RBI allows regional rural banks to grant gold loans up to Rs2 lakh

Reserve Bank of India raised the ceiling of gold loans given by regional rural banks (RRB)

Question: Recently Reserve Bank of India has raised the ceiling of gold loans given by regional rural banks (RRB) to-
(a) 1 Lakhs
(b) 2 Lakhs
(c) 2.50 Lakhs
(d) 3 Lakhs
Ans: (b)
Related facts:

  • On 16 February 2017; Reserve Bank of India has raised the ceiling of gold loans given by regional rural banks (RRB).
  • It has been increased to Rs 2 lakh from Rs 1 lakh, expanding the access to credit for farmers and artisans willing to pledge gold as collateral.
  • RBI has doubled the gold loan ceiling for loans not exceeding 12 months from the date of sanction.
  • Interest will be charged to the account at monthly rests but will become due for payment along with principal only at the end of 12 months from the date of sanction.
  • For this RRBs should maintain a Loan to Value (LTV) ratio of 75% on the outstanding amount of loan including the interest on an ongoing basis, failing which the loan will be treated as a Non Performing Asset (NPA).
  • RBI has clarified that crop loans sanctioned against the collateral security of gold/gold ornaments shall continue to be governed by the extant income recognition, asset classification and provisioning norms for such loans.
  • India’s first RRB was established in 1975.
  • These were set up on the recommendations of The M. Narasimham committee.

Reference:
https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10861&Mode=0
http://economictimes.indiatimes.com/industry/banking/finance/banking/regional-rural-banks-can-offer-gold-loans-up-to-rs-2-lakh/articleshow/57188429.cms

National Regulatory Authority of India meets WHO internationalstandards for vaccine regulations

National Regulatory Authority of India meets WHO international standards for vaccine regulations

Question: WHO international standards for vaccine regulations include-
1. Quality 2. Safety 3. Efficacy

(a) (1) and (3)
(b) (2) and (3)
(c) (1) and (3)
(d) All (1),(2) and (3)
Ans: (d)
Related facts:

  • On 17 February 2017; the National Regulatory Authority of India (NRA) and affiliated institutions meet the WHO Global Benchmarking Tool requirements for a functional vaccine regulatory system.
  • A World Health Organization (WHO) led team of international experts from several countries came to this conclusion at the end of a comprehensive review from 13-17 February 2017.
  • Affiliated institutions includes, Central Drugs Standards Control Organization (CDSCO); Central Drugs Laboratory, Kasauli; Pharmaco-vigilance Programme and Immunization Division, and other relevant institutions engaged in the regulation, control and testing of vaccines.
  • One of the requirements to become eligible and retain the prequalification status is to have the NRA assessed as functional against the WHO Global Benchmarking Tool.
  • Safety, efficacy and quality are three basic parameters of assessment of vaccines.

Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=158598
http://www.searo.who.int/india/mediacentre/releases/who_india_nrapress_release_20170217.pdf

Hindi writer surendra verma gets 26th vyas samman

26th Vyas Samman 2016

Question: Recently who has been selected for 26th Vyas Samman-2016?
(a) Dr Narendra Kohli
(b) Dr. Kamal Kishore Goenka
(c) Dr. Sunita Jain
(d) Surendra Verma
Ans: (d)
Related facts:

  • On 16 February 2017; renowned Hindi writer Surinder Verma has been chosen for “Vyas Samman” for 2016, for his novel “Kaatna shami ka vriksha padma-pankhuri ki dhar se”.
  • The K K Birla foundation announced the conferment of prize on the Jhansi-born 76-year-old, who will be the 26th recipient of the award.
  • Selection committee constituted under the chairmanship of President Dr Vishwanath Prasad Tiwari of Sahitya Akademi.
  • Besides Mr Tiwari, the members of the selection committee included Mridula Garg, Professor Ramji Tewari, Professor Pandey Shashibhushan Shitanshu, Professor Rajendra Gautam and Professor Suresh Rituprana, Director of K K Birla Foundation.
  • He has already been decorated with the Sangeet Natak Academi in 1992 and the Sahitya Akademi Samman in 1996.
  • The renowned author has penned famous novels like “Mujhe Chand Chahiyae” and dramas like “Surya ki antim Kiran se surya ki pehle kiran tak” and “Kayde hayat”.
  • The award was instituted by the K.K. Birla Foundation in 1991.
  • It is awarded annually for an exceptional contribution made by Hindi writers towards the language and his work published in past 10 years.
  • The award carries monetary award of 3.5 lakh rupees, a citation and a plaque.

Reference:
http://www.nayaindia.com/litrature/hindi-litterateur-surendra-verma-vyas-samman-600711.html
http://www.univarta.com/noted-hindi-writer-surendra-verma-gets-vyas-samman/india/topnews/783481.html

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