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October 21, 2015

Important Differences you should know about Two Indradhanush Missions (Health & Banking)

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Friends, many of the competitive exam aspirants are in a great confusion about the Mission Indradhanush, as there are two separate missions with the same name. These two separate missions are belongs to two different sectors, i.e., Health and Banking. So here we will try to shed some light on these two missions along with some major differences among them. Happy Reading :)

Mission Indradhanush ( related to Health Sector)

The health mission known as 'Mission Indradhanush' was launched by the Union Government of India in the year 2014.
  • Launched by : Jagat Prakash Nadda (Health and Family Welfare Minister)
  • Launched on : 25th December 2014 
  • Aim of this Mission : To cover all those children who are unvaccinated or are partially vaccinated against seven vaccine preventable diseases which include diphtheria, whooping cough, tetanus, polio, tuberculosis, measles and hepatitis B, by the end of the year 2020.
  • Key Points to Note :
    • This mission was launched on Good Governance Day (25th December) to mark the birth anniversary of Bharat Ratna Shri Madan Mohan Malaviya and birthday of Bharat Ratna Shri Atal Bihari Vajpayee.
    • As per the mission guidelines, 201 high focus districts in the country will be targeted by intensive efforts to improve the routine immunization coverage. 
      • These 201 districts are having nearly 50 percent of all unvaccinated or partially vaccinated children have been identified and will be covered in the first phase of the mission. 
      • Out of the 201 districts, 82 districts are in the four states of Uttar Pradesh, Bihar, Madhya Pradesh and Rajasthan. This means that nearly 25 percent of the unvaccinated or partially vaccinated children of India are in the 82 districts of these 4 states.
  • Under Mission Indradhanush, four special vaccination campaigns were conducted between January and June 2015.

Mission Indradhanush ( related to Banking & Finance Sector)

This mission was launched by the Finance Ministry in the year 2015.
  • Launched by : Arun Jaitley (Union Finance minister)
  • Launched on : 14th August 2015 
  • Aim of the Mission : to revamp functioning of public sector banks.
Key Points to Note :  
  • The seven shades of Indradhanush mission include appointments, de-stressing PSBs, capitalisation, empowerment, framework of accountability and governance reforms.
    • Seven Shades:
      • Appointments: Selection of non-executive chairman in remaining 6 state owned PSBs till November 2015. Appointing MD & CEO of two PSBs as early as possible.
      • Bank Board Bureau (BBB) : It will be a body of ’eminent’ professionals to be selected within 6 months i.e. February 2015. It will become functional from Financial year 2016-17 i.e. form 1st April 2016.
      • Capitalisation : Infuse 25,000 crore rupees of capital into debt-laden banks in this fiscal in phased manner. Out of this 20,000 crore rupees would be injected in August 2015. Rest 5,000 crore rupees will be performance based allocation to be allocated in the last quarter of 2016.
      • De-stressing PSBs : To develop vibrant debt market for PSBs in order to reduce lending pressure on banks. Strengthen asset reconstruction of companies.
      • Empowerment : Provide greater flexibility in hiring of manpower in PSBs.
      • Framework of accountability : It will seek to streamline vigilance process for quick action in case major frauds and also include connivance of staff.
      • Governance reforms in PSBs : Next Gyan Sangam (also known as the Banker’s Retreat) will be held from 14 to 16 January 2016. Employee Stock Option Plan (ESOP) will be initiated for top management.
  • Banks board of bureau will replace existing appointments board. 
  • Its members would be appointed in the next six months to be headed by the RBI governnor. 
  • Under recapitalisation plans for Public Sector Banks, 13 banks would get Rs 20,058 crore this financial year. The rest Rs 5,000 crore would be allocated based on efficiency criteria. 
  • SBI will get the  highest Rs 5,511 cr, followed by Bank of India at Rs 2,455 cr, IDBI at Rs 2,229 cr, PNB at Rs 1732 cr and IOB at Rs 2009 cr.

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