5 Dec. 2015: Daily News Updates

1. Uttar Pradesh Government has launched International festival on Birds in a bid to promote state as an international bird-watching destination. The first-of-its-kind festival was inaugurated by Chief Minister of UP.
   
   
2.  RBI announced revised Priority Sector Lending norms for Regional Rural Banks. the PSL target was increased to 75 percent of total outstanding from the existing 60 percent. Medium enterprises, social infrastructure and renewable energy were included under PSL category. Loans to individual farmers, for the purpose of PSL, was increased to 50 lakh rupees from the present 10 lakh rupees against pledge/ hypothecation of agricultural produce (including warehouse receipts) for a period not exceeding 12 months. RBI has lowered the quantum of loans that will qualify as PSL. Against the earlier limit of 25 lakh rupees, loans to individuals up to 20 lakh rupees only are considered as PSL as per revised guidelines. Housing loans to banks’ own employees will be excluded from this limit.
   
   
3. International Volunteer Day observed globally today.
   
   
4. The Reserve Bank of India has cancelled the certificate of registration of 56 non-banking finance companies (NBFCs).
   
   
5. Facebook has set up a SME Council in India to help small ventures from various industries share feedback and discuss ideas around leveraging technology to grow their enterprise. This is the second SME Council set up by Facebook globally, the first one being in the USA.