1. Amitabh Bachchan, Prince Karim Aga Khan get Padma Vibhushan
Bollywood megastar Amitabh Bachchan and Prince Karim Aga Khan were among the eminent personalities awarded the Padma Vibhushan, country’s second highest civilian honour, by President Pranab Mukherjee here today.
Besides them, senior Supreme Court advocate Kottayan K Venugopal and D Veerendra Heggade of the famous Dharmasthala Jain temple in Karnataka were also conferred the Padma Vibhushan.
Renowned Assamese Filmmaker Jahnu Barua and computer scientist Vijay Bhatkar were given the Padma Bhushan, third highest civilian honour, during the civil investiture ceremony held at the majestic Durbar Hall of Rashtrapati Bhavan.
Hockey player Saba Anjum, women cricketer Mithali Raj, economist Bibek Debroy, IT honcho T V Mohandas Pai and musician Ravindra Jain were given Padma Shri.
2. Mayilsamy Annadurai appointed as Director of ISRO Satellite Centre (ISAC)
Mayilsamy Annadurai was appointed as Director of ISRO Satellite Centre (ISAC), Bengaluru.
He took over as Director, ISAC from Dr SK Shivakumar who superannuated on 31 March 2015.
As the Director of ISAC he will oversee development of satellite technology and implementation of satellite systems for scientific, technological and application missions.
Before the present appointment he had been the Programme Director of Indian Remote Sensing Satellites (IRS) and Small Satellite Systems (SSS) at the ISAC since 2011.
About Mayilsamy Annadurai
• Annadurai began his career at ISAC in 1982 as the team leader to design and develop Software Satellite Simulator.
• He was the Project Director of Chandrayaan-1, India’s first lunar probe, in 2009.
• He was also instrumental in completion of India’s first inter-planetary mission Mars Orbiter Mission (MOM) in record time.
• He was conferred with Team Excellence Award from ISRO for his Contribution to Indian Space Programme in 2007 and Rajyotsava Award for Science from Government of Karnataka in 2008.
3. Gujarat won Syed Mushtaq Ali T20 Trophy
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. Wicketkeeper and opening batsman Smit Patel's unbeaten 50 helped Gujarat to win their second Syed Mushtaq Ali Trophy. Gujarat won the trophy in 2012-13 by defeating Punjab in the final by four wickets.
Brief Scores
• Punjab scored 117 for 9 in 20 overs
• Gujarat scored 123 for 8 in 19.5 overs
Syed Mushtaq Ali Trophy
The Syed Mushtaq Ali Trophy is a domestic Twenty20 cricket championship in India. It is organized by Board of Control for Cricket in India, among the teams from Ranji Trophy. It is named after the famous Indian cricketer, Syed Mushtaq Ali.
The inaugural season for the trophy was played in 2008-09.
4. Union Ministry of Commerce and Industry constituted Ajay Shankar committee to simplify clearances
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).
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.
Terms of Reference of the committee
• Study the requirement of various prior permissions with an exhaustive inventory of such permissions
• Examine the possibility of replacing these prior permissions with a pre-existing (proposed) regulatory mechanism
• Identify safeguards to be put in place while replacing the system of prior permission and integrating these safeguards in the proposed regulatory mechanism
• Recommend a framework of the proposed regulatory mechanism
• Draft the proposed legislation
5. Union Government to re-classify industries in a three-coloured scheme based on pollution potential
The Union Ministry of Environment, Forest and Climate Change on 7 April 2015 proposed a colour-coded system to re-classify industries based on pollution potential. As per the proposal, the industries will be re-classified under three-coloured scheme, viz., Red, Orange and Green.
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.
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
Industrial sectors scoring below 15 will be considered as white as they are environment friendly.
New renewal system for industries
Further, it is proposed to scrap the present system of annual renewal of certification for industries and replace it with a scheme that ties in with the colour-coded categories. Thus, as per the new renewal system:
• Industrial sectors falling under Red category will be given consent to operate with the validity period of five years
• Industrial sectors falling under Orange category will be given consent to operate for ten years
• Industrial sectors falling under Green category will be given a onetime consent
6. Prime Minister launched MUDRA Bank under PM Jan Dhan Yojana to fund small entrepreneurs
Prime Minister Narendra Modi on 8 April 2015 launched the Micro Units Development and Refinance Agency Ltd. (MUDRA) Bank to fund the small entrepreneurs.
