DAILY CA: 24 , 25 OCT 2021
1. 4TH GENERAL ASSEMBLY OF ISA
·
The 4th General Assembly of
the International Solar Alliance (ISA) held virtually which was inaugurated and
presided over by Union Minister Raj Kumar Singh, Ministry of Power and the
President of the ISA Assembly.
·
ISA approved the ‘One Sun’ political declaration for the
launch of Green Grids Initiative-One Sun One World One Grid (GGI-OSOWOG) at
COP26 (Conference of the Parties) to be held in Glasgow, Scotland .
·
ISA co-founded by India and
France during the 2015 climate change conference in Paris, France.
·
Director General– Dr. Ajay Mathur. Headquarters– Gurugram, India
2.
JAYNAGAR-KURTHA CROSS BORDER RAIL LINK
·
The government of India handed
over the Jaynagar-Kurtha, a 34.9km-long cross-border
rail link, which connects Jaynagar, Bihar to Kurtha, Nepal, to the government of Nepal.
·
This will be the first broad gauge cross border rail link between India
and Nepal.
·
Nepal : President– Bidhya Devi Bhandari,Prime
Minister– Sher Bahadur Deuba.
3.
RBI INTRODUCED REVISED REGULATORY FRAMEWORK FOR NBFCS – ‘SBR’
·
Reserve Bank of India (RBI)
has introduced a revised regulatory framework for Non-Banking Finance Companies
(NBFCs) named ‘Scale Based Regulation’ (SBR)
to regulate the NBFCs based on their size, activity, complexity, and
interconnectedness within the financial sector.
·
Structure of NBFCs: Under the SBR framework, NBFCs are categorised into 4
layers as Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper
Layer (NBFC-UL), and a possible Top Layer (NBFC-TL) based on the size,
activity, etc.
·
Base Layer includes, Non-deposit taking NBFCs below the
asset size of Rs 1000 crore.
·
The minimum Net Owned Fund (NOF) for
NBFC-ICC, NBFC-MFI and NBFC-Factors was increased to Rs 10 crore.
·
Non-Performing Assets (NPA)
Classification: For all categories of NBFCs,
the current NPA classification norm was changed to the ‘overdue
period of more than 90 days’ i.e. a debt is classified as
non-performing when loan payments have not been made for a period of 90 days.
·
For NBFCs, RBI has set a
limit of Rs 1 crore/per borrower for financing
subscription to Initial Public Offer (IPO). NBFCs were also
allowed to fix more conservative limits.
4.
“INVEST INDIA” ELECTED AS THE
PRESIDENT OF WAIPA
·
Invest India, a young
‘start-up’ within the Government of India has been unanimously elected as the
President of the World Association of Investment Promotion Agencies (WAIPA) for
2021-2023.
·
The Committee President – Narendra Modi.
·
Two Vice Presidents – Egypt and Switzerland.
·
WAIPA council members are United Nations
organisations including the UNCTAD, WTO (World Trade m Organisation), ILO
(International Labour Organisation), UNIDO (United Nations Industrial
Development Organisation), the World Bank, the International Chamber of
Commerce (ICC), the OECD and the International Economic Development Council
(IEDC).
·
Headquarters : Geneva, Switzerland
