1. Floor capital for small finance, payments banks set at Rs. 100 cr
The Reserve Bank of India (RBI), on Thursday, issued final guidelines
for small finance banks and payments banks, paving the way for mobile firms and supermarket chains, among others, to enter the banking arena to cater to individuals and small businesses.
The minimum paid-up capital for these banks will be Rs.100 crore each.
The foreign shareholding will be in line with the foreign direct investment (FDI) policy for private sector banks.
Applications will be accepted till the close of business as on January 16, 2015.
According to the RBI, the objective of setting up of small finance banks will be to further financial inclusion by provision of savings vehicles and supply of credit to small business units, small and marginal farmers, micro and small industries and other unorganised sector entities, through high technology-low cost operations.
Individuals/professionals with 10 years of experience in banking and finance and companies and societies will be eligible to set up small finance banks.
Existing non-banking finance companies (NBFCs), micro finance institutions (MFIs), and local area banks (LABs) can also opt for conversion into small finance banks.
The small finance banks will primarily undertake basic banking activities of acceptance of deposits and lending to un-served and underserved sections, including small business units, small and marginal farmers, micro and small industries and unorganised sector entities.
However, RBI said, “There will not be any restriction in the area of operations of small finance banks.”
The small finance banks will be subject to all prudential norms and regulations of RBI as applicable to existing commercial banks, including requirement of maintenance of Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). “No forbearance will be provided for complying with the statutory provisions,” the apex bank said.
The small finance banks will be required to extend 75 per cent of its adjusted net bank credit (ANBC) to the sectors eligible for classification as priority sector lending (PSL) by the RBI.
“At least 50 per cent of its loan portfolio should constitute loans and advances of up to Rs. 25 lakh.”
RBI also said that if the small finance bank aspired to transit into a universal bank, such transition would not be automatic, but would be subject to fulfilling minimum paid-up capital / net worth requirement as applicable to universal banks, among others. The RBI said that the objectives of setting up of payments banks will be to further financial inclusion by providing small savings accounts and payments/remittance services to migrant labour workforce, low income households, small businesses, other unorganised sector entities and other users.
Existing non-bank pre-paid payment instrument (PPI) issuers and other entities such as individuals / professionals, non-banking finance companies (NBFCs), corporate business correspondents(BCs), mobile telephone companies, super-market chains, companies, real sector cooperatives and public sector entities can apply to set up payments banks.
A promoter/promoter group can have a joint venture with an existing scheduled commercial bank to set up a payments banks.
However, scheduled commercial bank can take equity stake in a payments bank to the extent permitted under Section 19 (2) of the Banking Regulation Act, 1949, said RBI.
On acceptance of demand deposits, the RBI said that payments bank would initially be restricted to holding a maximum balance of Rs. 100,000 per individual customer. Payments banks, however, cannot issue credit cards. These banks would be allowed to distribute non-risk sharing simple financial products like mutual fund unitsdertake lending activities,” said RBI.
It also stated that apart from amounts maintained as Cash Reserve Ratio (CRR), it will be required to invest minimum 75 per cent of its “demand deposit balances” in Statutory Liquidity Ratio (SLR).
2. Corp Bank offers unlimited transactions at ATMs
Corporation Bank has decided to offer unlimited number of free transactions in the bank’s ATMs for its savings bank customers.
A press release by the bank said here on Thursday that as per the revised guidelines of Reserve Bank of India, banks have an option to cap the number of free transactions (financial and non-financial) for savings bank account holders in own bank ATMs across India at five transactions per month.
However, Corporation Bank has decided to offer free transactions to all its savings bank account cardholders for using the bank’s ATMs, irrespective of the number of transactions, it added.
3. Govt. aims at 10 crore bank accounts
Of the 7.64 crore bank accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) so far, 5.74 crore have no deposits. A total of Rs. 6,015 crore is held in the remaining 1.9 crore accounts. Thus, the average deposit in each of these is Rs. 3165.78.
