Daily GK Potion – 23rd December 2014
- RBI licenses Ford Credit India to run NBFC ops
- The Reserve Bank of India granted licence to Ford Credit India to start its operations as a non-banking financial company (NBFC).
- The company said it plans to begin dealer wholesale inventory financing in the first quarter of the next fiscal and consumer retail financing later in 2015.
- Gujarat to host Pravasi Bharatiya Divas
- The 13th edition of the Pravasi Bharatiya Divas (PBD), an event which celebrates the achievements of Indians living abroad, will be held in Gujarat from January 7-9.
- Gujarat has been chosen as the partner State as 2015 happens to be the 100th year of Mahatma Gandhi’s return to India from South Africa.
- The event will be inaugurated by Prime Minister Narendra Modi on January 8, and President Pranab Mukherjee will honour prominent Pravasis on January 9.
- Singer Joe Cocker dies aged 70 after cancer battle
- RBI modifies definition of non-cooperative borrower
- The Reserve Bank of India issued a new set of norms defining non-cooperative borrowers.
- There would be disincentives for lenders in the form of higher provisions if they give additional loans to such entities.
- The framework included setting up a joint lenders’ forum for specific accounts even before these slip into the sub-standard category and narrowing sources of funds for such borrowers by classifying them as non-cooperative borrowers if they are found to be “deliberately stonewalling legitimate efforts of lenders to recover their dues”.
- BJP-AJSU alliance wins absolute majority in Jharkhand
- The BJP has won 37 seats, while AJSU got 5. Together they reached the magical 42 mark in the 81 member Jharkhand Assembly.
- The new Chief Minister is likely to be Raghubar Das, the vice-president of the state party.
- Yes Bank gets $200 million from Asian Development Bank
- Private sector lender Yes has raised $200 million in an unsecured loan from Asian Development Bank for on lending to small farm households and rural womens’ self help groups (SHG).