For Descriptive Paper, while reading such news, not only know the facts but also understand questions like 1. Will this scheme not make MFIs dependent on Govt support, these MFIs are otherwise commercial institutions 2. Some MFIs will get this support and others not. Is government doing it right by not making level playing field. 3. When NPAs is increasing in MFI sector why govt is encoring banks to lend to MFIs, finally the burden of increased NPAs will come to the public money.

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This is the front page news today in most of the business newspapers. For you understanding "retrospective tax" is important.

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I wrote why retrospective tax damages the reputation. Managers of licensed businesses getting arrested is worst. These are professionals not any 'business owner - making profit any how'. If govt cannot support in innovation (FinTech is a new sector), at least Govt shall not be so hungry for collecting tax?
But don't use such strong language in the Phase 2 exam. I am writing it so that it provokes your thinking.

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