Finance Minister Arun Jaitley has raised the target for opening of PMJDY bank accounts by the next Republic Day to 10 crore, according to an official release issued here on Thursday.
The new target will amount to opening of one account for each household in the country. The target was originally set at 7.5 crore bank accounts.
The Finance Minister also asked the officers that Aadhar card numbers may be seeded with bank accounts so that the subsidies payments can be made into them through the Direct Benefit Transfer scheme, the release said.
4. Book titled Your Dreams Are Mine Now: She Showed him What Love was released
The book titled Your Dreams Are Mine Now: She Showed him What Love was authored by Ravinder Singh was released on 20 November 2014.
The novel Your Dreams are Mine Now is a powerful and poignant love story that explores the romantic relationship between Rupali and Arun. They are complete opposites and have nothing in common when it comes to their interests and priorities in life.
5. Anoop Mishra appointed as new Secretary General of Lok Sabha
Former Uttar Pradesh chief secretary Anoop Mishra was on 26 November 2014 appointed as new Secretary General of the Lok Sabha. He was appointed by Lok Sabha Speaker Sumitra Mahajan.
He will hold the rank and status of Cabinet Secretary with effect from 1 December 2014 up to 30 November 2016 or until further orders.
6. Historian Tapan Raychaudhuri died
Tapan Raychaudhuri, a distinguished historian of modern India’s economic and social history, died on 26 November 2014 at his home in Oxford, England. He was 88.
7. Namsai became the 18th district of Arunachal Pradesh
Namsai on 25 November 2014 officially became the 18th district of Arunachal Pradesh. The Chief Minister of Arunachal Pradesh Nabam Tuki made the declaration.
The Chief Minister exhorted the officials to prepare a master plan for the new district and the state government would extend all possible help.
The State Legislative Assembly passed the District re-organisation Bill on 20 March 2013 for creation of Namsai district and notification was issued on 15 July 2013. The formal announcement was made during the 68th Independence Day celebration on 15th August 2014.
8. SBI Mutual Fund announced to launch Shariah Equity Fund
State Bank of India (SBI) Mutual Fund (MF) announced on 26 November 2014 that it will launch Shariah Equity Fund on 1 December 2014. The fund is aimed at attracting investments from Muslim populations of India.
The fund has been approved by the All India Muslim Personal Law Board, an authority that oversees the observance of Muslim civil laws in India.
With this, SBI MF will become the fourth fund house in India to have an Islamic equity fund after Goldman Sachs MF, Taurus MF and Tata MF.
9. Delhi & District Cricket Association re-appointed Yashpal Sharma as chairman
Delhi & District Cricket Association on 26 November 2014 re-appointed Yashpal Sharma as Chairman. Yashpal Sharma had resigned from his post in the second week of November 2014 due to some personal issues.
His resignation coincided with Delhi’s dismal performance in the recently concluded Vijaya Hazare one-day tournament.
The Reserve Bank of India (RBI), on Thursday, issued final guidelines
for small finance banks and payments banks, paving the way for mobile firms and supermarket chains, among others, to enter the banking arena to cater to individuals and small businesses.
The minimum paid-up capital for these banks will be Rs.100 crore each.
The foreign shareholding will be in line with the foreign direct investment (FDI) policy for private sector banks.Applications will be accepted till the close of business as on January 16, 2015.
According to the RBI, the objective of setting up of small finance banks will be to further financial inclusion by provision of savings vehicles and supply of credit to small business units, small and marginal farmers, micro and small industries and other unorganised sector entities, through high technology-low cost operations.
Individuals/professionals with 10 years of experience in banking and finance and companies and societies will be eligible to set up small finance banks.
Existing non-banking finance companies (NBFCs), micro finance institutions (MFIs), and local area banks (LABs) can also opt for conversion into small finance banks.