The Bank was launched under the ambitious Pradhan Mantri Jan Dhan Yojana (PMJDY). The bank will provide credit of up to 10 lakh rupees to small entrepreneurs and act as a regulator for Micro-Finance Institutions (MFIs).
It was set up through a statutory enactment. It would be responsible for developing and refinancing all Micro-finance Institutions (MFIs) which are in the business of lending to micro / small business entities engaged in manufacturing, trading and service activities.
The concept of MUDRA Bank goes beyond credit only approach and offers a credit plus solution for these enterprises spread across the country.
The role of MUDRA Bank
Lay down policy guidelines for micro enterprise financing business
Registration of MFI entities
Accreditation/rating of MFI entities
Lay down responsible financing practices to ward off over indebtedness and ensure proper client protection principles and methods of recovery
Development of standardised set of covenants governing last mile lending to micro enterprises
Promoting right technology solutions for the last mile
Formulating and running a Credit Guarantee Scheme for providing guarantees to the loans/portfolios which are being extended to micro enterprises
Support development & promotional activities in the sector
Creating a good architecture of Last Mile Credit Delivery to micro businesses under the scheme
It would partner with State/Regional level coordinators to provide finance to Last Mile Financiers of small/micro business enterprises.
Products offered by MUDRA Bank
The bank will initially offer products like Shishu, Kishor and Tarun to differentiate the stage of growth and funding needs of the beneficiary entrepreneur.
Shishu will cover loans up to 50000 rupees
Kishor will cover loans above 50000 rupees and up to 5 lakh rupees
Tarun will cover loans above 5 lakh rupees and up to 10 lakh rupees
Background
Union Finance Minister Arun Jaitley had proposed the creation of a Micro Units Development Refinance Agency (MUDRA) Bank, with a corpus of 20000 crore rupees and credit guarantee corpus of 3000 crore rupees during the presentation of Union Budget 2015-16 on 28 February 2015.
7. Snapdeal acquires FreeCharge
Snapdeal, one of India’s largest online marketplaces, today announced that it has acquired FreeCharge, a mobile transactions platform.
With this acquisition, Snapdeal can offer a wide range of products and services, including financial services, mobile recharge and utility payments with a growing user base of over 40 million.
FreeCharge, a mobile commerce platform where users can pay their mobile, DTH and utility payments across most major operators, will continue to function as an independent platform and without any changes in its shopping experience. The companies will collaborate to offer shopping experience to customers across both the platforms offering an even wider range of products and services.
8. Sumit Mazumdar takes over as new CII president
Sumit Mazumder, Chairman and Managing Director, TIL Limited, has been elected as the President of CII for the year 2015-16. He succeeds Mr Ajay Shriram as the new President.
TIL is the manufacturer of India's largest range of material handling equipment in technical collaboration with world leaders - Manitowoc Crane Group, USA; Hyster (a part of NACCO Materials Handling Group, USA); Astec Industries, USA; Paceco Corp, USA (a part of Mitsui Engineering and Shipbuilding, Japan) and Mitsui Miike Machinery Co, Japan (a part of Mitsui Group).
Mazumder is also the Executive Chairman of TIPL (Tractors India Pvt. Ltd.). The Company is a distributor for Caterpillar, USA, in India, Nepal and Bhutan for earthmoving, construction, mining equipment and power systems.
Bollywood megastar Amitabh Bachchan and Prince Karim Aga Khan were among the eminent personalities awarded the Padma Vibhushan, country’s second highest civilian honour, by President Pranab Mukherjee here today.
Besides them, senior Supreme Court advocate Kottayan K Venugopal and D Veerendra Heggade of the famous Dharmasthala Jain temple in Karnataka were also conferred the Padma Vibhushan.Renowned Assamese Filmmaker Jahnu Barua and computer scientist Vijay Bhatkar were given the Padma Bhushan, third highest civilian honour, during the civil investiture ceremony held at the majestic Durbar Hall of Rashtrapati Bhavan.
Hockey player Saba Anjum, women cricketer Mithali Raj, economist Bibek Debroy, IT honcho T V Mohandas Pai and musician Ravindra Jain were given Padma Shri.
2. Mayilsamy Annadurai appointed as Director of ISRO Satellite Centre (ISAC)
Mayilsamy Annadurai was appointed as Director of ISRO Satellite Centre (ISAC), Bengaluru.
