Daily GK Potion – 8th April 2015

Gromo Referal
  1. MUDRA Bank will fund the unfunded: Modi
    • Prime Minister Narendra Modi on Wednesday launched the Pradhan Mantri Micro Units Development and Refinance Agency Ltd (MUDRA) Yojana, in New Delhi.
    • The MUDRA bank was launched on Wednesday with a corpus of Rs. 20,000 crores and credit guarantee corpus of Rs. 3000 crores.
    • The Bank will be responsible for refinancing micro-finance institutions in the business of lending to small entities.
    • India Post network will be used for increasing access to formal financial system.
    • The Prime Minister further said the eligibility for getting compensation for crop damage due to natural calamity lowered from 50 per cent of crop area to 33 per cent.
  2. Smith Patel Steers Gujarat to Syed Mushtaq Ali T20 Title
    • Gujarat won their second Syed Mushtaq Ali T20 Trophy after a tense two-wicket win over Punjab in the final.
    • Opener Smit Patel scored an unbeaten 50 to help Gujarat get past Punjab’s 117 for 9 with one ball to spare.
    • The Syed Mushtaq Ali Trophy is a Twenty20 cricket domestic championship in India, organized by Board of Control for Cricket in India. The 2008-09 season was the inaugural season for this trophy. It is named after a famous Indian cricketer, Syed Mushtaq Ali.
  3. Amitabh Bachchan, Prince Karim Aga Khan get Padma Vibhushan
    • Bollywood megastar Amitabh Bachchan and Prince Karim Aga Khan were among the eminent personalities awarded the Padma Vibhushan, country’s second highest civilian honour, by President Pranab Mukherjee on Wednesday.
    • Vice President Hamid Ansari, Prime Minister Narendra Modi, Home Minister Rajnath Singh, Finance Minister Arun Jaitley and Delhi Chief Minister Arvind Kejriwal were among the prominent dignitaries present during the event.
    • The Padma awards were announced on the eve of Republic Day this year. It included nine Padma Vibhushan, 20 Padma Bhushan and 75 Padma Shri.
  4. Snapdeal buys Freecharge in biggest startup M&A
    • Snapdeal has acquired mobile recharge platform Freecharge in a deal that is billed as the largest Indian buy out so far in the consumer Internet space.
    • The company did not disclose the deal size, which according to sources could be over $400 million in cash and stock.
    • FreeCharge, a mobile commerce platform where users can pay their mobile, DTH and utility payments across most major operators, will continue to function as an independent platform and without any changes in its shopping experience.

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