit cards of their customers. This is to protect the interest of the consumers from various fraudulent card-related transactions.  (October 1, 2021), banks will not approve any standing instruction (for recurring payments) given at merchant websites or mobile applications without the approval of their customers. This means the standing instruction or the auto-debit facility enabled across various platforms including insurance (premium) payment, your subscription to platforms such as Netflix and Hotstar, and other billers will be disabled or declined. This is provided if the card-issuing bank and merchants do not meet the new conditions prescribed by RBI.  Additional Factor Authentication (AFA) RBI released a draft Framework on Alternative Authentication Mechanisms for Digital Payment Transactions. Framework will be applicable to all Payment System Providers and Payment System Participants, as defined in the Payment and Settlement Systems (PSS) Act, 2007. About AFA Framework All digital payment transactions shall be authenticated with an additional factor(s) of authentication (AFA), unless exempted. All digital payment transactions, other than card present transactions, shall ensure that one of the factors of authentication is dynamically created, i.e., the factor is generated after initiation of payment, is specific to the transaction and cannot be reused. RBI’s new rules for two-factor authentication of digital payments According to an RBI press release issued on July 31, 2024, “ the Reserve Bank of India has prioritised security of digital payments, in particular the requirement of Additional Factor of Authentication (AFA) for making payments. No specific factor was mandated for authentication, but the digital payments ecosystem has primarily adopted SMS-based OTP as AFA. While OTP is working satisfactorily, technological advancements have made available alternative authentication mechanisms.” As per the draft, “Factor of Authentication: Any credential input by the customer which is verified for the purpose of confirming the originator of a payment instruction.The factors of authentication are broadly categorised as below:   Something the user knows (such as password, passphrase, PIN) Something the user has (such as card hardware or software token) Something the user is (such as fingerprint or any other form of biometrics).” Unless otherwise specified in this framework, all digital payment transactions will be verified through the use of an additional factor of authentication (AFA). When determining the proper AFA for a transaction, issuers such as banks, non banks can use a risk-base .. What is the new rule? The RBI has issued a framework for processing recurring online transactions. Under the new rules, all these recurring transactions mandatorily require additional authentication, if the value is more than Rs 5,000. It means that you as a customer must approve your auto-debit transaction via OTP. This is applicable for all cards both debit and credit cards with standing instructions of monthly/quarterly/half-yearly or yearly.  FAQs What is Additional Factor Authentication (AFA)? Additional Factor Authentication (AFA) is a security process that requires users to provide more than one form of verification to access an account or system. This enhances security by ensuring that only authorized users can gain access. How does AFA work? AFA works by combining two or more different types of authentication factors, such as something you know (password), something you have (security token or smartphone), and something you are (fingerprint or facial recognition).

The recently released Global Economic Prospects Report by the World Bank, India is predicted to remain the fastest-growing major economy globally, with a projected GDP growth rate of 6.6% for FY25. About the Report Anticipates global trade growth in 2024 to be only half of the average in the decade preceding the pandemic. Projects a slowdown in global growth for the third consecutive year, dropping from 2.6% in 2023 to 2.4% in 2024. Emphasizes the need for increased investments to address climate change and achieve global development goals by 2030. Developing countries, to meet climate and development targets, need to increase investments by approximately $2.4 trillion annually. The report underscores challenges in sustaining economic growth, particularly in the aftermath of the pandemic, and emphasizes the importance of substantial investments for a sustainable and resilient global economy. Important highlights of the published reports Better Outlook Than Last Year: Due to the resilience of the US economy, there is less chance of a worldwide recession this year, which has improved the state of the world economy overall. But increasing global tensions could create fresh near-term threats for the world economy. Global Growth: From 2.6% in 2023 to 2.4% in 2024, it is predicted that the world’s growth would slow for the third year in a row.The growth rate of developing economies is expected to be merely 3.9%, which is more than 1% less than the average for the preceding ten years. Lower than anticipated, low-income countries are likely to increase by 5.5%. Medium-Term Prospects for Developing Economies are deteriorating: Although the state of the world economy is stronger now than it was a year ago, many emerging economies’ medium-term prospects have gotten worse. Slowing growth, weak global trade, and tight financial conditions are some of the contributing factors. Slowest Half-Decade of Gross Domestic Product (GDP) Growth in 30 Years: With a growth rate of 2.4% in 2024, the world economy is expected to develop at its weakest pace in three decades. Problems with International Trade and Borrowing Costs: It is anticipated that trade will rise globally by just half as much in 2024 as it did in the ten years before the pandemic. It is anticipated that borrowing would continue to be expensive for developing economies, particularly those with poor credit ratings. Low Growth in the Near future and High Debt: Low growth in the near future is predicted, especially in developing nations, which will result in high debt levels and restricted access to food. That would hinder in the advancement of numerous international goals. Some of the suggestions given by the Report are In order to prevent a missed opportunity in the present decade, immediate action is required to tighten fiscal policy frameworks and expedite investment. The report recommends that developing nations invest ‘formidable’ amounts, almost USD 2.4 trillion annually, to combat climate change and accomplish other important global development goals by 2030. The implementation of comprehensive policy packages, encompassing enhancements to fiscal and monetary frameworks, growth of cross-border trade and financial flows, amelioration of the investment climate, and reinforcement of institutional quality, is imperative for the developing economies. FAQs What is the Global Economic Prospects Report? The Global Economic Prospects Report is a publication by the World Bank that provides an analysis of the global economy, including economic trends, projections, and potential risks. How often is the Global Economic Prospects Report published? The report is published twice a year, typically in January and June.