DOWNLOAD PDFCURRENT AFFAIRS 5th Jan., 2015
1. SEBI proposed barring entities or individuals declared as wilful defaulters from raising funds from the capital markets and also from taking control of a listed company. An individual or a company is declared 'wilful defaulter' for deliberate non-payment of the dues despite adequate cash flow and good net worth and for siphoning off funds to the detriment of the defaulting unit.
2. Government has aligned the foreign direct investment policy with the upgraded National Industrial Classification (NIC) Code. The code will classify business activities and help the industry in seeking policy approvals for specific activities.
3. Centre will issue commemorative coins in honour of Tata Group founder Jamsetji Nusserwanji Tata to mark his 175th birth anniversary. Jamsetji Tata is considered as the father of modern industry in India and he will be the first industrialist to be honoured by the Indian government.
4. Supreme Court has made public the in-house procedure to deal with complaints of misconduct or impropriety against the higher judiciary almost 15 years after it was adopted.
5. Union Cabinet approved the largest telecom spectrum auction that is targeted to fetch at least Rs.64,840 crore from its sale. Proceeds from this year’s auction will help government reach its fiscal deficit target of 4.1 per cent of GDP.
CURRENT AFFAIRS 6th Jan., 2015
1. Government has said that it has no desire to reduce its stake in public sector banks at present. The need for dilution of government stakes has arisen due to higher capital requirement for meeting the Basel-III norms by April 2019 and an overall pressure on government finances.
2. Competition Commission of India (CCI) has rejected charges of cartelisation against 12 banks including State Bank of India, Canara Bank, Indian Overseas Bank and IDBI Bank in the agri-gold loan business. The application was filed by Muthoot Mercantile Ltd which had alleged anti-competitive practices were taking place by giving the same interest rate in the agri-gold loan business.
3. Commercial banks are demanding for consortium to be made mandatory for large corporate credit to plug in loopholes in multiple banking arrangements. Multiple banking is an arrangement where a borrower avails of finance independently from more than one bank. Under consortium financing, several banks will finance a borrower with common appraisal, common documentation, joint supervision and follow-up exercises.
4. Union Petroleum Minister Dharmendra Pradhan launched Free Trade LPG Scheme which will provide subsidised five-kg cooking gas cylinders to Below Poverty Line (BPL) families and others. The scheme is aimed to make cooking gas easily available to consumers.
5. Public sector banks are to accept rooftop solar installation cost as part of home loan or home improvement proposals of individual customers. Union Finance Ministry has advised the PSBs to encourage home loan/ home improvement loan seekers to install rooftop solar units and include the cost of such equipment in their loan proposals
1. SEBI proposed barring entities or individuals declared as wilful defaulters from raising funds from the capital markets and also from taking control of a listed company. An individual or a company is declared 'wilful defaulter' for deliberate non-payment of the dues despite adequate cash flow and good net worth and for siphoning off funds to the detriment of the defaulting unit.
2. Government has aligned the foreign direct investment policy with the upgraded National Industrial Classification (NIC) Code. The code will classify business activities and help the industry in seeking policy approvals for specific activities.
3. Centre will issue commemorative coins in honour of Tata Group founder Jamsetji Nusserwanji Tata to mark his 175th birth anniversary. Jamsetji Tata is considered as the father of modern industry in India and he will be the first industrialist to be honoured by the Indian government.
4. Supreme Court has made public the in-house procedure to deal with complaints of misconduct or impropriety against the higher judiciary almost 15 years after it was adopted.
5. Union Cabinet approved the largest telecom spectrum auction that is targeted to fetch at least Rs.64,840 crore from its sale. Proceeds from this year’s auction will help government reach its fiscal deficit target of 4.1 per cent of GDP.
CURRENT AFFAIRS 6th Jan., 2015
1. Government has said that it has no desire to reduce its stake in public sector banks at present. The need for dilution of government stakes has arisen due to higher capital requirement for meeting the Basel-III norms by April 2019 and an overall pressure on government finances.
2. Competition Commission of India (CCI) has rejected charges of cartelisation against 12 banks including State Bank of India, Canara Bank, Indian Overseas Bank and IDBI Bank in the agri-gold loan business. The application was filed by Muthoot Mercantile Ltd which had alleged anti-competitive practices were taking place by giving the same interest rate in the agri-gold loan business.
3. Commercial banks are demanding for consortium to be made mandatory for large corporate credit to plug in loopholes in multiple banking arrangements. Multiple banking is an arrangement where a borrower avails of finance independently from more than one bank. Under consortium financing, several banks will finance a borrower with common appraisal, common documentation, joint supervision and follow-up exercises.
4. Union Petroleum Minister Dharmendra Pradhan launched Free Trade LPG Scheme which will provide subsidised five-kg cooking gas cylinders to Below Poverty Line (BPL) families and others. The scheme is aimed to make cooking gas easily available to consumers.
5. Public sector banks are to accept rooftop solar installation cost as part of home loan or home improvement proposals of individual customers. Union Finance Ministry has advised the PSBs to encourage home loan/ home improvement loan seekers to install rooftop solar units and include the cost of such equipment in their loan proposals
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