science reporter magazine upsc

 science reporter magazine upsc

science reporter magazine upsc  Published this articles page no   201 Invention is challenging but innovation is equally o r s o m e t i m e m o r e challenging. The reason is obvious. Normally invention starts with uncertainty and end result could be different from what an inventor had visualised or conceptualized. However this may be not be the same with innovation as it is an act of making changes to the existing product or the process by introducing new ways or ideas. Nonetheless both have one common thing and that is their success or failure depends upon how it affects people at large. Success or failure of an innovation also depends upon use of technology and this can be said more specifically in the context of innovations in the financial sector in India. Starting from Pradhan Mantri Jan Dhan Yojana to Pradhan Mantri MUDRA Yojana or even Goods and Services Tax (GST) all are being implemented with the help of information technology making them emphatic and more importantly cost effective both for the Government as well for the masses. Published this articles page no   Best part is that most of these innovations are complimenting each other and thus providing a bigger basket of schemes for welfare of the common man. Let us discuss some recent innovations in financial and banking sectors which have impacted the economy and benefited the common man Pradhan Mantri Jan Dhan Yojana (PMJDY) Launched on August 28 The author is a Financial Journalist. 2014 and improvised on September 5 2018 the scheme aims to ensure access to various financial services like availability of basic savings bank account (no need to maintain minimum amount in the account) access to need based credit remittances facility insurance and pension to the excluded sections i.e. weaker sections and low income groups. science reporter magazine upsc

 

science reporter magazine upsc