Editorial Simplified : 11th Day of June 2016
This Series of posts covers the essential Editorial from prominent newspapers. The Editorial from the newspapers are compiled by the Subject Teachers form the Academy and provided in notes format so that the aspirants does not waste their precious time in sifting through the newspapers.
The aspirants are advised to bookmark this page for future reference
Click on the tab below to read the Editorial Simplified for each newspaper
[accordion_content accordion_label=”The Hindu”]
Editorial : Steering India to safer roads
Recently the ‘Road Safety in India report’ analysed the unsafe Indian roads. The editorial examines the situation.
- Road accidents last year took 1,50,000 lives and injured more than half a million people.
- The risk of fatal injuries has been found to be increasing steadily.
- Data shows that more than half killed last year were in productive age group of 15 to 34.
- The report points towards a rising public health emergency in road accidents which need to be reduced.
- One of the most productive measure might be zero tolerance enforcement of laws and strong policing.
- A road safety board as suggested by Sundar Committee should be set up and empowered accordingly.
- Elimination of corruption from certifying and licensing system is necessary.
- The Central Government should also act on virtual monopoly held by automobile companies on spares and servicing of vehicle.
Research suggests there will be an annual rise in fatalities till 2042. That distressing fact can be changed only through determined action today.
[accordion_content accordion_label=”Live Mint”]
Editorial : Cracking the payments bank puzzle
Payment Banks in India
What is the news?
- 11 players who were issued in-principle approvals for payments bank licences, one (Airtel M Commerce Services Ltd) has received the final licence.
- Recently , 3 payments banks (Cholamandalam Investment, Dilip Shanghvi-Telenor Financial-IDFC Bank and Tech Mahindra) have wit hdrawn their applications, reviving questions about the viability of the business model.
What was the motive behind these banks
Universal financial inclusion
What might lead to their success?
- Ability to go beyond serving the well-banked smartphone-carrying consumers who have been the focus of digital payments in India so far.
- They need to creatively reach the low-income and financially underserved—the so-called base of pyramid (BOP) consumers.
Key factors critical to successfully serving bop consumers.
- Players will need to deepen understanding of the unique needs of BOP consumers and develop products and customer experiences tailored to these needs.
- adopting a hypotheses-based, prototyping approach to identify ideas that have value and can drive up BOP customer experience.
- Creating a set of KPIs and skill-enhancement programmes so that the entire organization across various functions—product, sales, operations, etc.—is involved in BOP customer experience projects.
- Need to embed the ethos of providing a respectful and positive customer experience to BOP customers to earn their trust and loyalty .
- Need to rely on physical agent networks, to serve this segment.
- Need to harness the potential of the ubiquitous kirana (neighbourhood) store, by making it worth their while to accept digital payments. Today, 95% of retail in India is unorganized, and only 6% of these retail establishments accept digital payments.
- Increase in awareness & increase interest in trying digital payments for this particular strata.
- Micro-deposits saving product for BOP customers.
- Queues and limited opening hours of bank branches and complex formalities for deposit and withdrawal should be made easier.
- traditional pension products that pay out several years in the future do not tend to resonate; they may need to be blended into “hybrid” instruments that pay out some portion of their value over time.
- By simplifying and miniaturizing investment products such as mutual funds.
- Companies will need to design digital user interfaces and user experiences that are tailored to the digital literacy and social contexts of this particular segment
As these banks look to the currently underserved as a potentially important market, investing in understanding their unique needs, and embedding the philosophy of customer centricity across their organization will be critical to their success.
[accordion_content accordion_label=”Indian Express”]
Editorial : A place in the club
Indian entry into Nuclear Supplier Group (NSG)
- Little possibility that India’s effort to join the will meet with success any time soon.
- China argues that since India is being allowed to join the NSG without signing the Nuclear Non-Proliferation Treaty, until now a precondition, the rules of club membership need to be amended for all.
- The argument is designed to benefit Pakistan, but the NSG members do not wish to be seen to be rewarding Pakistan’s unedifying record of proliferating nuclear technology to Libya, Iran and North Korea.
- India needs nuclear technology and fuel but an exemption by the NSG in 2008 allows it access to both.
- India is mired in domestic debates over liability for nuclear accidents and has been slow to capitalise on the opportunities the exemption opened up.
- India could relegate its NSG bid to the back-burner, and focus on growing its domestic nuclear energy infrastructure.
- It could, alternately, work towards a bargain where China is allowed entry into the Missile Technology Control Regime, where India is now assured of membership, in return for dropping its veto in the NSG.
- Finally, India could explore whether a door could be opened for Pakistani membership of the NSG, in return for that country opening up its notoriously opaque nuclear programme to international scrutiny.
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