The small finance banks will primarily undertake basic banking activities of acceptance of deposits and lending to un-served and underserved sections, including small business units, small and marginal farmers, micro and small industries and unorganised sector entities.
However, RBI said, “There will not be any restriction in the area of operations of small finance banks.”
The small finance banks will be subject to all prudential norms and regulations of RBI as applicable to existing commercial banks, including requirement of maintenance of Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). “No forbearance will be provided for complying with the statutory provisions,” the apex bank said.
The small finance banks will be required to extend 75 per cent of its adjusted net bank credit (ANBC) to the sectors eligible for classification as priority sector lending (PSL) by the RBI.
“At least 50 per cent of its loan portfolio should constitute loans and advances of up to Rs. 25 lakh.”
RBI also said that if the small finance bank aspired to transit into a universal bank, such transition would not be automatic, but would be subject to fulfilling minimum paid-up capital / net worth requirement as applicable to universal banks, among others. The RBI said that the objectives of setting up of payments banks will be to further financial inclusion by providing small savings accounts and payments/remittance services to migrant labour workforce, low income households, small businesses, other unorganised sector entities and other users.
Existing non-bank pre-paid payment instrument (PPI) issuers and other entities such as individuals / professionals, non-banking finance companies (NBFCs), corporate business correspondents(BCs), mobile telephone companies, super-market chains, companies, real sector cooperatives and public sector entities can apply to set up payments banks.
A promoter/promoter group can have a joint venture with an existing scheduled commercial bank to set up a payments banks.
However, scheduled commercial bank can take equity stake in a payments bank to the extent permitted under Section 19 (2) of the Banking Regulation Act, 1949, said RBI.
On acceptance of demand deposits, the RBI said that payments bank would initially be restricted to holding a maximum balance of Rs. 100,000 per individual customer. Payments banks, however, cannot issue credit cards. These banks would be allowed to distribute non-risk sharing simple financial products like mutual fund unitsdertake lending activities,” said RBI.
It also stated that apart from amounts maintained as Cash Reserve Ratio (CRR), it will be required to invest minimum 75 per cent of its “demand deposit balances” in Statutory Liquidity Ratio (SLR).
2. Corp Bank offers unlimited transactions at ATMs
Corporation Bank has decided to offer unlimited number of free transactions in the bank’s ATMs for its savings bank customers.
A press release by the bank said here on Thursday that as per the revised guidelines of Reserve Bank of India, banks have an option to cap the number of free transactions (financial and non-financial) for savings bank account holders in own bank ATMs across India at five transactions per month.
However, Corporation Bank has decided to offer free transactions to all its savings bank account cardholders for using the bank’s ATMs, irrespective of the number of transactions, it added.
3. Govt. aims at 10 crore bank accounts
Of the 7.64 crore bank accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) so far, 5.74 crore have no deposits. A total of Rs. 6,015 crore is held in the remaining 1.9 crore accounts. Thus, the average deposit in each of these is Rs. 3165.78.
Finance Minister Arun Jaitley has raised the target for opening of PMJDY bank accounts by the next Republic Day to 10 crore, according to an official release issued here on Thursday.
The new target will amount to opening of one account for each household in the country. The target was originally set at 7.5 crore bank accounts.
The Finance Minister also asked the officers that Aadhar card numbers may be seeded with bank accounts so that the subsidies payments can be made into them through the Direct Benefit Transfer scheme, the release said.
4. Book titled Your Dreams Are Mine Now: She Showed him What Love was released
The book titled Your Dreams Are Mine Now: She Showed him What Love was authored by Ravinder Singh was released on 20 November 2014.
The novel Your Dreams are Mine Now is a powerful and poignant love story that explores the romantic relationship between Rupali and Arun. They are complete opposites and have nothing in common when it comes to their interests and priorities in life.
