The Pradhan Mantri Awas Yojana (PMAY)- It is an initiative of the Government of India which aims at providing affordable housing to the urban poor by the year 2022. The scheme was first launched on 25 June 2015. The interest rate for the PMAY scheme starts at 6.50% p.a. and can be availed for a tenure of up to 20 years. The implementation period of the PMAY-Urban scheme has been extended until 31 December 2024. The Union Housing and Urban Affairs Ministry said that more than 1 crore houses have been grounded and over 61 lakh houses completed and delivered to the beneficiaries. (2022)
Oral rehydration therapy- This therapy is a type of fluid replacement used to prevent and treat dehydration, especially due to diarrhoea. It involves drinking water with modest amounts of sugar and salts, specifically sodium and potassium. Dilip Mahalanabis, the doctor (from Bengal) who helped prove the effectiveness of oral rehydration solution (ORS) by administering it to a large number of cholera patients at a refugee camp in Bongaon during the 1971 war, passed away recently.
Nostro and Vostro accounts- Nostro and Vostro are accounting terms used to distinguish an account held for another entity from an account another entity (bank) holds. To distinguish between the two sets of records of the same balance and set of transactions, banks refer to the accounts as Nostro and Vostro. Speaking from the point of view of the bank whose money is being held at another bank: A Nostro is our account of our money (in which country you are staying), held by the other bank or “Foreign Bank”. A Vostro is our account of other bank / “Foreign Bank’s” money, held by us (by your country’s bank).
Omicron BF. 7– It is the latest sub-variant of the Omicron variant, first detected in Northwest China’s Inner Mongolia Autonomous Region. Also known as the ‘Omicron spawn’, this new variant is fast spreading and has even infiltrated the walls of several other countries including the United States, UK, Australia and Belgium.
NeoBank-A Neobank (also known as an online bank, internet-only bank, virtual bank or digital bank, or challenger bank) is a type of direct bank that operates exclusively online without traditional physical branch networks. Their services may be accessed by clients through their respective computers or mobile devices. Freo, Fi Money, Jupiter, Mahila Money, Niyo, RazorpayX, Jupiter. etc are some examples of it in India.
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