BANKING IN INDIA

Overview

• Organized banking in India originated in the late 18^th century
• The State Bank of India, headquartered in Mumbai, is the largest bank in India
  
• Currently, India has 88 Scheduled Banks – 27 public sector banks, 31 private banks and 38 foreign banks
• The public sector banks hold over 75% of banking assets in the country, followed by private banks (18.2%) and foreign banks (6.5%)
• Central banking in India is the responsibility of the Reserve Bank of India
• Banking in India is the responsibility of the Department of Financial Services, Ministry of Finance
  
• Currently there are 170 scheduled commercial banks, which includes 91 regional rural banks, 19 nationalised banks, 8 banks in the SBI group and the IDBI
  
• There are 4 non-scheduled commercial banks in the country
  

History of banking in India

• The oldest banks in India were the General Bank of India and the Bank of Hindustan, both founded in 1786. However both banks are now defunct
• The oldest existing bank in India is the State Bank of India. The origins of the SBI go back to the Bank of Calcutta (founded 1806, renamed Bank of Bengal in 1809)
• The Bank of Madras was established in 1843 and the Bank of Bombay in 1868
• The Bank of Bengal, Bank of Bombay and Bank of Madras merged to form the Imperial Bank of India in 1921. The Imperial Bank of India was renamed the State Bank of India in 1955. Although a normal commercial bank, the Imperial Bank of India also functioned as a central governmental until 1935
  
• The Reserve Bank of India was established in 1935
  
• The oldest joint stock bank is the Allahabad Bank, established in 1865.
  
• The first entirely Indian joint stock bank was the Oudh Commercial Bank (Faizabad, 1881). However, it failed in 1958. The next oldest is the Punjab National Bank (Lahore, 1895)
  
• The Dakshina Kannada and Udipi districts of Karnataka (called South Canara), is known as the Cradle of Indian Banking
  

Nationalisation of banks

• The Government of India nationalised 14 of the largest banks in 1969
  
• This achieved by an ordinance to the effect in July 1969. This was formalized by the Banking Companies (Acquisition and Transfer of Undertaking) Bill 1969
• The banks that were nationalized in 1969 were: Allahabad Bank, Bank of Baroda, Bank of India, Bank of Maharastra, Canara Bank, Central Bank of India, Dena Bank, Indian Bank, Indian Overseas Bank, Punjab National Bank, Syndicate Bank, UCO Bank, Union Bank of India and United Bank of India
• In 1980, six more banks were nationalized. The banks that were nationalized in 1980 were: Andhra Bank, Corporation Bank, Oriental Bank of Commerce, Punjab and Sind Bank, New Bank of India and Vijaya Bank
• In 1993, the New Bank of India was merged with Punjab National Bank. There are 19 nationalized banks in operation today
  
• Following this, the GoI controlled about 91% of the banking business in India

RESERVE BANK OF INDIA

Overview

• The Reserve Bank of India is the central bank of India
  
• It was established in 1935 and nationalised in 1949. Its headquarters was initially Calcutta, but moved to Bombay in 1937. It is currently headquartered in Mumbai.
  
• The first Governor of the RBI was Sir Osborne Smith. The current Governor of the RBI is Dr. Duvvuri Subbarao
  
• The RBI functions under the provisions of the Reserve Bank of India Act 1934
  

Objectives

• Maintain price stability
• Ensure adequate flow of credit
  
• Protect depositor’s interests
• Provide cost-effective banking services to the public
• Facilitate external trade and payment
• Promote development of foreign exchange market in India
  
• Provide supplies of currency notes and coins in the country
  

Functions

• Formulates, implements and monitors monetary policies
• Regulates operations of banking and financial services sector in the country
• Manages the Foreign Exchange Management Act 1999
  
• Issues, exchanges and destroys currency notes and coins
• Perform promotional functions to support national objectives
• Acts as banker to banks by maintaining accounts of all scheduled banks
• Acts as banker to the Central and state governments

List of RBI Governors

S. No.	Governor	Tenure	Notes
1	Sir Osborne Smith	1935-1937	First Governor of the RBI Did not sign any bank notes
2	Sir James Taylor	1937-1943	Governor during WWII Started the practice of signing bank notes
3	Sir C D Deshmukh	1943-1949	First Indian Governor of RBI Oversaw Independence & Partition Represented India at the Bretton Woods Conference 1944 Served as Minister of Finance 1950-1956
4	Sir Benegal Rama Rao	1949-1957	Longest serving Governor Was Indian Ambassador to USA prior to RBI Witnessed commencement of Five Year Plans, and transformation of Imperial Bank of India to SBI
5	K G Ambegaonkar	Jan 1957 – Feb 1957	Did not sign any bank notes
6	H V R Iyengar	1957-1962	Witnessed introduction of decimal coinage Variable cash reserve ration (CRR) introduced
7	P C Bhattacharya	1962-1967
8	L K Jha	1967-1970	Witnessed nationalization of banks (1969) Appointed as Ambassador to US in 1970
9	B N Adarkar	May 1970 – June 1970	Served as India’s Executive Director at the IMF
10	S Jagannathan	1970-1975	Witnessed oil shock, expansion of banking services, shift to floating rates Relinquished office to serve as Executive Director at IMF
11	N C Sen Gupta	May 1975 – Aug 1975
12	K R Puri	1975-1977
13	M Narasimhan	May 1977 – Nov 1977	Only Governor to be appointed from the Reserve Bank cadre Chairperson of Committee on Financial System (1991) and Committee on Banking Sector Reforms (1998) Served as Executive Director for India at the World Bank and the IMF
14	Dr. I G Patel	1977-1982	Served as Secretary at the United Nations Development Programme (UNDP) Witnessed demonetisation of high denomination bank notes and “gold auctions” Witnessed nationalization of six banks (1980) Secured IMF’s Extended Fund Facility (1981). This was the largest arrangement of the IMF at the time
15	Dr. Manmohan Singh	1982-1985	Witnessed comprehensive legal reforms in banking sector
16	A Ghosh	Jan 1985 – Feb 1985
17	R N Malhotra	1985-1990	Served as Executive Director of IMF prior to RBI Made efforts to develop money markets
18	S Venkitaraman	1990-1992	Managed balance of payments crisis Adopted IMF’s stabilisation programme Supervised devaluation of the Rupee Witnessed launch of economic reforms
19	Dr. C Rangarajan	1992-1997	Ushered in unprecedented central bank activism Introduced comprehensive measures to strengthen and improve efficiency of banking sector Establishment of unified exchange rate Cap on automatic finance by the Bank to the Government
20	Dr. Bimal Jalan	1997-2003	Represented India on the Executive Boards of the IMF and World Bank prior to RBI
21	Dr Y V Reddy	2003-2008	Executive Director to IMF prior to RBI
22	Dr. D Subbarao	2008-Present	Prior to RBI, he has been Secretary to the PM’s Economic Advisory Council (2005-2007) Lead economist in the World Bank (1999-2004) Finance Secretary to the Government of Andhra Pradesh (1993-1998) Joint Secretary, Dept. of Economic Affairs (1988-1993)