5. Anoop Mishra appointed as new Secretary General of Lok Sabha
Former Uttar Pradesh chief secretary Anoop Mishra was on 26 November 2014 appointed as new Secretary General of the Lok Sabha. He was appointed by Lok Sabha Speaker Sumitra Mahajan.
He will hold the rank and status of Cabinet Secretary with effect from 1 December 2014 up to 30 November 2016 or until further orders.
6. Historian Tapan Raychaudhuri died
Tapan Raychaudhuri, a distinguished historian of modern India’s economic and social history, died on 26 November 2014 at his home in Oxford, England. He was 88.
7. Namsai became the 18th district of Arunachal Pradesh
Namsai on 25 November 2014 officially became the 18th district of Arunachal Pradesh. The Chief Minister of Arunachal Pradesh Nabam Tuki made the declaration.
The Chief Minister exhorted the officials to prepare a master plan for the new district and the state government would extend all possible help.
The State Legislative Assembly passed the District re-organisation Bill on 20 March 2013 for creation of Namsai district and notification was issued on 15 July 2013. The formal announcement was made during the 68th Independence Day celebration on 15th August 2014.
8. SBI Mutual Fund announced to launch Shariah Equity Fund
State Bank of India (SBI) Mutual Fund (MF) announced on 26 November 2014 that it will launch Shariah Equity Fund on 1 December 2014. The fund is aimed at attracting investments from Muslim populations of India.
The fund has been approved by the All India Muslim Personal Law Board, an authority that oversees the observance of Muslim civil laws in India.
With this, SBI MF will become the fourth fund house in India to have an Islamic equity fund after Goldman Sachs MF, Taurus MF and Tata MF.
9. Delhi & District Cricket Association re-appointed Yashpal Sharma as chairman
Delhi & District Cricket Association on 26 November 2014 re-appointed Yashpal Sharma as Chairman. Yashpal Sharma had resigned from his post in the second week of November 2014 due to some personal issues.
His resignation coincided with Delhi’s dismal performance in the recently concluded Vijaya Hazare one-day tournament.
1. Floor capital for small finance, payments banks set at Rs. 100 cr
The Reserve Bank of India (RBI), on Thursday, issued final guidelines
for small finance banks and payments banks, paving the way for mobile firms and supermarket chains, among others, to enter the banking arena to cater to individuals and small businesses.
The minimum paid-up capital for these banks will be Rs.100 crore each.
The foreign shareholding will be in line with the foreign direct investment (FDI) policy for private sector banks.
Applications will be accepted till the close of business as on January 16, 2015.
According to the RBI, the objective of setting up of small finance banks will be to further financial inclusion by provision of savings vehicles and supply of credit to small business units, small and marginal farmers, micro and small industries and other unorganised sector entities, through high technology-low cost operations.
Individuals/professionals with 10 years of experience in banking and finance and companies and societies will be eligible to set up small finance banks.
Existing non-banking finance companies (NBFCs), micro finance institutions (MFIs), and local area banks (LABs) can also opt for conversion into small finance banks.
The small finance banks will primarily undertake basic banking activities of acceptance of deposits and lending to un-served and underserved sections, including small business units, small and marginal farmers, micro and small industries and unorganised sector entities.
However, RBI said, “There will not be any restriction in the area of operations of small finance banks.”
The small finance banks will be subject to all prudential norms and regulations of RBI as applicable to existing commercial banks, including requirement of maintenance of Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). “No forbearance will be provided for complying with the statutory provisions,” the apex bank said.
The small finance banks will be required to extend 75 per cent of its adjusted net bank credit (ANBC) to the sectors eligible for classification as priority sector lending (PSL) by the RBI.
“At least 50 per cent of its loan portfolio should constitute loans and advances of up to Rs. 25 lakh.”
RBI also said that if the small finance bank aspired to transit into a universal bank, such transition would not be automatic, but would be subject to fulfilling minimum paid-up capital / net worth requirement as applicable to universal banks, among others. The RBI said that the objectives of setting up of payments banks will be to further financial inclusion by providing small savings accounts and payments/remittance services to migrant labour workforce, low income households, small businesses, other unorganised sector entities and other users.