He took over as Director, ISAC from Dr SK Shivakumar who superannuated on 31 March 2015.
As the Director of ISAC he will oversee development of satellite technology and implementation of satellite systems for scientific, technological and application missions.
Before the present appointment he had been the Programme Director of Indian Remote Sensing Satellites (IRS) and Small Satellite Systems (SSS) at the ISAC since 2011.
About Mayilsamy Annadurai
• Annadurai began his career at ISAC in 1982 as the team leader to design and develop Software Satellite Simulator.
• He was the Project Director of Chandrayaan-1, India’s first lunar probe, in 2009.
• He was also instrumental in completion of India’s first inter-planetary mission Mars Orbiter Mission (MOM) in record time.
• He was conferred with Team Excellence Award from ISRO for his Contribution to Indian Space Programme in 2007 and Rajyotsava Award for Science from Government of Karnataka in 2008.
3. Gujarat won Syed Mushtaq Ali T20 Trophy
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. Wicketkeeper and opening batsman Smit Patel's unbeaten 50 helped Gujarat to win their second Syed Mushtaq Ali Trophy. Gujarat won the trophy in 2012-13 by defeating Punjab in the final by four wickets.
Brief Scores
• Punjab scored 117 for 9 in 20 overs
• Gujarat scored 123 for 8 in 19.5 overs
Syed Mushtaq Ali Trophy
The Syed Mushtaq Ali Trophy is a domestic Twenty20 cricket championship in India. It is organized by Board of Control for Cricket in India, among the teams from Ranji Trophy. It is named after the famous Indian cricketer, Syed Mushtaq Ali.
The inaugural season for the trophy was played in 2008-09.
4. Union Ministry of Commerce and Industry constituted Ajay Shankar committee to simplify clearances
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).
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.
Terms of Reference of the committee
• Study the requirement of various prior permissions with an exhaustive inventory of such permissions
• Examine the possibility of replacing these prior permissions with a pre-existing (proposed) regulatory mechanism
• Identify safeguards to be put in place while replacing the system of prior permission and integrating these safeguards in the proposed regulatory mechanism
• Recommend a framework of the proposed regulatory mechanism
• Draft the proposed legislation
5. Union Government to re-classify industries in a three-coloured scheme based on pollution potential
The Union Ministry of Environment, Forest and Climate Change on 7 April 2015 proposed a colour-coded system to re-classify industries based on pollution potential. As per the proposal, the industries will be re-classified under three-coloured scheme, viz., Red, Orange and Green.
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.
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
Industrial sectors scoring below 15 will be considered as white as they are environment friendly.
New renewal system for industries
Further, it is proposed to scrap the present system of annual renewal of certification for industries and replace it with a scheme that ties in with the colour-coded categories. Thus, as per the new renewal system:
• Industrial sectors falling under Red category will be given consent to operate with the validity period of five years
• Industrial sectors falling under Orange category will be given consent to operate for ten years
• Industrial sectors falling under Green category will be given a onetime consent
6. Prime Minister launched MUDRA Bank under PM Jan Dhan Yojana to fund small entrepreneurs
Prime Minister Narendra Modi on 8 April 2015 launched the Micro Units Development and Refinance Agency Ltd. (MUDRA) Bank to fund the small entrepreneurs.
The Bank was launched under the ambitious Pradhan Mantri Jan Dhan Yojana (PMJDY). The bank will provide credit of up to 10 lakh rupees to small entrepreneurs and act as a regulator for Micro-Finance Institutions (MFIs).
It was set up through a statutory enactment. It would be responsible for developing and refinancing all Micro-finance Institutions (MFIs) which are in the business of lending to micro / small business entities engaged in manufacturing, trading and service activities.
The concept of MUDRA Bank goes beyond credit only approach and offers a credit plus solution for these enterprises spread across the country.
The role of MUDRA Bank
Lay down policy guidelines for micro enterprise financing business
Registration of MFI entities
Accreditation/rating of MFI entities
Lay down responsible financing practices to ward off over indebtedness and ensure proper client protection principles and methods of recovery
Development of standardised set of covenants governing last mile lending to micro enterprises
Promoting right technology solutions for the last mile
Formulating and running a Credit Guarantee Scheme for providing guarantees to the loans/portfolios which are being extended to micro enterprises
Support development & promotional activities in the sector
Creating a good architecture of Last Mile Credit Delivery to micro businesses under the scheme
It would partner with State/Regional level coordinators to provide finance to Last Mile Financiers of small/micro business enterprises.