STATE BANK OF INDIA

• The State Bank of India is derived from the Imperial Bank of India (1921), which was nationalised in 1955
  
• The State Bank of India is the oldest bank in India. It traces its ancestry to the Bank of Calcutta, founded in 1806.
• It is headquartered in Mumbai
• The State Bank of India is also the largest bank in India. It has a market share of about 20% in deposits and advances
  
• The State Bank Group consists of the SBI and its subsidiary banks viz. State Bank of Indore, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore
  
• The SBI is one of the Big Four Banks in India, along with ICICI Bank, Axis Bank and HDFC Bank
  
• The SBI was ranked as the 29^th most reputable company in the world by Forbes in 2009
  

CATEGORIES OF BANKS IN INDIA

Structure of banking in India. Number of banks given in brackets

• Commercial Banks
  
  • Commercial banks are those that cater to the regular banking and financial needs of the public
    
  • Commercial banks include public sector banks and private sector banks. Public sector banks include the State Bank Group and other nationalised banks, while private sector banks include Indian banks and foreign banks
    
• Cooperative Banks
  
  • Cooperative banking is retail and commercial banking organised on a cooperative basis. Cooperative banks include credit unions, savings and loans associations and building societies and cooperatives
  • Cooperative banks operate on the principles of cooperation – mutual help, democratic decision making and open membership
  • They are governed by controls of the RBI as well as state governments. Cooperative banks in general operate under the Cooperative Credit Societies Act 1904, but large Urban Cooperative Banks operate under the Banking Regulation Act 1949
    
  • Cooperative banks in India are the primary financiers of agricultural activities, small scale industries and self-employed workers
    
  • Cooperative banks in India were first established in the late 19^th century, following the success of such banks in Britain and Germany
    
  • The Anyonya Cooperative Bank Ltd. (ABCL) was the first cooperative bank in India. It was established Vithal Laxman (aka Bhausaheb Kavthekar) in 1889 under the name Anyonya Sahayakari Mandali Cooperative Bank Ltd. The bank closed functioning in March 2008 following an order by the RBI. Re-opening is under consideration
    
• Regional Rural Banks
  
  • Regional Rural Banks (RRBs) were first established in 1975
    
  • Initially five RRBs were established at Moradabad (UP), Gorapkhpur (UP), Bhiwani (Haryana), Jaipur (Rajasthan), Malda (WB). Currently there are 91 RRBs
    
  • RRBs exist in all states except Goa and Sikkim
    
  • The share of RRBs in agricultural credit is around 5%
    
• Scheduled Banks
  
  • Scheduled Banks are those banks that have been included in Second Schedule of the RBI Act 1934
    
  • Scheduled Banks must fulfil two conditions
    
    • The paid up capital and collected funds of the bank must not be less than Rs 5 lakhs
    • Any activity of the bank should not adversely affect the interest of deposition
  • Scheduled Banks enjoy the following benefits
    • They are eligible for obtaining loans on Bank Rate from the RBI
    • They acquire membership of the clearing house
  • Scheduled Banks include commercial banks, cooperative banks and regional rural banks
  • There are around 302 Scheduled Banks in operation
• Non-Scheduled Banks
  
  • Non-Scheduled Banks are those that are not included in the list of Scheduled Banks
  • They have to follow the Cash Reserve Ratio (CRR) condition. However, they are not compelled to deposit these funds with the RBI
  • They can avail loans from the RBI only under emergencies, and not for daily activities
    
  • There are only 4 Non-Scheduled Banks in operation

GOVERNMENT ENTITIES IN BANKING

1. Small Industries Development Bank of India (SIDBI)
   
   1. Established in 1990, headquarters Lucknow
   2. The main objective of the SIDBI is to aid the growth and development of micro, small and medium scale industries in India
   3. It provides direct credit to micro, small and medium enterprises, supports microfinance institutions and refinancing to state level finance bodies
2. Industrial Development Bank of India (IDBI)
   
   1. Established in 1964, headquarters Mumbai
   2. The IDBI is the tenth largest development bank in the world. It is one of India’s largest public sector bank
   3. Its main objective is to provide credit and other banking facilities to industries in India
   4. However, in 2004 the IDBI was re-designated as a commercial bank, following the Industrial Development Bank (Transfer of Undertaking and Repeal) Act 2003, and renamed IDBI Ltd
   5. Following this, the commercial banking division, IDBI Bank was merged into IDBI
3. Industrial Finance Corporation of India (IFCI)
   
   1. The IFCI is the first development finance institution in the country to cater to the needs of Indian industry
   2. Established 1948, headquarters New Delhi
   3. The IFCI was established to provide long term low interest credit to corporate borrowers
   4. In 1993, the IFCI was re-registered as a commercial company under the Indian Companies Act 1956, and renamed IFCI Ltd
4. National Bank for Agricultural and Rural Development (NABARD)
   
   1. Partly owned by the RBI
      
   2. Established 1982, headquarters Mumbai
   3. NABARD serves as the apex development bank in India for economic activities in rural areas
      
   4. The main objective of NABARD is to facilitate credit flow for agriculture and small scale industries
      
   5. NABARD provides refinance to State Cooperative Agriculture and Rural Development Banks (SCARDBs), State Cooperative Banks (SCBs), Regional Rural Banks (RRBs), Commercial Banks and other financial institutions approved by the RBI
      
   6. NABARD coordinates the rural financing activities of all institutions engaged in developmental work
      
   7. NABARD has 28 regional offices (state capitals), one Sub Office (in Port Blair) and one Special Cell (in Srinagar)
      
   8. NABARD is famous for its Self Help Group (SHG) Bank Linkage Programme, which serves as an important tool for microfinance
      
5. National Housing Bank (NHB)
   
   1. Wholly owned subsidiary of the RBI
   2. Established in 1987, headquarters New Delhi
   3. Established mainly to provide long term finance to individual households
6. Export-Import Bank of India (EXIM Bank)
   
   1. Established 1981, headquarters Mumbai
   2. The main objective of the EXIM Bank is to provide financial assistance to exporters and importers with a view to promoting the country’s international trade
   3. It acts as the apex financial institution for financing foreign trade in India
7. Bharatiya Reserve Bank Note Mudran Private Ltd (BRBNMPL)
   
   1. Wholly owned subsidiary of the RBI
   2. Established in 1995, headquarters Bangalore
   3. Main function is to augment the product of bank notes to meet demand
   4. The company manages two presses: Mysore and Salboni (West Bengal)
8. Deposit Insurance and Credit Guarantee Corporation (DICGC)
   
   1. Wholly owned subsidiary of the RBI
   2. Established in 1962, headquarters Mumbai
   3. India was one of the first countries to provide deposit insurance
   4. Main objective is to provide insurance to depositors against collapse and bankruptcy of banks
   5. Provides deposit insurance coverage up to Rs 100,000

