1. Subhash Kumar is the New Chief Secretary of Uttarakhand
i. Subhash Kumar, an IAS Officer from 1977 batch on 3 May 2013 took became the Chief Secretary of Uttaakhand for second time.
ii. He has succeeded Alok Kumar Jain in the office. His first term in the office was from September 2010 to May 2012.
iii. Before being appointed in the office for the second time, Subhash Kumar was the Chairman of the Uttarakhand Jal Vidyut Nigam Ltd (UJVNL).
2. Bhagat Singh's house, school get Rs 80 mn for restoration
i. Legendary freedom fighter Bhagat Singh's ancestral house, school and his village in Punjab Province in Pakistan will be restored under a Rs 80-million project.
ii. The amount will also be spent for the uplift of Singh's village where clean drinking water is not available and drainage system is in bad shape," Faisalabad District Coordination Officer Noorul Amin Mengal said.
iii. Mengal said that people in Faisalabad "take pride in the fact that Bhagat Singh was the son of their soil" and want the place to be known as "the town of Bhaghat Singh".
iv. The celebrated revolutionary was born September 28, 1907 at Bangay village, Jaranwala Tehsil in the Faisalabad (then Lyallpur) district of the Province.
v. The Punjab government had decided to rechristen the Fawara Chowk to Bhaghat Singh Chowk in October 2012.
vi. The plan, however, was put on hold after the report of renaming drew objections from some quarters
3. Nation pays homage to Ambedkar on Mahaparinirvan Diwas today
i. The nation is paying homage to Dr. B R Ambedkar on his 58th Mahaparinirvan Diwas today. Floral tributes were paid to the father of the Indian Constitution at his portrait in Parliament House complex, New Delhi.
ii. Lakhs of people thronged Chaityabhoomi, the final resting place of Bharat Ratna Dr. B R Ambedkar at Shivaji Park in Dadar, Mumbai on his 56th death anniversary today.
iii. For the first time, unmanned aerial vehicle or drone will be used for crowd management.
iv. Maharashtra Government has started special trains, BEST buses and local trains for the people coming to Chaityabhoomi to pay homage.
4. RBI issues guidelines for early detection of bad loans
i. RBI has released guidelines that will help banks in early recognition of bad loans and prompt steps for recovery or sale of unviable accounts.
ii. In the document called Framework for Revitalizing Distressed Assets in the Economy, RBI has asked banks to form a committee called Joint Lenders forum to formulate a plan for early resolution of stress in an account.
iii. The committee should also consider an option to transfer the promoters' holdings to a security trustee or an escrow arrangement till turnaround of company.
iv. In the new guidelines, which will be effective from April 1, the RBI has said that restructuring of a bad loan should be done in such a manner that shareholders, including promoters, bear the first loss and not the lenders. The guidelines ask banks to make future loans more expensive for borrowers who don't cooperate in resolving existing bad loans.
v. It also offers a liberal regulatory treatment for sale of distressed asset and allows lenders to spread loss on sale of such assets over two years provided loss is fully disclosed.
vi. RBI has said that the refinancing institution can fix a repayment period by taking into account the life cycle of the project and cash flows from the project.
vii. According to RBI, the amount of recast loans touched an all-time high of 4 trillion rupees or 10.2 per cent of the overall advances as of September 2013.
i. Subhash Kumar, an IAS Officer from 1977 batch on 3 May 2013 took became the Chief Secretary of Uttaakhand for second time.
ii. He has succeeded Alok Kumar Jain in the office. His first term in the office was from September 2010 to May 2012.
iii. Before being appointed in the office for the second time, Subhash Kumar was the Chairman of the Uttarakhand Jal Vidyut Nigam Ltd (UJVNL).
2. Bhagat Singh's house, school get Rs 80 mn for restoration
i. Legendary freedom fighter Bhagat Singh's ancestral house, school and his village in Punjab Province in Pakistan will be restored under a Rs 80-million project.
ii. The amount will also be spent for the uplift of Singh's village where clean drinking water is not available and drainage system is in bad shape," Faisalabad District Coordination Officer Noorul Amin Mengal said.
iii. Mengal said that people in Faisalabad "take pride in the fact that Bhagat Singh was the son of their soil" and want the place to be known as "the town of Bhaghat Singh".
iv. The celebrated revolutionary was born September 28, 1907 at Bangay village, Jaranwala Tehsil in the Faisalabad (then Lyallpur) district of the Province.
v. The Punjab government had decided to rechristen the Fawara Chowk to Bhaghat Singh Chowk in October 2012.
vi. The plan, however, was put on hold after the report of renaming drew objections from some quarters
3. Nation pays homage to Ambedkar on Mahaparinirvan Diwas today
i. The nation is paying homage to Dr. B R Ambedkar on his 58th Mahaparinirvan Diwas today. Floral tributes were paid to the father of the Indian Constitution at his portrait in Parliament House complex, New Delhi.
ii. Lakhs of people thronged Chaityabhoomi, the final resting place of Bharat Ratna Dr. B R Ambedkar at Shivaji Park in Dadar, Mumbai on his 56th death anniversary today.
iii. For the first time, unmanned aerial vehicle or drone will be used for crowd management.
iv. Maharashtra Government has started special trains, BEST buses and local trains for the people coming to Chaityabhoomi to pay homage.
4. RBI issues guidelines for early detection of bad loans
i. RBI has released guidelines that will help banks in early recognition of bad loans and prompt steps for recovery or sale of unviable accounts.
ii. In the document called Framework for Revitalizing Distressed Assets in the Economy, RBI has asked banks to form a committee called Joint Lenders forum to formulate a plan for early resolution of stress in an account.
iii. The committee should also consider an option to transfer the promoters' holdings to a security trustee or an escrow arrangement till turnaround of company.
iv. In the new guidelines, which will be effective from April 1, the RBI has said that restructuring of a bad loan should be done in such a manner that shareholders, including promoters, bear the first loss and not the lenders. The guidelines ask banks to make future loans more expensive for borrowers who don't cooperate in resolving existing bad loans.
v. It also offers a liberal regulatory treatment for sale of distressed asset and allows lenders to spread loss on sale of such assets over two years provided loss is fully disclosed.
vi. RBI has said that the refinancing institution can fix a repayment period by taking into account the life cycle of the project and cash flows from the project.
vii. According to RBI, the amount of recast loans touched an all-time high of 4 trillion rupees or 10.2 per cent of the overall advances as of September 2013.