Existing non-bank pre-paid payment instrument (PPI) issuers and other entities such as individuals / professionals, non-banking finance companies (NBFCs), corporate business correspondents(BCs), mobile telephone companies, super-market chains, companies, real sector cooperatives and public sector entities can apply to set up payments banks.
A promoter/promoter group can have a joint venture with an existing scheduled commercial bank to set up a payments banks.
However, scheduled commercial bank can take equity stake in a payments bank to the extent permitted under Section 19 (2) of the Banking Regulation Act, 1949, said RBI.
On acceptance of demand deposits, the RBI said that payments bank would initially be restricted to holding a maximum balance of Rs. 100,000 per individual customer. Payments banks, however, cannot issue credit cards. These banks would be allowed to distribute non-risk sharing simple financial products like mutual fund unitsdertake lending activities,” said RBI.
It also stated that apart from amounts maintained as Cash Reserve Ratio (CRR), it will be required to invest minimum 75 per cent of its “demand deposit balances” in Statutory Liquidity Ratio (SLR).
2. Corp Bank offers unlimited transactions at ATMs
Corporation Bank has decided to offer unlimited number of free transactions in the bank’s ATMs for its savings bank customers.
A press release by the bank said here on Thursday that as per the revised guidelines of Reserve Bank of India, banks have an option to cap the number of free transactions (financial and non-financial) for savings bank account holders in own bank ATMs across India at five transactions per month.
However, Corporation Bank has decided to offer free transactions to all its savings bank account cardholders for using the bank’s ATMs, irrespective of the number of transactions, it added.
3. Govt. aims at 10 crore bank accounts
Of the 7.64 crore bank accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) so far, 5.74 crore have no deposits. A total of Rs. 6,015 crore is held in the remaining 1.9 crore accounts. Thus, the average deposit in each of these is Rs. 3165.78.
Finance Minister Arun Jaitley has raised the target for opening of PMJDY bank accounts by the next Republic Day to 10 crore, according to an official release issued here on Thursday.
The new target will amount to opening of one account for each household in the country. The target was originally set at 7.5 crore bank accounts.
The Finance Minister also asked the officers that Aadhar card numbers may be seeded with bank accounts so that the subsidies payments can be made into them through the Direct Benefit Transfer scheme, the release said.
4. Book titled Your Dreams Are Mine Now: She Showed him What Love was released
The book titled Your Dreams Are Mine Now: She Showed him What Love was authored by Ravinder Singh was released on 20 November 2014.
The novel Your Dreams are Mine Now is a powerful and poignant love story that explores the romantic relationship between Rupali and Arun. They are complete opposites and have nothing in common when it comes to their interests and priorities in life.
5. Anoop Mishra appointed as new Secretary General of Lok Sabha
Former Uttar Pradesh chief secretary Anoop Mishra was on 26 November 2014 appointed as new Secretary General of the Lok Sabha. He was appointed by Lok Sabha Speaker Sumitra Mahajan.
He will hold the rank and status of Cabinet Secretary with effect from 1 December 2014 up to 30 November 2016 or until further orders.
6. Historian Tapan Raychaudhuri died
Tapan Raychaudhuri, a distinguished historian of modern India’s economic and social history, died on 26 November 2014 at his home in Oxford, England. He was 88.
7. Namsai became the 18th district of Arunachal Pradesh
Namsai on 25 November 2014 officially became the 18th district of Arunachal Pradesh. The Chief Minister of Arunachal Pradesh Nabam Tuki made the declaration.
The Chief Minister exhorted the officials to prepare a master plan for the new district and the state government would extend all possible help.
The State Legislative Assembly passed the District re-organisation Bill on 20 March 2013 for creation of Namsai district and notification was issued on 15 July 2013. The formal announcement was made during the 68th Independence Day celebration on 15th August 2014.