INSURANCE IN INDIA

Overview

• The first insurance company in India was the Oriental Life Insurance Company, founded in Calcutta 1818. However, it is now defunct
• The first Indian insurance company was the Bombay Mutual Life Assurance Society, founded 1870
• The oldest existing insurance company is the National Insurance Company, founded 1906
  
• Insurance was nationalised in 1956 and then opened up to private sector in 1999.
• Currently the government allows 26% FDI in the insurance sector
• The largest life insurance company in India is the Life Insurance Corporation
• Insurance falls under the purview of the Department of Financial Services, Ministry of Finance
  

Nationalisation of insurance

• Life insurance in India was nationalised by the Life Insurance Corporation Act 1956
• All 245 life-insurance companies in India at the time were merged to form the Life Insurance Corporation (LIC).
• The General Insurance Business Act 1972 nationalised general insurance companies
• The existing 100 general insurance companies were amalgamated into the General Insurance Corporation of India (GIC).

GOVERNMENT BODIES IN INSURANCE

All government bodies in insurance function under the Ministry of Finance unless otherwise noted
Life Insurance Corporation (LIC)

• Established 1956, headquarters Mumbai
• The LIC is the largest life insurance company in India and also the nation’s largest investor
  
• It funds close to 25% of the government’s expenses
• The LIC owns the following subsidiaries
  • Life Insurance Corporation of India International: provides USD denominated policies to NRIs
  • LIC Nepal
  • LIC Lanka
  • LIC Housing Finance

General Insurance Corporation (GIC)

• Established 1972, headquarters Mumbai
• The GIC is a holding company for four subsidiary companies
  
  • Oriental Insurance Company Ltd (New Delhi)
  • New India Assurance Company Ltd (Mumbai)
  • National Insurance Corporation Ltd (Kolkata)
  • United India Insurance Company Ltd (Chennai)
• The GIC is the sole re-insurance company in India
  
• The GIC covers insurance for the entire spectrum of the economy from shoes to aircraft, from agricultural wells to oil wells, from chemical manufactures to satellite launches etc

Insurance Regulatory and Development Authority (IRDA)

• Established 2000, headquarters Hyderabad
• The IRDA was set up to protect the interests of policy holders, and to regulate the growth of the insurance industry
• Some of the functions of the Authority include
  • Regulate investment of funds by insurance companies
  • Regulate maintenance of margin of solvency
  • Adjudicate disputes between insurers and intermediaries

Agriculture Insurance Company (AIC)

• Established 2003, headquarters New Delhi
• The AIC is promoted by the GIC and NABARD
• The AIC is under administrative control of Ministry of Finance, but under operative control of Ministry of Agriculture
• The AIC offers area based and weather crop insurance schemes to farmers
  
• It is one of the largest agriculture insurance companies in the world

POLICIES AND PROGRAMMES

Social Security Scheme

• A Social Security Fund (SSF) was set up in 1988-89 for providing social security through group insurance schemes to the weaker sections of society
• The SSF is administered by the LIC
  
• The SSF provides up to Rs 5000 on death from natural causes and Rs 25,000 upon death/disability due to accident

Janashree Bima Yojana (JBY)

• The Janashree Bima Yojana was launched in 2000
• The JBY is a group insurance scheme. The minimum membership of the group should be 25 persons
• The JBY is administered by the LIC
  
• The JBY provides for insurance protection to rural and urban poor. The scheme covers BPL people and above poverty line people who belong to certain identified occupational groups
• The scheme provides for cover of Rs 20,000 on natural death. The scheme also provides pension of Rs 200

Aam Aadmi Bima Yojana (AABY)

• Launched in 2007
• Provides insurance to the head of the family of rural landless households
  
• Covers natural death and accidental death/disability
• The scheme also provides additional benefit of scholarships for max two children between 9^th and 12^th standards
• Administered by the LIC
  

Universal Health Insurance Scheme (UHIS)

• The UHIS is meant to improve access of health care to poor families
• Scheme provides for reimbursement of medical expenses, death and compensation due to loss of earning capacity
• The UHIS targets only BPL families
  

National Agriculture Insurance Scheme (NAIS)

• Launched in 1999
• Protects farmers against losses due to natural calamities such as flood, drought, pestilence etc
  
• Scheme is implemented by the Agriculture Insurance Company (AIC)
  
• The Scheme is available to all farmers irrespective of the size of their land holdings
  
• The Scheme covers all food crops and oil seeds. It also covers some commercial and horticultural crops
• The scheme has until now covered more than 1.3 million farmers and 211 million hectares of land

Pilot Weather Based Crop Insurance Scheme (WBCIS)

• Launched in 2007, on a pilot basis
• The WBCIS aims to cover farmers against anticipated crop failure due to adverse weather conditions
  
• The scheme is based on the fact that weather parameters can affect crop yield even when the farmer has taken all care to ensure a good harvest
  
• The payouts are based on historical data that determine weather thresholds/triggers beyond which crop losses are expected
  
• The WBCIS is implemented by the AIC
  
• The scheme is currently being implemented on 30 major crops including horticultural crops
  
• Currently the scheme covers more than 110,000 farmers and 1.4 million hectares of land

South Indian States way ahead in achieving MDGs

South India is way ahead in achieving the millennium development goal (MDG) targets for maternal mortality ratio, infant mortality rate and the total fertility rate.

The latest figures of the Sample Registration System (SRS), released by the office of the Registrar General of India suggest that the undivided Bihar, Madhya Pradesh, Uttar Pradesh, and Assam still lagged behind in improving their respective MMR, IMR and TFR figures despite being high focus States where the bulk of Centre's attention and funds are directed.

As in every other sector, Kerala tops the list of performance by having achieved the MDG well ahead of the schedule. The MMR in Kerala is 81 as against the stipulated 109, the IMR is 12 as against the required 28 and the TFR at 1.7 as set by the United Nations. The under five mortality rate is already14, though India had to achieve a figure of 42 by 2015.

Closely following Kerala is Tamil Nadu that has managed to bring down its MMR to 97, IMR to 28, TFR to 1.7 and U5MR to 33.

Andhra Pradesh is closing in with its MMR at 134, IMR at 49, TFR at 1.9 and U5MR at 52. Karnataka's MMRis at 178 and IMR at49 and it has achieved a TFR at 2 and U5MR is 50. Maharashtra and West Bengal have also shown remarkable improvements.

The worst performers have been the undivided States of U.P, Madhya Pradesh and Bihar — clubbed as the empowered action group (EAG) and Assam. The MMR is highest among these States at 308. The maximum IMR (67) and U5MR (89) has been reported from Madhya Pradesh while Bihar has the highest TFR of 3.9, followed closely by Uttar Pradesh, Chhattisgarh, and Jharkhand — all with a TFR of over 3.

