Daily Current Affairs 25 June 2020 With Video Lecture

Set-up of Animal Husbandry Infrastructure Development Fund

• Cabinet approved setting up of Animal Husbandry Infrastructure Development Fund (AHIDF) amounting to Rs. 15000 crore.
• Earlier approved Dairy Infrastructure Development Fund (DIDF) worth Rs. 10,000 crores for incentivizing investment by cooperative sector for development of dairy infrastructure.
• Eligible beneficiaries- Farmer Producer Organizations (FPOs), MSMEs, Section 8 Companies, Private Companies and individual entrepreneur with only 10% margin money contribution by them.  The balance 90% would be the loan component to be made available to them by scheduled banks.
• Government of India will provide 3% interest subvention to eligible beneficiaries.
• There will be 2 years moratorium period for repayment of loan with 6 years repayment period thereafter.
• This would incentive infrastructure investments in dairy, meat processing and animal feed plants.

Kushinagar Airport became UP as International Airport

• Cabinet has approved the proposal to declare Kushinagar Airport in Uttar Pradesh as an International Airport. 
• Kushinagar is an important Buddhist pilgrimage site, where Gautama Buddha attained Mahaparinirvana.
• It attracts Buddhists pilgrims from all over the world come for pilgrimage.
• Several other Buddhist sites in the nearby surroundings are Sravasti, Kapilvastu, and Lumbini.
• Benefits: It will boost domestic/international tourism and economic development of the region.

2% Interest Subvention on Shishu Loans under Pradhan Mantri MUDRA Yojana

• Period – 12 months
• The interest subvention would be payable for the months in which the accounts are not in NPA category including for the months that the account becomes a performing asset again, after turning NPA. The scheme will incentivize people who will make regular repayments of loans.
• The ongoing COVID-19 crisis and the consequent lockdown have led to severe disruption of business for micro and small enterprises which are funded through Shishu Mudra loans.
• The Scheme will be implemented through the Small Industries Development Bank of India (SIDBI) and will be in operation for 12 months.

“Distressed Assets Fund–Sub-ordinate Debt for MSMEs”

• Minister of MSME, Shri Nitin Gadkari launched the Credit Guarantee Scheme for Sub-ordinate Debt (CGSSD) which is also called “Distressed Assets Fund–Sub-ordinate Debt for MSMEs”.
• The guarantee cover worth Rs. 20,000 crores will be provided to the promoters who can take debt from the banks to further invest in their stressed MSMEs as equity.
• Highlights-
  • It will extend support to the promoter(s) of the operational MSMEs which are stressed and have become NPA as on 30^th April, 2020;
  • Promoter(s) of the MSMEs will be given credit equal to 15% of their stake (equity plus debt) or Rs. 75 lakh whichever is lower;
  • Promoter(s) in turn will infuse this amount in the MSME unit as equity and thereby enhance the liquidity and maintain debt-equity ratio;
  • 90% guarantee coverage for this sub-debt will be given under the Scheme and 10% would come from the concerned promoters;
  • There will be a moratorium of 7 years on payment of principal whereas maximum tenor for repayment will be 10 years.

Current COVID19 Situation in India

QUIZ TIME

Which Airport is declared as International Airport recently?

1. Kushinagar Airport
2. Bhopal
3. Ghaziabad
4. Gorakhpur

Answer-A

Who are the Eligible beneficiaries of Animal Husbandry Infrastructure Development Fund?

1. Farmer Producer Organizations (FPOs),
2. MSMEs
3. Section 8 Companies
4. All of the above

Answer- D

Moratorium period for repayment of loan under Animal Husbandry Infrastructure Development Fund is?

1. 6 Years
2. 3 Years
3. 2 Years
4. 4 Years

Answer-C

Kushinagar is famous for which of the following?

1. Buddhist pilgrimage
2. Hindu pilgrimage
3. Sikh pilgrimage
4. Muslim pilgrimage

Answer- A