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PRELIMS FACTS 19-06-2018

FACT # 1

Social Enterprise Development Programme (SEDP) 

Why in news? SAARC Development Fund (SDF) is going to launch social enterprise development programme (SEDP) as part of its social window.

Social enterprise development programme (SEDP)

  • Thimpu-based SAARC Development Fund will soon be launching a social enterprise development programme (SEDP).
  • SEDP will fund 80 entities annually across the 8-member states including India.
  • SDF was established by the Heads of the eight SAARC member states in April 2010 and its Governing Council comprises finance ministers of these eight countries.
  • SDF will launch the SEDP as part of its social window.
  • The programme will be implemented in all the SAARC member states with the objective of identifying and building social enterprises by using a mix of grants and concessional returnable capital.
  • The programme intends to fund around 80 enterprises across the 8 SAARC member states annually.
  • The main objective of SEDP is to build and scale social enterprises by using a mix of grants and concessional returnable capital.
  • The grant will be used primarily for capacity building of the enterprises and the communities they impact.
  • SEDP aims to surface several such successful Social Enterprises in all the SAARC countries.
  • These enterprises will be helped by prominent supporters of social enterprises and inclusive businesses and will raise the awareness of governments, donors, business community and international development organizations about the largely untapped potential of Social Enterprises to provide effective and efficient services to the BoP.
  • SEDP also aims to enable the Social enterprises operating in more than one SAARC country and/or looking to replicate business models (from SAARC country to another) and /or engaged in intra-religion trade activities.

FACT # 2

Banks Board Bureau


Why in news? The Banks Board Bureau has recommended the promotion of 22 PSB GMs to executive directors.

  • Banks Board Bureau (BBB) is an autonomous body of the Government of India tasked to:
    • improve the governance of Public Sector Banks
    • recommend selection of chiefs of government owned banks and financial institutions
    • to help banks in developing strategies and capital raising plans
  • It was set up in February 2016 based on the recommendations of the RBI-appointed Committee.
  • The BBB works as step towards governance reforms in Public Sector Banks(PSBs) as recommended by J. Nayak Committee.
  • Its broad agenda is to improve governance at state-owned lenders.
  • Bhanu Pratap Sharmais the new Chairman of the Mumbai based Bureau.
  • It is housed in RBI’s Central Office in Mumbai.
  • The BBB was the part of Indradhanush Plan of government.

FACT # 3

Aerobic Rice And Kisankraft

Why in news? KisanKraft is planning to take ‘aerobic rice’ technology to 5 states for the Kharif season.



  • KisanKraft is a designer, importer and distributor of affordable farming equipment suited to the needs of small and marginal farmers.
  • It has signed a 10 year licensing agreement with the National Research DevelopmentCorporation (NRDC) and the National Bio-diversity Authority (NBA) for the marketing and sale of an aerobic rice variety developed by University of Agricultural Sciences, Bengaluru. 
  • KisanKraft intends to take the ‘aerobic rice’technology to five states during this kharif season and conduct demonstrations to reach out to more farmers.

Aerobic Rice:

  • Aerobic rice is direct-seeded into the field, eliminating the cost of raising nursery, transplantation and its related impact on labour health.
  • Direct seeding also reduces ‘seed rate’ dramatically.
  • Certain pests and diseases don’t breed in aerobic conditions, therefore, use of chemicals is also reduced.
  • The aerobic rice technology is a solution for water-stressed paddy farmers.
  • It would help in restoring soil conditions while contributing to national food security.
  • Since there is no puddling and no standing water, hence costs associated with the use of water and pumping cost is also minimized.
  • As against up to 5,000 litresof water required to produce one kg of wetland rice, the aerobic rice requires only up to 2,500
  • This would save more than 60 per cent in water and 55 per cent in labour.
  • Except the Himalayas, the coastal areas and the hilly areas (with excess water), the rest of the country can grow aerobic rice.
  • Black cotton soil and lowlands in submerged water conditions are unsuitable.

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