Products offered by MUDRA Bank
The bank will initially offer products like Shishu, Kishor and Tarun to differentiate the stage of growth and funding needs of the beneficiary entrepreneur.
Shishu will cover loans up to 50000 rupees
Kishor will cover loans above 50000 rupees and up to 5 lakh rupees
Tarun will cover loans above 5 lakh rupees and up to 10 lakh rupees
Background
Union Finance Minister Arun Jaitley had proposed the creation of a Micro Units Development Refinance Agency (MUDRA) Bank, with a corpus of 20000 crore rupees and credit guarantee corpus of 3000 crore rupees during the presentation of Union Budget 2015-16 on 28 February 2015.
7. Snapdeal acquires FreeCharge
Snapdeal, one of India’s largest online marketplaces, today announced that it has acquired FreeCharge, a mobile transactions platform.
With this acquisition, Snapdeal can offer a wide range of products and services, including financial services, mobile recharge and utility payments with a growing user base of over 40 million.
FreeCharge, a mobile commerce platform where users can pay their mobile, DTH and utility payments across most major operators, will continue to function as an independent platform and without any changes in its shopping experience. The companies will collaborate to offer shopping experience to customers across both the platforms offering an even wider range of products and services.
8. Sumit Mazumdar takes over as new CII president
Sumit Mazumder, Chairman and Managing Director, TIL Limited, has been elected as the President of CII for the year 2015-16. He succeeds Mr Ajay Shriram as the new President.
TIL is the manufacturer of India's largest range of material handling equipment in technical collaboration with world leaders - Manitowoc Crane Group, USA; Hyster (a part of NACCO Materials Handling Group, USA); Astec Industries, USA; Paceco Corp, USA (a part of Mitsui Engineering and Shipbuilding, Japan) and Mitsui Miike Machinery Co, Japan (a part of Mitsui Group).
Mazumder is also the Executive Chairman of TIPL (Tractors India Pvt. Ltd.). The Company is a distributor for Caterpillar, USA, in India, Nepal and Bhutan for earthmoving, construction, mining equipment and power systems.
1. Amitabh Bachchan, Prince Karim Aga Khan get Padma Vibhushan
Bollywood megastar Amitabh Bachchan and Prince Karim Aga Khan were among the eminent personalities awarded the Padma Vibhushan, country’s second highest civilian honour, by President Pranab Mukherjee here today.
Besides them, senior Supreme Court advocate Kottayan K Venugopal and D Veerendra Heggade of the famous Dharmasthala Jain temple in Karnataka were also conferred the Padma Vibhushan.
Renowned Assamese Filmmaker Jahnu Barua and computer scientist Vijay Bhatkar were given the Padma Bhushan, third highest civilian honour, during the civil investiture ceremony held at the majestic Durbar Hall of Rashtrapati Bhavan.
Hockey player Saba Anjum, women cricketer Mithali Raj, economist Bibek Debroy, IT honcho T V Mohandas Pai and musician Ravindra Jain were given Padma Shri.
2. Mayilsamy Annadurai appointed as Director of ISRO Satellite Centre (ISAC)
Mayilsamy Annadurai was appointed as Director of ISRO Satellite Centre (ISAC), Bengaluru.
He took over as Director, ISAC from Dr SK Shivakumar who superannuated on 31 March 2015.
As the Director of ISAC he will oversee development of satellite technology and implementation of satellite systems for scientific, technological and application missions.
Before the present appointment he had been the Programme Director of Indian Remote Sensing Satellites (IRS) and Small Satellite Systems (SSS) at the ISAC since 2011.
About Mayilsamy Annadurai
• Annadurai began his career at ISAC in 1982 as the team leader to design and develop Software Satellite Simulator.
• He was the Project Director of Chandrayaan-1, India’s first lunar probe, in 2009.
• He was also instrumental in completion of India’s first inter-planetary mission Mars Orbiter Mission (MOM) in record time.
• He was conferred with Team Excellence Award from ISRO for his Contribution to Indian Space Programme in 2007 and Rajyotsava Award for Science from Government of Karnataka in 2008.
3. Gujarat won Syed Mushtaq Ali T20 Trophy
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. Wicketkeeper and opening batsman Smit Patel's unbeaten 50 helped Gujarat to win their second Syed Mushtaq Ali Trophy. Gujarat won the trophy in 2012-13 by defeating Punjab in the final by four wickets.
