US President Joe Biden, Prime Minister Narendra Modi and his counterparts Anthony Albanese and Fumio Kishida from Australia and Japan respectively launched the fellowship that will sponsor 25 students per year from each Quad country to pursue masters and doctoral degrees at leading Science, Technology, Engineering, and Mathematics (STEM) universities in the US.
MUFG Bank has obtained necessary approvals from the International Financial Services Centre Authority in India and the Financial Services Agency in Japan, to open a branch at Gujarat International Financial Tech City (GIFT City).
GIFT City provides an opportunity to book India-linked offshore business on the shores of India thereby expanding business.
MUFG had opened its first branch in Mumbai in 1953.
Tapan Ray, MD & Group CEO GIFT City.
The government has approved the new base premium rates for a third party (TP) motor vehicle insurance which will be effective from June 1. These rates were last revised for the financial year 2019-20 and were kept unchanged.
These rules may be called the Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022.
Howden, an international insurance broker, has received insurance regulator IRDAI’s approval to raise its shareholding in Howden Insurance Brokers India Private Limited (Howden India) from 49 per cent to 100 per cent, said Praveen Vashishta, Chairman, Howden India.
The company, which got its trading licence in 2004 as a composite insurance broker.
RBI eased norms for non-bank entities to set up Bharat Bill Payment operating units (BBPOUs) by reducing the net-worth requirement to Rs 25 crore, with a view to encourage more players in the segment.
This circular is issued under Section 10 (2) read with Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007), and shall come into effect immediately.
Adani Sportsline, a part of the diversified Adani Group, has entered into franchise cricket by acquiring a franchise in the United Arab Emirates (UAE)’s flagship T20 league.
Adani Group also attempted buying the 2022’s Indian Premier League (IPL) team in October 2021.
UAE’s T20 League is an annual event licensed by Emirates Cricket Board.
Global engineering and product development digital services firm Tata Technologies Ltd on has entered into a collaboration with the Assam government to transform 34 state polytechnics and 43 Industrial Training Institutes (ITIs) into futuristic Centres of Excellence (CoEs) entailing an investment of about Rs 2,390 crore.
According to United Nations, India is expected to grow 6.4% in 2022, well below the 8.8% growth in 2021, as higher inflationary pressures and uneven recovery of the labour market are likely to curb private consumption and investment.
It said the global economy is now projected to grow 3.1% in 2022 down from 4% projected in January 2022.
According to the Global Food Policy Report 2022 published by the International Food Policy Research Institute (IFPRI), India’s food production could drop 16% and the number of those at risk for hunger could increase 23% by 2030 due to climate change.
The number of Indians at risk from hunger in 2030 is expected to be 73.9 million in 2030.
Replacing a 12-year-old policy, the Finance Ministry has come out with a new Government Guarantee Policy (GGP), which aims to include all the changes in General Financial Rules (GFR) and financial policies.Such a policy is required as the volume of sovereign guarantees undertaken during a financial year is limited as per the Fiscal Responsibility and Budget Management Act.
In a major boost to the country’s infrastructure, Prime Minister Narendra Modi laid the foundation stone for six key projects worth 28,540 crore rupees at a function in Chennai.
He also dedicated to the nation five projects that have been completed at a cost of 2,960 crore rupees. The total expenditure on all the eleven projects is around 31,500 crore rupees.
In a bid to protect the domestic paper industry, the commerce and industry ministry has decided to make registration compulsory for importing major paper products such as newsprint, handmade paper, envelopes, among others.
All imports arriving on or after October 1 will be governed by the Paper Import Monitoring policy.
Two days meet of senior functionaries of Postal Department and India Post payments Bank (IPPB), AAROHAN 4.0 started in Shimla.
The agenda of the meeting is to discuss and deliberate ways to further deepen Financial Inclusion drive in the country and to provide banking solutions to every citizen of India.
Survey Vessel (Large) - Yard No 3026 - being built by Garden Reach Shipbuilders and Engineers (GRSE) Ltd, was launched.
This is the second vessel in a series of four such ships being built by GRSE for the Indian Navy to be launched in less than six months. The first ship, INS Sandhayak, was launched in Kolkata on December 5, 2021.
Vice Admiral Biswajit Dasgupta was the Chief Guest at the occasion.
Rajnath Singh has approved the proposal for the creation of a new Defence Estates Circle exclusively for Uttarakhand.In view of the difficulties faced in managing large tracts of defence land in the state and the demand of cantonment residents in Uttrakhand, the MoD will establish an independent office of Defence Estates at Dehradun and a sub-office at Ranikhet.
Chief Commissioner, Delhi Customs Zone, Shri Surjit Bhujabal inaugurated project ‘NIGAH’ at ICD Garhi Harsaru, Gurugram.
Project NIGAH is an initiative to track container by using ICTM (ICD Container Tracking Module) which will help in better visibility of the container movement inside the ICD.
Union Minister Dr. Jitendra Singh has inaugurated the country’s first ‘Lavendar festival’ at Jammu’s Bhaderwah where the cultivation of lavender has transformed the economy of the mountainous area.
Bhaderwah in the Doda district as the birthplace of India’s purple revolution.
Hindi author Geetanjali Shree’s novel Ret Samadhi, Tomb of Sand has won the International Booker prize, becoming the first novel translated from Hindi to do so.
Geetanjali Shree is not only the award’s first Hindi winner, but also it is for the first time a book originally written in any Indian language has won the booker prize.
The 3rd Global Organic Expo 2022 begins and will run for three days at IARI, Pusa, New Delhi. It is set to be a significant platform for Organic Producers, Aggregators, Processors, Value Chain Integrators, and Industry Partners by providing a Global level conference with the appropriate theme "Profitability for Humanity."
Former Sikkim CM & SDF President Pawan Chamling has been invited as the Guest of Honour.
Kolkata is the first metro city in the country to prepare a detailed register of biodiversity.
Kolkata Municipal Corporation released the People’s Biodiversity Register (PBR), a document with details about the floral and faunal varieties in the city as well as its land use and human activities.