Skip to main content

Daily G.K. Buzz - 08th April 2015

National

Union Cabinet approved amendments to Real Estate (Regulation and Development) Bill, 2013

i. The Union Cabinet on 7 April 2015 approved amendments to the Real Estate (Regulation and Development) Bill, 2013. The bill protects the interests of millions of consumers and curbs malpractices in the real estate sector.
ii. Through the amendments, the applicability of the Bill has been extended to commercial real estate too. Ongoing projects that have not received Completion Certificates have also been brought under the purview of the Bill and such projects will need to be registered with the Regulator within three months.

Union Ministry of Commerce and Industry constituted Ajay Shankar committee to simplify clearances

i. The Union Ministry of Commerce and Industry on 8 April 2015 formed an expert committee under the chairmanship of Ajay Shankar to suggest simplified compliance for establishing new industries. He is a former Secretary to the Department of Industrial Policy and Promotion (DIPP).
ii. The Expert Committee has been constituted for examining the possibility of replacing multiple prior permissions with pre-existing regulatory mechanism and to prepare draft legislation for this purpose. The committee is directed to submit its report within 30 days.

Union Government to re-classify industries in a three-coloured scheme based on pollution potential

i. The proposal was part of the resolution adopted at the two-day State Environment and Forest Ministers' Conference at which measures to amend regulations to improve ease-of-doing business while protecting the environment was discussed.
ii. Proposed colour-coded scheme
• Red Category: Industrial sectors with a score of 60 and more
• Orange Category: Industrial sectors with a score between 30 to 59
• Green Category: Industrial sectors with a score between 15 to 29

PM launches MUDRA(Micro Units Development and Refinance Agency) Bank for small firms



Theme - "fund the unfunded"
i. Prime Minister Narendra Modi on Wednesday launched a bank with a corpus of Rs 20,000 crore to extend credit of up to Rs 10 lakh to small businesses and regulate micro-finance institutions, to promote their growth, add to the country's output and create jobs.
ii. About MUDRA Bank
Setting up
Mudra Bank is being set up through a statutory enactment and will be responsible for developing and refinancing through a Pradhan Mantri MUDRA Yojana.
Last mile financiers
Since small entreprenuers are businssess are often cut off from banking system because of limited branch presence, Mudra Bank will partner with local coordinators and provide finance to "Last Mile Financiers" of small/micro businesses.
Targets
The Finance Ministry said measures to be taken up by MUDRA are targeted towards mainstreaming young, educated or skilled workers and entrepreneurs including women entrepreneurs.
5.77 crore
The bank will cater to 5.77 crore small business units that are spread all across India who currently find it difficult to access credit from the regular  banking system.
Recovery method
Mudra Bank will ensure clients are properly protected and will lay down principles and methods of loan recovery in case of a default. The Bank will also rigidly follow "responsible financing practices" so deter borrowers from indebtedness.
Corpus
The Bank will be set up with a corpus of Rs 20,000 crore and a credit guarantee fund of Rs 2,000 crore.
Shishu/Kishor/Tarun
The Bank will nurture small businesses through different stages of growth and development of businesses termed as Shishu, Kishor and Tarun.
Shishu
This iswill be the first step when the business is just starting up. The loan cover in this stage will be upto Rs 50,000.
Kishor
In this stage, the entreprenuer will be eligible for a loan ranging from Rs 50,000 to Rs 5 lakh.
Tarun
This last and final category will provide loans for upto Rs 10 lakh.

Economy

Videocon d2h lists on NASDAQ, raises $ 325 mn via ADR

i. Videocon d2h became the first Indian private company since the year 2000 to list overseas, issuing ADR worth $325 million to the public.
ii. Videocon d2h has achieved several milestones through this listing like becoming the first sizeable Indian listing on US exchanges since 2010 & the 1st Indian Media company to be listed at Nasdaq. At an approx market cap of $1.15 billion, Videocon d2h has become the most valued Indian company at NASDAQ.

Snapdeal buys Freecharge in mobile transactions push


i. E-retailer Snapdeal.com said on Wednesday it bought online mobile recharge firm Freecharge for an undisclosed amount in a bid to boost its reach in the fast-growing mobile transactions business.
ii. Freecharge would remain an independent platform even after the deal, which is expected to close within the next 6 months, Bahl said, without specifying how much much it paid to buy the mobile recharge firm.

Sports

Gujarat won Syed Mushtaq Ali T20 Trophy

i. Gujarat cricket team on 7 April 2015 won the 2014-15 Syed Mushtaq Ali T20 Trophy played at the KIIT Cricket Stadium, Bhubaneshwar. In the final clash, Gujarat defeated Punjab by two wickets.
ii. Wicketkeeper and opening batsman Smit Patel's unbeaten 50 helped Gujarat to win their second Syed Mushtaq Ali Trophy.


Labels:

Comments

Post a Comment

Popular posts from this blog

Easy way to understand Direct and Indirect speech rules

Introduction. There two ways to convey a message of a person, or the words spoken by a person to other person. 1.       Direct speech 2.       Indirect speech Suppose your friend whose name is Vipul tells you in College , “I will give you a pen”. You come to home and you want to tell your brother what your friend told you. There are two ways to tell him. Direct speech:   Vipul said, “I will give you a pen”. Indirect Speech:  Vipul said that he would give me a pen. In direct speech   the original words of person are narrated (no change is made) and are enclosed in quotation mark. While in indirect speech some changes are made in original words of the person because these words have been spoken in past so the tense will change accordingly and pronoun may also be changed accordingly. In indirect speech  the statement of the person is not enclosed in quotation marks, the word “ that ” may be used before the statement to show that it is indirect sp
3 comments
Read more

English Error Spotting - Previous Year Questions of SSC CGL

Competition Zenith brings you a post on Error Spotting to boost your English for competitive exams. We are providing you the specifically chosen questions from previous year papers of SSC CGL with the best possible explanation in simplest of the language. Below are some questions with explanation: Questions 1. Have trust on(a)/God and everything(b) /will be right.(c) /(d) No error 2. The cattles (a) /are grazing (b) /in the fields.(c) /(d) No error 3. He is one of (a)/ the best novelists (b) /that has ever lived. Do you agree? (c)/no error (d) 4. On a rainy day (a) /I enjoy to watch TV (b) / with a hot cup of tea.(c ) /no error(d) 5. No sooner did (a)/I reach (b)/ Patna railway station than the train departed(c)/no error (d) 6. There is no agreement (a) / between you and I (b) /so we are free to go our way(c) /no error (d) 7. A variety of books (a) / is available in the market (b) / to help the students qualify the competitive examinations.(c) /no error 8.
4 comments
Read more

Spotting Error Quiz IV - With Explanation For SSC Exam 2015

  Hello Readers, As you know that Spotting Error types question is an important part of competitive examinations and seldom any book provide you the detailed solution. So we have decided to provide you the previous year questions of  spotting error along with the Explanation . If you like it let us know, you can also ask for detailed solutions of questions that are bothering you. 1.     I found (a)/ the two first chapters of the book (b)/ particularly interesting. (c)/ No error (d) Answer    (b) Explanation : It should be   ‘the first two chapters’ . 2.     Bacon, the father of the English easy (a) / had a thirst (b) / of knowledge (c) / No error (d) Answer    (a) Explanation : The English means the citizen of England.   Article is not used before language
4 comments
Read more