Brief Scores
• Punjab scored 117 for 9 in 20 overs
• Gujarat scored 123 for 8 in 19.5 overs
Syed Mushtaq Ali Trophy
The Syed Mushtaq Ali Trophy is a domestic Twenty20 cricket championship in India. It is organized by Board of Control for Cricket in India, among the teams from Ranji Trophy. It is named after the famous Indian cricketer, Syed Mushtaq Ali.
The inaugural season for the trophy was played in 2008-09.
4. Union Ministry of Commerce and Industry constituted Ajay Shankar committee to simplify clearances
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).
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.
Terms of Reference of the committee
• Study the requirement of various prior permissions with an exhaustive inventory of such permissions
• Examine the possibility of replacing these prior permissions with a pre-existing (proposed) regulatory mechanism
• Identify safeguards to be put in place while replacing the system of prior permission and integrating these safeguards in the proposed regulatory mechanism
• Recommend a framework of the proposed regulatory mechanism
• Draft the proposed legislation
5. Union Government to re-classify industries in a three-coloured scheme based on pollution potential
The Union Ministry of Environment, Forest and Climate Change on 7 April 2015 proposed a colour-coded system to re-classify industries based on pollution potential. As per the proposal, the industries will be re-classified under three-coloured scheme, viz., Red, Orange and Green.
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.
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
Industrial sectors scoring below 15 will be considered as white as they are environment friendly.
New renewal system for industries
Further, it is proposed to scrap the present system of annual renewal of certification for industries and replace it with a scheme that ties in with the colour-coded categories. Thus, as per the new renewal system:
• Industrial sectors falling under Red category will be given consent to operate with the validity period of five years
• Industrial sectors falling under Orange category will be given consent to operate for ten years
• Industrial sectors falling under Green category will be given a onetime consent
6. Prime Minister launched MUDRA Bank under PM Jan Dhan Yojana to fund small entrepreneurs
Prime Minister Narendra Modi on 8 April 2015 launched the Micro Units Development and Refinance Agency Ltd. (MUDRA) Bank to fund the small entrepreneurs.
The Bank was launched under the ambitious Pradhan Mantri Jan Dhan Yojana (PMJDY). The bank will provide credit of up to 10 lakh rupees to small entrepreneurs and act as a regulator for Micro-Finance Institutions (MFIs).
It was set up through a statutory enactment. It would be responsible for developing and refinancing all Micro-finance Institutions (MFIs) which are in the business of lending to micro / small business entities engaged in manufacturing, trading and service activities.
The concept of MUDRA Bank goes beyond credit only approach and offers a credit plus solution for these enterprises spread across the country.
The role of MUDRA Bank
Lay down policy guidelines for micro enterprise financing business
Registration of MFI entities
Accreditation/rating of MFI entities
Lay down responsible financing practices to ward off over indebtedness and ensure proper client protection principles and methods of recovery
Development of standardised set of covenants governing last mile lending to micro enterprises
Promoting right technology solutions for the last mile
Formulating and running a Credit Guarantee Scheme for providing guarantees to the loans/portfolios which are being extended to micro enterprises
Support development & promotional activities in the sector
Creating a good architecture of Last Mile Credit Delivery to micro businesses under the scheme
It would partner with State/Regional level coordinators to provide finance to Last Mile Financiers of small/micro business enterprises.
Products offered by MUDRA Bank
The bank will initially offer products like Shishu, Kishor and Tarun to differentiate the stage of growth and funding needs of the beneficiary entrepreneur.
Shishu will cover loans up to 50000 rupees
Kishor will cover loans above 50000 rupees and up to 5 lakh rupees
Tarun will cover loans above 5 lakh rupees and up to 10 lakh rupees
Background
Union Finance Minister Arun Jaitley had proposed the creation of a Micro Units Development Refinance Agency (MUDRA) Bank, with a corpus of 20000 crore rupees and credit guarantee corpus of 3000 crore rupees during the presentation of Union Budget 2015-16 on 28 February 2015.
7. Snapdeal acquires FreeCharge
Snapdeal, one of India’s largest online marketplaces, today announced that it has acquired FreeCharge, a mobile transactions platform.
With this acquisition, Snapdeal can offer a wide range of products and services, including financial services, mobile recharge and utility payments with a growing user base of over 40 million.