8. SBI Mutual Fund announced to launch Shariah Equity Fund
State Bank of India (SBI) Mutual Fund (MF) announced on 26 November 2014 that it will launch Shariah Equity Fund on 1 December 2014. The fund is aimed at attracting investments from Muslim populations of India.
The fund has been approved by the All India Muslim Personal Law Board, an authority that oversees the observance of Muslim civil laws in India.
With this, SBI MF will become the fourth fund house in India to have an Islamic equity fund after Goldman Sachs MF, Taurus MF and Tata MF.
9. Delhi & District Cricket Association re-appointed Yashpal Sharma as chairman
Delhi & District Cricket Association on 26 November 2014 re-appointed Yashpal Sharma as Chairman. Yashpal Sharma had resigned from his post in the second week of November 2014 due to some personal issues.
His resignation coincided with Delhi’s dismal performance in the recently concluded Vijaya Hazare one-day tournament.
The Reserve Bank of India (RBI), on Thursday, issued final guidelines
for small finance banks and payments banks, paving the way for mobile firms and supermarket chains, among others, to enter the banking arena to cater to individuals and small businesses.
The minimum paid-up capital for these banks will be Rs.100 crore each.
The foreign shareholding will be in line with the foreign direct investment (FDI) policy for private sector banks.Applications will be accepted till the close of business as on January 16, 2015.
According to the RBI, the objective of setting up of small finance banks will be to further financial inclusion by provision of savings vehicles and supply of credit to small business units, small and marginal farmers, micro and small industries and other unorganised sector entities, through high technology-low cost operations.
Individuals/professionals with 10 years of experience in banking and finance and companies and societies will be eligible to set up small finance banks.
Existing non-banking finance companies (NBFCs), micro finance institutions (MFIs), and local area banks (LABs) can also opt for conversion into small finance banks.
The small finance banks will primarily undertake basic banking activities of acceptance of deposits and lending to un-served and underserved sections, including small business units, small and marginal farmers, micro and small industries and unorganised sector entities.
However, RBI said, “There will not be any restriction in the area of operations of small finance banks.”
The small finance banks will be subject to all prudential norms and regulations of RBI as applicable to existing commercial banks, including requirement of maintenance of Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). “No forbearance will be provided for complying with the statutory provisions,” the apex bank said.
The small finance banks will be required to extend 75 per cent of its adjusted net bank credit (ANBC) to the sectors eligible for classification as priority sector lending (PSL) by the RBI.
“At least 50 per cent of its loan portfolio should constitute loans and advances of up to Rs. 25 lakh.”
RBI also said that if the small finance bank aspired to transit into a universal bank, such transition would not be automatic, but would be subject to fulfilling minimum paid-up capital / net worth requirement as applicable to universal banks, among others. The RBI said that the objectives of setting up of payments banks will be to further financial inclusion by providing small savings accounts and payments/remittance services to migrant labour workforce, low income households, small businesses, other unorganised sector entities and other users.
Existing non-bank pre-paid payment instrument (PPI) issuers and other entities such as individuals / professionals, non-banking finance companies (NBFCs), corporate business correspondents(BCs), mobile telephone companies, super-market chains, companies, real sector cooperatives and public sector entities can apply to set up payments banks.
A promoter/promoter group can have a joint venture with an existing scheduled commercial bank to set up a payments banks.
However, scheduled commercial bank can take equity stake in a payments bank to the extent permitted under Section 19 (2) of the Banking Regulation Act, 1949, said RBI.
On acceptance of demand deposits, the RBI said that payments bank would initially be restricted to holding a maximum balance of Rs. 100,000 per individual customer. Payments banks, however, cannot issue credit cards. These banks would be allowed to distribute non-risk sharing simple financial products like mutual fund unitsdertake lending activities,” said RBI.
