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PIB Summaries 27 September 2023

CONTENTS

  1. India Post Payments Bank
  2. Traditional medicine

India Post Payments Bank


Context:

Recently, the customers of India Post Payments Bank have been receiving an SMS claiming that their accounts will be blocked if they fail to update their PAN card details, which the Press Information Bureau called fake.

Relevance:

GS III- Indian Economy

About India Post Payments Bank (IPPB)

  • The India Post Payments Bank is a public sector payments bank from India operated by the India Post.
  • The India Post Payment Bank (IPPB) was setup under the Department of Post, Ministry of Communication with 100% equity Owned by Government of India.
  • The India Post Payments Bank (IPPB) will be like any other banks but its operations will be on a smaller scale without involving any credit risk.
  • It will carry out most banking operations like accepting deposits but won’t advance loans or issue credit cards.
  • Motto: “Every customer is important, every transaction is significant and every deposit is valuable”.
  • Vision: “Building the most accessible, affordable and trusted bank for the common man”.
  • Mission: “Spearheading financial inclusion by removing barriers and reducing costs for accessing banking services”.
  • The IPPB has been integrated with Post Office Savings Bank (POSB).
  • The IPPB is the sixth Payments bank, which has become operational after Aditya Birla, Airtel, Fino, Jio and Paytm Payments Banks.
  • The freshly-minted payments bank will accept deposits of up to Rs. 1 lakh, offer remittance services, mobile payments/transfers/purchases and other banking services like ATM/debit cards, net banking and third-party fund transfers.
  • The Payments bank are licensed under Section 23 of the Banking Regulation Act 1949, and registered as public limited company under the Companies Act, 2013.

Traditional medicine


Context:

After joining G20 bloc under India’s 2023 presidency, the African Nations are all set to explore the power of Indian Systems of Traditional Medicine and Integrative health care.

Relevance:

GS II- Health

About Traditional Medicine:

The traditional Indian system of medicine comprises of Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homeopathy (AYUSH), is a perennially neglected alternative medicine sector.

Ayurveda:
  • The word Ayurveda means ‘Science of Life’ and employs treatment modalities, such as purification, palliation, prescription of various diets, exercises and the avoidance of disease causing factors and it evolved nearly 5000 years ago.
  • The Ayurvedic medicine, though practiced for a wide range of health needs, is more commonly used for preventive and health and immunity boosting activities.
Yoga & Naturopathy:
  • Practices of Yoga are reported to have originated in India and is now being adapted to correct lifestyle by cultivating a rational, positive and spiritual attitude towards all life situations.
  •  21st June is designated as ‘International Yoga Day’.
  • Naturopathy or the naturopathic medicine is a drugless’ non- invasive system of medicine imparting treatments with natural elements based on the theories of vitality, toxemia and the self-healing capacity of the body, as well as the principles of healthy living.
  • The common naturopathy modalities include counselling, diet and fasting therapy, mud therapy, hydrotherapy, massage therapy, acupressure, acupuncture, magnet therapy and yoga therapy.
Unani Medicine:
  • It was originated in the Arab world, though over a period of time it imbibed some concepts from other contemporary systems of medicines in Egypt, Syria, Iraq, Persia, India, China and other Middle East Countries.
  • Unani medicine treats a patient with diet, pharmacotherapy, exercise, massages and surgery.
Siddha:
  • Originated in India and is amongst the oldest systems of medicine in the country.
  • It takes into account the patient, his/her surroundings, age, sex, race, habitat, diet, appetite, physical condition etc. to arrive at the diagnosis.
  • Siddha System uses minerals, metals and alloys and drugs and inorganic compounds to treat the patients.
  • Unlike most T&CM, this system is largely therapeutic in nature.
  • Siddha literature is in Tamil and it is practiced largely in Tamil speaking part of India.
Homeopathy:
  • The word ‘Homeopathy’ is derived from the Greek words, ‘Homois’ meaning ‘similar’ and ‘pathos’ means ‘suffering’.
  • It originated in Germany and was introduced in India around 1810-1839.
  • It uses highly individualized remedies selected to address specific symptoms or symptom profiles.
  • It is practiced in many countries and in India, where it is the second most popular system of medicine.
Sowa-Rigpa:
  • The word combination means the ‘science of healing’ and is considered one of the oldest living and well-documented medical traditions of the world.
  • It originated from Tibet and is widely practiced in India, Nepal, Bhutan, Mongolia and Russia.

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