FreeCharge, a mobile commerce platform where users can pay their mobile, DTH and utility payments across most major operators, will continue to function as an independent platform and without any changes in its shopping experience. The companies will collaborate to offer shopping experience to customers across both the platforms offering an even wider range of products and services.
8. Sumit Mazumdar takes over as new CII president
Sumit Mazumder, Chairman and Managing Director, TIL Limited, has been elected as the President of CII for the year 2015-16. He succeeds Mr Ajay Shriram as the new President.
TIL is the manufacturer of India's largest range of material handling equipment in technical collaboration with world leaders - Manitowoc Crane Group, USA; Hyster (a part of NACCO Materials Handling Group, USA); Astec Industries, USA; Paceco Corp, USA (a part of Mitsui Engineering and Shipbuilding, Japan) and Mitsui Miike Machinery Co, Japan (a part of Mitsui Group).
Mazumder is also the Executive Chairman of TIPL (Tractors India Pvt. Ltd.). The Company is a distributor for Caterpillar, USA, in India, Nepal and Bhutan for earthmoving, construction, mining equipment and power systems.
Bollywood megastar Amitabh Bachchan and Prince Karim Aga Khan were among the eminent personalities awarded the Padma Vibhushan, country’s second highest civilian honour, by President Pranab Mukherjee here today.
Besides them, senior Supreme Court advocate Kottayan K Venugopal and D Veerendra Heggade of the famous Dharmasthala Jain temple in Karnataka were also conferred the Padma Vibhushan.Renowned Assamese Filmmaker Jahnu Barua and computer scientist Vijay Bhatkar were given the Padma Bhushan, third highest civilian honour, during the civil investiture ceremony held at the majestic Durbar Hall of Rashtrapati Bhavan.
Hockey player Saba Anjum, women cricketer Mithali Raj, economist Bibek Debroy, IT honcho T V Mohandas Pai and musician Ravindra Jain were given Padma Shri.
2. Mayilsamy Annadurai appointed as Director of ISRO Satellite Centre (ISAC)
Mayilsamy Annadurai was appointed as Director of ISRO Satellite Centre (ISAC), Bengaluru.
He took over as Director, ISAC from Dr SK Shivakumar who superannuated on 31 March 2015.
As the Director of ISAC he will oversee development of satellite technology and implementation of satellite systems for scientific, technological and application missions.
Before the present appointment he had been the Programme Director of Indian Remote Sensing Satellites (IRS) and Small Satellite Systems (SSS) at the ISAC since 2011.
About Mayilsamy Annadurai
• Annadurai began his career at ISAC in 1982 as the team leader to design and develop Software Satellite Simulator.
• He was the Project Director of Chandrayaan-1, India’s first lunar probe, in 2009.
• He was also instrumental in completion of India’s first inter-planetary mission Mars Orbiter Mission (MOM) in record time.
• He was conferred with Team Excellence Award from ISRO for his Contribution to Indian Space Programme in 2007 and Rajyotsava Award for Science from Government of Karnataka in 2008.
3. Gujarat won Syed Mushtaq Ali T20 Trophy
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. Wicketkeeper and opening batsman Smit Patel's unbeaten 50 helped Gujarat to win their second Syed Mushtaq Ali Trophy. Gujarat won the trophy in 2012-13 by defeating Punjab in the final by four wickets.
Brief Scores
• Punjab scored 117 for 9 in 20 overs
• Gujarat scored 123 for 8 in 19.5 overs
Syed Mushtaq Ali Trophy
The Syed Mushtaq Ali Trophy is a domestic Twenty20 cricket championship in India. It is organized by Board of Control for Cricket in India, among the teams from Ranji Trophy. It is named after the famous Indian cricketer, Syed Mushtaq Ali.
The inaugural season for the trophy was played in 2008-09.
4. Union Ministry of Commerce and Industry constituted Ajay Shankar committee to simplify clearances
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).
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.
Terms of Reference of the committee
• Study the requirement of various prior permissions with an exhaustive inventory of such permissions
• Examine the possibility of replacing these prior permissions with a pre-existing (proposed) regulatory mechanism
• Identify safeguards to be put in place while replacing the system of prior permission and integrating these safeguards in the proposed regulatory mechanism
• Recommend a framework of the proposed regulatory mechanism
• Draft the proposed legislation
5. Union Government to re-classify industries in a three-coloured scheme based on pollution potential
The Union Ministry of Environment, Forest and Climate Change on 7 April 2015 proposed a colour-coded system to re-classify industries based on pollution potential. As per the proposal, the industries will be re-classified under three-coloured scheme, viz., Red, Orange and Green.
