1. Cabinet expansion: 21 new ministers join NDA govt, i. Prime Minister Narendra Modi expanded his team on Sunday by appointing 21 new ministers, four of them in the Cabinet and three others as ministers of state with independent charge. ii. Manohar Parrikar is the new Defence Minister and Suresh Prabhu will head the Railway Ministry Minister in the expansion- cum-reshuffle of the Narendra Modi ministry after 21 new Ministers were sworn-in on Sunday. iii. Parrikar, who quit as Goa Chief Minister yesterday to join the Union Cabinet, takes over the charge from Finance Minister Arun Jaitley who held the Defence portfolio as an additional charge. iv. Interestingly, Jaitley has been given the additional charge of Information and Broadcasting Ministry. New Minister – 1. Manohar Parrikar – Defence Minister 2. Suresh Prabhu - Railway Minister 3. D V Sadananda Gowda - Law and Justice Minister 4. Ravi Shankar Prasad: Communications and Information Technology 5. Jagat Prakash Nadda: Health & Family Welfare 6. Birender Singh - Minister for Rural Development, Panchayati Raj and Drinking Water and Sanitation 7. Dr. Harsh Vardhan: Science and Technology, Earth Sciences 2. World Bank offers financial help for MSMEs in UP i. The World Bank today said it will offer financial help to create new infrastructure for Micro, Small and Medium Enterprises ( MSMEs) and improve the condition of existing ones in Uttar Pradesh. ii. The offer was made to Sanjiv Saran, principal secretary, industries and infrastructure development, by Lead Urban Specialist of World Bank Barjor Mehta. iii. A three-member team of World Bank, including Mehta and Senior Country Economist at World Bank . iv. The report has been prepared by consulting agency CRISIL Limited under the aegis of World Bank for Agra-Firozabad sub- region, Kanpur-Lucknow-Unnao-Auraiya sub-region and Allahabad-Varanasi sub- region. v. The World Bank has offered two options for funding, namely - Development Policy Loan (DPL) and Programme-for -Results instruments. 3. India Ratings lowers growth forecast to 5.6 pc i. Domestic ratings agency India Ratings today marginally revised down its economic growth estimate for 2014-15 fiscal to 5.6 per cent citing poor industrial performance, and warned that the government will slip on the fiscal deficit front. ii. The agency pegged the final fiscal deficit print at 4.2 per cent, against the budget promise of 4.1 per cent, despite the 10 per cent spending cut announced last week. In the first six months of the fiscal, fiscal deficit touched 83 per cent of the tar .. 4. Origo Commodities, NABARD tie up for warehouse receipt financing i. Collateral management firm Origo Commodities today said it has tied up with NABARD to provide warehouse receipt financing to farmers in Andhra Pradesh and Telangana. ii. Under this facility, farmers are allowed to deposit the crop at a warehouse closest to their farms and obtain pledge financing from banks to the extent of 70-75 per cent of the value of the commodity. iii. The joint initiative will enable farmers to use the warehousing infrastructure of Primary Agriculture Co-opera .. iv. This memorandum of understanding (MoU) is going to help farmers to a great extent by realising the right price by offering them options to sell their produce at the right time, NABARD Chief General Manager at Andhra Pradesh and Telangana Regional Office, Jiji Mammen said in a statement. 5. Union Bank to charge own customers beyond 8 ATM transactions i. After private banks – HDFC Bank and Axis bank – decided to charge own customers for more than five transactions at their ATMs, public sector lender Union Bank of India has also joined the bandwagon. ii. The Mumbai-based bank will charge own customers for more than eight transactions per month at its ATMs and more than five at other banks ATMs. It will be charging Rs 15 per ( excluding tax) from November 15, 2014. iii. Many public sector banks are still in wait and watch mode. They would like to see
Posted on: Mon, 10 Nov 2014 14:47:00 +0000
Trending Topics
Recently Viewed Topics
© 2015