MuleHunter.AI

MuleHunter.AI was recently developed by the Reserve Bank Innovation Hub (RBIH) to crack down on ‘mule bank accounts’.

• A mule account is a bank account that is used by criminals for illegal activities, including the laundering of illicit funds.
• A mule account is typically bought over by the criminals from their original users, individuals who are often from lower income groups, or have low levels of technical literacy.
• “Money mule” is used to describe the innocent victims who are used by the criminals to launder stolen or illegal money via their bank accounts.
• The Reserve Bank has been taking various measures in coordination with banks and other stakeholders to prevent and mitigate digital frauds in the financial sector.
• MuleHunter.AI – It enables detection of mule bank accounts in an efficient manner.
• It aids to deal with the issue of mule bank accounts being used for committing financial frauds.
• MuleHunter.AI was developed by the Reserve Bank Innovation Hub (RBIH).

The Reserve Bank is currently also running a hackathon on the theme “Zero Financial Frauds”, which includes a specific problem statement on mule accounts, to encourage development of innovative solutions.

• Reserve Bank Innovation Hub (RBIH) – It is a wholly-owned subsidiary of the Reserve Bank of India (RBI).
• It was set up to promote and facilitate an environment that accelerates innovation across the financial sector.
• The 4 innovation pathways include:
  1. RBIH Build – Develop bespoke in-house solutions, where market solutions do not exist or suffice.
  2. RBIH Design – Design user-centric processes and products to enable frictionless customer journeys.
  3. RBIH Incubate – Nurture existing fin-tech start-ups and the innovation ecosystem.
  4. RBIH Insights – In-depth research and insights to shape the financial innovation landscape.

No-Confidence Motion

• A no-confidence motion is a parliamentary process that allows the opposition to challenge the government's majority and ability to govern.
• If the motion is passed, the government must resign.
• Any member of the Lok Sabha can move a no-confidence motion and the motion must be supported by at least 50 members of the House.
• A no-confidence motion must be in writing and must be signed by the member moving it.
• Article 92 of the Constitution, states that the Chairman or the Deputy Chairman cannot preside while a resolution for their removal from office is under consideration.

The first no-confidence motion was moved against Prime Minister Jawaharlal Nehru in 1963.

• The motion must be submitted to the Speaker of the Lok Sabha on any day on which the House is sitting.
• Unlike censure motion, it need not state the reasons for its adoption in the Lok Sabha.
• PM Indira Gandhi faced the most no-confidence motions (15), followed by Lal Bahadur Shastri and PV Narasimha Rao (three each).

Yuva Sahakar Scheme

• Yuva Sahakar is a cooperative enterprise support and innovation scheme, being implemented by National Cooperative Development Corporation (NCDC).
• Yuva shakar aims to encourage newly formed cooperative societies with new innovative ideas.
• The scheme encourages young entrepreneur Cooperative Societies which are in operation for a minimum of 3 months. (Statement 1 is incorrect)
• The loan provided under the scheme is a long-term loan (up to 5 years) and as an incentive, NCDC provides 2% interest subvention on its applicable rate of interest on term loan for the project activities.
• National Cooperative Development Corporation (NCDC) – It was established by an Act of Parliament in 1963.
• It is a statutory corporation under the administrative control of Ministry of Cooperation.

Ayush Visa

• The Government has introduced a separate category of Ayush Visa for foreigners visiting India for availing treatment under Ayush system of medicine.
• Ayush Visa is available under four 4 categories that include:
  1. Ayush Visa (AY-1)
  2. Ayush Attendant Visa (AY2)
  3. e-Ayush Visa
  4. e-Ayush Attendant Visa

• Ayush Visa is granted to a foreigner whose sole purpose is to seek treatment through Ayush systems like therapeutic care and Wellness in a Hospital/Wellness Centre.
• Hospital or Wellness Centre should be accredited and registered with any Government authorities such as:
  • Concerned or National Accreditation Board for Hospitals & Healthcare Providers (NABH),
  • National Commission for Homoeopathy (NCH) and
  • National Commission for Indian System of Medicine (NCISM) accredited hospitals providing Ayush services.
• Advantage Healthcare India portal – It is a "One-Stop" portal developed for the facilitation of information for those who want to avail medical treatment in India from abroad.
• It was launched by the Ministry of Health and Family Welfare and it is the official portal for Medical Value Travel (MVT).
• Ayush Medical Value Travel Summit 2024 – It aims to strengthen India's position in Medical Value Travel (MVT) by integrating traditional Indian systems of medicine with modern healthcare systems.
• 'Global Synergy in Ayush: Transforming Health and Wellness through Medical Value Travel’ is the theme of the summit.
• It was held at Mumbai.

Rural Self Employment Training Institutes (RSETIs)

• Rural Self Employment Training Institutes (RSETIs) are being run by banks and are well equipped to train Rural Poor Youth including Below Poverty Line (BPL) youth.
• The RSETIs develop the Annual Action Plan based on local needs and candidates' interests.
• There are 64 approved training programs by the National Council for Vocational Education and Training (NCVET) and the Ministry of Rural Development (MoRD).
• There is no category-wise release of funds under the RSETI scheme.