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1. Mufti Sayeed passes away, Mehbooba likely to succeed as CM
1. Jammu and Kashmir Chief Minister Mufti Mohammad Sayeed, a crafty politician who took on the powerful Abdullah family and rose to become the country’s first Muslim Home Minister, died today at AIIMS here after his platelets dropped dangerously.
2. Sayeed, 79, who took charge of the State on March 1 last year heading a PDP—BJP alliance, breathed his last this morning after remaining on ventilator for the past few days.Sayeed’s daughter 56-year-old Mehbooba is expected to take over as the first woman Chief Minister of the state with PDP leaders throwing their weight behind her. But this will require the approval of BJP.
3. He is the second J&K Chief Minister to die in office, the first one being Sheikh Mohammad Abdullah who died on September 8, 1982.
2. Union Cabinet approved creation of a Credit Guarantee Fund for MUDRA loans
1. Union Cabinet approved creation of a Credit Guarantee Fund for Micro Units Development Refinance Agency (MUDRA) loans.
The Fund is expected to guarantee more than 1 lakh crore rupees worth of loans to micro and small units in the first instance.
2. Main Highlights
• The Credit Guarantee Fund for MUDRA Units (CGFMU) has been established for guaranteeing loans sanctioned under Pradhan Mantri Mudra Yojana with effect from 8 April 2015.
• The Fund’s objective is to reduce the credit risk to Banks/NBFCs/MFIs/other financial intermediaries, who are Member Lending Institutions (MLIs).
• The Trustee of the Fund will be the National Credit Guarantee Trustee Company Ltd. (NCGTC Ltd.). NCGTC Ltd is a wholly-owned company of Government of India constituted in 2013 under the Companies Act, 1956 to manage and operate various credit guarantee funds.
• The guarantee would be provided on portfolio basis to a maximum extent of 50 percent of Amount in Default in the portfolio.
Besides, the cabinet also approved to convert MUDRA Ltd. into MUDRA Small Industries Development Bank of India (SIDBI) Bank as a wholly owned subsidiary of SIDBI.
The MUDRA (SIDBI) Bank will undertake refinance operations and provide support services with focus on portal management; data analysis etc. apart from any other activity entrusted/advised by Government of India.
3. Sam Pitroda appointed as Odisha Government’s Technical Advisor
1. Satyanarayan Gangaram Pitroda, popularly known as Sam Pitroda, was appointed Technology Advisor to the Odisha Government.
2. Pitroda was appointed as the technology adviser for development of telecom, electronics, IT, ITES sectors of the state.
Pitroda will have a key role in Vision 2036 for Odisha@100, as the state government is making a vision document for 2036 to celebrate the 100 years of state’s formation.
4. Noted Gujarati writer Labshankar Thakar passed away
1. Noted Gujarati writer and poet Labhshankar Thakar passed away following prolonged illness in Ahmedabad. He was 80.
2. He was a modernist author of Gujarati literature with influence of existentialism challenging traditional literature styles.
5. Apurvi Chandela set world record in 10m air rifle at Swedish Cup Grand Prix
1. Indian ace shooter Apurvi Chandela has set a new world record in the women’s 10 metre air rifle event at the 2015 Swedish Cup Grand Prix. She set the new record after winning gold medal in the women’s 10 metre air rifle event shooting score of 211.2.
2. Her winning score has surpassed previous world record of 211 score set by Chinese Olympic gold medallist Yi Siling. In the Swedish Cup Grand Prix, silver and bronze went to Swedish shooters Astrid Steffensen and Stine Nielsen respectively.
6. INS Kadmatt, anti-submarine warfare corvette, commissioned
1. INS Kadmatt, the second ship of Project 28 (P28) class anti-submarine warfare (ASW) corvettes, was commissioned .
2. INS Kadmatt is one of the most potent warships to have been constructed in India
3. INS Kadmatt has been indigenously designed by Indian Navy's in-house organisation, Directorate of Naval Design and constructed by Garden Reach Shipbuilders and Engineers Limited, Kolkata.
4. It has a multitude of networks such as Total Atmospheric Control System (TACS), Integrated Platform Management System (IPMS), Integrated Bridge System (IBS), Battle Damage Control System (BDCS) and Personnel Locator System (PLS) to provide a contemporary and process oriented System of Systems forfunctioning of the warship.