Impressive drop in maternal, infant mortality rates

India has impressively brought down its maternal and infant mortality rates, indicating that it was close to achieving the millennium development goals (MDGs) set by the United Nations though the total fertility rate (TFR) has remained stationary after showing a decline during the past few years.

The maternal mortality ratio (MMR) – number of women dying due to maternal causes per 1, 00, 000 live births – has come down to 212 (2007-09) from 254 in 2004-06. The MDG target for India is to bring down maternal deaths to 109 by 2015. Similarly, the infant mortality rate (IMR) – the number of infant deaths per 1,000 live births – has registered a 3 point decline at 50 from 53 in 2008, thought every 6th death in the country pertains to an infant. Sadly enough, the mortality rate of girls is higher than boys indicating a “worrisome trend” for the government.

The under 5 mortality rate (U5MR), denoting the number of children (0-4 years) who die before reaching an age of five years, has declined by 5 points over 2008 to touch 64 in 2009 as against 69 in 2008. However, the average number of children born to a woman during her entire reproductive period or the total fertility rate (TFR) remained stationary at 2.6 during 2008 to 2009.

Releasing a latest statistics of the Sample Registration System (SRS), the Registrar General of India (RGI) and Census Commissioner C. Chandramouli said the progress of India on this front is vital for overall reduction in the world as every fifth woman dying due to reproductive causes is an Indian. The 17 per cent decline in the MMR has been most significant in Empowered Action group of States and Assam from 375 to 308, indicating a fall of 18 per cent. Among the Southern States, the decline has been from 149 to 127 (15 per cent) and in the other States from 174 to 149 (14 per cent). “It is worth noting that the number of States that have achieved the MDG target in 2007-09 has gone up to 3 as compared to 1 in 2004-06. Kerala, with a figure at 81, was the sole State earlier which has now been joined by Tamil Nadu at 97 and Maharashtra at 104. Andhra Pradesh, West Bengal, Gujarat and Haryana are in closer proximity to achieving the target,'' Mr Chandramouli said.

The maximum infant mortality rate has been reported from Madhya Pradesh (67) against the national average of 50, while Kerala, again, is among the earliest to achieve the MDG target of 28, well ahead of the set date. Kerala's IMR is 12 with Tamil Nadu just at 28. While Delhi is at 33, Maharashtra at 31 and West Bengal at 33 are within the reaching distance.

The TFR for the country remained constant at 2.6 during 2008-09 with Bihar reporting the highest TFR at 3.9 while Kerala and Tamil Nadu continuedits outstanding performance with the lowest rate at 1.7. The TFR level of 2.1 has been attained by nine States and Union Territories with Andhra Pradesh at 1.9, Karnataka (2.0), Kerala (1.7), Maharashtra (1.9), Punjab (1.9), Tamil Nadu (1.7) and West Bengal (1.9). At present, on average, a rural woman, (having a TFR of 2.9) at the national level, would have about one child more than an urban one(having a TFR of 2.0).

A uniform decline of about 5 points is seen in male and female under 5 maternal rate with the maximum reported from Madhya Pradesh (89) and the minimum in Kerala (14). As of now Kerala, Tamil Nadu (33), Maharashtra (36), Delhi (37) and West Bengal (40) have achieved the MDG target of 42 by 2015.

Foreign Tourist Arrivals and Foreign Exchange Earnings During June 2011

Foreign Tourist Arrivals (FTAs) during the Month of June 2011 was 3.96 lakh as compared to FTAs of 3.70 lakh during the month of June 2010 and 3.52 lakh in June 2009. There has been a growth of 7.2 % in June 2011 over June 2010 as compared to a growth of 4.9 % registered in June 2010 over June 2009. The 7.2% growth rate in FTAs in June, 2011 was higher than 7 % growth rate observed in May, 2011. FTAs during the period January-June 2011 were 29.19 lakh with a growth of 10.9 %, as compared to the FTAs of 26.32 lakh with a growth of 8.9 % during January-June 2010 over the corresponding period of 2009

Foreign Exchange Earnings (FEE) during the month of June 2011 were Rs. 5440 crore as compared to Rs. 4751 crore in June 2010 and Rs. 3801 crore in June 2009. The growth rate in FEE in Rupee terms in June 2011 over June 2010 was 14.5 % as compared to 25 % in June 2010 over June 2009. FEE from tourism in rupee terms during January-June 2011 were Rs. 35163 crore with a growth of 12.1 %, as compared to the FEE of Rs. 31373 crore with a growth of 27.1 % during January-June 2010 over the corresponding period of 2009. FEE in US$ terms during the month of June 2011 were US$ 1213 million as compared to FEE of US$ 1020 million during the month of June 2010 and US$ 796 million in June 2009. The growth rate in FEE in US$ terms in June 2011 over June 2010 was 18.9 % as compared to the growth of 28.1 % in June 2010 over June 2009. FEE from tourism in terms of US$ during January-June 2011 were US$ 7811 million with a growth of 14.2 %, as compared to US$ 6842 million with a growth of 36.6 % during January-June 2010 over the corresponding period of 2009.

Key Indicators of Household Consumer Expenditure in India, 2009-10

The National Sample Survey Office (NSSO), Ministry of Statistics and Programme Implementation has released the key indicators of household consumer expenditure in India,  generated from the data collected in its 66^th round survey during July 2009 - June 2010. NSS surveys on consumer expenditure are conducted quinquennially starting from 27^th round (October 1972 – September 1973) and the last quinquennial survey was conducted in NSS 61^st round (July 2004- June 2005) for which, the results have already been released. The NSS 66^th round was the eighth quinquennial round on the subject.

The NSS consumer expenditure survey aims at generating estimates of household monthly per capita expenditure (MPCE) and its distribution separately for the rural and urban sectors of the country, for States and Union Territories, and for different socio-economic groups. These indicators are amongst the most important measures of the level of living of the respective domains of the population and are crucial input for estimation of prevalence of poverty by the Planning Commission. The detailed results of quinquennial survey on consumer expenditure are usually brought out by the NSSO through a number of reports. In order to make available the salient results of the survey, well in advance of the release of its reports, for use in planning, policy formulation, decision support and as input for further statistical exercises, the NSSO has released the key indicators.

 

The key indicators are based on the Central Sample consisting of 7,524 villages in rural areas and 5,284 urban blocks spread over all States and Union Territories except in (i) interior villages of Nagaland situated beyond five kilometres of a bus route (ii) villages in Andaman and Nicobar Islands which remain inaccessible throughout the year and (iii) Leh, Kargil and Poonch  districts of Jammu and Kashmir.