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.
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
Industrial sectors scoring below 15 will be considered as white as they are environment friendly.
New renewal system for industries
Further, it is proposed to scrap the present system of annual renewal of certification for industries and replace it with a scheme that ties in with the colour-coded categories. Thus, as per the new renewal system:
• Industrial sectors falling under Red category will be given consent to operate with the validity period of five years
• Industrial sectors falling under Orange category will be given consent to operate for ten years
• Industrial sectors falling under Green category will be given a onetime consent
6. Prime Minister launched MUDRA Bank under PM Jan Dhan Yojana to fund small entrepreneurs
Prime Minister Narendra Modi on 8 April 2015 launched the Micro Units Development and Refinance Agency Ltd. (MUDRA) Bank to fund the small entrepreneurs.
The Bank was launched under the ambitious Pradhan Mantri Jan Dhan Yojana (PMJDY). The bank will provide credit of up to 10 lakh rupees to small entrepreneurs and act as a regulator for Micro-Finance Institutions (MFIs).
It was set up through a statutory enactment. It would be responsible for developing and refinancing all Micro-finance Institutions (MFIs) which are in the business of lending to micro / small business entities engaged in manufacturing, trading and service activities.
The concept of MUDRA Bank goes beyond credit only approach and offers a credit plus solution for these enterprises spread across the country.
The role of MUDRA Bank
Lay down policy guidelines for micro enterprise financing business
Registration of MFI entities
Accreditation/rating of MFI entities
Lay down responsible financing practices to ward off over indebtedness and ensure proper client protection principles and methods of recovery
Development of standardised set of covenants governing last mile lending to micro enterprises
Promoting right technology solutions for the last mile
Formulating and running a Credit Guarantee Scheme for providing guarantees to the loans/portfolios which are being extended to micro enterprises
Support development & promotional activities in the sector
Creating a good architecture of Last Mile Credit Delivery to micro businesses under the scheme
It would partner with State/Regional level coordinators to provide finance to Last Mile Financiers of small/micro business enterprises.
Products offered by MUDRA Bank
The bank will initially offer products like Shishu, Kishor and Tarun to differentiate the stage of growth and funding needs of the beneficiary entrepreneur.
Shishu will cover loans up to 50000 rupees
Kishor will cover loans above 50000 rupees and up to 5 lakh rupees
Tarun will cover loans above 5 lakh rupees and up to 10 lakh rupees
Background
Union Finance Minister Arun Jaitley had proposed the creation of a Micro Units Development Refinance Agency (MUDRA) Bank, with a corpus of 20000 crore rupees and credit guarantee corpus of 3000 crore rupees during the presentation of Union Budget 2015-16 on 28 February 2015.
7. Snapdeal acquires FreeCharge
Snapdeal, one of India’s largest online marketplaces, today announced that it has acquired FreeCharge, a mobile transactions platform.
With this acquisition, Snapdeal can offer a wide range of products and services, including financial services, mobile recharge and utility payments with a growing user base of over 40 million.
FreeCharge, a mobile commerce platform where users can pay their mobile, DTH and utility payments across most major operators, will continue to function as an independent platform and without any changes in its shopping experience. The companies will collaborate to offer shopping experience to customers across both the platforms offering an even wider range of products and services.
8. Sumit Mazumdar takes over as new CII president
Sumit Mazumder, Chairman and Managing Director, TIL Limited, has been elected as the President of CII for the year 2015-16. He succeeds Mr Ajay Shriram as the new President.
TIL is the manufacturer of India's largest range of material handling equipment in technical collaboration with world leaders - Manitowoc Crane Group, USA; Hyster (a part of NACCO Materials Handling Group, USA); Astec Industries, USA; Paceco Corp, USA (a part of Mitsui Engineering and Shipbuilding, Japan) and Mitsui Miike Machinery Co, Japan (a part of Mitsui Group).
Mazumder is also the Executive Chairman of TIPL (Tractors India Pvt. Ltd.). The Company is a distributor for Caterpillar, USA, in India, Nepal and Bhutan for earthmoving, construction, mining equipment and power systems.
in que. no 10 i think ans. will b 4
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