It also stated that apart from amounts maintained as Cash Reserve Ratio (CRR), it will be required to invest minimum 75 per cent of its “demand deposit balances” in Statutory Liquidity Ratio (SLR).
2. Corp Bank offers unlimited transactions at ATMs
Corporation Bank has decided to offer unlimited number of free transactions in the bank’s ATMs for its savings bank customers.
A press release by the bank said here on Thursday that as per the revised guidelines of Reserve Bank of India, banks have an option to cap the number of free transactions (financial and non-financial) for savings bank account holders in own bank ATMs across India at five transactions per month.
However, Corporation Bank has decided to offer free transactions to all its savings bank account cardholders for using the bank’s ATMs, irrespective of the number of transactions, it added.
3. Govt. aims at 10 crore bank accounts
Of the 7.64 crore bank accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) so far, 5.74 crore have no deposits. A total of Rs. 6,015 crore is held in the remaining 1.9 crore accounts. Thus, the average deposit in each of these is Rs. 3165.78.
Finance Minister Arun Jaitley has raised the target for opening of PMJDY bank accounts by the next Republic Day to 10 crore, according to an official release issued here on Thursday.
The new target will amount to opening of one account for each household in the country. The target was originally set at 7.5 crore bank accounts.
The Finance Minister also asked the officers that Aadhar card numbers may be seeded with bank accounts so that the subsidies payments can be made into them through the Direct Benefit Transfer scheme, the release said.
4. Book titled Your Dreams Are Mine Now: She Showed him What Love was released
The book titled Your Dreams Are Mine Now: She Showed him What Love was authored by Ravinder Singh was released on 20 November 2014.
The novel Your Dreams are Mine Now is a powerful and poignant love story that explores the romantic relationship between Rupali and Arun. They are complete opposites and have nothing in common when it comes to their interests and priorities in life.
5. Anoop Mishra appointed as new Secretary General of Lok Sabha
Former Uttar Pradesh chief secretary Anoop Mishra was on 26 November 2014 appointed as new Secretary General of the Lok Sabha. He was appointed by Lok Sabha Speaker Sumitra Mahajan.
He will hold the rank and status of Cabinet Secretary with effect from 1 December 2014 up to 30 November 2016 or until further orders.
6. Historian Tapan Raychaudhuri died
Tapan Raychaudhuri, a distinguished historian of modern India’s economic and social history, died on 26 November 2014 at his home in Oxford, England. He was 88.
7. Namsai became the 18th district of Arunachal Pradesh
Namsai on 25 November 2014 officially became the 18th district of Arunachal Pradesh. The Chief Minister of Arunachal Pradesh Nabam Tuki made the declaration.
The Chief Minister exhorted the officials to prepare a master plan for the new district and the state government would extend all possible help.
The State Legislative Assembly passed the District re-organisation Bill on 20 March 2013 for creation of Namsai district and notification was issued on 15 July 2013. The formal announcement was made during the 68th Independence Day celebration on 15th August 2014.
8. SBI Mutual Fund announced to launch Shariah Equity Fund
State Bank of India (SBI) Mutual Fund (MF) announced on 26 November 2014 that it will launch Shariah Equity Fund on 1 December 2014. The fund is aimed at attracting investments from Muslim populations of India.
The fund has been approved by the All India Muslim Personal Law Board, an authority that oversees the observance of Muslim civil laws in India.
With this, SBI MF will become the fourth fund house in India to have an Islamic equity fund after Goldman Sachs MF, Taurus MF and Tata MF.
9. Delhi & District Cricket Association re-appointed Yashpal Sharma as chairman
Delhi & District Cricket Association on 26 November 2014 re-appointed Yashpal Sharma as Chairman. Yashpal Sharma had resigned from his post in the second week of November 2014 due to some personal issues.
His resignation coincided with Delhi’s dismal performance in the recently concluded Vijaya Hazare one-day tournament.
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