In the 66^th round consumer expenditure survey, the data on household consumption was collected with three reference periods of preceding 7 days, 30 days and 365 days for specified set of items of the consumption basket. Two types of schedules namely Schedule 1.0 Type 1 and Schedule 1.0 Type 2 were canvassed during the survey. The reference periods for different Item Groups divided in three Categories in both the schedules of  the survey are summarized below:

Reference periods used for collection of consumption data in Schedule 1.0 Type 1 and Type 2
Cate-gory	Item groups	Reference period for
		Schedule Type 1	Schedule Type 2
I	Clothing, bedding, footwear, education, medical (institutional), durable goods	‘Last 30 days’ and ‘Last 365 days’	Last 365 days
II	Edible oil; egg, fish & meat; vegetables, fruits, spices, beverages and processed foods; pan, tobacco & intoxicants	Last 30 days	Last 7 days
III	All other food, fuel and light, miscellaneous goods and services including non-institutional medical; rents and taxes	Last 30 days	Last 30 days

  From each sample household where Schedule Type 1 was canvassed, two measures of MPCE emerged. This was because for each such household, there were two sets of data for Category I items – “last 30 days” data and “last 365 days” data – unlike items of Categories II and III, for which only “last 30 days” was available. Thus there were two ways of measuring household MPCE: one using “last 30 days” for all items, and the other using “last 365 days” data for Category I items and “last 30 days” for the rest. The first measure of MPCE is called MPCE_URP (Uniform Reference Period MPCE) and the second, MPCE_MRP (Mixed Reference Period MPCE). From data on MPCE_URP and MPCE_MRP (collected from households where Schedule Type 1 was canvassed), two alternative estimates of the distribution of MPCE and average MPCE can be built up.

From each sample household where Schedule Type 2 was canvassed, a single measure of MPCE emerged, as, for each item of consumption, data for only one reference period had been collected. Since the reference period system used for Schedule Type 2 was only a slight modification of the Mixed Reference Period (differing only in the reference period used for Category II items), this measure of MPCE is called the MPCE_MMRP (Modified Mixed Reference Period MPCE).

The values of different types of average MPCE for NSS 61^st and 66^th rounds at all-India level are given below:

Average MPCE (Rs.)
NSS Round	MPCEURP		MPCEMRP		MPCEMMRP
	Rural	Urban	Rural	Urban	Rural	Urban
61st	558.78	1052.36	579.17	1104.60	-	-
66th	927.70	1785.81	953.05	1856.01	1053.04	1984.46

Note: Type 2 Schedule was not canvassed in the 61^st Round.

Besides the average MPCE, the survey results also provide distribution of population over decile classes of MPCE. Thus the first decile class comprises the bottom 10 percent of population in terms of MPCE and the top (10^th) decile class comprises the top 10 percent of population. These decile classes for rural and urban domains are separately arrived at for MPCE_URP, MPCE_MRP and MPCE_MMRP. Further, in addition to all-India decile classes, similar State-specific decile classes are also derived and State-wise results are given for these classes in the detailed tables.

             The results released are mainly based on MPCE_MMRP. However, relevant indicators based on MPCE_URP and MPCE_MRP are also given for comparability.  The estimates of per capita monthly expenditure on food, non-food and total expenditure are provided separately for rural and urban sectors at the State level as well as for all-India across decile classes of MPCE. However, break-up of average MPCE by broad item group of food and non-food items, and item-wise estimates of quantity and value of per capita consumption are given at the all-India level.

Some salient findings of the survey relating to monthly per capita expenditure (MPCE) based on modified mixed reference period (MMRP)  are as follows:

·        In terms of MMRP estimates, the average MPCE in 2009-10 was estimated as Rs.1053.64 in rural India and Rs.1984.46 in urban India. Thus the per capita expenditure level of the urban population was on the average about 88% higher than that of the rural population.

·        The poorest 10% of India’s rural population had an average MPCE of Rs.453. The poorest 10% of the urban population had an average MPCE of Rs.599. The top 10% of the rural population, ranked by MPCE, had an average MPCE of Rs.2517 – about 5.6 times that of the bottom 10%.  The top 10% of the urban population had an average MPCE of Rs.5863 – about 9.8 times that of the bottom 10%. Average MPCE_MMRP across decile classes of MPCE_MMRP, at  all-India for rural and urban areas during 2009-10 is given in Annexure-I.

·         In rural India, half of the population belonged to households with MPCE below Rs.895 (median value) and nearly 40% of the rural population of India had MPCE below Rs.800. About 60% of rural population  had MPCE below Rs.1000. About 10% had MPCE above Rs.1650.

·        Correspondingly, in urban areas of India, half the population was living with MPCE below Rs.1500, about 70% of population had MPCE above Rs.1100, nearly 30% had MPCE above Rs.2100, and 20% had MPCE above Rs.2600.

INDIAN ECONOMY MCQs

1. Consider the following statements about the 13th finance commission :
     1. It is constituted to give recommendations on specified aspects of centre-state fiscal relations during 2010-2015.
    2. It will give recommendation for the cordial relation between centre & the states
Which of the statements given above is / are correct ?
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2

2. Which among the following is the first commercial bank of limited liability managed by Indians ?
(A) Punjab National Bank
(B) Oudh Commercial Bank
(C) Imperial Bank of India
(D) Bank of Baroda

3. What is International Development Association ?
(A) A voluntary association of developing countries
(B) A federation of International lending agencies
(C) An affiliate of World Bank
(D) An organization of donor countries of European Union

4. Which of the following is not one of the core areas identified under the Bharat Nirman Programme ?
(A) Irrigation
(B) Rural electrification
(C) Drinking water supply
(D) Rural housing
(E) Computer education in schools
5. The Small Industries Development Bank of India (SIDBI) provides refinance facilities under ARS. What is the full form of ARS ?
(A) Automatic Refinance Scheme
(B) Allocation and Refinance Solutions
(C) Automatic Refinance Solution
(D) Allocation and Refinance Scheme
(E) None of these

6. Which one of the following was the chairman of the committee on pricing and taxation of petroleum products ?
(A) Raja J. Chelliah
(B) C. Rangarajan
(C) Y. V. Reddy
(D) Abid Hussain

7. What was the limit of ARS fixed initially by the Small Industries Bank of India (SIDBI) ?
(A) Rs. 10 lakh
(B) Rs. 20 lakh
(C) Rs. 25 lakh
(D) Rs. 35 lakh
(E) Rs. 45 lakh

8. The Small Industries Development Bank of India (SIDBI) has been operating under SWS. What is the full form of SWS ?
(A) Small Welfare Scheme
(B) Single Window Scheme
(C) Small Window Service
(D) Single Window Service
(E) None of these

9. When was the Small Industries Development Bank of India set up ?
(A) 1988
(B) 1990
(C) 1992
(D) 1998
(E) None of these

10. The Small Industries Development Bank of India was established by the Government of India with an authorized capital of—
(A) Rs. 100 crore
(B) Rs. 150 crore
(C) Rs. 200 crore
(D) Rs. 250 crore
(E) Rs. 300 crore

11. The Small Industries Development Bank of India was established as a wholly owned subsidiary of—
(A) ECGC
(B) RBI
(C) NABARD
(D) IDBI

