Audio Recordings of Vajiram and Ravi: Latest Batch

Audio Recordings of Vajiram and Ravi: Latest Batch

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The RBI has formed a 10-member task force, headed by M Deosthalee, to suggest a roadmap for building a comprehensive Public Credit Registry (PCR) to improve market efficiency. What is a PCR and how will it impact credit culture in India?

The RBI has formed a 10-member task force, headed by M Deosthalee, to suggest a roadmap for building a comprehensive Public Credit Registry (PCR) to improve market efficiency. What is a PCR and how will it impact credit culture in India?
  • Introduce with what a PCR is and its objective
  • Make a note on the current scenario of credit assessment
  • Enumerate the benefits of PCR
  • Conclusion appropriately
Model Answer :
RBI has set up the Deosthalee panel to suggest roadmap for the creation of a Public Credit Registry (PCR) operated by the regulator. The PCR will be an extensive database of credit information for India that is accessible to all stakeholders. The idea is to capture all relevant information on the borrower and entire set of borrowing contracts and outcomes in one large database.
Generally, a PCR is managed by a public authority and reporting of loan details to the PCR by lenders is mandated by law. Private credit bureaus and public credit registry (PCR), generally operated by a central bank or a supervisory authority, work in tandem in most of the countries. However, in India, some private credit information companies provide credit scores and allied reports, and they are regulated by RBI under Credit Information Companies (Regulation) Act, 2005 (CICRA 2005).
Benefits Of PCR
  • A PCR can potentially help banks in credit assessment and pricing of credit.
  • It is required to improve the credit culture in our country. It has been demonstrated in the ‘Doing Business 2017’ report that credit information systems impart transparency in the credit market, following which access to credit improves and delinquencies decrease.
  • A central repository which captures the credit data will help in preventing overpledging of collateral by a borrower.
  • PCR can help in early intervention and effective restructuring of stressed bank credits.
  • It will also benefit start-ups, new entrepreneurs, and small MSMEs who are presently disadvantaged as they lack many of the desired qualifications (that big businesses have) for credit. Transparency of credit information would serve as a “reputational collateral” for such borrowers. This would not only help promote financial inclusion, but also reward the good borrowers thereby imparting credit discipline.
  • The PCR can also help RBI in understanding whether transmission of monetary policy is working, and if not remove the bottlenecks.
The RBI has made a strong case for setting up a public credit registry in India to address the twin balance sheet problem of the banking sector and the corporate sector. This is a step in right direction by the RBI in tackling the growing menace of bad loans and asset quality of the banks. The database would help enhancing credit market efficiency, boosting financial inclusion, improving ease of doing business and controlling delinquencies.

Subjects : Current Affairs

Mrunal Lectures 1-17 Current Batch

Mrunal Videos Link:

All 1-24 Mrunal Videos at a single Point.

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What were the factors responsible for American revolution? Examine the effects of the revolution.

What were the factors responsible for American revolution? Examine the effects of the revolution.


  • Briefly introduce American Revolution
  • Explain the various factors responsible for American Revolution
  • Mention the effects/outcomes of the American Revolution
  • Conclude appropriately
Model Answer :
The American Revolution or the U.S. war of Independence was a revolt waged by the American colonies to get independence from Great Britain during 1775. For more than a decade before the outbreak of American Revolution, tension had been building between colonists and the British authorities due to various reasons such as:
  1. Navigation Law of 1651 – It was compulsory for American ships to visit British ports before leaving for other parts of the world.
  2. American colonies were not allowed to establish manufacturing units, especially heavy industries.
  3. After the end of Seven Years War in 1763 (British and Allies vs French and Allies), Britain faced severe economic crisis. In this situation British Parliament’s policy to impose various taxes on American colonies like stamp duty, sugar duty, etc. In response, Massachusetts Assembly demanded representation in British parliament by giving the slogan ‘No Taxation Without Representation’.
  4. Samuel Adams organised mass protest in Boston in response to the Townshed Plan(It increased import duty on tea). Britain took military action against them and it led to Boston Massacre. In response to which Samuel Adams along with his supporters threw away the tea containers into Atlantic ocean. This was Boston Tea Party of 1773.
These all reasons culminated into the war of independence from 1776 in which various important battles were fought like Concord, Lexington, etc.  Later France also supported American fighters by sending its army under Lafayette.
Outcomes of the Revolution :
  1. By the Treaty of Paris, 1783, Britain left all its claims on American colonies. It led to political and economic upheaval in Britain.
  2. The 13 colonies became independent and determined to be loosely connected under the 1781 Articles of Confederation.
After the American Revolution, America emerged as a political and economic superpower. The revolution also inspired revolutionaries and freedom fighters across the world, most notably inspiring the French Revolution.

Subjects : History and Culture

Poor farmers in drought affected regions are in a desperate situation and are taking extreme steps such as suicides. What are the causes for droughts and how can this problem be mitigated?

