Key Fact Statement (KFS) | Current Affairs | Vision IAS
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Posted 09 Feb 2024

Updated 16 Mar 2024

9 min read

Key Fact Statement (KFS)

  • Reserve Bank of India has mandated that all regulated entities provide a KFS to retail and MSME borrowers.

 

  • About KFS
    • It is a document that clearly explains lending terms and has key information regarding a loan agreement in a simple and easy-to-understand format.
    • It enhances transparency in lending and enables customers to make informed decisions.
  • Tags :
  • MSMEs
  • Reserve Bank of India
  • KeyFactStatement

Initiatives under PMFBY

  • Union Government launched 3 new initiatives under Pradhan Mantri Fasal Bima Yojana (PMFBY).
    • PMFBY is comprehensive crop insurance from pre-sowing to post-harvest period.
  • Krishi Rakshak Portal and Helpline (KRPH) 14447: To provide multilingual support, transparent communication and real-time grievance resolution.
  • Learning Management System (LMS) to train stakeholders in efficient crop insurance and agricultural credit.
  • SARTHI Portal: To extend coverage to health, life, home, shop, agriculture implements, motor, and parametric products.
    • SARTHI is a digital insurance platform launched in collaboration with UNDP India.
  • Tags :
  • PMFBY
  • SARTHI Portal

Kaladan Multi-Modal Transit Transport (KMTT) Project

  • Myanmar rebel’s capture of Paletwa town adversely impacts the KMTT project.

 

  • About KMTT Project
    • Aims to provide connectivity between India and Myanmar from Ports on India’s eastern seaport to Myanmar’s Sittwe Port, and further to North East India.
    • 4 stages – 
      • Kolkata to Sittwe port via the Bay of Bengal.
      • Sittwe to Paletwa inland (River Kaladan).
      • Paletwa to India-Myanmar border post in Mizoram.
      • Border to Lawngtlai in Mizoram (NH 54).
    • Significance: Improved access to Southeast Asia, improved connectivity to north-eastern states, etc.
  • Tags :
  • Kaladan Multi-Modal
  • Myanmar
  • KMTT Project

Conservation Reserve

  • Telangana’s State Board for Wildlife (SBWL) approved the corridor area between Tadoba-Andhari Tiger Reserve and Kawal Tiger Reserve as a conservation reserve.
    • SBWL is established under the Wildlife (Protection) Amendment (WPA) Act, 2002, headed by Chief Minister or Administrator in case of UT. 

 

  • About Conservation Reserve:
    • A protected area under the ‘Wildlife (Protection) Act (WPA), 1972’ (added through the WPA Act of 2002). 
    • Acts as buffer zone to or connectors and migration corridors between national parks, wildlife sanctuaries and protected areas. 
    • Declared by the State Government, after consulting with the central government and the local communities. 
    • It is administered with the help of the Conservation Reserve Management Committee.
  • Tags :
  • Conservation Reserve