12. One of the objectives of the 11th five year plan is to reduce the poverty ratio by how much percentage points by the year 2012 ?
(A) 2%
(B) 2·5%
(C) 3·5%
(D) 10%
(E) 5·5%

13. Which of the following is the target fixed by the 11th five year plan pertaining to increase in the literacy by the year 2012 ? The level should be increased to—
(A) 50%
(B) 60%
(C) 70%
(D) 85%
(E) 90%

14. The Small Industries Development Bank of India (SIDBI) has taken over the responsibility of administering which of the following funds ?
    (1) Small Industries Development Fund
    (2) National Equity Fund
    (3) National Development Fund
Codes :
(A) Only (1)
(B) Only (2)
(C) Both (1) and (2)
(D) Only (3)
(E) All (1), (2) and (3)

15. Decline in the price of goods and services is technically known as—
(A) Deflation
(B) Inflation
(C) Negative growth
(D) Discount yield
(E) None of these

16. The Union Minister of Commerce and Industry in his announcement of Foreign Trade Policy for 2007-08 set a target to take the Foreign Trade to the level of US$—
(A) 100 billion
(B) 160 billion
(C) 180 billion
(D) 200 billion
(E) 250 billion

17. Match list-I with list-II and select the correct answer using the code given below the lists :
List-I (Company)
(a) Chevron
(b) AT &T
(c) AMD
(d) Enercon GmbH
List-II (Major Area/product)
1. Wind energy
2. Oil
3. Telephone internet
4. Micro processor
Codes :
(a) (b) (c) (d)
(A) 2 1 4 3
(B) 4 3 2 1
(C) 2 3 4 1
(D) 4 1 2 3

18. Level of inflation has been a cause of concern for India in the recent past. Which of the following is/are not important contributory factor(s) in rise of the level of inflation ?
    (1) High rate of taxation.
    (2) Hike in oil prices in international market.
    (3) Policy to announce support prices of major cereals and agro products.
Codes :
(A) Only (1)
(B) Only (2)
(C) Both (1) and (2)
(D) Only (3)
(E) All (1), (2) and (3)

19. Which of the following is/are the component(s) of Gross Domestic Capital Formation (GDCF) ?
    (1) Gross Domestic Savings
    (2) Net Capital Inflow
    (3) Direct Foreign Investment
Codes :
(A) Only (1)
(B) Only (2)
(C) Only (3)
(D) Both (1) and (3)
(E) Both (1) and (2)

20. Small Scale Industry like handicraft and cottage industries account for nearly what per cent of the countrys exports ?
(A) 15%
(B) 20%
(C) 30%
(D) 35%
(E) 50%

21. Normally two types of factors are responsible for industrial sickness extrogenous and endogenous. Which of the following is not and endogenous factor of industrial sickness ?
(A) Shortage of power
(B) Mismanagement
(C) Diversion of funds
(D) Excessive overheads
(E) Overestimation of demand

22. While preparing estimates of savings it is customary to divide the economy in to three sectors. Which of the following is/are considered part(s) of these sectors ?
    (1) The household sector
    (2) Corporate sector
    (3) Government sector
Codes :
(A) Only (1)
(B) Only (2)
(C) Only (3)
(D) Both (1) and (2)
(E) All (1), (2) and (3)

23. Which of the following is an employment generating scheme ?
(A) Ganga Kalyan Yojana
(B) IRDA
(C) Swarnjayanti Shahri Rozgar Yojana
(D) Mid Day Meal Scheme
(E) All of these

24. Which of the following is the ceiling enforced by the European commission on the budget deficit in terms of the percentage of the GDP, on its member countries ?
(A) 1%
(B) 2%
(C) 3%
(D) 5%
(E) None of these

25. VAT is—
(A) Value Added Tax
(B) Value Added Temple
(C) Value Assets Total
(D) None of these

26. Euro is a—
(A) Currency
(B) City
(C) Group
(D) River

27. Govt. of India recently decided to import wheat at a lower rate of custom duty. The effective rate of the duty would be—
(A) 15%
(B) 12%
(C) 10%
(D) 5%
(E) None of these

28. As per the reports published recently in the Newspapers, banks surpassed the target set for farm credit in 2005-2006. How much more credit was given to this sector in terms of percentage ?
(A) 15%
(B) 20%
(C) 26%
(D) 33%
(E) 43%

29. Match list-I with list-II and select the correct answer using the code given below the lists :
List-I (Person)
(a) Mukesh Ambani
(b) Sanjeev Batra
(c) Radhey Shyam Sharma
(d) T. Shankar Lingam
List-II (Company)
1. ONGC
2. NTPC
3. Reliance Industries Ltd.
4. MMTC
Codes :
(a) (b) (c) (d)
(A) 2 4 1 3
(B) 3 1 4 2
(C) 2 1 4 3
(D) 3 4 1 2

30. As per the reports published in the Newspapers the National Housing Bank (NHB) is planing to launch a reverse mortgage scheme specially to help which of the following sections of society ?
(A) People in rural India
(B) Senior citizens
(C) People living in Govt. accommodations
(D) Women who are sole bread winners
(E) None of these

31. Which one of the following is the correct sequence in the decreasing order of contribution of different sectors to the Gross Domestic Product of India ?
(A) Services—Industry—Agriculture
(B) Services—Agriculture—Industry
(C) Industry—Services—Agriculture
(D) Industry—Agriculture—Services

32. Govt. of India recently introduced some measures/incentives to improve tourism in India. Which of the following is one of these measures ?
(A) Issuance of electronic visa
(B) Free stay for three days in Govt. hotels in four metros for business travellers and frequent flyers
(C) Highly subsidized air travel on metro routes for frequent flyers
(D) Free trip to Agra, Delhi and Jaipur to those coming on educational/study tours
(E) None of these

33. Which of the following agencies recently laid down guidelines for foreign companies who wish to raise money from the Indian capital markets ?
(A) RBI
(B) IRDA
(C) Registrar of Companies
(D) SEBI
(E) None of these

34. Consider the following statements—
    1. The repo rate is the rate at which other banks borrow from the Reserve Bank of India.
    2. A value of 1 for Gini co-efficient in country implies that there is perfectly equal income for everyone in its population.
Which of the statements given above is/are correct ?
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2

35. SEBI has decided to give an exemption to some companies from the requirement of the minimum 25 per cent public share holding companies exempted from such requirement should fulfill which of the following norms ?
    1. They should have market capitalization of Rs. 1,000 crore.
    2. They should have 20 million shares listed.
    3. They should have a turnover of Rs. 400 crore per annum.
Codes :
(A) Only 1
(B) Only 2
(C) Only 3
(D) Both 1 and 3
(E) Both 1 and 2

36. Which of the following organizations/agencies has agreed to set up an institute in India to train manpower in commodities ?
(A) World Bank
(B) Asian Development Bank
(C) International Monetary Fund
(D) New York Stock Exchange
(E) None of these

