An islet refers to a small piece of land that is smaller than an island, often surrounded by water.
Islets are generally much smaller in size compared to islands, often covering only a few acres or even less.
Islets can be found in various bodies of water, including oceans, seas, rivers, and lakes.
Islets can form through various natural processes, such as erosion, sediment deposition, volcanic activity, or shifts in water levels.
Islets may have diverse features, including rocky or sandy shores, vegetation, and sometimes even small ecosystems.
Due to their small size, islets may be difficult to inhabit or develop for human habitation.
Some islets may be used for specific purposes, such as research stations, wildlife reserves, or tourism destinations.
Islets can play a role in providing habitats for various species of plants, animals, and birds.
Islets contribute to the overall biodiversity and ecosystem health of their surrounding areas.
Katchatheevu islet
Tamil Nadu Chief Minister M. K. Stalin calls for the retrieval of Katchatheevu, a 285-acre islet off Rameswaram, from Sri Lanka during a fishermen's conference.
The 1974 agreement between India and Sri Lanka defined the boundary between the two countries and placed Katchatheevu under Sri Lanka's jurisdiction.
Fisherfolk from both countries traditionally used the islet for fishing, but later agreements restricted fishing without express permission.
The demand for Katchatheevu's retrieval stems from opposition to the 1974 pact, generating debates in Indian Parliament.
The issue resurfaced in 1991 when Chief Minister Jayalalithaa demanded retrieval through "a lease in perpetuity."
The Indian government stated that no territory belonging to India was ceded to Sri Lanka and that the islet's status was settled through 1974 and 1976 agreements.
The Centre's response in 2022 indicated that Katchatheevu lies on the Sri Lankan side of the India-Sri Lanka International Maritime Boundary Line, and the matter is sub-judice in the Supreme Court.
Public Tech Platform for Frictionless Credit
The RBI initiated a pilot program on August 17 to assess the feasibility and functionality of the 'Public Tech Platform for Frictionless Credit'.
The platform aims to enable seamless digital delivery of credit by consolidating required digital information for lenders.
Credit appraisal is a crucial pre-disbursal process for banks to evaluate borrowers' repayment capacity and adherence to credit agreements.
Data necessary for credit appraisal is scattered across various entities, creating obstacles for smooth lending processes.
The platform intends to consolidate these data sources and facilitate frictionless and timely loan delivery.
A pilot project was launched in September 2022 to digitize Kisan Credit Card (KCC) loans under ₹1.6 lakh, currently ongoing in select districts.
The platform is based on ongoing programs and will expand to cover various digital loans with an open architecture and APIs.
The RBI's subsidiary, Reserve Bank Innovation Hub (RBIH), will develop the public platform.
The platform will connect with Aadhar e-KYC, e-signing, land records, satellite data, PAN validation, and more to assess creditworthiness.
This platform aims to simplify and accelerate credit assessments, benefiting borrowers with quicker access to capital at lower costs.
The RBI's survey revealed that farm loan processing took 2-4 weeks, costing about 6% of the loan's total value.
Overall, the lending platform seeks to reduce costs, expedite disbursements, and improve scalability.
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