In Today’s News:
- Foundation stone laid by Hon’ble PM as part of GHTC-India initiative.
- RBI’s Digital Payments Index introduced.
1. Foundation stone laid by Hon’ble PM as part of GHTC-India initiative
Hon’ble PM Shri. Narendra Modi laid the foundation stone of six Light House Projects in six cities as part of the GHTC-India initiative on January 1st, 2021.
Prelims GS – Governance
- Global Housing Technology Challenge-India (GHTC-I) intends to get the best globally available innovative construction technologies through a challenging kind of process.
- It aims to demonstrate and deliver ready to live-in houses in minimum time and minimum cost with high-quality construction in a sustainable manner.
- This challenge seeks to promote future potential technologies through Incubation support and accelerator workshops, in order to foster an environment of research and development in the country.
- Ministry of Housing and Urban Affairs(MoHUA) has initiated the Global Housing Technology Challenge- India (GHTCIndia) which aims to identify and mainstream a basket of innovative construction technologies from across the globe for the housing construction sector that is sustainable, eco-friendly, and disaster-resilient.
- As a part of GHTC- India, six Light House Projects (LHP) consisting of about 1,000 houses each with physical & social infrastructure facilities are being constructed at six places across the country namely Indore; Rajkot; Chennai; Ranchi; Agartala, and; Lucknow.
- These projects will showcase the use of the six distinct shortlisted innovative technologies for field-level application, learning, and replication.
- LHPs will demonstrate and deliver ready to live mass housing at an expedited pace as compared to conventional brick and mortar construction and will be more economical, sustainable, of high quality and durability.
- These projects shall serve as Live laboratories for all stakeholders including R & D leading to the successful transfer of technologies from the lab to the field.
Components of GHTC:
There are three components of GHTC. They are:
- Grand Expo and Conference
- Proven Demonstrable Technologies for the Construction of Lighthouse Projects
- Potential Future Technologies for Incubation and Acceleration Support
2. RBI’s Digital Payments Index introduced
The Reserve Bank of India has introduced the Digital Payments Index as announced in the Statement on Developmental and Regulatory Policies.
Prelims GS – Economic Development
Digital Payments Index:
- The Reserve Bank of India has constructed a composite Digital Payments Index (DPI) to capture the extent of digitization of payments across the country.
- The RBI-DPI comprises 5 broad parameters that enable the measurement of deepening and penetration of digital payments in the country over different time periods.
- These parameters are –
- (i) Payment Enablers (weight 25%),
- (ii) Payment Infrastructure – Demand-side factors (10%),
- (iii) Payment Infrastructure – Supply-side factors (15%),
- (iv) Payment Performance (45%) and
- (v) Consumer Centricity (5%).
- The RBI-DPI has been constructed with March 2018 as the base period, i.e. DPI score for March 2018 is set at 100.
- The DPI for March 2019 and March 2020 work out to 153.47 and 207.84 respectively, indicating appreciable growth.
- In the future, RBI-DPI shall be published on RBI’s website on a semi-annual basis from March 2021 onwards with a lag of 4 months.
Click here to view the official press release of the RBI.
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