37. More and more banks in India these days are setting up their ATMs and discourage people to visit their branches for transaction which of the following is/are the limitations of the ATMs which force people to go to branch for transactions ?
    1. Lack of human interface.
    2. Communication gap.
    3. Limited cash dispensing ability.
Codes :
(A) Only 1
(B) Only 2
(C) Only 3
(D) Both 1 and 2
(E) 1, 2 and 3 all

38. Tarapore committee was associated with which one of the following ?
(A) Special economic zones
(B) Full capital account convertibility
(C) Foreign exchange reserves
(D) Effect of oil prices on the Indian economy

39. Who among the following served as the chief economist of the International monetary fund ?
(A) Ashok Lahiri
(B) Sumantra Ghoshal
(C) Saumitra Chaudhri
(D) Raghuram Rajan

40. The government of India recently cleared Rs. 1,00,000 crore of investment in Special Economic Zones (SEZs) the investment will be helpful in many ways. Which of the following is/are among such benefits ?
    1. About 40,000 hectares of the land will be converted into SEZs.
    2. About 5,00,000 people will get various types of jobs in those units.
    3. Exports of agro products would get an enormous boost as all such SEZ units are to be established for agro exports only.
Codes :
(A) Both 1 and 2
(B) Only 1
(C) Only 2
(D) Only 3
(E) 1, 2 and 3 all

Answers
1. (A) 2. (B) 3. (C) 4. (E) 5. (A) 6. (B) 7. (A) 8. (D) 9. (B) 10. (D)
11. (D) 12. (D) 13. (D) 14. (C) 15. (A) 16. (B) 17. (C) 18. (B) 19. (E) 20. (B)
21. (A) 22. (E) 23. (C) 24. (C) 25. (A) 26. (A) 27. (D) 28. (E) 29. (D) 30. (B)
31. (A) 32. (A) 33. (D) 34. (C) 35. (B) 36. (D) 37. (C) 38. (B) 39. (D) 40. (C)