Poor farmers in drought affected regions are in a desperate situation and are taking extreme steps such as suicides. What are the causes for droughts and how can this problem be mitigated?
  • Brief Introduction to droughts in India
  • Mention causes for droughts, and briefly mention problems that arise due to them
  • Discuss how to mitigate drought problem.
  • Conclude appropriately
Model Answer :
Drought results from long period of dry weather and insufficient precipitation, which causes acute dry conditions. In India around 68 percent of the country is prone to drought in varying degrees. Since agriculture is the major source of livelihood in India, successive droughts have led to crop failures creating acute rural distress leading to farmer suicides.
Factors responsible for droughts in India:
Natural factors:
  • The South-west monsoon accounts for 70 to 80 per cent of the annual rainfall over major parts of India. Failure of monsoon is a major reason for droughts in India.
  • Skewed distribution of monsoon rains across different regions of India make some regions chronically prone to droughts.
  • Depletion of surface and sub-surface water resources, especially in areas of low yearly rainfall.
  • Climatological factors like El Nino impact the onset of southwest monsoon and moisture carrying capacity.
Anthropogenic factors:
  • Inappropriate agricultural activities leading to excessive water use cause depletion in water levels.
  • Activities such as deforestation and encroachment of wetlands lessen the ability of land to hold water.
  • Anthropogeic activities leading to global warming, result in fluctuations in phenomenon like monsoons.
Droughts have severe economic, social and environmental consequences. Water bodies gets dried up, soil quality and crop yields gets reduced, farmer distress increases culminating into hunger, malnutrition, deaths and farmer suicides.
As a result, there has been a shift in approach to drought from relief centric approach to holistic and integrated management with emphasis on prevention, mitigation and preparedness.
Droughts can be mitigated by:
  • Systems: Drought monitoring, advanced warning systems and Drought Management Plans at various levels.
  • Integrated Watershed Management: Focus should be on conserving and developing degraded natural resources including water through moisture conservation, rain water harvesting etc. especially in drought-prone areas and deserts.
  • Irrigation: Irrigation facilities reduce dependency on monsoon, and techniques like drip irrigation reduce usage of water. Ex- SAUNI project.
  • Agriculture: Proper agricultural practices (right crops, crop rotation etc.) based on agro-climatic conditions
  • Capacity Development: Human resource development, training, education (including public awareness campaigns) and capacity building
  • Crop Insurance
Climate change will potentially increasing the frequency of events like droughts, which can lead crop losses, distress and widespread unemployment. While drought mitigation measures can significantly improve the coping capacity and dampen the impact of drought, if drought conditions worsen, many agencies of the state and centre will have to work in concert to prevent acute rural distress.

Subjects : Disaster Management

Who are the Dhangars of Maharashtra, and why do they want ST status?

Headline : Who are the Dhangars of Maharashtra, and why do they want ST status?

Details :

Why in news?

  • Recently, Maharashtra has announced extension of all social welfare schemes available to Scheduled Tribes to the Dhangar community of the state.


Who are the Dhangars?

  • The Dhangars are shepherd community, living mostly in Western Maharashtra and Marathwada.
  • They constitute about 9% of Maharashtra’s population.
  • They are currently on Maharashtra’s list of Vimukta Jati and Nomadic Tribes (VJNT), but have been demanding Scheduled Tribe (ST) status for the past several decades.


Why are they demanding ST status?

  • As claimed by Dhangar community, their community is the same as “Dhangad” which has been given Scheduled Tribe status elsewhere in the country.
  • Because of some typological error their community name has been recorded as “Dhangar” in Maharashtra, instead of Dhangads, denying them the benefits available to the ST “Dhangads”.



  • Dhangars community has been demanding Scheduled Tribe status in the country from decades.
  • In 2015, the Maharashtra government asked the Tata Institute of Social Sciences (TISS) to establish whether the Dhangars of Maharashtra were the same as the Dhangads elsewhere in the country, and also to create a safeguard against any legal challenge in moving the Dhangars from the VJNT list to the ST list.
  • In November, 2018, the government received the TISS report, and started taking action on it.
  • Recently, the Maharashtra government handed over the Tata Institute of Social Sciences’ report on Dhangar reservation to state Advocate General (AG) for advice and further action.
  • However, till the AG’s recommendation comes in, all schemes of the Tribal Welfare Department will be made applicable to Dhangars with separate financial provisions.



  • All other ST communities are strongly opposed to any attempt at dilution of their quota by the inclusion of a large community like the Dhangars.
  • They demand overall increase in ST quota for the inclusion of the Dhangar community.
Section : Social Issues

Prelims Program: Organization of the Petroleum Exporting Countries (OPEC)

Headline : Prelims Program: Organization of the Petroleum Exporting Countries (OPEC)

Details :

About Organization of the Petroleum Exporting Countries (OPEC)

  • OPEC is a permanent intergovernmental organization of 14 oil-exporting nations.
  • It coordinates and unifies the petroleum policies of its Member Countries.
  • The Organization of the Petroleum Exporting Countries (OPEC) was founded in Baghdad, Iraq, in 1960 by five countries (Founder Members of the Organization):
    • Islamic Republic of Iran
    • Iraq
    • Kuwait
    • Saudi Arabia
    • Venezuela
  • The current OPEC members are the following:Algeria, Angola, Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, the Republic of the Congo, Saudi Arabia (the de facto leader), United Arab Emirates, and
  • The OPEC headquarters are located in Vienna, Austria.

OPEC: Global Scenario

  • The formation of OPEC was the first step towards national sovereignty over natural resources.
  • Over a period of time, the decisions of the organisation have played a prominent role in the global oil market.
  • The influence of OPEC on international trade has been challenged by:
    • The expansion of non-OPEC energy sources
    • The climate change solutions
    • Shale gas resources by US
    • By the recurring temptation for individual OPEC countries to exceed production targets
  • The mission of the Organization of the Petroleum Exporting Countries (OPEC) is to:
    • Coordinate and unify the petroleum policies of its Member Countries
    • Ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers
    • Steady income to producers
    • Fair return on capital for those investing in the petroleum industry

Note: OPEC has been in news recently and the related topics have been covered on portal.

Section : Miscellaneous