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Monday, April 4, 2016

Daily Current Affairs 3rd April 2016


DAILY CURRENT AFFAIRS: 3 APRIL 2016
(Daily News India)
Shared By: WWW.DailyGk.IN

1. NIFTY LAUNCHES NEW INDEX FOR MID AND SMALL CAP STOCKS
i. The National Stock Exchange has launched a new index Nifty MidSmallcap 400.
ii. It will represent the mid and small market capitalization segments of the stock market.
iii. The new index will include 400 companies which are the constituents of Nifty Midcap 150 and Nifty Smallcap 250 indices.

2. MEHBOOBA MUFTI TO BE SWORN IN AS FIRST WOMAN CM OF JAMMU & KASHMIR ON APRIL 4
i.PDP President Mehbooba Mufti wil sworn in as the first woman Chief Minister of Jammu and Kashmir on April 4.
ii. After the death of her father who headed PDP-BJP coalition government Mehbooba had been reluctant to take over as CM of the PDP-BJP coalition government.
STATE GOVERNOR: N N VOHRA.

3. BANKS ADOPTED NEW RATE FORMULA FOR LENDING
i. A large number of banks, including ICICI, Bank of India, IDBI today joined their peers like HDFC Bank,SBI and Axis Bank to make a shift to lending rates based on marginal cost of funds .
ii. Consumer loans became cheaper with new banking formula.
iii.It will have a new way of setting lending rates following RBI’s diktat to ensure faster and effective transmission of its policy rate cuts to borrowers.
iv. RBI had asked banks to price fixed rate loans of up to three years based on marginal cost of funds from April 1.
v.The lending rate based on marginal cost of funds is lower than base rate.

4. JAPAN TO LEND RS.14, 000 CRORE FOR INDIAN PROJECTS
i. The Government of Japan has committed a loan of 242.2 billion for various projects across Indian states.
ii.The funf will be used for integrated sanitation improvement project, a road network connectivity improvement project and micro drip irrigation projects.

5. MUMBAI TO GET INTERNATIONAL ARBITRATION CENTRE BY AUGUST
i. Mumbai Financial capital of India will get the International Arbitration Centre.
ii. This will be the India’s first arbitration centre for dealing the financial disputes.
iii. The financial disputes of India presently dealt in the Singapore Arbitration centre.

6. RAJIV GAUBA TAKES OVER AS SECRETARY OF URBAN DEVELOPMENT MINISTRY
i. Rajiv Gauba took over as Secretary to the Government of India in the Ministry of Urban Development.
ii. He also served in the International Monetary Fund representing the Country for four years on the Board of IMF.

URBAN DEVELOPMENT MINISTER: VENKAIAH NAIDU

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