Abbreviations

A
ABNF: Augmented Backus-Naur Formalism
ACA: Additional Central Assistance
ACE:ASCII compatible encoding
ADFE: Adaptive Decision Feedback Equalization
AI: Air Interface
AICTE: All India Coucil for Technical Education
APCERT: Asia Pacific CERT
APCICT: Asia Pacific Centre for ICT
API: Application Programming Interface
APNIC: Asia Pacific Network Information Centre
APWG: Anti-Phishing Working Group
ASEAN: Association of Southeast Asian Nations
ASIC: Application Specific Integrated Circuit
ASN: Autonomous System Number
ASTeC: Automation Systems Technology Centre
AS &FA: Additional Secretary & Financial Adviser
ASR: Automatic Speech Recognition
ATCS: Area Tariff Control System
B
BAC: Bacterial Artificial Chromosome
BDB: Biometric Data Block
BESU: Bengal Engineering and Science University
BGP Border Gateway Protocol
BIAB: Bioinformatics & Applied Biotechnology
BIPK: Basic Information Processing Kit
BHQ: Block Head Quarter
BPEL4WS: Business ProcessExecution Language for Web Services
BPO: Business Process Outsourcing
BPL: Broadband on power lines
BRAF: Bio-informatics Resource and Application facility
BTP: Biotechnology Park
C
CARE: Centre for Advanced Computing Research and Education
CAT: Cyber Appellate Tribunal
CATR: Compact Antenna Test Range
CBEFF: Common Biometric Exchange Formats Framework
CCA: Controller of Certifying Authorities
C-DAC: Centre for Development of Advanced Computing
CFR: Centre for Reliability
CC&BT: Convergence Communications & Broadband Technologies
CCP: Commonwealth Connects Programme
CCSM: Coupled Climate System Model
CDMA: Code Division Multiple Access
CEERI : Central Electronics Engineering Research Institute
CEG: Centre for e-Governance
CBDT: Central Board of Direct Taxes
CEWiT: Centre of Excellence in Wireless Technology
CGCRI: Central Glass and Ceramic Research Institute
C-GRex: Chaos Game Representation explorer
CIMFR: Central Institute of Mining & Fuel Research
CIS: Commonwealth of Independent States
C-MET: Centre for Materials for Electronics Technology
CMRI: Central Mining Research Institute
CMS: Content Management System
CPeMT: Central Project e-Mission Team
CPMT: Central Project Monitoring Team
CPS: Certification Practice Statement
CRL: Certificate Revocation List
CSC: Common Services Center
CSIRO: Commonwealth Scientific and Industrial Organization
CSP: Content Service provider
CSR: Certificate Signing Request
CTT: Central Technical Team
CUG: Closed User Group
CIC: Community Information Centres
CVO: Chief Vigilance Officer
D
DANTE: Delivery of Advanced Network Technology to Europe Limited
DANN: Distributed Artificial Neural Network
DCO: Data Centre Operator
DEA: Department of Economic Affairs
DEPB: Duty Entitlement Pass Book
DIP: Database of interacting proteins
DOEACC: Department of Electronics Accredited Computer Course
DoS: Denial-of-service
DGF: Development Gateway Foundation
DHQ: District Head Quarter
DIT: Department of Information Technology
DNS: Domain Name System
DPR: Detailed Project Report
DSC: Digital Signature Certificate
DRP: Dispute Resolution Policy
DTA: Domestic Traffic Area
E
EA: Enterprise Architecture
e-AGRIEN : Electronics for Agriculture & Environment
EBR's: Extra-Budgetary Resources
EC: Empowered Committee
EDA: Electronic Design Automation
EHTP: Electronics Hardware Technology Park
EMD : Earnest Money Deposit
EMS: Enterprise Management System
EOU: Export Oriented Unit
EPGC: Export Promotion Capital Goods
EPID : Electronic Portal Imaging Device
ERDA: Electrical Research and Development Association
eSAFE: e-Governance Security Assurance Framework
ESC: Electronics and Computer Software Export Promotion Council
ERNET: Education & Research in Computer Networking
ERTL: Electronics Regional Test Laboratory
ETDC: Electronics Test and Development Centre
EU : European Union
F
FBG : Fiber-Bragg-Grating Sensors
FCS: Fluorescence Correlation Spectrometers
FDI: Foreign Direct Investment
FIPB: Foreign Investment Promotion Board
FIRST: Forum of Incident Response and Security Teams
F/OSS: Free/Open Source Software
FMS: Facility Management Service
FRS: Functional Requirement Specification
G
G2B: Government-to-Business
G2C: Government-to-Citizen
G2E: Government-to-Employees
GAC: Governmental Advisory Committee
GAID: Global Alliance for ICT and Development
GCC: General Conditions of Contract
GIGW : Guidelines for Indian Government Websites
GNU : GNU Compiler Collection
GIA : Grant-in-Aid
GIST: Graphics and Intelligence based Script Technology
GNCTD: Government of National Capital Territory of Delhi
GSP: Generalized System of Preferences
H
HLD: High Level Design
HTTP: Hypertext Transfer Protocol
I
IA: Implementing Agency
IANA: The Internet Assigned Numbers Authority
IASST: Institute of Advanced study in Science & Technology
ICANN: Internet Corporation for Assigned Names and Numbers
ICERT: Indian Computer Emergency Response Team
ICR: Intelligent Character Recognition
ICT: Information and Communication Technologies
ICTACT: ICT Academy of Tamil Nadu
IDN: Internationalized Domain Names
IEC: Information, Education and Communication
IEP: Instruction Enhancement Programme
IFA: Information For All
IGF: Internet Governance Forum
IIIT: International Institute of Information Technology
IISc: Indian Institute of Science
ILTP: Integrated Long Term Programme
IMSC : Inter Ministerial Standing Committee
INDRP: .IN Dispute Resolution Policy
INUP: Indian Nanoelectronics Users Programme
IP: Internet Protocol
IPR: Intellectual Prperty Rights
ISEA Project: INFORMATION SECURITY EDUCATION AND AWARENESS PROJECT
ISMS : Information Security Management System
IST: Information Society Technologies
ISTDC/WGs: Information Security Technology Devlopment Council/Working Groups
ITIL: Information Technology Infrastructure Library
ITS: Intelligent Transport Systems
ITSM: Information Technology Services Management
ISCII: Indian Standard Code for Information Interchange
ITIR: Information Technology Investment Regions
J
JWG: Joint Working Group
K
KDC: Knowledge Data Centre
KPO: Knowledge Process Outsourcing
L
LAN: Local Area Network
LDAB: Layout Design Appellate Board
LIR: Local Internet Registry
LINAC: Linear Accelerator
LNT: Liquid Nitrogen Temperature
LTCC: Low Temperature Cofired Ceramic
M
MAI: Market Access Initiative
MB-OFDM: Multi-Band Orthogonal Frequency Division Multiplexing
MCA: Ministry of Corporate Affairs
MCCDMA: Multi Carrier Code Division Multiple Access
MDA: Market Development Assistant
MEMS: Micro-Electro-Mechanical Systems
MGO: Magnesium Oxide coatings
MGS: Multiplier Grant Scheme
MLC: Multileaf Collimator
MMP: Mission Mode Project
MOSFET: Metal- Oxide- Semiconductor- Field -Effect-Transistor
MoU: Memorandum of Understanding
MSP: Managed Service Provider
N
NaMPET: National Mission of Power Electronics Technology
NASSCOM: National Association of Software and Service Companies
NBRI: National Botanical Research Institute
NCBI: National Center for Biotechnology Information
NCMRWF : National Centre for Medium Range Weather Forecasting Centre
NE: North East
NeGA: National e-Governance Agency
NeGP: National e-Governance Plan
NFE: Net Foreign Exchange
NISG: National Institute for Smart Government
NIR: National Internet Registry
NIC : National Informatics Centre
NICSI : National Informatics Centre Services Incorporation
NIIST: National Institute for Interdisciplinary Science and Technology
NIT: National Institute of Technology
NIXI: National Internet Exchange of India
NKN: National Knowledge Network
NMCC: National Manufacturing Competitiveness Council
NPR: National Population Register
NRCFOSS: National Resource Centre for Free & Open Source Software
NSD: National Services Directory
O
OTC: Open Technology Centre
OCB: Overseas Corporate Bodies
OCR: Optical Character Recognition
OLED: Organic Light Emitting Diode
O&M: Operation and Maintenance
ORF: Open Reading Frame
ORG & CCI: Office of Registrar General & Census Commissioner of India
P
PAC: Process Advisory Committee
PDP : Plasma Display Panels
PIs: Participating Institutions
PKS: Polyketide Synthase
PMG: Project Management Group ()
PMSD: Project Management Service Division
PNG: Portable Network Graphics
PoC: Proof of Concept
PoP: Point of Presence
PRSG: Project Review and Steering Group
PSC: Programme Steering Committee
PSE: Public Sector Enterprise
Q
QAF: Quality Assurance Framework
QoS: Quality of Service
R
RASIP : Reconfigurable Application Specific Instruction-Set Processor
RCAI: The Root Certifying Authority of India
RCs: Resource Centers
RFD: Result Framework Document
RFID : Radio Frequency Identification
RFP: Request for Proposals
RFQ : Request For Qualification
RIELIT: Regional Institute of e-Learning and Information Technology
RIR: Regional Internet Registry
RoHS: Restriction of Hazardous Substances
ROTs: Receive Only Terminals
RPR: Resilient Packet Ring Technologies
S
SaaS: Software As A Service
SAMEER: Society for Applied Microwave Electronics Engg. and Research
SAP: Service Access Providers
SASEC : South Asia Subregional Economic Cooperation
SCA: Service Centre Agency
SCADM: Single Channel Add-Drop Multiplexer
SDA: State Designated Agency
SDR: Software-Defined Radios
SeMT: State e-Governance Mission Team
SEZ: Special Economic Zone
SLA: Service Level Agreement
SIA : State Implementing Agency
SIPS: Special Incentives Package Scheme
SITs: Sattelite Interactive Terminals
SOA: Service Oriented Architecture
SMDP : Special Manpower Development Programme
SPF: State Portal Framework
SRS: Software Requirement Specifications
SSDG: State Services Delivery Gateway
SSL: Secure Socket Layer
STQC Dte.: Standardisation, Testing and Quality Certification Directorate
STT: State Technical Team
SDC: State Data Centre
SHQ: State Headquarter
SIA: State Implementing Agency
SIP-EIT: Support International Patent Protection in Electronics & IT
STPI: Software Technology Park of India
SVM: Support Vector Machine
SWAN: State Wide Area Network
T TCG: Trusted Computing Group
TKDL: Taditional Knowledge Digital Library
TPA: Third Party Audit
TCAD: Technology Computer-Aided Design
TIED: Technology Incubation and Development
TIFR: Tata Institute of Fundamental Research
TMR: Tunnel Magnetoresistance
TSP: Technical Service Provider
TTS: Text to Speech
U
UIDAI: Unique Identification Authority of India
UGC: University Grants Commission
UNESCAP: United Nations Economic and Social Commission for Asia and the Pacific
URL: Uniform Resource Locator
UWB: Ultra Wide Band
V
VLE: Village Level Entrepreneur
VLSI: Very Large Scale Integration
VNIT: Visvesvaraya National Institute of Technology
VOC: Volatile Organic Compounds
VR-MISS: Virtual Reality based Minimally Invasive Surgical Simulator
W
W3C: Worl Wide Web Consortium
WAN: Wide Area Network
WCAG: Web Content Accessibility Guidelines
WIPO: World Intellectual Property Organization
WSIS: World Summit on Information Society
Z
ZF: Zinc Finger