Daily GK Update 15th April, 2017

PM launches GNFC’s cashless/less cash township model across 12 States

i. Prime Minister Narendra Modi launched in Nagpur, a cashless/less cash township model, developed by Gujarat Narmada Valley Fertilizers and Chemicals Ltd (GNFC), across 81 townships in 12 States. 
ii. These townships will deliver 2.5 lakh cashless transactions per day, translating into 9 crore cashless transactions in a year. 
iii. GNFC’s township at Bharuch in Gujarat became India’s first cashless township after demonetization.

Pradhan Mantri Mudra Yojana tops target for 2016-17

i. Loans extended under the Pradhan Mantri Mudra Yojana (PMMY) during 2016-17 have crossed the target of Rs 1,80,000 crore for 2016-17.

ii. The Union Budget has announced a target of Rs. 2.44 lakh crore for Mudra Loans during 2017-18. There would be a special focus within the Mudra Scheme on convergence with other government schemes, deepening connect with borrowers and meeting credit requirements of trainees completing skilling course

UP govt, Centre sign MoU for 'Power for All' scheme

i. Uttar Pradesh government and the Centre have signed an MoU for the 'Power for All' scheme in the state.  
ii. The aim of this scheme is to ensure 24-hour quality power supply in the state by October 2018 and electric connection to every house and agriculture field by 2019.   
iii. The project will cost above rupees 40 thousand crore out of which 20 thousand crore will be spent till 2018.

RBI issues new framework for bad loans

i. The Reserve Bank of India (RBI) has issued a new set of enabling provisions titled 'Revised Prompt Corrective Action (PCA) framework' to resolve the problem of banks mounting non-performing assets (NPAs), or bad loans. 
ii. The new set of provisions, effective from April 1, 2017 override the existing PCA framework and are based on the financials of each bank as of March 2017. 
iii. Under the revised framework, if a bank crosses the third level of risk threshold (where a bank’s common equity tier I capital falls below the threshold of 3.625 per cent by 3.125 per cent, or more) it will either be amalgamated or merged, or taken over by another entity.

Income Tax department launches 'Operation Clean Money-II'

i. The Income Tax department has launched the second phase of the ‘Operation Clean Money’ to investigate over 60,000 individuals with an aim to detect black money generation post demonetisation. 
ii. The Central Board of Direct Taxes (CBDT), the policy-making body of the income tax department has detected the flow of black money into the banks amounting to over Rs 9,334 crore between November 9, 2016 and February 28, 2017. 


PM Modi inaugurates new units in Koradi thermal power station

i. Prime Minister Narendra Modi dedicated 1980 MW of the Koradi super-critical thermal power project of state-run Mahagenco near Nagpur in Maharashtra to the nation. 
ii. The 1,980 MW capacity includes three units of 660 MW each. The plant currently has one unit of 200 MW, two units of 210 MW each and with the addition of the three units of 660 MW each, its total capacity has increased to 2,600 MW.

Nepal, China hold first ever military exercise

i. Nepal and China will hold the first-ever joint military exercise named ‘Sagarmatha Friendship-2017’ from 17 April 2017 with a special focus on combating terror and disaster management. 
ii. Sagarmatha is the Nepali name of Mount Everest, the world’s highest peak, that is bordering between Nepal and China. 

Former J&K Governor Girish Saxena dies

i. Former Governor of Jammu and Kashmir Girish Chandra Saxena has passed away at the age of 90. 
ii. Saxena was an Indian Police Service officer of the 1950 batch from the Uttar Pradesh cadre. 
iii. He served two terms as the governor of Jammu and Kashmir. He also served as the head of Research and Analysis Wing from 1983 to 1986.

Important Takeaways from above GK Update are as follows

• UP and Centre have signed an MoU for the 'Power for All' scheme in the state
• CM of Uttar Pradesh is Yogi Adityanath
• Governor of UP is Shri Ram Naik
• PM Narendra Modi launched in Nagpur a cashless/less cash township model
• Gujarat Narmada Valley Fertilizers and Chemicals Ltd is full form of GNFC
• GNFC’s township at Bharuch in Gujarat became India’s first cashless township
• Pradhan Mantri Mudra Yojana tops target for 2016-17, loans cross target of Rs 1.8 lakh crore
• Pradhan Mantri Mudra Yojana (PMMY) was launched on 8th April 2015 by PM Narendra Modi
• IT department has launched 'Operation Clean Money-II'
• Operation Clean Money is launched with an aim to detect black money 
• The first phase of ‘Operation Clean Money’ was launched on January 31, 2017
• The Central Board of Direct Taxes (CBDT) is the policy-making body of the income tax department
• RBI issued new framework for bad loans named as 'Revised Prompt Corrective Action (PCA) framework'
• The head office of RBI is in Mumbai and was formed in 1 April 1935
• Urjit Patel is the 24th governor of RBI
• B P Kanungo is the newly appointed Deputy governor of RBI.
• Nepal and China will hold the first-ever joint military exercise named ‘Sagarmatha Friendship-2017’ 
• Sagarmatha is the Nepali name of Mount Everest, the world’s highest peak
• Nepal capital is Kathmandu and currency is Nepalese Rupee
• China capital is Beijing and currency is Renminbi/Yuan.
• PM Modi inaugurated new units of 1980 MW  in Koradi thermal power station
• Koradi is located near Nagpur, Maharashtra
• CM of Maharashtra is Devendra Fadnavis and Governor is C. Vidyasagar Rao.
• Former J&K governor Girish Chandra Saxena has passed away
• He served two terms as the governor of Jammu and Kashmir
• He also as an advisor to former Prime Minister Rajiv Gandhi.