Default loss guarantee (DLG)/ First Loss Default Guarantee (FLDG)

Facts for Prelims (FFP) Source: IE  Context: The RBI has allowed a Default loss guarantee (DLG) (also called first Loss Default Guarantee (FLDG), a safety-net arrangement among banks, non-banking finance companies (NBFCs) and lending service providers (LSPs).   LSPs: These are new-age technology platforms/ agents (of a bank or NBFC) in the lending space who …

The Hiroshima AI process

GS Paper 3  Syllabus: Awareness in the fields of IT, Space, Computers, Robotics, Nano-technology, Bio-technology and issues relating to Intellectual Property Rights   Source: TH Context: The 2023 annual G7 Summit, hosted by Japan (Hiroshima), initiated the Hiroshima AI Process (HAP) – an effort to determine a way forward to regulate artificial intelligence (AI).   …

Assistive technology to make urban centres disabled friendly

GS Paper 2  Syllabus: Mechanisms for the Protection and Betterment of Vulnerable Sections   Source: IE  Context: Assistive technology – products, equipment, and systems that enhance learning, working, and daily living for persons with disabilities (PwD) – can aid PwD, enabling their full participation in urban life.   Need for inclusive cities: India is urbanising …