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India announces two credit risk insurance policies for shipbuilding
വാർത്തയിൽ എന്തുകൊണ്ട്?
Why do shipyards need credit risk insurance? The shipbuilding push behind it, for GS-III infrastructure answers
India has announced two credit risk insurance policies to support its shipbuilding industry. The measures aim to protect shipyards from payment delays and financial risks while strengthening maritime infrastructure and industrial competitiveness.
Why it matters: factual, Prelims-type
What you need to know
2 മിനിറ്റ്
India has announced two credit risk insurance policies to support its shipbuilding industry.
The measures aim to protect shipyards from payment delays and financial risks while strengthening maritime infrastructure and industrial competitiveness.
ഉറവിടങ്ങൾ: Topper IAS editorial (PIB / The Hindu / Indian Express)
പ്രധാന വസ്തുതകൾ
Remember these
- India has announced two credit risk insurance policies to support its shipbuilding industry.
- The policies aim to protect shipyards from payment delays and financial risks.
- Shipbuilding is a long-gestation, capital-intensive industry where buyers pay in stages, so payment default is a major risk for yards.
- The nodal ministry for shipbuilding is the Ministry of Ports, Shipping and Waterways.
- Maritime India Vision 2030 and Sagarmala frame India's port-led development and maritime capacity goals.
പ്രിലിംസ് · മെയിൻസ്
How the exam will ask it
പ്രിലിംസ്
- Credit risk insurance protects a seller against non-payment or delayed payment by a buyer, helping the seller raise finance more easily.
- Shipbuilding policy in India is administered by the Ministry of Ports, Shipping and Waterways.
- Sagarmala is the Government of India programme for port-led development and coastal infrastructure.
- Statement check: financial-risk cover for shipyards is meant to improve their competitiveness and strengthen maritime infrastructure.
മെയിൻസ്
GS-III (Infrastructure; Industry): Indian shipyards face long build cycles, high working-capital needs and payment-default risk, which makes lenders cautious. Credit risk insurance policies shift part of this risk away from yards, easing finance and supporting orders. The way forward is to pair such cover with cheaper long-term finance, cluster development and skilled labour, so that domestic shipbuilding capacity and maritime self-reliance grow together.
Quick recall
Answer before you reveal
Under the Payment and Settlement Systems Act, 2007, the authority that regulates and supervises payment systems such as UPI is the:
- Securities and Exchange Board of India
- National Payments Corporation of India
- Ministry of Finance
- Reserve Bank of India
ഉത്തരം കാണിക്കൂ
ഉത്തരം: D — Reserve Bank of India is correct. Reserve Bank of India is correct. The Reserve Bank of India is the regulator of payment systems; NPCI operates UPI as an umbrella organisation for retail payments.
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